SAN FRANCISCO, Feb. 11, 2013 /PRNewswire-iReach/ — Business Insider has recently shed light on the “hottest” luxury real estate markets across the United States. San Francisco joins New York, Los Angeles, Miami, and Washington, DC on this collection of growing markets in the luxury real estate industry. Thea Miller , a sales and marketing professional who specializes in luxury properties, comments on the growth of the San Francisco market.

“As the Bay Area‘s housing market continues to heat up once again, it’s catching the attention of the media—and it is shining a spotlight on the rebound that the market is making,” comments Thea Miller . “In a front-page story in the Chronicle, titled ‘Bay Area Home Sales, Prices Surging,’ reporter Carolyn Said explores the extremely strong housing numbers that were released by DataQuick, which is a La Jolla-based information services company. She has examined the catalysts of the housing turnaround. DataQuick, in its monthly report, asserts that the median sale price for Bay Area properties in December rose to $442,750, a stunning 32 percent increase from a year ago and the largest jump in 25 years of record keeping.”

Miller goes on to explain that, according to the article, sales increased year-over-year for the 18th month in a row, ultimately climbing 4.5 percent in just the last month. She cites CaliforniaMoves.com data reporting that San Francisco and Santa Clara County achieved double-digit sales growth year over year with 29.5 percent and 13.1 percent increases, respectively.

“It’s good to see that Bay Area news and other media are on top of this story, but what’s especially gratifying is that they’re getting out the message that we have a severe shortage of homes for sale in the region and sellers are getting good prices for their homes once again,” asserts Miller. “My hope is that homeowners who have been sitting on the sidelines will begin to realize that this market presents a tremendous opportunity for them to get top dollar for their home. Right now, it’s a red-hot seller’s market. But as we know, it won’t always be that way. If traditional patterns apply this year, there will be some added inventory in March and April. This will bring more opportunities for buyers, but it will also incite additional competition between sellers, compared to the way the market stands today.”

Miller encourages any individuals who are contemplating selling a luxury property in the Bay Area to contact a qualified professional to discuss the value of putting their homes on the market while conditions are still in their favor. 

ABOUT:

Thea Miller is a luxury property specialist. With over two decades of experience, Thea Miller guides her clients through the market in San Francisco, California. Thea Miller provides a high degree of customer support while paying close attention to detail and providing insight regarding local property values and activities. She is a member of The National Association of Realtors, The San Francisco Association of Realtors, The California Association of Realtors, Who’s Who in Luxury Real Estate, and Top Agent Network, of which she is a verified member.

Media Contact: Jordan Hope Mark-PR.com, (678) 685-8304, mark@mark-pr.com

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE Thea Miller

Article source: http://www.prnewswire.com/news-releases/thea-miller-comments-on-growing-luxury-real-estate-market-190648651.html

La Jolla, CA (PRWEB) February 10, 2013

The Real Estate Marketing Insider named the winner of this week’s Luxury Market of the Week award following a news release in the SFGate. The award for the domestic market with the most potential for realtors went this week to San Francisco and its Bay Area.

Realtors and real estate leads experts report that the Bay Area saw a surge in sales of luxury properties in 2012. In addition to anecdotal reports from realtors that focus on luxury properties, SFGate reported on some inspiring numbers from the Bay Area’s luxury market. In 2012, 162 properties sold in the Bay Area for over $5 million. In the 9 counties of the Bay Area, over 11,000 $1 million-plus properties were sold. Among the reasons being cited for the boom are the recent successes of the tech industry in the area, as well as increased attention from foreign buyers.

California has always been a prime starting point for luxury property. All along its lengthy coastline, the Golden State offers pristine views, great tourism opportunities, and major urban areas within reach. Thanks to the tech industry and the Asian population in San Francisco, luxury buyers are starting to concentrate in the San Francisco area. Everything from beach front vacation rentals to Humboldt-area beach properties has attracted big money. Any realtor who lists a few luxury properties around the Bay Area should see them sell quickly, easily, and for a hefty price. Realtors looking to expand their luxury portfolios should take a closer look at REMI’s Luxury Market of the Week, before available listings in the area decrease.

