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Tag: real estate

  • Bring Hygge Home With These 6 Interior Design Tips – Sotheby´s International Realty | Blog

    Bring Hygge Home With These 6 Interior Design Tips – Sotheby´s International Realty | Blog

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    Barcelona & Costa Brava Sotheby’s International Realty

    It’s no coincidence that the word hygge sounds a lot like “hug” when pronounced correctly—“hoo-gah”. The concept is Scandinavian in origin, though Denmark is the nation that elevated it to aspirational lifestyle status. Fittingly enough, hygge-centric designs often create spaces that feel like a warm embrace, fostering a sense of coziness and conviviality along with feelings of wholeness and well-being.

    Naturally, designers and decorators all over the world turn their attention to hygge in the winter months, when comfiness comes at a premium. But for Danes, every season is an opportunity to live the hygge life. Here are six ways to incorporate this style and spirit authentically into your abode.

    The First Rule of Hygge: Togetherness

    As a noun, hygge is a state of being and a state of mind; in Danish, familiehygge is quality time spent with relatives. As an adjective, it’s a descriptor of something that brings joy; hyggesnak is lighthearted chatter, for example.

    Steiger & Cie Sotheby’s International Realty

    It’s therefore suitable that the prime principle of hygge design is congregation, with an emphasis on comfortable furniture where people can relax together. That’s certainly the vibe in this contemporary chalet, set amid the Swiss Alps, where the high ceilings, natural surfaces, and ambient light also take visual cues from hygge.

    The Second Rule of Hygge: Fabrics

    An enfolding sense of softness is another crucial factor in hygge design. Essential elements include rugs and carpets, cushions and pillows, and throws and blankets.

    Marco De Biasi – Italy Sotheby’s International Realty

    In true Scandinavian style, sumptuous softness and practical minimalism are often juxtaposed—simple luxuries achieved via simple materials. This villa in Padua serves as a showcase, with ample bedding and draping set amid spare wooden architecture and furniture.

    The Third Rule of Hygge: Ambient Light

    Two types of light are fundamental to a hygge aesthetic: firelight and natural light. The former can come from a hearth—one the most hygge landmarks in the home—or from candles. The latter can come from large windows, which can impart a connection to nature within the home.

    Serena Boardman – Sotheby’s International Realty – East Side Manhattan Brokerage

    The mood in this historic Upper East Side townhouse is uniquely hygge. A modern renovation has replaced the living room wall with a pristine pane of glass and expansive window seating overlooking the garden, while the refinished mantle remains a central gathering space where a game of chess awaits.

    The Fourth Rule of Hygge: Organics

    As mentioned, natural textures, fibers, and materials are a hallmark of hygge. Wood, stone, ceramic, and wool can all help create this look.

    Barcelona & Costa Brava Sotheby’s International Realty

    But materials aren’t the only organics at the heart of hygge. The ethos of hygge also applies to rediscovering the wonders of analog living, like switching off electronics in order to enjoy life’s simple pleasures. By extension, “organic” also refers to eating; high-quality comfort food, with lots of homemade stew and pastries, represents peak hygge. It’s the main reason to pay attention to the kitchen during a hygge-themed redesign, as demonstrated by this magnificent farmhouse in Costa Brava.

    The Fifth Rule of Hygge: Soft Colors

    Serene settings are often crafted through neutral colors. This has long been practiced in Scandinavian design and decor, so it’s no surprise to see it in hygge homes optimized for peace and wellness. However, neutrals shouldn’t be limited to whites, browns, creams, and beiges.

    Daniela Sprea – Italy Sotheby’s International Realty

    Soft colors, like soft surfaces, instill a sense of bliss and harmony. Pale pastel greens, blues, and pinks, as well as naturalistic patterns such as botanicals, can lend visual inspiration and stimulation. This villa in Lucca’s pastoral hills provides a gorgeous hygge lookbook, with mixed prints and hues that are indulgent without being overwhelming.

    The Sixth Rule of Hygge: The Nook

    Finally, there’s a word in Danish that describes the ideal snug space: hyggekrog. The most accurate translation for it might be “cozy nook”—something all homes should have at least one of.

    Deborah Srb – Sotheby’s International Realty – Southampton Brokerage

    A sheltered corner with a domed or vaulted canopy, a loft-like atmosphere, a scenic window, and a beloved chair and blanket are all necessary to complete the true hygge experience. It’s hard to compete with the nook in this chateau-style beach house, located in Moriches across from the Hamptons.

    Any home can be hygge. As Danish people consistently rank among the world’s happiest, perhaps all homes should be. With that in mind, simply abide by these six design directions and cultivate a space that doesn’t just spark comfort, but continuously kindles and nourishes it.

    Still can’t shake wintery feelings of cold? Dive deeper into how to stay snug during the darkest months of the year with this design mood board.

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    Melissa Couch

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  • Building gains into housing stocks and how to trade the sector

    Building gains into housing stocks and how to trade the sector

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    CNBC’s Diana Olick digs into today’s housing data. With CNBC’s Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, Dan Nathan and Guy Adami.

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  • What to Know Before Signing a Commercial Lease

    What to Know Before Signing a Commercial Lease

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    Opinions expressed by Entrepreneur contributors are their own.

    When it is time to start looking for a commercial space to lease, there are many items to keep in mind. If this is the first time you have leased a commercial space, there are certain factors I recommend you know in advance before beginning your search.

    1. Zoning

    First and foremost, you must understand the concept of zoning. Zoning laws control what types of businesses may operate on any specific property — next, list cities where you are interested in opening your business.

    Once that list is created, you can either go online to the cities’ planning departments’ websites, call the planning departments or visit in person. I recommend you visit in person since it can expedite the process. When you speak to the person in planning, let them know the exact details of the business you will be opening.

    Remember that once you have an address of interest, you will need to check in again with the city. This time you will give the planning department the address and confirm that you can open your business at the address. Also, ask the planning department if your use is permitted by right or by permit. If it is by right then, you should be good to go regarding your use being allowed to operate. However, if the planning department mentions the use is allowed by permit, you will need to ask follow-up questions. The follow-up questions should include finding out what permits you will need, how long they will take to obtain and how much the permit cost.

    Related: 6 Overlooked Investment Opportunities in Commercial Real Estate

    2. Size

    Once you understand the zoning you are looking for, you need to know your ideal space size. If you need to know the square footage for your type of business, I recommend you research it before starting your search. You can quickly get an idea of the size space you need by using the internet and searching square footage and your use. I also recommend walking into similar businesses to get an understanding of space.

