Courtesy of Mark Lippolt of Hammond Residential Real Estate

BOSTON, MA (March 9, 2010) As part of its on-going Hammond Performing Arts Series, Hammond Residential Real Estate is sponsoring a free concert featuring the Alianza String Quartet on Sunday afternoon, March 28 at 3:00 p.m. at the Sanford Calderwood Pavilion at the Boston Center for the Arts in Boston’s South End. Works by Mozart, Beethoven, and Wolf will be performed.

Sarita Kwok (violin), Lauren Basney (violin), Stephanie Fong (viola), and Alexandre Lecarme (cello) comprise the award-winning Alianza String Quartet. The Alianza String Quartet was officially formed in 2004 at Yale University’s School of Music. From 2006 to 2008 they were in residence as postgraduate associates of the Yale School of Music and were closely mentored by the Tokyo String Quartet.

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n addition to their appearances in Japan and throughout Europe, the quartet have performed throughout the east coast and Midwest at venues such as Carnegie Hall’s Weill and Zankel recital halls, Merkin Concert Hall and Juilliard’s Paul Recital Hall in New York City, Yale University’s Sprague Memorial Hall and British Art Center, University of Notre Dame’s DeBartolo Performing Arts Center, and the Missouri Theatre Center for the Arts in Columbia

Of their 2007 Carnegie Hall debut, The New York Times’ Bernard Holland said: “The matching of talent makes or breaks a new string quartet, and the young Alianza players seem on an equal level. They have evidently worked scrupulously on blending and balance, and as befits their time of life, they boil over with an edge-of-the-seat eagerness …”

The Hammond Performing Arts Series, sponsored by Hammond Residential Real Estate, was started in 1994 to provide performance opportunities for deserving, talented music artists in the early stages of their careers. David Stenberg, manager of Hammond Residential’s Boston offices said: “The series is based on Hammond’s belief that we should enrich the cultural life of the communities in which we do business.”

Admission is free, but a reservation is required. Please call 617-587-4622 to reserve a seat.

To learn more, please visit www.hammondre.com.

By Jean-Yves Piton

LuxuryRealEstate.com is proud to introduce our new member in Italy.

Property At Lake Como, a trade name devised and developed by Marco Badalla, primarily focuses on and is specialized in real estate in the Lake Como area.

Property At Lake Como may count on teamwork with some of the leading real estate companies in the Como area, Lugano, London, New York and Moscow, as well as with professionals in the legal and financial fields.

What it offers is special attention to every customer, so that it may provide a better service to those who are seriously interested in making a dream come true, that of buying a house by Lake Como.

All negotiations are followed with the greatest reliability and confidentiality. After purchasing, the customer has the option of a full property management service offering a variety of personalized solutions, provided by our partner company: DinamikComo. Born in Lugano, Marco Badalla has lived in Como most of his life and has an excellent knowledge of the entire Lake Como area and particularly the lakeside villages, thanks to his personal and thorough real estate exploration. In recent years Mr. Badalla has organized the successful purchase/sale of many prestigious properties, both apartments and villas, and his competence has been greatly appreciated by those people who have had dealings with him.

For more information regarding Mr. Marco Badalla’s portfolio of luxury properties, please feel free to visit http://www.propertyatlakecomo.it/ and/or contact Property At Lake Como at info@propertyatlakecomo.it.

About Who’s Who in Luxury Real Estate:

Who’s Who in Luxury Real Estate is an invitation only network representing the best luxury real estate firms and professionals from around the world. Each affiliated member is carefully selected to represent his/her market area. Who’s Who in Luxury Real Estate also hosts the industry leading Website www.LuxuryRealEstate.com (a 2009 Webby Award Honoree).

Courtesy of: Nancy Landreth of Harbor Bay Realty

[Alameda, March 5, 2010]  Steve Sorensen, Broker Associate with Harbor Bay Realty, has been awarded the prestigious Certified Residential Specialist (CRS) Designation by the Council of Residential Specialists, the largest not-for-profit affiliate of the National Association of Realtors®.

Realtors® who receive the CRS Designation have completed advanced professional training and demonstrated outstanding professional achievement in residential real estate.  Less than four percent of Realtors® nationwide have earned the credential.

Home buyers and sellers can be assured that CRS Designees subscribe to the strict Realtor® code of ethics, have been trained to use the latest tactics and technologies, and are specialists in helping clients maximize profits and minimize costs when buying or selling a home.

Sorensen also holds the e-PRO designation which assists him in maximizing the use of online research and website tools

Sorensen is a member of the Alameda Association of Realtors; and served as a director in 2008-2009, as well as in previous years.  He is a director of the Baywood Village Homeowners Association, and served on the 2009 City of Alameda Fiscal Sustainability Committee.