The Real Estate Marketing Insider named the San Francisco Bay Area its Luxury Market of the Week. San Francisco enjoyed a huge push in the luxury market in 2012, with several $5 million-plus sales and over 11,000 million-dollar sales.

About the Real Estate Marketing Insider:

The Real Estate Marketing Insider is a valuable resource for realtors, home buyers and investors. REMI provides up-to-the-minute news, market analysis, and trend watches.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebluxury-housing-markets/02/prweb10407152.htm

Article source: http://www.sfgate.com/business/prweb/article/REMI-s-Luxury-Market-of-the-Week-is-San-4266428.php

La Jolla, CA (PRWEB) February 10, 2013

The Real Estate Marketing Insider named the winner of this week’s Luxury Market of the Week award following a news release in the SFGate. The award for the domestic market with the most potential for realtors went this week to San Francisco and its Bay Area.

Realtors and real estate leads experts report that the Bay Area saw a surge in sales of luxury properties in 2012. In addition to anecdotal reports from realtors that focus on luxury properties, SFGate reported on some inspiring numbers from the Bay Area’s luxury market. In 2012, 162 properties sold in the Bay Area for over $5 million. In the 9 counties of the Bay Area, over 11,000 $1 million-plus properties were sold. Among the reasons being cited for the boom are the recent successes of the tech industry in the area, as well as increased attention from foreign buyers.

California has always been a prime starting point for luxury property. All along its lengthy coastline, the Golden State offers pristine views, great tourism opportunities, and major urban areas within reach. Thanks to the tech industry and the Asian population in San Francisco, luxury buyers are starting to concentrate in the San Francisco area. Everything from beach front vacation rentals to Humboldt-area beach properties has attracted big money. Any realtor who lists a few luxury properties around the Bay Area should see them sell quickly, easily, and for a hefty price. Realtors looking to expand their luxury portfolios should take a closer look at REMI’s Luxury Market of the Week, before available listings in the area decrease.

The Real Estate Marketing Insider named the San Francisco Bay Area its Luxury Market of the Week. San Francisco enjoyed a huge push in the luxury market in 2012, with several $5 million-plus sales and over 11,000 million-dollar sales.

About the Real Estate Marketing Insider:

The Real Estate Marketing Insider is a valuable resource for realtors, home buyers and investors. REMI provides up-to-the-minute news, market analysis, and trend watches.

PDF


Print

Article source: http://www.prweb.com/releases/luxury-housing-markets/02/prweb10407152.htm

Mansions that had languished on San Francisco’s Billionaire’s Row were finally snapped up last year. Well-known moguls from tech and finance poured money into real estate. Expansive estates in Silicon Valley drew publicity-shy billionaires who set up shell companies to shroud their identities.

In the nine-county Bay Area, 11,041 properties changed hands in 2012 with sales prices above $1 million, up 29 percent from 2011, according to real estate service DataQuick of San Diego.

Of course, around here, a million dollars doesn’t necessarily buy a mansion. That price tag can easily adorn a two-bedroom condo in San Francisco, a run-down ranch in Palo Alto, or a suburban tract house in Moraga.

“Virtually all home sales in some communities were in the $1 million-plus category,” DataQuick said, listing Ross, Los Altos, Atherton and Hillsborough as Bay Area towns where that was the case. Hillsborough had 422 million-dollar-plus sales in 2012.

Overseas cash

The real action was at the even higher end – 162 Bay Area homes sold for north of $5 million, DataQuick said. California notched an all-time high of 697 homes selling for over $5 million.

“In the prestige market (some sales) may have to do with where to park assets relative to other areas like the stock market and mutual funds,” said DataQuick analyst John Karevoll.

“One clear portion of the market that’s very active is buyers from abroad,” he said. “They’re coming here, they’ve got money and that money is in cash.”

The recovering economy, especially the tech sector, definitely has played a role in the luxury boom.

“The technology industry has done very well recently, which has created a wealthier pool of buyers,” said Jed Kolko, chief economist with real-estate site Trulia.com. “At the same time, with prices rising, there are more million-dollar homes than a year ago simply because of appreciation.”