    Related: Criteria to Consider When Renting Commercial Space

    3. Customer demographics

    Next on the list is to know who your customers are through demographics. Age, average incomes and population are the key demographics you will want to keep in mind. For reference, in my markets of the Inland Empire and San Gabriel Valley regions of Southern California, most retailers seek sites with a minimum of 100,000 people within a three-mile radius.

    Additionally, you will want to know when your business will be the busiest. If you expect lunch to be critical, you will also want to know the daytime population numbers near the potential space you will be leasing.

    Knowing who your customers are will assist with understanding if visibility is vital to your business. Are you a destination tenant or an impulse tenant? If you are an impulse tenant, you need high visibility. Without high visibility, potential customers will have more difficulty seeing you and will not be able to visit your store.

    An excellent example of an impulse tenant is dessert. People often decide to have ice cream because they see it in a shopping center. Since prime street front space leases at a premium, you will have more leverage with landlords if visibility is not a significant concern for your business.

    Related: What to Do When Your Ideal Customer Isn’t Who You Expected

    4. Traffic counts

    If you need prime visibility, you will also want to pay attention to traffic counts. In commercial real estate, cars per day are examined. As a point of reference, 25,000 vehicles per day on the main street where the site is located is a minimum number many retailers are looking for when high-traffic areas are needed.

    5. Access

    Next to consider is access. It does not matter if you are an impulse or destination tenant. Access is a critical component in deciding on a space to lease. When figuring out the access for a potential site, make sure to drive all streets in all directions. Please pay attention to the road’s lines and whether they are broken. Also, pay attention to street medians and no U-turn signs. You want to make sure your customers will be able to access your business conveniently.

    Related: How to Make Your Product More Accessible to Customers

    6. Signage

    Signage can also be critical. Most centers have monument signs. Often tenants think that if they are leasing a space that had a monument sign prior, they will be able to take over that sign. That is not the case. You only have the right to use a monument sign if it is in your lease.

    When considering a center, I recommend you fully drive the entire center and take pictures of all the monument signs. In your offer, you must include these images of the monument signs and the specific panels you request rights to utilize.

    Related: 5 Major Leasing Deal Points to Know Before Signing a Lease

    It is essential to realize that there are basics in site selection. If your company has done its homework in advance, your site selection process will be simplified when looking for commercial space to lease. If you have an understanding of what you are looking for but also keep an open mind, the process of finding a location will run smoother.

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    Roxanne Klein

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  • New data shows surge in mortgage demand

    New data shows surge in mortgage demand

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    CNBC’s Diana Olick joins ‘Power Lunch’ to discuss the 28 percent surge in mortgage demand, the influence rate dips have on builder sentiment, and the reasons for the slowdown in new home listings.

    03:06

    Wed, Jan 18 20232:45 PM EST

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  • Video of the Week: A Dramatic Modern Retreat in Los Angeles, California – Sotheby´s International Realty | Blog

    Video of the Week: A Dramatic Modern Retreat in Los Angeles, California – Sotheby´s International Realty | Blog

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    Featuring curated videos from the most sought-after destinations the world over, discover this  week’s Video of the Week.

    Los Angeles, California | Sotheby’s International Realty – Beverly Hills Brokerage

    Drenched in sun, this dramatic modern retreat overlooks Nichols Canyon. A gated private driveway is your entree into a vibrant open-air compound designed to stimulate your senses and elevate your spirit with 360 degree views.

    Open living spaces and expansive floor to ceiling glass connect you with the beauty of your natural surroundings. Enjoy the bright living spaces, large balconies and lounging sun deck while basking in the sun by the refreshing pool and outdoor TV area. The surround sound movie theater awaits those movie enthusiasts with all the at home conveniences. Two primary suites and three additional bedrooms await you and your guests when you are ready to retire for the evening.

    The detached guest house can be used as a private retreat or could be transformed into work space or private gym. This over 6,000 square foot smart home is situated on nearly an acre lot above the magic and serenity of Hollywood Hills.

    Discover tours of luxury homes for sale around the world on our award-winning YouTube Channel

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    Melissa Couch

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  • China’s economy looks set for a rebound in 2023, but a lot depends on one variable, KraneShares says

    China’s economy looks set for a rebound in 2023, but a lot depends on one variable, KraneShares says

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    The Bund in Shanghai, China, on Oct. 17, 2022. China’s gross domestic product grew 3% in 2022, less than half of 2021’s rate.

    Qilai Shen | Bloomberg | Getty Images

    China’s economy looks poised for a rebound in 2023, but a lot depends on one variable — the consumer, said investment management firm KraneShares.

    “As external demand falls due to an impending recession in the West, China’s economy must rely more heavily on the consumer,” said KraneShares’ international head, Xiaolin Chen.

    “We believe the reopening may lead to a V-shaped recovery in the share prices of China’s consumer brands in early 2023. The recovery could be driven by pent-up demand, high savings, and a wealth effect as real estate prices recover,” said Chen.

    China’s gross domestic product grew 3% in 2022, less than half of 2021’s rate. The country’s zero-Covid policy, worsening relations with the U.S., as well as the real estate “taper tantrum” in 2022 dampened growth, KraneShares said in a report released last week.

    In December, China pledged to make domestic demand an economic priority.

    “The fallout from regulatory changes affecting the real estate development industry lingered longer than expected despite a commitment from the government to stabilize the sector,” Chen said.

    China’s real estate market slowed down sharply in 2022 as the government tightened restrictions on borrowing by developers.

    Read more about tech and crypto from CNBC Pro

    “Fortunately, reopening and a fresh infusion of capital in China’s real estate development industry have the potential to boost consumer confidence significantly, which would be a catalyst for China markets in 2023,” said Chen.

    Consumer categories

    She noted that internet companies such as Alibaba and Meituan were hit by the tech crackdown, while consumer categories fared better.

    “While offshore stocks (predominantly internet companies) suffered from industry regulations and geopolitical risks, the A-Shares market (predominantly consumer staples, healthcare, and clean technology) benefited from the stimulus and supportive policies,” she said.

    Chen added that emerging sectors such as cloud services and semiconductors, though promising, may take years to contribute significantly to China’s economy.

    “In 2023, we encourage investors to take a holistic view of China’s capital markets, incorporating into any allocation both onshore and offshore stocks and bonds to both manage risks and ensure exposure to the greatest possible opportunity set,” said Chen.

    “We also encourage investors to take a long-term view,” she added.