“Earning the CRS designation signifies my commitment to my profession by using my experience and education to best represent my clients,” said Sorensen.  “The CRS training is focused on the real world, giving me distinct advantages over non-designees when it comes to navigating the complicated framework of a real estate transaction. The CRS network also gives me a reliable referral base for my clients relocating out of the area.”

Dennis Pagones, Harbor Bay Realty President, commended Sorensen for this significant achievement.  “Steve’s CRS designation will enhance the service he provides his clients, “said Pagones.  “We are proud to have him with us at Harbor Bay Realty.”

Steve Sorensen can be reached at Harbor Bay Realty at 510.814.4888 and via email at ssorensen@HBRinfo.com.  To view listings, visit HBRinfo.com.

Courtesy of: Ben Moss of The Campins Company

Katrina Campins, of The Campins Company and star on Season 1 of The Apprentice, was recently featured on Bloomberg TV’s “Inside Track” discussing the current real estate market of the Miami, Florida area. To see the video, visit Katrina’s website, www.thecampinscompany.com, or click here!

Katrina had the following insights about the current market:

Tone of the luxury real estate market:

Since October of last year, it seems like someone flipped on the light switch—that activity has continued into 2010. There was much less activity during the first 3 quarters of 2009, as well as the end of 2008.

Volume in 2008 and 2009 was very similar, and about 30% lower than from 2006 & 2007. I'd say in the last two quarters, we're getting back to the volume we have been missing, which to me is quite remarkable, considering the breadth of this recession.

Inventory levels are down across the board by about 25% from their peak. We still have a ways to go obviously, before we are back in equilibrium (typically 6 months is what we consider to be equilibrium). Therefore, it is very much a buyer's market and should continue to be for the next couple years or so.

I don't predict any real appreciation in the market, and I actually believe we may still have more declines in store. However, we really are back at 2002 price levels at this point and I do think we've seen the lion's share of the price declines. With no wage growth, high unemployment and an eventual rise in interest rates, I don't see how we can see any appreciation in the market anytime soon.

The premier, best-located properties (especially large condominium units in premier buildings) have really held onto their value much better than the rest of the market.

I think many wealthy buyers decided that along with the price declines of houses/condos, a strong stock market and more confidence that we're getting through this recession, they felt comfortable getting into the real estate market.

Many buyers are not as instinctive as they once were, and are taking longer to make decisions as well as make their purchases with less emotion involved.

Majority of buyers in luxury market are foreign buyers (Europe and Latin America) as well as some from the Northeast United States (we have a very strong NY connection here in South Florida).

A high percentage of luxury buyers pay cash or put down large down payments. Another large percentage take out a secured loan against other assets. Appraisals have posed the biggest challenge to getting transactions closed.

Banks are also trying to bring in more deposits by offering home loans on the condition that a borrower bring over a savings account.

Katrina’s advice is as follows:

Be a long-term buyer. If you are not prepared to be in your house for the next five years, you may be better suited as a renter. This can be a great time to buy (low rates, prices have really fallen, lots of inventory to choose from). However, be prepared for continued softness in prices while the economy puts itself back together - which could easily take another year or two.

Luxury Real Estate Statistics:

- Miami-Dade County Houses over $1.5 MM: 933 on market vs. 273 sold in last year (3.5 year supply). Average Sale Price/SF = $456. LP/SP: -18%

- Miami-Dade County Condos over $1.5 MM: 831 on market vs. 214 sold in last year (3.8 year supply). Average Sale Price/SF = $715. LP/SP: -16%

- Broward County Houses over $1.5 MM: 577 on market vs. 146 sold in last year (3.9 year supply). Average Sale Price/SF = $400. LP/SP: -18%

- Broward County Condos over $1.5 MM: 177 on market vs. 36 sold in last year (4.9 year supply). Average Sale Price/SF =$476. LP/SP: -24%

- Palm Beach County Houses over $1.5 MM: 1,366 on market vs. 333 sold in last year (4.1 year supply). Average Sale Price/SF = $499. LP/SP: -19%

- Palm Beach County Condos over $1.5 MM: 284 on market vs. 70 sold in last year (4.0 year supply). Average Sale Price/SF = $634. LP/SP: -17%

By: Tony Illia
Courtesy of: Bruce Hiatt of Luxury Realty Group

Condo hotels see 'severe' downward drop in value as credit for mortgages disappears

Checks are in the mail for Cosmopolitan Resort Casino homebuyers. On Feb. 23, Clark County District Court Judge Elizabeth Gonzales approved a class action settlement refunding partial homebuyer deposits at the $3.9 billion, still under construction Strip development. The move essentially eliminates residences at the twin tower high-rise complex, on 8.5 acres, at 3700 Las Vegas Blvd., South.