Inventory of high-end homes is just as tight as at other price points.

Malin Giddings, a Coldwell Banker agent who focuses on luxury real estate, said: “2012 was an incredible year because there was very low inventory and very high demand.”

Just as with the regular market, high-end homes sold for less than their bubble-fueled heights. “For sellers who understand that values have taken a 25 percent hit, those properties are moving,” she said. “We are not back to pre-2008 prices.”

Who’s buying

Another impetus for sellers: A Jan. 1 hike in the capital gains tax.

“In Palo Alto there were quite a few sales of homes over $3 million by people whose cost basis was $50,000 to $200,000, who were motivated to close before the end of the year because of the tax bump,” said Steve Niethammer, a Realtor with Zane MacGregor Co.

Who buys trophy homes?

David Bellings of Coldwell Banker, who specializes in luxury properties, said his current listing for an $18.5 million, seven-bedroom home in Sea Cliff, as well as other high-end homes he sold last year, drew interest from “CEOs from around the world” as well as “celebrity types from L.A. thinking of moving here to escape the crazy paparazzi and to have more of a normal life.”

Several well-known tech moguls went on shopping sprees in San Francisco. Yammer founder David Sacks bought 2845 Broadway for $20 million, a fraction of the $65 million it once commanded. Jack Dorsey of Twitter and Square paid $9.9 million for a two-bedroom in Sea Cliff. Zynga’s Mark Pincus paid $16 million for the Newhall mansion on Pacific Avenue. Apple’s Jonathan Ive, the mastermind behind the design of the iPod and iPhone, paid $17 million for 2808 Broadway.

“Many of those properties had been on the market for over three years, especially on Billionaire’s Row,” said Sally Kuchar, San Francisco editor of the real-estate website Curbed.com. “The influx of tech money has really helped those big estates sell.”

Tech money reportedly fueled the blockbuster sale of a 9-acre hilltop estate in Woodside that sold in November for $117.5 million, setting an all-time U.S. record. Although public records don’t show who ponied up that amount, the Los Angeles Times said the new owner may be Softbank CEO Masayoshi Son, the second-richest man in Japan.

The seller is no secret: It was Tully Friedman, CEO of San Francisco private equity firm Friedman, Fleischer and Lowe.

Record-setting sums

“That sale just blows my mind,” Niethammer said. “It looks like (the buyer) overpaid by $100 million. Property in Woodside generally goes for about a million bucks an acre; with the house, it should have been about a $20 million deal.”

The previous record-setting sale quickly ended up losing half its value, at least for tax purposes. Russian billionaire Yuri Milner, an early Facebook investor, paid $100 million in 2011 for a Los Altos Hills mansion, but a year later got the county to chop its assessed value to $50 million.

Niethammer is listing a 150-acre former llama ranch estate for $15.5 million in Bonny Doon, overlooking the Pacific Ocean. “I told the seller, ‘You might want to add $100 million to it so it will sell,’ ” he joked.

The historic Flood estate in Woodside, 92 oak-studded acres listed for $85 million in September, has drawn a lot of interest, said Mary Gullixson of Alain Pinel Realtors.

Showing just how coveted open space is, she’s listing a 3-acre parcel – no house – in the Menlo Circus Club area of Atherton for $19.8 million. “It’s a diamond in the rough,” she said.

Another mega-estate in Silicon Valley just hit the market for a cool $100 million with an unusual caveat – the buyer must agree to let the current owner live out his days there.

Located in Hillsborough, the 47.4-acre estate features hiking trails, streams, wildlife and gardens designed by Thomas Church. It comes with a 16,000-square-foot Mediterranean-style home designed by the same firm that designed the St. Francis Hotel. The house has a ballroom, pavilion, library and swimming pool, according to court records of the owner’s divorce.

Lifetime resident

The house’s inhabitant – Christian de Guigne IV, 75, the current owner – plans to remain in residence there for the rest of his life.

Isn’t that a rare request? “It’s as unusual as the size of the land that’s available in such an exclusive area,” said listing agent Gregg Lynn of Sotheby’s International Realty.

