Connecting our Clients to the Lifestyle of their Dreams – ALLURE OF THE SECOND HOME: WHY AFFLUENT BUYERS ARE DISPLAYING CONFIDENCE IN RESORT MARKETS

The potential market for luxury property has never been bigger.

In our most recent research report, The Allure of the Second Home: Why Affluent Buyers are Displaying Confidence in Resort Markets, we explore the current state of the second home market, as it relates to the affluent consumer, focusing on the top 10% and above income earners in 26 countries, who are in the market to buy or sell a second or vacation home in the next three years.

Who is Considering Buying and Selling?

Buyers, age 40 and younger, are taking over the luxury second home market, but lack the experience of Gen X and Boomers

Luxury second home buyers and sellers have similar demographic profiles in terms of age, geography, education and professional status. As a result, their financial profiles are similar, with the only noticeable difference being that sellers have slightly higher asset levels.

Interestingly, this group has notably high assets for their age. About half of the qualified consumer market is under the age of 40, yet their aspirations for purchase are in the millions of dollars.

For most, this is not their first time purchasing a second home—the average number of residences is over three and 14% own at least five residences currently. Driven not by the Millennial group, but rather by Gen X and Boomers. Of Gen X luxury second home buyers, 17% have more than five homes, along with 19% of Boomers in this buyer group.

Current State of the Resort and Second Home Market

Affluent consumers are in acquisition mode

Those who are in the market to purchase a luxury second home are adding to their portfolio and unlikely to sell their existing second home at the moment—thus there are more buyers than sellers. Interestingly too, this means that sellers are also buyers, but buyers are not necessarily sellers.

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Buyers show more confidence in the market than sellers. More than half of buyers believe that now is a good time to purchase a second home, while relatively few think it is a good time to sell. As noted previously, these consumers are quite savvy when it comes to homeownership; 76% own two or more properties currently.

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What are Second-Home Buyers Looking for?

Wellness is the New Luxury

Affluent consumers have begun living with wellness in mind and this also influences the second home market. In fact, 96% take at least one aspect of wellness seriously as part of their daily routine. Beyond physical and emotional wellness, which most affluent consumers focus on, luxury buyers are keen to improve their intellectual, social and even spiritual wellness.

Amenities that address these needs are sought by buyers and especially resort and second home buyers because of a growing demand for communities that take a holistic approach to overall wellness.

The Bottom Line

With more buyers than sellers, the demand for second homes is keeping home values high for luxury properties. Younger buyers are becoming more prominent, currently making up nearly half of the market, however, older generations have more experience buying second homes. Multiple residences, as well as customized experiences, including wellness amenities becoming a priority.

Would you like more information – just reach out and let’s chat:  214.769.2142

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Connecting our Clients to the Lifestyle of their Dreams – THE LATEST HOME DECOR TRENDS FOR 2019

LOOK at this!  Whether you are looking to overhaul your space or simply change a few accents to update your favorite room, we have researched some of the hottest trends to help you modernize your favorite room. Take a look at some of our favorite home décor trends and get inspired to update your abode.

Antique Pieces

ANTIQUE PIECES

These pieces are trending in the design space in a big way. Incorporate an antique into your living or dining room area for an interesting conversation piece.


Pop of Color

ADD A POP OF COLOR

Update a space with a rich pop of color for fall. Pinks and greens are go-to colors for many but for a bold statement, incorporate rich reds in pillows, curtains or furnishings.


Embrace Orange

EMBRACE ORANGE

Fall’s staple color orange has been an accent color for years and now, it is coming into its own. For a daring change, try orange walls or flooring in your space.


Bold Biophilia

BOLD BIOPHILIA

Embrace the outdoors with a biophilic design in your home. Incorporate plants or highlight your garden area to bring the outdoors in.

To stay abreast of the latest trends in home decor, travel and more subscribe to CLo & DLo.

Connecting our Clients to the Lifestyle of their Dreams – LUXURY HOMES DESIGNED BY FAMED ARCHITECTS

Often, homes crafted by notable architects are revered by owners who appreciate excellent craftsmanship. Many famous architects like Frank Lloyd Wright and Donald Olsen, have designed beautiful homes that are admired by modern architects and artists. These homes showcase some of the creations from some of the most famous architects around the world.