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  • I ruined my family’s finances by withdrawing from my 401(k) to buy a house – I regret it

    I ruined my family’s finances by withdrawing from my 401(k) to buy a house – I regret it

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    I recently made a panic decision to withdraw all my money from one retirement account and I am now closing on a house in February (about $200,000). I am 36 years old, married and have a 1-year-old. Half of me is regretting it, and I’m worried about next year’s taxes due to the withdrawal and the 10% penalty I paid.

    I have been saving up money with my family in order to buy our first home. Recently, however, interest rates have risen, making me worry that this window to get an affordable house was closing. In a fit of panic, I withdrew all of our $26,000 saved money from my 401(k), putting it in a high-yield savings account (3.75%). We have now chosen a home and will be using around $18,000 of this money for the down payment. 

    I am now worried that I might have to pay income taxes and a penalty for the withdrawal itself. I am extremely anxious over this situation as I feel I have destroyed our family’s financial future and that we cannot afford to pay taxes on the money I withdrew. 

    My main concern or question is, is there a way to tell the IRS that this money is being used toward a house? Retroactively? 

    See: I’m a single dad maxing out my retirement accounts and earning $100,000 – how do I make the most of my retirement dollars?

    Dear reader, 

    The first thing you need to do: Take a breath. Most decisions should not be made in a panic, especially when involving money. 

    Because you withdrew from your 401(k), yes, you will have to pay taxes and a penalty. Had it been a loan, you’d have to pay interest on what you borrowed, but it would be to your own account. Keep in mind however that loans from your employer-based retirement plans are also risky – if you were to separate from your job, for whatever reason, you’d be responsible to pay it back or it would be treated as a distribution.

    I understand your sense of urgency in wanting to buy a home during a more favorable market, but your time now should be spent on getting yourself financially situated and saving for the future. 

    “I wouldn’t advise this or done it this way, but he’s not stuck and it’s not detrimental – it’s just a tough lesson to learn,” said Jordan Benold, a certified financial planner at Benold Financial Planning.  

    Get very serious about your current finances and find a way to earmark a portion of your income to savings if at all possible. There are a few things you should be doing. 

    First, assess how much you will be paying in taxes and penalties. I’m not sure what your tax bracket is, but did this distribution push you into a higher tax bracket? You can use a calculator or talk to an accountant to see what that withdrawal will incur in taxes – then make sure you can pay it, or talk to the Internal Revenue Service about an extension. There are penalties for failing to file your taxes or pay them, and you don’t want to add that on top of your stress. 

    Also see: We have 25 years until retirement and are saving 25% of our income – are we doing it right? And are we saving too much?

    The IRS may not be able to do anything for you in terms of waiving those penalties – though it doesn’t hurt to ask, even if you have to wait on the phone for a while to talk to someone – but communication and attention to detail are key when it comes to your taxes. Getting an IRS agent on the phone and talking through your situation won’t be time wasted. There are so many rules, and an agent can help make sense of your options.

    Read: The days of IRS forgiveness for RMD mistakes may soon be over

    Once you get that sorted, look extremely carefully at whatever money you have coming in and what’s going out. You’re about to close on a home, and that costs money – not just the home itself, but all of the extras associated with closing. You may also need money for insurance, furniture, any repairs and so on if you haven’t factored that in yet, so fit that into your budget for when you sign the papers. Beyond that, list every expense you expect to have for the next 12 months – home insurance and taxes, a mortgage or utilities, groceries, medicine, any other nonnegotiable costs and add it all up. Don’t forget anything – ask your partner if there’s anything you may have forgotten. 

    Then compare it to your income. Are you under? Are you over? What changes can you make without totally draining your happiness? I always advocate for a balance…yes, in some cases you have to omit a few expenses for the time being when building up an emergency savings account or paying down debt, but don’t completely rob yourself of joy or all of your hard work may backfire. If you really need to buckle down, make a separate list of activities and entertainment you can get for free (or as close to free as possible)—walks in the park or on the beach with your partner and child, museums on free days, pot lucks and at-home movie nights with family and friends and so on. 

    Want more actionable tips for your retirement savings journey? Read MarketWatch’s “Retirement Hacks” column

    Earmark a portion of your income to replenish your retirement savings before you try saving for any other goals. (This is separate from an emergency savings account, however – you should have one of those.) You may do that with payroll deductions in your 401(k), or also by allocating some of your savings to an IRA outside of the 401(k). 

    Take some time to learn the rules of your retirement plans. For example, an IRA allows an investor to take $10,000 out of the account penalty-free if it’s for a first-time home purchase (whereas a 401(k) does not have that exception). It may be too late for that, but there are other perks with various retirement accounts. 

    The 401(k) has a higher contribution limit and also comes with the possibility of employer matches (if your company offers it), whereas an IRA allows for penalty-free withdrawals for college. With a traditional IRA, you’d have to pay taxes on the withdrawal, whereas with a Roth IRA you’ve already paid the taxes and won’t have to pay any more for withdrawing from your contributions (you may have to pay taxes on the earnings portion, so follow distribution rules closely).

    Remember – you don’t want to make distributions from your retirement savings for just anything. You can borrow money for a home or college, but you can’t borrow money for retirement, so it’s important to protect those accounts. Familiarize yourself with the pros and cons of all accounts so that you can maximize your savings and diversify your withdrawal options when you finally get to retirement. 

    So just buckle down, get yourself in order and think of the future. “He’s got plenty of time – 30 to 40 years to work,” Benold said. “This might be a distant memory that he hopes he can forget.” 

    Have a question about your own retirement savings? Email us at HelpMeRetire@marketwatch.com

    Readers: Do you have suggestions for this reader? Add them in the comments below.

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  • Sotheby’s International Realty Expands in California – Sotheby´s International Realty | Blog

    Sotheby’s International Realty Expands in California – Sotheby´s International Realty | Blog

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    Photo by Jeremy Bishop

    Sotheby’s International Realty has announced that Richardson Properties has joined the network and will now operate as Richardson Sotheby’s International Realty. The addition marks the brand’s continued growth in California and its 115th office in the state.

    The company is led and managed by Chris Richardson and Brooke Sutton who bring more than 30 years of collective real estate experience. The company will service the entire San Luis Obispo County, in addition to Southern Monterey and Northern Santa Barbara Counties.

    “California’s Central Coast blends lifestyle with location and offers some of the state’s most significant and sought-after real estate,” said Philip White, president and CEO, Sotheby’s International Realty. “I look forward to working with Chris, Brooke, and the entire Richardson Sotheby’s International Realty team. San Luis Obispo County has seen a continuation of buyers looking to call the area home and this company is well situated to best serve the growing interest in the area.”