The de Guigne family – the patriarch emigrated from France and co-founded Stauffer Chemical Co. in Gold Rush-era San Francisco – has owned the land for 150 years. The house construction started in 1914 and was delayed when Christian de Guigne II went off to serve in World War I, Lynn said.

Million-dollar-plus home sales surge

The number of homes selling for more than $1 million was up 29 percent in the Bay Area in 2012.

Source: DataQuick

Carolyn Said is a San Francisco Chronicle staff writer. E-mail: csaid@sfchronicle.com

Article source: http://www.sfgate.com/realestate/article/Bay-Area-luxury-home-sales-boom-in-2012-4244363.php

“People at this income level,” Paster said before the auction that wasn’t, “always have money.”

That maxim proved true when it came to luxury properties in the Bay Area last year. Technology executives paying discounts on listed prices were active buyers in 2012, as the growth of social-media and Internet firms including Twitter and Yammer created a wave of millionaires.

Some older homes on the market had sat unsold for years before finding buyers, said Rick Turley, president of Coldwell Banker Residential Brokerage of Northern California. But by the final week of 2012, there were at least 13 publicly recorded transactions for more than $10 million in exclusive San Francisco neighborhoods such as Pacific Heights, Presidio Heights and Sea Cliff, according to DataQuick, a research firm.

That’s up from six sales last year and a dozen in 2007, the previous high mark. The numbers don’t include deals in expensive areas outside the city, such as Belvedere, Tiburon, Atherton or Palo Alto.

“Over a long listing period, it’s hard to say what will happen, because obviously the market is constantly changing,” Turley said. “The success of tech and social media means people are looking very generally at San Francisco and the Silicon Valley as places to live because these businesses are sourced here. It’s highest on their radar.”

Initial public offerings in 2012 by Bay Area companies raised a record $17.5 billion in public equities markets, including sales by Facebook, Yelp and Workday, according to data compiled by Bloomberg. The total is more than double the $8.3 billion reached in 1999, the height of the dot-com boom.

This year’s Bay Area IPOs generated $9.4 billion in cash for selling shareholders. Other investors have been able to generate money before initial stock sales through the rise of secondary-share markets such as SharesPost.

Yammer founder

Yammer founder David Sacks, who sold the social-media company to Microsoft in June for $1.2 billion, later bought an unfinished home in Pacific Heights that had been listed for $38.5 million. The transfer tax indicated a $20 million sale.

Sacks’ new residence, built in the style of a French chateau, was last purchased by Peter Sperling, incoming chairman of Apollo Group Inc., who paid $32 million in 2002, said David Barrett of listing brokerage Warwick Properties Group.

“It’s built to be the finest residence in San Francisco, from limestone quarried in France and with the same glaziers who worked on the Eiffel Tower renovation,” Barrett said.

In December, Jay Paul, the San Francisco developer of 6 million square feet of Silicon Valley offices, including Google’s four-building complex in Sunnyvale, completed a purchase in the same neighborhood, said a person with knowledge of the transaction. The house sold for $28.25 million, said Dona Crowder of TRI Coldwell Banker, a co-listing broker on the home. She declined to comment on the buyer.

Seller deals

The deal was at a 48 percent discount from the asking price in 2007, around the time U.S. housing prices peaked. The seller had most recently sought $34 million, Crowder said.

Paul didn’t return a telephone message seeking comment.

In some cases, luxury discounts this past year in San Francisco and the Silicon Valley are a reflection of aged homes built decades ago that needed extensive renovations, Crowder said. Sellers were also motivated by the prospect of higher capital gains taxes in 2013, she said. Her listing on Broadway in Pacific Heights received higher bids in the past, including one earlier in 2012, which were rejected by the seller, she said.

“The generations are turning over in this neighborhood,” Crowder said in a phone interview. “If it were understood back then that record prices were being offered, it would have been wise to sell” in 2007.

Dorsey, Benioff

Jack Dorsey, a Twitter co-founder, paid $9.9 million in February for a “humble” two-bedroom house in Sea Cliff that had been listed for $12.5 million, said Olivia Hsu Decker, owner of Tiburon’s Decker Bullock Sotheby’s International Realty and Dorsey’s agent on the deal. Salesforce.com CEO Marc Benioff bought a nearby house in 2009, Decker said.