Contact us for more information:  214.769.2142 or click here

Web ID: UVIT

A FRANK LLOYD WRIGHT MASTERPIECE

NEW CANAAN, CONNECTICUT | US $7,200,000

Tirranna was designed by famed architect, Frank Lloyd Wright in 1955. Frank Lloyd Wright is known as one of the greatest architects of the 20th Century and designed more than 1,000 structures during his career. The unique mid-century home hosts 7-bedrooms and 8 and one-half baths near the Noroton River. Unique accents in the home include glass walls, classic wood finishes and gold leaf chimneys. The space also has a tennis court, a pool and access to sculpture paths through the woods that lead to the nearby river. Web ID: UVIT


Web ID: MRFD

DR. FRANK GEHRY’S CONTEMPORARY DESIGN

SUNSET STRIP, CALIFORNIA | US $4,899,000

Awe inspiring design can be found at each turn in this contemporary space located just north of the sunset strip. Designed by legendary architect Frank Gehry, this home has several spaces for relaxing and entertaining guests including a pool and a nearby terrace. Inside, an expansive master suite envelops the entire second floor of the home and features picturesque windows peering out to magnificent ocean views. Web ID: MRFD


Web ID: TPDQ

LUDWIG MIES VAN DER ROHE’S MINIMALIST LUXURY

HAGEN, GERMANY | PRICE AVAILABLE UPON REQUEST

This breathtaking modern home was built after the original plans by Ludwig Mies van der Rohe, a pioneer of contemporary architecture. Modern accents including floor to ceiling windows and clean white walls can be found throughout the space. The master suite on the first floor has and en-suite bathroom and access to a terrace. Additional amenities include an outdoor garden, pool and sauna and a double garage with home access. Web ID: TPDQ


Web ID: EUOC

THE DONALD AND HELEN OLSEN HOUSE

BERKELEY, CALIFORNIA | US $1,795,000

Designed by architect Donald Olsen, the Olsen house is listed in the National Register of Historic places. This striking 3-bedroom is positioned to complement its natural surroundings. The “crystal box” structure of the home provides great views of the nearby greenery, and in some areas, thrusts out toward the trees surrounding the space. Additional amenities in the home include expansive storage space, a painting studio, and an entryway featuring an original mural by artist Claire Falkenstein. Web ID: EUOC

Connecting our Clients to the Lifestyle of their Dreams – EVENTS FOR HORSE ENTHUSIASTS

Whether you are a regular at the stables or just enjoy watching races, there are several events around the world catering to horse aficionados. Take a look at a few of our favorite equestrian events and get inspired to book your next trip.

Want more information on other FAB events?  Let’s Chat – 214.769.2141 or click here

Equestricon

EQUESTRICON

Horse racing’s only fan convention, Equestricon, welcomes horse lovers from around the world for special events, panels and more in the realm of Thoroughbred racing. In 2018, the convention spanned two days and included a meet and greet for trainers, a racehorse retraining seminar and an introduction to thoroughbred horse ownership for beginners. The 2019 dates for Equestricon have not been announced, but fans can follow the event on social media to learn more. equestricon.com


Salamander Resort & Spa

SALAMANDER RESORT AND SPA

Located in the heart of horse country, Middleburg, Virginia, this 168-room property has equestrian facilities including an outdoor riding area and several secluded trails. The resort is ideal for new and advanced riders with classes available to guests from May through October. Adding to the spa and wellness elements of the resort, the facility also offers yoga classes and spa treatments for guests. salamanderresort.com


The Winter Equestrian Festival

THE WINTER EQUESTRIAN FESTIVAL

Each year, The Winter Equestrian Festival is held in Wellington, Florida and offers competitions for junior, adult amateur and professional riders in 70 divisions. It is the longest-running equestrian competition in the world. Participants from 2 to 70 years old compete in a 3-month long competition showcasing the best riders from around the world. pbiec.coth.com

Connecting our Clients to the Lifestyle of their Dreams – VINEYARD PROPERTIES AROUND THE WORLD

If you could live anywhere in the world, where would it be? Ever thought about your very own Vineyard?   For wine connoisseurs, it’s essential to have a private winery at your disposal. Vino lovers from Spain to Switzerland and beyond can enjoy wine from their own backyards while taking in magnificent views and the finest flavors of their region. The following properties may inspire you to open your own vineyard and live a lavish life near the countryside.