    “Always staying client-focused is one of our key value pillars and our affiliation with Sotheby’s International Realty supercharges that mission on a global scale,” said Richardson. “Through cutting-edge marketing, data-driven processes, and international brand power, our agents will be able to deliver an experience like no other for their clients. The combination of culture, service, and leadership made the decision to join the Sotheby’s International Realty network a no-brainer for our company.”

    The company has two offices with 50 sales associates. Prior to affiliating with the Sotheby’s International Realty brand, the company earned several prestigious awards and honors, including a position on the Inc. 5000 list of fastest-growing businesses in 2021. Richardson Sotheby’s International Realty is owned and operated by Majestic Realty Holdings, which also operates LIV Sotheby’s International Realty, Crest Sotheby’s International Realty, Desert Sotheby’s International Realty, Group One Sotheby’s International Realty, Las Vegas Sotheby’s International Realty, Sierra Sotheby’s International Realty, Sun Valley Sotheby’s International Realty, and Summit Sotheby’s International Realty.

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    Melissa Couch

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  • This Entrepreneur Created an Index to Help You Measure The True Value of The Real Estate Market

    This Entrepreneur Created an Index to Help You Measure The True Value of The Real Estate Market

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    Jason Hartman is the CEO of Empowered Investor. He sat down with Jessica Abo to discuss an index he developed to help people better understand the real estate market.

    Jessica Abo: Tell us a little bit about Empowered Investor.

    Back in 2003, I tried to become a nationwide real estate investor. It was very difficult without assistance, and I thought, there are probably many other people who would want to invest nationwide as I did, and they would probably want some help. So I created my company and became the first customer.

    What is The Hartman Comparison Index and what problem were you trying to solve when you created it?

    So many people have blind spots because they compare, say the price of real estate, to only one thing, and that one thing — what is it? Of course, it’s the U.S. dollar, and that is a faulty comparison because the U.S. dollar — as we all know with inflation running out of control right now — is a moving target. So why not compare the price of real estate to many things so we can help better understand whether it’s cheap or it’s expensive, and that’s what the HCI or the Hartman Comparison Index does.

    What do you want to share about the index?

    It’s really important for people to have a good measuring stick when they are trying to compare things. That is key. It is all about the right measuring stick. If you only use the U.S. dollar as your only comparison, you are going to have a lot of blind spots and make a lot of mistakes. But also, people need to understand that there’s no such thing as a national housing market in the United States. It is a hugely diverse country and all real estate is local. But to make it simple, I divide it into three types of markets, linear markets, that are the steady, profitable markets that don’t get much attention. Cyclical markets that get all the attention, are the rollercoaster markets that have glorious highs and really ugly lows. And then hybrid markets that are in between the two.

    Over the years, I’ve helped thousands of investors buy properties in linear markets like Indianapolis, Memphis and many others. These are rather boring (in a good reliable way) linear markets. When you look at a price chart going back to the early 80s, it has some ups and downs, but they’re pretty muted, and not very significant. I’ve owned properties in these markets too, reliable boring linear markets. Compare it to where I grew up, Los Angeles, California, and that is a cyclical market where the chart looks like a rollercoaster. It goes up, down, up, down, up, down, so it’s kind of crazy and unreliable and no cash flow. This is why I prefer linear and hybrid markets over cyclical markets.

    Why is all of this important?

    We are comparison creatures. That’s what we humans do all day long with every single decision we make. Even when it’s subconscious, we are constantly comparing things to understand the value and utility of anything. So we compare houses, we compare potential mates in the dating market. We compare everything when we’re at the grocery store. We’re comparing — we’re constantly comparing, and that’s what the HCI does with real estate valuation.

    So for example, if you take gold — gold has been considered money by billions of people around the world for thousands of years. When you price real estate in gold, it’s not really nearly as expensive as people think. In 1970, the median price house was $23,000 and it took 654 ounces of gold to buy the median price house. Today it only takes 227 ounces of gold. In gold, is it cheap or expensive? It’s not the cheapest it’s ever been, but it’s certainly not very expensive either.

    Oil is one of the most important commodities in the world. In 1970, if you wanted to buy a median-priced house, it would take 6,400 barrels of oil. Today it only takes 4,100. So priced in oil, it’s cheaper than it was 52 years ago. Same with gold. You could also price it in rice, the food stock, the base food stock of three-quarters of the human race. Buying a house, priced in rice, is around half the price of what it was 52 years ago. And I could go on and on and on. I could compare real estate to the S&P 500 Index. I could compare it to median income, which actually is a little bit more expensive now. I could compare it to copper, I could compare it to alcohol. Okay? Haircuts. I mean just, we can go on and on. We have over 40 items in The Hartman Comparison Index.

    And you see that the mortgage burden is not nearly as high as it’s been historically. I mean, this is the mortgage burden, the percentage of debt service payments versus disposable income. I may surprise some but you can see people aren’t really spending that much on housing compared to their income today. I know people when they see this, they’ll think, ‘Jason, are you kidding me?’ They’re comparing it to what it was like one or two years ago, which was an anomaly, not a proper benchmark. The last Covid-19 era was not a benchmark. It was a fluke, right? We never had that before, with ultra-low mortgage rates before housing prices started to climb.

    So when you really dive into the data, you just see that housing isn’t nearly as expensive as most people think. I’m not saying it’s super cheap either. I’m just saying we need proper perspective. When you back up and look at the big picture, that’s what The Hartman Comparison Index helps people do.

    What are some of your predictions for 2023?

    I would say that we’re definitely going into a recession and we are going to see sales volume continue to soften. Remember, 25% of the country has a mortgage with 28 to 29 years left on it, under 3% interest. 40% of the country has no mortgage at all, and 65% of the country has mortgages under 4%. That will cause people to hoard their cheap mortgages and reduce inventory.

    So, if you want to have a real estate crash and if you’re planning on a real estate crash, you may be disappointed. There are just no indicators of much more than a softening as buyers and sellers reset their expectations. The credit scores of borrowers now are phenomenal. Anyone who bought a house anytime since The Great Recession knows that qualifying for a mortgage was almost impossible. The lenders have been very strict with underwriting standards. The market, it’s just not the same thing as The Great Recession. That was also an anomaly, not a benchmark. 2008 was a once-in-seven-decade event. That was a lifetime event. We hadn’t seen anything like that since the Great Depression of the 1930s.

    Finally, Jason, what do you want to say to the person who is thinking about getting into the real estate market?