"Many legal experts said a settlement agreement was unlikely, and I'm glad our fight paid off," said Marquis & Aurbach managing partner Terry Coffing, whose Las Vegas law firm represented 100 units. "The refund checks are scheduled to be cut in April."

The 490-unit East Tower settled at 68 percent of homebuyers' deposits, which ranged from $115,000 to $350,000 per unit depending on size and location. Attorney's fees were 7.82 percent of that amount. Escrow deposits typically represent about 20 percent of the final purchase. Homebuyers can opt out of the settlement before March 29.

The deal follows a similar action last year on Cosmopolitan's 1,322-unit West Tower, which returned 74.4 percent of homebuyer deposits. A court settlement ordered the owner to payback roughly $140 million. Marquis & Aurbach had represented owners of 430 units inside the West Tower, or 32.5 percent of the total building. A sold-out East Tower could generate $112 million or more in down payments. Homebuyers had claimed numerous breaches of contract, including unmet completion deadlines. Several lawsuits were eventually combined into a single case.

"Those units have to be 35- to 40-percent upside down. What is the catalyst to now close those units?" said Marquis & Aurbach associate Nick Crosby. "There isn't a credit market for condo hotels."

Cosmopolitan homebuyers have been scrambling to get out from underneath their purchases, as many face challenges securing mortgages amid a frozen credit market. It makes the project's plans for condominiums unlikely moving forward. Plans had called for two glass hotel-condo towers with a combined 3,000 units perched atop a multilevel retail, casino and entertainment podium.

Deutsche Bank AG, which bought the distressed property during a foreclosure sale in 2008, recently wrote down the project value by $103 million. It marks the second write-off in less than a year for the Cosmopolitan. The development is tentatively scheduled to finish construction in December. Perini Building Co. is the general contractor, with Related Cos. the project manager.

Calls to Deutsche Bank spokesman John Gallagher for comment were not returned by press time.

Luxury condominiums are being valued differently today than a few years ago during the real estate boom. Rising unemployment and a deepening recession are fueling more widespread financial conservatism, as once bullish investors delay, defer and cancel large capital expenditures. It has largely seized condominium sales, say industry observers.

"It's probably the most dramatic property drop we have ever seen. We are starting to see 30 percent drops in condo hotel prices. The downward trend has been quite severe. It appears Las Vegas has not yet reached bottom for the hotel condo market," said Bruce Hiatt, owner of Luxury Realty Group Inc., a Las Vegas-based high-rise condominium brokerage company. "Today's buyer is much more aware of the current resale marketplace and those price points, which are very different from what they were a few years ago."

PROJECTS

Las Vegas Paving Corp. recently broke ground on a $246.5 million I-15 widening project from Tropicana Avenue to just south of Silverado Ranch Boulevard in Las Vegas. The design-build project will widen the freeway, add collector-distributor roads and redesign five interchanges. Other work calls for 26 new bridge segments, 35 miles of retaining walls and 1.5 miles of sound walls. The job will employ 70 designers and 300 people during the peak of construction activity. The Las Vegas Convention and Visitors Authority is providing $250 million in bond-backed financing. The project is scheduled to finish in March 2012.

Courtesy of: Mr. Loic Le Borgne of Luxe-Villas

The second successive victory for BMW ORACLE Racing against Alinghi on Sunday 14th February 2010 marked the end of the 33rd America's Cup in Valencia. As an international sporting event it was withour precedent in terms of the organization.

On 7th February the Port America's Cup located in the Marina Real Juan Carlos I of Valencia inaugurated the 33e edition of the oldest international sporting event in the world.

Courtesy of: LuxuryRealEstate.com

Katrina S. Campins, Founder of The Campins Company, is among the most visible and successful real estate professionals in the country. Headquartered in Miami Beach, Florida, with offices in Chicago and Maryland as well as a proprietary network of brokers called The Campins Clique Nationwide, Katrina’s sales production ranks her among the top ½ percent of realtors’ nationwide. She has been featured in numerous publications including recognition as Realtor Magazine’s ‘Top 30 Under 30’ in 2004, Forbes, USA Today, NY Post, NY Times, Sports Illustrated, Ocean Drive, ESPN, Player Magazine, Variety Magazine, the covers of People Magazine, US Weekly, In Touch an d many more. Katrina continues to leverage her media exposure to further her real estate career and build The Campins brand, thus providing exposure to her properties and clients. Katrina has and continues to appear on NBC, VH1, E!, HGTV, SITV, Topps TV, Fox News, CNN, CNBC, ESPN, MTV, BBC and starred in Bravo’s docu-drama, Miami Social.