The Sea Cliff neighborhood is named for its location high above the Pacific Ocean, just west of the Golden Gate. In May, Dorsey, who is known to take public buses to work, tweeted a quote from the Chilean poet Pablo Neruda, “I need the sea because it teaches me,” Decker said.

Other multimillion-dollar home buyers of 2012 included Mark Pincus, founder of online game maker Zynga. He purchased a Pacific Heights house in July for $16 million after a $500,000 price cut, said Decker, who represented him in the past and also was the listing agent for the Belvedere home.

Rising prices

The region’s broader housing market is also showing strong demand, bolstered by the addition of 32,400 new jobs in the San Francisco metropolitan area in the year through November. House and condominium prices in the nine-county Bay Area in November rose almost 21 percent from a year earlier to a median $438,000, the highest since August 2008, according to DataQuick of San Diego. Sales jumped almost 16 percent.

Dan Levy is a Bloomberg writer. E-mail: dlevy13@bloomberg.net

Article source: http://www.sfgate.com/realestate/article/Luxury-Bay-Area-homes-selling-briskly-4160241.php

DANVILLE, Calif., Oct. 8, 2012 /PRNewswire-USNewswire/ — Announcing a special recognition appearing in the October, 2012 issue of Diablo published by Diablo Publications, Cynthia Silva was selected for the following honor: “2012 San Francisco East Bay Select Real Estate Agents”

(Logo: http://photos.prnewswire.com/prnh/20121008/DC88622)

Cynthia Silva commented on the recognition: “This is quite an honor for me. The fact that Diablo included me in its selection of “2012 San Francisco East Bay Select Real Estate Agents,” signals that my constant effort to deliver excellent work has paid off. It is gratifying to be recognized in this way.”

About Cynthia Silva: a short profile by and about the honoree:

Cynthia Silva of People Properties, Sotheby’s International Realty specializes in Luxury Properties in the Danville, Alamo, San Francisco East Bay Area. Cynthia has 23 years of full time Real Estate experience bringing a wealth of knowledge to her clientele. Cynthia is consistently a top producer in the East Bay! Please email her at cyn@cynsilva.com or visit her online www.cynsilva.com

Following the publication of Cynthia Silva‘s selection for Diablo‘s 2012 San Francisco East Bay Select Real Estate Agents list, American Registry seconded the honor and added Cynthia Silva to the “Registry of Business Excellence™.” An exclusive recognition plaque, shown here, has been designed to commemorate this honor.

For more information on Cynthia Silva, located in Danville, California, please call 925-580-1430, or visit www.cynsilva.com.

This press release was written by American Registry, LLC with contributions from Cynthia Silva on behalf of Cynthia Silva and was distributed by PR Newswire, a subsidiary of UBM plc.

American Registry, LLC is an independent company that serves businesses and professionals such as Cynthia Silva who have been recognized for excellence. American Registry offers news releases, plaques and The Registry™, an online listing of over 2 million significant business and professional recognitions. Search The Registry™ at http://www.americanregistry.com.

Contact Info: Cynthia Silva Phone: 925-580-1430 Email Address: cyn@cynsilva.com

SOURCE American Registry

Order Reprint

Article source: http://www.sacbee.com/2012/10/08/4892737/cynthia-silva-selected-for-2012.html

Las Vegas, NV (PRWEB) June 09, 2012

According to Luxury Real Estate Partners President Anthony Phillips, the MyLVCondoSales.com website offers Las Vegas condo buyers a host of online tools to make a more informed decision on a Mandarin condo purchase in Las Vegas.

MyLVCondoSales.com is a one-stop source for just about everything a buyer needs to quickly get started on a search for a Las Vegas Condo,” said Mr. Phillips. “From the latest listings, property descriptions, market reports, investment analysis, photos, maps and even social media functions, MyLVCondo Sales.com makes finding the perfect Las Vegas condo quick and easy with just a few clicks.”