    Be careful, and underwrite deals properly. That’s what we teach people how to do and we help them do that. Don’t go to cyclical markets because they will suffer. Those are the markets at the highest risk and the cyclical markets are the West Coast of the United States. The expensive northeastern markets, Boston, New York, DC and where I live, South Florida, are not good places to invest. They’re very risky, but most of the country is a linear market. Low-priced properties with good cash flow, increasing renter population and very good fundamentals. So I would say look for those good linear markets.

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    Jessica Abo

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  • Arizona says developers don’t have enough groundwater to build in desert west of Phoenix

    Arizona says developers don’t have enough groundwater to build in desert west of Phoenix

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    home is being built in in Rio Verde Foothills, Arizona, U.S. on January 7, 2023.

    The Washington Post | Getty Images

    Developers planning to build homes in the desert west of Phoenix don’t have enough groundwater supplies to move forward with their plans, a state modeling report found. 

    Plans to construct homes west of the White Tank Mountains will require alternative sources of water to proceed as the state grapples with a historic megadrought and water shortages, according to the report.

    Water sources are dwindling across the Western United States and mounting restrictions on the Colorado River are affecting all sectors of the economy, including homebuilding. But amid a nationwide housing shortage, developers are bombarding Arizona with plans to build homes even as water shortages worsen.

    The Arizona Department of Water Resources reported that the Lower Hassayampa sub-basin that encompasses the far West Valley of Phoenix is projected to have a total unmet demand of 4.4 million acre-feet of water over a 100-year period. The department therefore can’t move to approve the development of subdivisions solely dependent on groundwater.

    “We must talk about the challenge of our time: Arizona’s decades-long drought, over usage of the Colorado River, and the combined ramifications on our water supply, our forests, and our communities,” Gov. Katie Hobbs said in a statement last week. 

    Developers in the Phoenix area are required to get state certificates proving that they have 100 years’ worth of water supplies in the ground over which they’re building before they’re approved to construct any properties. 

    The megadrought has generated the driest two decades in the West in at least 1,200 years, and human-caused climate change has helped to fuel the conditions. Arizona has experienced cuts to its Colorado River water allocation and now must curb 21% of its water usage from the river, or roughly 592,000 acre-feet each year, an amount that would supply more than 2 million Arizona households annually. 

    Despite warnings that there isn’t enough water to sustain growth in development, some Arizona developers have argued that they can work around diminishing water supplies, saying new homes will have low flow fixtures, drip irrigation, desert landscaping and other drought-friendly measures. More than two dozen housing developments are in the works around Phoenix.

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  • “Reality Is Submerged in Fantasy”: The Villages Is a Boomer’s Utopia—And Demographic Time Bomb

    “Reality Is Submerged in Fantasy”: The Villages Is a Boomer’s Utopia—And Demographic Time Bomb

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    When you consider how the baby boom has affected America, it’s impossible not to contemplate its natural conclusion.

    There was a sudden, unexpected surge in births—and within a decade, diaper services went from a novelty to the equivalent in 2021 dollars of a nearly half‑billion‑dollar industry. Cities rushed to build more schools. Then a bit later America had millions of teenagers, so businesses and industries reorganized around them.

    Over and over, age‑dependent systems struggled to accommodate the encroaching boomers. To use a boom‑appropriate analogy, America has been a nation of Lucille Balls scrambling to handle the conveyor belt of chocolates. And now, more than 75 years into the boom, you might be able to predict which systems will be overrun.

    Harold Schwartz made just such a prediction back in the early 1980s.

    Schwartz had been selling tracts of Florida real estate by mail until the practice was banned in 1968. After a brief foray into mobile‑home parks, Schwartz brought in his son Gary Morse, an advertising executive from Chicago, to overhaul the sales strategy. Morse shifted the focus to houses, including offering prospective retirees a half‑hour “video tape tour” of the concept by mail. The pitch went from shoddy to showbiz.

    The eventual result was the Villages, a series of interconnected housing developments—the “villages” themselves—marketed as an all‑inclusive lifestyle that redirected retirement from senior community centers to senior‑ centered communities. Year after year over the past decade, the Villages landed among the fastest growing regions in the United States. In 2010, the Census Bureau estimated that about 86,000 people lived in the area. By 2020, the population neared 130,000. More than 7 in 10 of those residents are aged 55 or over, the largely inflexible minimum age required to own a home in one of the villages. Most of the Villages is contained within Sumter County, where, in 2003, 21.3 percent of its population were baby boomers. In 2019, 42.8 percent were, the third‑highest percentage of any county in the United States. The Villages grew so fast that, in the past two censuses, it helped Florida’s center of population stop moving toward Miami and start moving back toward Sumter County.

    When I visited the Villages in May 2021, a board listing new residents, broken out by state, had dozens of names. Those were the people who had moved in in less than a week. Ryan Erisman, a writer focused on Florida’s retirement communities, estimated that 2,000 homes are sold in the Villages a year. Other estimates have that figure in a matter of months.

    The developments, often distinguished with vaguely elegant or Spanish‑ish names, line two major thoroughfares. The homes themselves are generally small ranch houses that differ little from one to the next. It’s simple to get lost within or between the developments because of the similarity from one street to the next and because everything’s shifted off‑kilter by dozens of golf courses.

    The villages serve the Villages like a congregation singing in a church: a lot of shaky individual performances that fuses into something with a bit more energy and appeal. People come not for the homes but the amenities— and for the community within and between the developments.

    There’s an insistence to that community; the Villages cannot be an easy place for an introvert. The ubiquitous golf carts often have the names of the passengers emblazoned in script on their hoods, man in the driver’s seat, woman on the passenger side: Dennis and Sally; John and Beth. Signs outside of houses often offer the same information. There’s no excuse for not knowing your neighbor in the Villages.

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    Philip Bump

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  • New Development Spotlight: Palazzo Raggi in Rome, Italy – Sotheby´s International Realty | Blog

    New Development Spotlight: Palazzo Raggi in Rome, Italy – Sotheby´s International Realty | Blog

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    Showcasing the height of new luxury construction in some of the world’s most sought-after locations, let’s explore an exclusive new development from our worldwide network.

    Rome, Italy | Italy Sotheby’s International Realty

    Known as an ancient property owned by illustrious families, Palazzo Raggi is now being restored by the Tamburini Architectural Studio to revitalize its original rooms and create apartments of inestimable value.