Licensed at the age of eighteen, Katrina garnered her first six-figure commission check while still a college student. Katrina launched the Campins Company in 2004 and has constructed an ‘A’ list roster of clientele consisting of celebrities, athletes and entrepreneurs. She formed the Sports & Entertainment division within her company in 2005 in order to better service her celebrity clients with their real estate needs throughout the entire United States. Since 2005, Katrina has personally represented over 160 athletes and/or entertainers in this capacity. The Campins Company’s Project Marketing & Management Division has also sold over $100 million in four exclusive listings (three office condominium projects and one condo-hotel project) since its inception. In total her sales production exceeds $520 million since the launch of her company. Katrina’s business development prowess, negotiation skills, market knowle dge and no-nonsense, results-driven approach make her the powerhouse she has become at a young age.

Katrina graduated from the University of Miami with general honors and a 4.0 grade point average, while majoring in International Finance & Marketing. Her career in real estate began when she ‘flipped’ her first investment property at age seventeen. Katrina believes strongly in giving back to her community and is involved in several charitable organizations. Katrina, a first-generation Cuban-American is fluent in English and Spanish.

To learn more about Katrina Campins, visit her website. For more information on the 8th Annual Luxury Real Estate Spring Retreat and other upcoming events, visit www.luxuryrealestate.com/conference.

Courtesy of: Katrina Delgado of John Daughtery, Realtors

In the JDR tradition of community involvement, John Daugherty was invited to teach at Rice University for the fifth year running. Taught in Rice’s prestigious Jones Business School, the Real Estate Development class is offered to second-year MBA candidates.

To promote the importance of the professional real estate agent, John Daugherty pointedly recalled earlier, less expeditious times. Mr. Daugherty recollected an era when Realtors were required to await the arrival of the MLS book in contrast to the spontaneity of today’s MLS system, providing immediate access to the constantly occurring changes. But while Mr. Daugherty offered praise for today’s new and instantaneous technologies, he counseled the continued value of firms like JDR. He made the point that despite the Web’s impact on the real estate market agents are still vital to the buyer to help them find the right property.

Mr. Daugherty stressed JDR’s commitment to the continued use of technology as a marketing and networking tool and underscored the importance and vitality of the professional agent, an importance that with the advent of current and future new technologies has made the real estate agent even more necessary to the market today.

Courtesy of: Karli Kittine of  The Corcoran Group

Corcoran CEO Pamela Liebman, Susan Breitenbach, Director of Sales Tresa Hall

Southampton, NY - - (Feb. 3^rd , 2010) - - The Corcoran Group, New York’s largest residential real estate firm, held its annual awards ceremony Wednesday, February 3rd at Hampton Hall in Southampton. The ceremony was hosted by President & CEO Pamela Liebman, Executive Vice President, Director of Sales, Tresa Hall, and Regional Senior Vice President, Rick Hoffman. Following the awards, agents and employees were treated with an informative seminar by Ellen Boyle from www.TheRealCoach.com.

Though 2009 was a challenging year for the real estate industry, Corcoran exited the year strong with the firm reporting more than $10 billion in closed sales in 2009.

Total list of Corcoran 2009 Awards:

• Top Sales Agent by Volume & Units: Susan Breitenbach
• Top Exclusive Listing Agent: Susan Breitenbach
• Highest Sale Price: Susan Breitenbach
• Highest Rental Price: Susan Breitenbach
• Top Team of the Year: Evan Kulman & Gene Stilwell
• Top Commercial Sales Agent: Thomas Mangel
• Rookie of the Year: Ling Li
• Top Deal, North Fork: Sheri Winter Clarry
• Top Deal, South Fork: Susan Breitenbach
• Employee of the Year: Robin Goetz

Top 2009 Agents By Office Awards:

• Amagansett Top Producer: Krae Van Sickle
• Bridgehampton 2405 Top Producer: Ginger Thoerner
• Bridgehampton 1936 Top Producer: Susan Breitenbach
• East Hampton Top Producer: Gary DePersia
• North Fork Top Producer: Sheri Winter Clarry
• Sag Harbor Top Producer: Mala Sander
• Shelter Island Top Producer: Penelope Moore
• Southampton Top Producer: Geoff Hull
• Montauk Top Producer: Chris Coleman
• Westhampton Beach Top Producer: Martha Lewis

The Corcoran Group, a leading residential real estate brokerage company in New York City, operates 59 offices with 2,500 sales associates serving Manhattan, Brooklyn, the Hamptons, the North Fork, Shelter Island, Delray Beach and Palm Beach, Fla. The Corcoran Group, www.corcoran.com, is part of NRT LLC, the nation’s largest residential real estate brokerage company. NRT, a subsidiary of Realogy Corporation, operates Realogy’s company-owned real estate brokerage offices.

Katrina Campins of The Campins Company will be appearing Tuesday, March 9 at approximately 6:45 am EST on Bloomberg Television's "Inside Track"  to discuss the state of the South Florida real estate market.