The MyLVCondoSales.com website is a high-tech extension of Luxury Real Estate Partners’ highly successful approach to matching luxury properties to discerning buyers through state-of-the-art tools as well as the team’s highly personalized service.

Web visitors to MyLVCondoSales.com will find accurate and detailed information on every available high-rise property in Las Vegas with listings that are updated daily, and include photographs and often high-definition video that beautifully showcases each condo.

Luxury Real Estate Partners recently made the search for Las Vegas condos even faster and easier for prospective buyers who prefer browsing for Las Vegas condos on their mobile devices. Thanks to a new partnership with Smarter Agent, a free app is available for download which provides additional features for smartphone users to narrow their search to a specific price range, property type, number of bedrooms and bathrooms, and other user-defined qualifiers. More information on how to download the Smarter Agent Real Estate app can be found on MyLVCondoSales.com, or the app can be downloaded directly from the Apple, Android, Blackberry and Palm app stores.

In addition to the MyLVCondoSales.com website which focuses exclusively on high-rise Las Vegas condo sales, visitors can link to a number of companion Luxury Real Estate Partner sites. For Las Vegas house hunters searching for single-family homes in the Las Vegas area there is a link to MyLVHomeSales.com. From the website prospective buyers can also link to an expanding list of available properties in other real estate markets that currently include the San Francisco Bay Area (MyBayAreaCondoSales.com), San Diego (MySanDiegoHomeSales.com) and the Phoenix-Scottsdale-Paradise Valley area (www.MyAzHomeSales.com).

Real Estate companies interested in teaming up with Luxury Real Estate Partners to enhance their online presence can find out more about the company by visiting LuxuryRealEstatePartners.com.

About Mandarin Oriental Condos

Mandarin Oriental Las Vegas condos combine the prestige of an internationally-renowned brand, unparalleled amenities, spectacular Strip views, and dramatic design with Mandarin Oriental’s celebrated world-class, five-star hotel service.

For the original version on PRWeb visit: www.prweb.com/releases/prweb2012/6/prweb9585479.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/06/09/prweb9585479.DTL

San Francisco’s luxury home market is showing signs of a turnaround, according to prominent Bay Area Realtor Cece Doricko, who specializes in Forest Hill, Pacific Heights, Cow Hollow and St. Francis Wood, CA real estate. Citing figures from Coldwell Banker’s latest San Francisco Luxury Market Report, Doricko reports a 13.6 percent increase in the number of home sales in the first quarter of 2011 as compared to that of the same period last year.

“Buyers of Pacific Heights luxury real estate and other luxury properties in San Francisco are starting to make their presence felt once again,” says Doricko, “and it’s not surprising why. Homes in these kinds of neighborhoods have always been sought-after and now there are quite a few that are priced lower than they have been for some time. It’s no wonder, then, that buyers who have the means are not letting these opportunities pass them by.”

On a year-over-year basis, the median sale price of San Francisco luxury real estate went down by 4.3 percent in the first quarter though it shows an increase of 3.9 percent when compared to the fourth quarter of 2010. “You won’t be seeing any dramatic price dips in these neighborhoods,” says leading Forest Hill, San Francisco Realtor Doricko. “Properties in areas like Forest Hill and Pacific Heights have always been at a premium, so whatever price declines you’re seeing now are likely to be it, especially since luxury home sales are already trending upwards.”    

Doricko, whose area of expertise includes Cow Hollow, San Francisco luxury homes and properties in Lower Marin County, recently launched a new real estate website, CeceDoricko.com, in anticipation of the market’s eventual recovery. “When people start buying homes again, they are going to need all the relevant and up-to-date information that they can get and this is what I aim to provide via this website.”

To begin exploring the San Francisco luxury home market and to learn more about Doricko’s real estate services, visit her new site, CeceDoricko.com.

###

For the original version on PRWeb visit: www.prweb.com/releases/prwebSanFranciscoRealtor/CeceDoricko/prweb8529269.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/06/09/prweb8529269.DTL

Leading Forest Hill, San Francisco Realtor Cece Doricko reports seeing signs of a turnaround in the city’s luxury home market. More information on current market trends and available properties in Forest Hill, St. Francis Wood, and other premier neighborhoods can be found in Doricko’s newly launched website.