    Palazzo Raggi is home to a number of apartments designed by the Scandurra Architectural Studio, each of which is different from the rest. Each apartment is an inimitable work of art, finished in a Classic or Contemporary style and furnished with pieces by luxury brands.

    Living at Palazzo Raggi, residents notice – through every single aspect – a strong emphasis on hospitality that boasts both the charm of a bygone era and the efficiency of today. The services are tailored to those who want to make the most of their time with full peace of mind.

    Discover luxury developments represented by Sotheby’s International Realty around the world

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    Melissa Couch

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  • 9 Places With Small Town Charm and Affordable Home Prices

    9 Places With Small Town Charm and Affordable Home Prices

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    It’s still a ruthless market for homebuyers — especially first-timers. But if you’re looking for small-town charm, there still might be some affordable options.


    Westend61 | Getty Images

    Moosehead Lake in Greenville, Maine

    BestLife spoke to real estate professionals to find the top nine places in the U.S. with small-town charm and affordable housing.

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    Madeline Garfinkle

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  • Keeping it Reel: Enviable Home Theaters – Sotheby´s International Realty | Blog

    Keeping it Reel: Enviable Home Theaters – Sotheby´s International Realty | Blog

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    With carefully chosen lighting, top-tier sound systems, and comfortable seating, these home theaters allow for the celebration of cinema in cozy seclusion.

    Southwestern Stunner

    Gary Bobolsky | Sotheby’s International Realty – Santa Fe Brokerage

    This striking 13,000-square-foot five-bedroom home at the base of the Sandia Mountains in Albuquerque’s gated Tanoan Country Club was painstakingly designed. In addition to captivating views, it features living and dining spaces, a bar, chef’s and caterer’s kitchens, a wine cellar and tasting room, two offices, a billiards and game room, an outdoor kitchen, a gym, and a swimming pool and spa. Movie nights are effortless thanks to a home theater with tiered seating and soundproofing.

    Discover luxury homes for sale and rent around the world on sothebysrealty.com

    Chic Contemporary Villa

    Marc Noah | Sotheby’s International Realty – Beverly Hills Brokerage

    This recently remodeled four-bedroom residence in coveted Cheviot Hills is a serene, stylish oasis. Highlights include a formal living room; an office with thoughtful built-ins; a great room with a vaulted ceiling; a kitchen with Sub-Zero appliances, an island, and a butler’s pantry; a primary suite balcony with a view of the Rancho Park Golf Course; a backyard terrace, saltwater pool, and cabana; and on the lower level, a relaxed home theater and game room with a wet bar.

    Elegant Palm Beach Estate

    The Greg Forest Team | Sotheby’s International Realty – Palm Beach Brokerage

    Enjoying a premier location in the lovely Savoie enclave of Palm Beach Gardens, this light-filled five-bedroom villa was designed for luxurious living and festive entertaining. In addition to five peaceful bedrooms, it features a living room with a soaring ceiling, a renovated chef’s kitchen, a wine bar, a sophisticated dining room, and a refreshing swimming pool with sunset views. The colorful home theater is outfitted with a projector and comfortable built-in seating.

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    Melissa Couch

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  • The condo king of Miami bets his new Fisher Island luxury project can weather a recession

    The condo king of Miami bets his new Fisher Island luxury project can weather a recession

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    Just off the coast of Miami Beach, on ultra-exclusive Fisher Island, there is one crane on one construction site. It is the last plot of land available for development and an unlikely bet on luxury real estate at a time when the housing market appears to be in freefall.

    Jorge Perez, also known as “the condo king of Miami,” and his Related Group are behind the 10-story, 50-unit project that boasts a sell-out price of $1.2 billion. They paid $122.6 million for the land, at the top of the market.

    Units start at $15 million. The project includes a $90 million, 15,000 square foot penthouse and a $55 million ground-floor villa with a half-acre backyard. The building will also have its own slip for mega yachts. Sales just started last month.

    “Almost 30% of the units are spoken for,” said Perez. “Contracts have gone out for over $300 million, and we haven’t really done any marketing. Nevertheless, should the market slow down a little bit, we’re in a fortunate position.”

    Buyers have to put down a 50% non-refundable deposit for pre-construction sales.

    Perez said initial buyers hail from Brazil, New York, Canada, Mexico and Israel. He said he is seeing far more domestic interest than in the past, as Miami had traditionally been a haven for foreign investors. That appears to be echoing all over the city.

    The view from South Florida

    “Miami is an international-focused market – 80-90% international – but it flipped during pandemic,” said Danny Hertzberg, a luxury real estate agent with Coldwell Banker and the Jills Zeder Group. “We’ll continue to have this domestic demand for tax reasons, but at some point political instability or a weaker dollar will pull [international] people in.”

    Miami has been an outlier in the recent decline in both home sales and prices, with prices still quite strong in the city. The high end, however, has not been as resilient. Pending sales of homes priced above $5 million were down 89% in December year over year, according to Miller Samuel, a real estate appraisal firm.  

    “But the one thing to keep in mind in terms of Miami is that inventory is down 60% since pre-pandemic, so what’s different is inventory is extremely limited,” noted Jonathan Miller, CEO of the firm. “That throws out a lot of conventional wisdom on pricing.”

    Miller added that the Fisher Island project, “may not sell in five minutes but it’s not out of the realm of possibility even in this market.”

    The property and its location are both unique. Fisher Island is a 216- acre, ultra-exclusive community, only accessible by ferry or yacht and only open to residents, their guests and guests of the small luxury hotel there. The last condo that sold on the island last year went for $40 million, according to a representative of Related Group.

    Hertzberg said Perez’s new building “checks a lot of boxes” for wealthier buyers who have a new mentality since the start of the pandemic.

    “They want amenities, privacy and security. That’s a major factor there. They want convenience. There is a private school there. Their own restaurants, their own grocery stores. A private beach,” said Herzberg.

    He also noted that instant admission to the golf club for residents is a huge draw. He said there is a five- to seven-year waitlist in greater Miami to join a golf club.

    “I am sure they will sell out. The question of when is what happens in the economy and how aggressive they are on pricing,” said Hertzberg. “If I was betting, they would be top of the list. It just has the right elements for the economy and the world we’re in.”

    What the future may bring

    Perez, who has developed hundreds of properties in South Florida and weathered the massive condo crash during the Great Recession, did not seem at all concerned about the future of his new project.

    “Yes, the market across the country has gone down, particularly in luxury units, but we’re finding that in enclaves that we have, like Fisher Island, we still see a great level of interest from those people that can afford the best,” said Perez. 

    He does, however, worry about the broader economy and the broader real estate market.