Read on….and let’s get started!  Call us for more information  214.769.2142

Web ID: VDMZ

A LUXURY WINERY

DO RIBERA DEL DUERO, SPAIN | PRICE AVAILABLE UPON REQUEST

If you have ever dreamed of owning your own Spanish vineyard, look no further than this beautiful property. Built in the late 1990’s, this space has breathtaking scenery and spans 60 acres. Currently using a unique organic farming process, this vineyard produces grapes which have a distinct texture and flavor said to be unmatched by other producers. The expansive property also includes a barrel room, bottling plant and a wine storage cellar for aging and preserving bottles. Luxury Portfolio Web ID: VDMZ


Web ID: VQKW

PRIVATE ESTATE SURROUNDED BY VINEYARDS

CHIANTI, TUSCANY, ITALY | $9,000,00

Situated high on a hill in the beautiful Italian countryside, this breathtaking home exudes serenity and tranquility. Surrounded by olive trees, infinity pools and vineyards, this unique property offers incredible views of the Chianti hills and spreads over more than 12 acres of land. Amenities in this historic home include 18 fireplaces, a private garden and access to equestrian facilities. Luxury Portfolio Web ID: VQKW


Web ID: QWAZ

CALIFORNIA HOME WITH PRIVATE WINERY

SANTA ROSA, CALIFORNIA | $5,975,000

This remarkable Mediterranean style estate has incredible views and a spacious interior for entertaining. Adorned with rich wood beams and hard wood flooring throughout, this space has an intimate and cozy interior. The expansive kitchen and nearby dining area host one of three fireplaces found in the home. A 4-acre vineyard, wine cave and horse trail can also be found on this expansive property. Luxury Portfolio Web ID: QWAZ


Web ID: FIBB

MODERN APARTMENT NEAR A VINEYARD

GENTILINO, SWITZERLAND | Fr 1,560,000

This modern home situated two kilometers from the center of Lugano provides contemporary living with beautiful views. The 3-bedroom space includes a terrace, a cozy living area and two bathrooms. Residents will enjoy views of the vineyard adjacent to the complex and natural light through the home’s large glass windows. Luxury Portfolio Web ID: FIBB

Connecting our Clients to the Lifestyle of their Dreams – OUTDOOR ENTERTAINING TRENDS 2019

As warmer weather approaches, party planners start buzzing about outdoor entertaining. For many people, nothing can beat a springtime garden party, mid-summer poolside gathering, or early fall bonfire. With good planning and vision, your outdoor gathering can boast just as much luxury and style as any indoor soiree.

In general, the trend for outdoor entertaining in 2019 will be a blend of comfort and elegance, with well-designed outdoor spaces, thoughtful food and drink, and bursts of creative flair like unique flower arrangements or craft cocktails.

If you’re interested in incorporating some upcoming trends into your outdoor entertainment plans, here are some ideas to get you started:

JUST ADD FIRE

Attractive and functional fire pits are a popular choice for those who frequently entertain outdoors. Safer and more elegant than an open fire, the right fire pit can enhance your patio decor while providing a cozy spot for guests to gather. Outdoor dining tables with built-in fire pits combine functionality with comfort and fun, and fire pits can be found in many styles to match your taste. Toasting marshmallows can be a luxurious activity with specialty flavored marshmallows and whimsical skewers.


ECO-FRIENDLY ENTERTAINING

Sustainability is a trend across the board, and for outdoor entertaining that means sustainable decor and tableware. With more and more companies offering eco-friendly products, hosting a sustainable party can still be both elegant and tasteful. Melamine dishes come in a spectrum of colors and patterns and are perfect for outdoor dining. Try fun patterned paper straws instead of plastic ones. As a bonus, these alternatives feel much more luxurious than plastic.

Local food is a big part of the sustainability trend, and it fits right into the atmosphere of an eco-friendly outdoor gathering. Find a high-end catering company that sources local ingredients, and let your guests know where the food is coming from. From quality grass-fed steaks and locally caught fish on the grill to seasonal fruits blended into cocktails, sustainable food can elevate your festivities.


CAPTIVATING CORAL

Adding color to outdoor spaces is an exciting trend for 2019 (no more greige!), and what better way to embrace this concept than using Pantone’s Color of the Year? This year, the color is Living Coral, a mellow, uplifting shade. Try incorporating coral into your outdoor design with throw pillows, blankets, outdoor rugs, and tablecloths. You could even work it into your flower arrangements or cocktail recipes. Bold color choices are also trendy, so don’t be afraid to use colors that pop for your outdoor entertaining.