San Francisco, CA (PRWEB) June 09, 2011

San Francisco’s luxury home market is showing signs of a turnaround, according to prominent Bay Area Realtor Cece Doricko, who specializes in Forest Hill, Pacific Heights, Cow Hollow and St. Francis Wood, CA real estate. Citing figures from Coldwell Banker’s latest San Francisco Luxury Market Report, Doricko reports a 13.6 percent increase in the number of home sales in the first quarter of 2011 as compared to that of the same period last year.

“Buyers of Pacific Heights luxury real estate and other luxury properties in San Francisco are starting to make their presence felt once again,” says Doricko, “and it’s not surprising why. Homes in these kinds of neighborhoods have always been sought-after and now there are quite a few that are priced lower than they have been for some time. It’s no wonder, then, that buyers who have the means are not letting these opportunities pass them by.”

On a year-over-year basis, the median sale price of San Francisco luxury real estate went down by 4.3 percent in the first quarter though it shows an increase of 3.9 percent when compared to the fourth quarter of 2010. “You won’t be seeing any dramatic price dips in these neighborhoods,” says leading Forest Hill, San Francisco Realtor Doricko. “Properties in areas like Forest Hill and Pacific Heights have always been at a premium, so whatever price declines you’re seeing now are likely to be it, especially since luxury home sales are already trending upwards.”    

Doricko, whose area of expertise includes Cow Hollow, San Francisco luxury homes and properties in Lower Marin County, recently launched a new real estate website, CeceDoricko.com, in anticipation of the market’s eventual recovery. “When people start buying homes again, they are going to need all the relevant and up-to-date information that they can get and this is what I aim to provide via this website.”

To begin exploring the San Francisco luxury home market and to learn more about Doricko’s real estate services, visit her new site, CeceDoricko.com.

###

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebSanFranciscoRealtor/CeceDoricko/prweb8529269.htm

Join Benzinga.com at The Traders Expo Dallas, June 15-18, 2011 at the Hyatt Regency Dallas at Reunion, where you can meet with renowned trading experts. Register now and prepare for four days that will get you on track for a profitable future! register FREE today!

Article source: http://www.benzinga.com/press-releases/11/06/p1151874/signs-of-a-turnaround-in-san-franciscos-luxury-real-estate-market

It also surprised many who live in the area. Los Altos Hills has been proud of its rural, easy-going roots, which has been in transition with the influx of more monied residents. As much as we know the value of our neighborhoods, a $100 million-dollar home exceeds the imagination of most, since it’s pegged as the most expensive single family home sale in America.

What does that look like? The architect who originally designed the home for Fred Chan and his wife, Annie, told the Wall Street Journal that there was “no budget” for the 18th century French chateau-inspired mansion, that includes tennis courts, indoor and outdoor swimming pools, wine cellar and ballroom, taking up a tidy 25,000 square feet.

Los Altos Hills is one of the wealthiest towns in America. Yet “home compounds” in the 20,000-square-foot range are rare enough that the handful that have been built have raised eyebrows, and caused civic concern that the town could end up with “white elephants” in the future.

In reality, homes in Los Altos Hills are much more modest than the $100 million that the Journal reported was paid by Russian investor Yuri Milner, founder of Digital Sky Technologies. Of course, to 99.9% of Americans, there is nothing modest about owning a $2.2 million home, which was the median home price of Los Altos Hills in February. Much of the action in very high-end luxury properties, however, is generally acknowledged to take place in communities such as Portola Valley or Atherton. 

Between $2.2 and $100 million, where do the values of most Los Altos Hills homes fall? To satisfy my own—and maybe your—curiosity, I pulled from the MLS the ten-most expensive homes that were sold in Los Altos Hills since 2000.

There’s one important caveat. They aren’t likely to actually be the most expensive homes sold. That’s the thing to remember about homes selling in the highest strata: The sales price is usually nowhere to be found on the MLS, the multiple listings service in which most real estate brokers participate.