    “Of course, it bothers me. It bothers me every day. I wake up every day thinking about you know what is going to happen in the economy,” said Perez. “We’re thinking that interest rates and inflation has pretty much peaked. We’re going to have a rough, in my opinion, one year to a year and a half, two years. And we are ready to weather that storm should it happen.”

    If Perez does get $90 million for the penthouse, it will be the priciest condo to sell in all of South Florida.

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  • Luxury Real Estate Headlines: Second Week in January, 2023 – Sotheby´s International Realty | Blog

    Luxury Real Estate Headlines: Second Week in January, 2023 – Sotheby´s International Realty | Blog

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    Highlights from this week’s top news stories on luxury and global real estate, art, collectibles, and home.

    Charlotte, Vermont | Four Seasons Sotheby’s International Realty

    Perched right on Lake Champlain sits a 12-acre Vermont listing embodying all the characteristics of artistic, pastoral New England living.

    Tour a $2.5M Lakefront Compound in Vermont Where All Things Artistic, Rustic, and Outdoorsy Meet – Cottages & Gardens

    This $68 Million L.A. Mansion Is Anything but ‘Cookie Cutter’ – The Wall Street Journal

    A Scandinavian-Style Getaway Hits the Market in the Hudson Valley – Dwell

    Home Showcase: Bright Gem in East Falmouth – Boston Herald

    Willie Nelson’s Former Tennessee Ranch That Inspired Hit Song Sells for $2.1 Million – People

    Saltwater pools, EV charging stations among amenities most important to luxury homebuyers – Luxury Daily

    A Home Within the Santa Fe Foothills – Cabin Life

    $1.5 Million Homes in California – The New York Times

    What Is a Foyer? – Better Homes & Gardens

    $700,000 Homes in Texas, Virginia and Missouri – The New York Times

    Willie Nelson’s Tennessee home, the inspiration for ‘Shotgun Willie,’ sells for $2.14M – Fox Business

    Homes for Sale in New York and Connecticut – The New York Times

    Is Finishing Your Basement Better for Resale Value? – Better Homes & Gardens

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    Melissa Couch

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  • When Is An “Institution” Not An “Institution”?

    When Is An “Institution” Not An “Institution”?

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    Sellers of real property, especially developers, often impose restrictions on future use of that real property. They do it to protect other nearby real property from uses that are deemed undesirable. These restrictions amount to a form of privately imposed law. At one point they were used to perpetuate segregation, but that practice was invalidated long ago. Even today, private use restrictions still show up all the time.

    A recent New York case demonstrates what can happen when reality confronts the words of one of these restrictions.

    In 1925, someone conveyed a large site near land that now supports a high-end residential subdivision. The 1925 deed said the deeded property could never be used for a laundry list of prohibited purposes, including a brewery, distillery, dram shop, saloon, bar, etc. The list of prohibited uses also included “any hospital or sanatorium, or any institution, other than a club.”

    Nearly a century later, a French school, “an educational institution operating as a not-for-profit corporation,” wanted to establish a private school and campus on part of the restricted property. The neighbors in the high-end residential subdivision sued. They argued that:

    (1) an educational institution is an “institution”;

    (2) the deed prohibited any “institution”; and therefore,

    (3) the deed prohibited the educational institution.

    The court decided it wasn’t that simple. Somehow the court concluded that the phrase “any institution” is “capable of more than one interpretation.” The court didn’t go into any detail on how “any institution” might support possible multiple interpretations, including one that would allow an institution that was educational. The court didn’t lay out the different routes one might use to get to the various possible interpretations of “institution.”

    Instead, the court simply declared that the language at issue – the prohibition of “any institution” – did not prohibit use of the property for an educational institution. Just because. Or perhaps because the prohibition on “any institution” was nestled among other prohibited uses that were clearly undesirable, so “institution” must mean just an undesirable sort of institution, whatever that might be. Some might say a school is undesirable. Certainly the nearby high-end homeowners didn’t desire it.

    Cases like this one drive lawyers who write legal documents to use more words than one might think necessary. They make each point a few times instead of only once. They make each point more clearly than necessary. They know their document needs to be strong enough to leave no opening for judges to come up with counterintuitive interpretations of ordinary words.

    In other words, whoever wrote the prohibition on “any institution” should have listed every possible type of institution that was prohibited. The list might have included educational institutions. Or the people involved in the matter might have decided that certain institutions are acceptable but others are not. Instead, that decision was left for a judge to make almost a century later. The desire of lawyers to prevent such surprises helps drive longer documents, as well as internal consistencies within documents.

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    Joshua Stein, Contributor

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  • NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address | CNN Business

    NYC mayor cites slower economic growth spurred by high office vacancy, cost of migrant crisis and health care, in budget address | CNN Business

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    CNN
     — 

    New York City Mayor Eric Adams unveiled the state of the city’s economic outlook as part of a $102.7 billion budget proposal for 2024 on Thursday, highlighting slow economic growth despite spikes in tourism and jobs.

    Adams touted investments that will be made into public safety and affordable housing while promoting what he called “strong fiscal management.”

    The budget proposal will be voted on by the city council later this year.

    “We crafted this budget in the environment of economic and fiscal uncertainty. While our country has made an amazing recovery since the darkest days of the pandemic, the national economy has slowed as the Federal Reserve raises interest rates to tamp down inflation,” Adams said on Thursday.

    Office vacancy rates are now at a record high as the Adams administration points to the continuing slow pace of workers returning to the office since the pandemic shut down in 2020. The increase in vacancies weakens the commercial office market, according to analysis from the preliminary budget.

    The Adams administration has also pointed to substantial fiscal challenges due to the migrant crisis, which they estimate is now at roughly 40,000 asylum seekers that have come into New York City since last April.

    New York City’s share from a pot of $785 million earmarked for major cities struggling to deal with the migrant crisis won’t cover all the costs from dealing with the situation, according to the preliminary budget.

    Rising health care costs and settling expired labor contracts are also listed as hurdles, according to the preliminary budget.

    Despite the challenges, employment in New York City has grown 4.8% -— outpacing the state, which is at 3.3% and the United States as a whole, which is at 3.2%, according to the preliminary budget.

    Adams said that 88% of jobs lost during the pandemic have been recovered, according to the preliminary budget.

    The Adams administration also boasts $8.3 billion in budget reserves, according to the preliminary budget, which also looks ahead to investments in affordable housing addressing and environmental concerns.