CREATIVE LIGHTING AND FLOWERS

Now that more extravagant lighting solutions are available and accessible, expect creative hosts to ramp up their lighting style when planning outdoor gatherings. Layered lighting, projections, and strong lighting statements are all ways to create an impressive atmosphere for outdoor entertaining.

Floral arrangements have moved beyond simple tabletop centerpieces and are often a striking piece of design in and of themselves. Monochromatic floral designs, flower ceilings, and unique plants like succulents will be gracing patios and gardens in 2019. If floral design is beyond your own comfort level as a host, hire a good local florist to help prepare for your outdoor parties.


INNOVATIVE COCKTAILS

Nothing enhances an outdoor gathering like the perfect cocktail. For outdoor entertaining in 2019, cocktails will have surprising ingredients – think turmeric or mushrooms. Locally-produced spirits (especially gin) will be a hot ingredient and educating guests with tastings and flights will be a highlight. Even mocktails will be elevated beyond the standard Shirley Temple as more sophisticated nonalcoholic mixers and recipes are available.

Whether you follow some of these trends or bring your own creative touches to your outdoor parties, this entertainment season is sure to be full of fun, comfort, and luxury.

Looking for more entertaining inspiration? Check out our tips on how to Pamper Your Party Guests with The Finest Offerings.

For more information on outdoor entertaining, just connect with us by calling or texting 214.769.2142.

Connecting our Clients to the Lifestyle of their Dreams…Featuring: SAN MIGUEL DE ALLENDE

If you could live anywhere in the world, where would it be?  Here’s an idea –  Named the best city in the world by Travel + Leisure in both 2017 and 2018, the small town of San Miguel de Allende is revered around the world for its stunning architecture, incredible cuisine and peaceful lifestyle. Gaining attention from both retirees and expats, the city is becoming increasingly popular leaving many to wonder if home prices will increase over time. In this month’s Global Market Guide, we take an inside look at the current state and the predicted future of the luxury real estate market in San Miguel de Allende, Mexico.

Sounds interesting, doesn’t it?  Want to know more…just call us: 214.769.2142

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MARKET TRANSACTIONS

Transactions in San Miguel are primarily done in cash, so many agents have found that it is easier to vet clients because they know that potential home owners are coming to the table prepared to buy.

Exclusive listings are prevalent among sellers in the market. Buyer representation is not dominant like it is in the United States although, there are agents in San Miguel de Allende that focus specifically on helping buyers throughout the transaction since the process is much different than in other parts of the world.

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CURRENT HOUSING MARKET

Clients come to San Miguel for the high-end location, stunning views, pools and a relaxing quality of life. Recently, buyers in the area have been looking for homes with cleaner lines and contemporary design, which differ from the arches and Spanish colonial aesthetic that is dominant in the area.

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NEW CONSTRUCTION

There has been an influx of new construction just outside of the city within the past 5-7 years, and many luxury buyers have been attracted to these new developments. Traditionally buyers are interested in nearby attractions such as vineyard and equestrian offerings and several have been attracted to the mall and golf course near many of the new developments outside the city.

LUXURY BUYER PROFILE

Because San Miguel is a secondary market, where many buyers travel to purchase second and vacation homes, many buyers are often very clear on their preferences when purchasing a residence. These buyers are focused on harnessing the cultural experience with a level of sophistication.

CURRENT POLITICAL CLIMATE

Last year (2018) proved to be the best year on record for our member. Sales saw a significant decrease during the election, however following the election, when it was confirmed that the peso would not be affected, sales began to increase. Since the election prices in the area have remained steady and buyers are once again confident in the market.

GROWTH IN THE MARKET

Currently, San Miguel is seeing significant price improvement in the area, which our member predicts will stabilize the market for the next quarter. The demand for real estate is high in the area as more retirees and expats flock to the area.

Both culturally and artistically dynamic, the small city is protected by UNESCO preserving much of the original architecture and historically significant monuments that draw potential buyers to the area.

In mid-2018 local authorities temporarily blocked individuals from selling buying or remodeling properties until new regulations were set up to limit and preserve architecture in the area. Since then, new construction has remedied much of this and San Miguel de Allende continues to expand welcoming locals and foreign buyers alike.

 

Special thanks to our member CDR Bienes San Miguel for providing their insights about the luxury market in San Miguel de Allende, Mexico.

For more information about properties in San Miguel de Allende, browse here.  OR just contact us directly at 214.769.2142