These types of home sales are made “off market,” when an agent representing a seller makes it known to his or her network that a property is for sale, and buyers who want discretion also rely on a representative to find an appropriate property through networks. But here’s some perspective: In Los Altos Hills and Los Altos, high off-market sales prices talked about have been in the $25-or-30-million range. 

Through bypassing the MLS, the agreed-upon sales price never appears on a publicly visible database. Once the sale is made, don’t expect to find the sales price reflected on the deed at the county recorder’s office, either.

“It’s called California Revenue and Taxation Code 11932,” said Vic Sharma, the head of the Santa Clara County Recording division. Colloquially, in the Recorder’s office, it’s known as “a confidential,” a request to keep the transfer tax amount off the deed, and thus obviate the ability to calculate the sales price from the tax.

Anyone can request a confidential, Sharma said, and has been able to since 1959. You needn’t be a billionaire foreign investor or Donald Trump. If you don’t want people to know how much you paid for your one-bedroom condo next to the landfill, you have as much access to a confidential  as Yuri Milner does.

The tax, of course, is recorded by the county—which needs to get paid—but once it’s logged in, an employee in the Recorder’s office can’t see it nor retrieve it. “I’m not interested, no—it’s not my money,”  Sharma said.

“There’s a lot of speculation on the price, and that’s all I can say.” 

So here are the top ten highest sales prices paid for Los Altos Hills properties, with the usual MLS admonition that the information is deemed reliable but not guaranteed. Remember that the highest visible price of a home sold in Los Altos Hills can easily be lower than that of a non-public, off-market sale in Los Altos:

 1. 13902 Campo Vista Ln – Sold for $14.8 million (2007)

Topping the list is a 6.89 acre property with views of the Bay and the mountains around. The house sitting on the lot has only two bedrooms with 2000 sf. Obviously, the value was in the land.

2. 25751 Elena Rd. – Sold for $12 million (2006)

This newly constructed Mediterranean estate, sitting on a two-acre lot, has six bedrooms and eight and a half baths with 12,000 square feet of living space. Other amenities include a game room, an exercise room, a wine cellar, a pool, and a detached cabana with its own kitchen.

 3. 25810 Vinedo Ln – Sold for $12 million (2005)

This four-acre private gated estate has five bedroom and eight baths with a stunning formal entry, a designer’s kitchen, two offices, a home theatre, and an exercise room. Besides over 12000  sf of living space, it has its own vineyard inside the estate. (This home is currently for sale at $14,995,000.)

 4. 12775 Viscaino Rd – Sold for $12.7 million (2004)

This 7,000+ square-foot home sits on a 2.36 acre lot with six bedrooms and seven baths. Additional features include a guest house, a tennis court, a pool and a pool house.

 5. 12638 La Cresta Ct – Sold for $12 million (2000)

This private gated estate is located on a cul-da-sac lot. The home has five bedrooms and four and a half baths with over 4,800 square feet of living space.

 6. 10285 Magdalena Rd – Sold for $11 million (2008)

A gated Mediterranean estate with views of the Bay and city lights, this property has seven bedrooms and nine and a half baths. Other dramatic features include a wine cellar, an infinity pool and a cabana.

 7. 26000 Alicante Ln – Sold for $10 million (2000)

This 4,000+ square-foot property sits on an acre plus level lot close to town. It has four bedrooms and three baths, and a tennis court and a pool.

8. 13815 Barton Ct – Sold for $9.95 million (2009)

This gated Tuscan retreat, sitting on an acre-plus lot not too far from the village, was built in 2007. The three-level home has a basement with elevator and handicap access. With over 7,000 square feet of living space, it has five bedrooms and six baths.

 9. 27241 Altamont Rd – Sold for $9.5 million (2000)

This six acre plus estate, with magnificent bay views, has over 6000 sf of living space with six bedrooms and four baths.

 10. 13350 Country Wy – Sold for $9.1 million (2000)

This 2.4 acre estate boosts magnificent views of the wooded hill. The home has five bedrooms with three and a half baths with close to 6,000 square feet of living space.

Los Altos Patch editor L.A. Chung contributed to this report

Article source: http://losaltos.patch.com/articles/estimated-100-million-home-sale-places-spotlight-on-real-estate-in-los-altos-hills