    Over the next 10 years, the city plans to invest $153 million into the development of Willets Point, transforming it from a gritty industrial zone in Queens into a bustling community with 2,500 affordable homes, a soccer stadium, a hotel and public space, according to the preliminary budget.

    The city will also aim to enhance security measures at schools, investing $47.5 million on top of the already $30 million in capital funding to make technological upgrades to doors and entryways, Adams said.

    The city has also earmarked $228 million for high-priority street reconstruction projects, $77 million for signal installation and $46 million to upgrade marine infrastructure in Manhattan and Staten Island.

    “We are focused on governing efficiently and measuring success, not by how much we spend but by our achievements,” Adams said.

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  • Jorge Perez bets on Fisher Island with new luxury condo sales

    Jorge Perez bets on Fisher Island with new luxury condo sales

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    CNBC's Diana Olick reports on new luxury condos sales in Miami's Fisher Island.

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  • 5 Properties Near Wellness Hotspots – Sotheby´s International Realty | Blog

    5 Properties Near Wellness Hotspots – Sotheby´s International Realty | Blog

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    List Sotheby’s International Realty, Japan

    A massage on a white sand beach beneath a luminous afternoon sun. A yoga class overlooking a jungle on a misty morning, as the sun rises. A meditation session surrounded by warm, aromatic candles amid the silence of a moonlit mountain. The demand and desire for such restorative, rejuvenating retreats has reached an all-time high, and it is quickly driving the nearly trillion-dollar wellness tourism industry.

    Yet the ideal luxury wellness sojourn would dispense with the hassle of travel altogether. Imagine the pleasure of residing just a short jaunt away from one of the world’s premier therapeutic destinations. With properties like these, that aspiration can be realized in the most awe-inspiring ways.

    Japan’s Geothermal Hot Springs Are Perfect Bliss

    The northernmost Japanese island of Hokkaido might be most famous for its hot springs, or onsen, but the whole archipelago is home to volcanos. That means there’s no shortage of the cleansing, mineral-enriched baths that occur in their vicinity, made soothing and steamy by the earth’s molten mantle. Hot springs abound around Japan’s most iconic volcano—Mount Fuji—located right in the middle of the main island of Honshu.

    List Sotheby’s International Realty, Japan

    On the southern coast of Honshu, the seaside city of Shizuoka is known for boasting some of the best views of Mt. Fuji—and the proximity of breathtaking crags, plateaus, forests, and beaches are simply an added bonus. This home, with its tranquil setting and traditional architecture, affords access to all of it. The building may be situated on a serene hillside, but Atami Station is just a 10-minute walk away.

    Costa Rica Conjures the Healing Power of Nature

    Just as Costa Rica has taken great care of its resplendent rainforests and biodiversity, the country’s deluxe spas, seasonal retreats, and sustainable ecolodges take great care of their guests. Home to some of Central America’s most covetable and comprehensive wellness experiences, patrons at Costa Rica’s top-tier facilities frequently enjoy relaxing treatments, ultramodern therapies, and mindful movement classes in the presence of some of the planet’s most pristine natural environments.

    Wijbrand Tuinstra – Costa Rica Sotheby’s International Realty

    With this one-of-a-kind property nestled in the Saimiri Wildlife Refuge near Corcovado National Park, it’s possible to create a world-class retreat that’s entirely personal. The 224-acre parcel already plays host to seven private bungalows and seven tented platforms, making for a picturesque glamping getaway. And besides that, there’s the main building—tropical terraces surrounding a scenic sanctuary with enough room for its own restaurant and bar.

    Arizona Furnishes a Pure, Elemental Experience

    Between the dazzling sun and the parched earth, the desert air and the crystal water, Arizona is an intense conflux of natural forces—which is why it’s such an epicenter for health-centric tourism. Bejeweled with its own geothermal springs, it also offers epic, monumental landscapes: stunning stone monoliths that tower, cathedral-like, over wide gullies, and plains grown over with saguaro cactuses. It’s no wonder his place has become a wellness pilgrimage, especially considering the recreational activities on offer, from hiking and horseback riding to paddleboarding and golf.

    Frank Aazami and Dawn Dickinson – Russ Lyon Sotheby’s International Realty

    Several golf courses can be seen from the patio of this gorgeous contemporary estate poised on the slopes of Lone Mountain. Like its namesake location, it’s nicely secluded, having been built in the middle of two large lots—yet it’s actually part of a private community, complete with proprietary guards and secure, triple-gated access.

    India Is Home to the Original Wellness Innovators

    Many of the most popular wellness practices can be traced back to Ayurveda, the ancient system of healing and medicine that has been honed in India for more than three millennia. It’s to be expected that wellness aficionados would be drawn magnetically to this birthplace of naturalistic therapies, and the opulent, prosperous state of Goa has proven to be a top-rated site. Ayurvedic centers and yoga retreats have become a hallmark of its sultry jungles, breathtaking beaches, and vibrant, bohemian villages.

    Karan Singh and Samir Saran – India Sotheby’s International Realty

    This artistic vibe defines Assagao, where this impressive villa sits adjacent to palms and paddy fields. An intriguing perk of this five-bedroom property is its garden. Not only are its patio and pool an idyllic setting for lounging in the tropical sunshine, but the surrounding vegetation has been carefully curated so that aromatic plants and flowers are perpetually in bloom.

    Turks and Caicos Offers a Spa Life Like No Other

    Swathed in the bright blue of the Caribbean Sea, the tropical archipelago of Turks and Caicos is a wellness hub that has elevated relaxation to an art form. Providenciales, or “Provo” as it’s affectionately nicknamed, is the most populous island in the chain, beloved by visitors for its luxurious hotels, spectacular beachfront condos, and views of migrating humpback whales and other marine marvels that traverse its turquoise waters.

    Nina Siegenthaler – Turks & Caicos Sotheby’s International Realty

    Here, it’s possible to do more than just visit a renowned resort—you can live at one year-round. The auspicious Shore Club opened in 2018 with 38 exceptional condos spread throughout two low-rise buildings, along with six detached villas that serve as its pièce de résistance. To own one of these panoramic villas is a rare privilege, as it not only includes private seaside gardens and 5,600 square feet of exquisitely designed living space, but also grants access to the six-star service and amenities exclusive to the resort’s guests.

    Wellness is a lifestyle that should be continuously embraced and indulged, and acquiring a permanent address near an internationally acclaimed wellness hotspot is the ultimate expression of living the good life.

    It’s not just favorable locations that can boost well-being. Learn how to live a healthier life by incorporating biohacking amenities into your home.

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    Melissa Couch

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