ReportWire

Tag: real estate

  • Trump Organization found guilty in executive tax-fraud scheme

    Trump Organization found guilty in executive tax-fraud scheme

    [ad_1]

    NEW YORK — Donald Trump’s company was convicted of tax fraud on Tuesday in a case brought by the Manhattan District Attorney, a significant repudiation of financial practices at the former president’s business.

    A jury found two corporate entities at the Trump Organization guilty on all 17 counts, including conspiracy charges and falsifying business records.

    The verdict came on the second day of deliberations following a trial in which the Trump Organization was accused of being complicit in a scheme by top executives to avoid paying personal income taxes on job perks such as rent-free apartments and luxury cars.

    The conviction is a validation for New York prosecutors, who have spent three years investigating the former president and his businesses, though the penalties aren’t expected to be severe enough to jeopardize the future of Trump’s company.

    As punishment, the Trump Organization could be fined up to $1.6 million — a relatively small amount for a company of its size, though the conviction might make some of its future deals more complicated.

    Trump, who recently announced he was running for president again, has said the case against his company was part of a politically motivated “witch hunt” waged against him by vindictive Democrats.

    Trump himself was not on trial but prosecutors alleged he “knew exactly what was going on” with the scheme, though he and the company’s lawyers have denied that.

    The case against the company was built largely around testimony from the Trump Organization’s former finance chief, Allen Weisselberg, who previously pleaded guilty to charges that he manipulated the company’s books and his own compensation package to illegally reduce his taxes.

    Weisselberg testified in exchange for a promised five-month jail sentence.

    To convict the Trump Organization, prosecutors had to convince jurors that Weisselberg or his subordinate, Senior Vice President and Controller Jeffrey McConney, were “high managerial” agents acting on the company’s behalf and that the company also benefited from his scheme.

    Trump Organization lawyers repeated the mantra “Weisselberg did it for Weisselberg” throughout the monthlong trial. They contended the executive had gone rogue and betrayed the company’s trust. No one in the Trump family or the company was to blame, they argued.

    Though he testified as a prosecution witness, Weisselberg also attempted to take responsibility on the witness stand, saying nobody in the Trump family knew what he was doing.

    “It was my own personal greed that led to this,” an emotional Weisselberg testified.

    Weisselberg, who pleaded guilty to dodging taxes on $1.7 million in fringe benefits, testified that he and McConney conspired to hide that extra compensation from his income by deducting their cost from his pre-tax salary and issuing falsified W-2 forms.

    During his closing argument, prosecutor Joshua Steinglass attempted to refute the claim that Trump knew nothing about the scheme. He showed jurors a lease Trump signed for Weisselberg’s company-paid apartment and a memo Trump initialed authorizing a pay cut for another executive who got perks.

    “Mr. Trump is explicitly sanctioning tax fraud,” Steinglass argued.

    The verdict doesn’t end Trump’s battle with Manhattan District Attorney Alvin Bragg, a Democrat who took office in January.

    Bragg has said that a related investigation of Trump that began under his predecessor, District Attorney Cyrus Vance Jr., is “active and ongoing.”

    In that wide-ranging probe, investigators have examined whether Trump misled banks and others about the value of his real estate holdings, golf courses and other assets — allegations at the heart of New York Attorney General Letitia James’ pending lawsuit against the former president and his company.

    The district attorney’s office has also investigated whether any state laws were broken when Trump’s allies made payments to two women who claimed to have had sexual affairs with the Republican years ago.

    Near the end of his tenure last year, Vance directed deputies to present evidence to a grand jury for a possible indictment of Trump. After taking office, though, Bragg let that grand jury disband so he could give the case a fresh look.

    On Monday, he confirmed that a new lead prosecutor had been brought on to handle that investigation, signaling again that it was still active.

    [ad_2]

    Source link

  • Inside a Modern Palm Beach Manor – Sotheby´s International Realty | Blog

    Inside a Modern Palm Beach Manor – Sotheby´s International Realty | Blog

    [ad_1]

    By the time renowned architect Addison Mizner arrived in Palm Beach in 1918, he had spent time in Guatemala and southern Europe, where he acquired a knowledge of and love for the local architectural styles. He sensed that homes in Palm Beach—itself a tropical island tucked between the Intracoastal Waterway and the Atlantic Ocean—should more closely resemble the villas and palazzi of the Mediterranean and other warm climes rather than the traditional homes and townhouses of the American northeast. That intuition led to a career that helped define Palm Beach style. Mizner’s calling card became his legacy and that of the city itself, respected and replicated by architects for decades to come.

    Palm Beach, Florida | Heidi Wicky, Sotheby’s International Realty – Palm Beach Brokerage

    This magnificent modern Mediterranean-inspired estate bears the hallmarks of Mizner’s influence, featuring rooflines clad in terra-cotta barrel tiles, thriving colorful gardens, dramatic arched windows, ornate wrought-iron balconies, and loggias. It makes the most of its rarefied location with some 117 feet of direct frontage on the Intracoastal Waterway and a private 100- by 40-foot dock that encourages enjoyment of all manner of water sports and diversions.

    The foyer offers a fittingly elegant introduction, with its stone tile floors, soaring ceiling, and gracefully curving staircase accented by an ornamental iron railing. Perfectly scaled for grand living and entertaining, the formal living room features a pecky cypress ceiling, an oversized fireplace, and three tall arched doorways affording a view of and access to the lush lawn and sparkling water.

    Nearby is the formal dining room, which boasts a water view and a striking ceiling treatment. Eye-catching ceilings continue in the relaxed family room, which is warmed by a fireplace and has arched windows and doors offering a coveted coastal view—an outlook also enjoyed by the library, which is equipped with a wall of built-in bookshelves. The cook’s kitchen offers ample handsome cabinetry, a farm sink, granite countertops, a suite of superior appliances, and a sunny breakfast area. Facilitating festivities year-round are a capacious wine cellar and a lofty loggia with an outdoor kitchen and an enviable view.

    Among the private quarters, the owner’s suite is a refined retreat with a sitting room, two luxurious baths, and two well-appointed walk-in closets. The four guest bedrooms are restful, sophisticated spaces in their own right. Outdoors, loggias give way to a sun-washed terrace and an alluring swimming pool and spa—all perched on the brink of the water, beneath beautiful blue skies and towering palms. This is the epitome of luxurious island living, surely just as Mizner must have envisioned it a century ago.

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

    [ad_2]

    Melissa Couch

    Source link

  • S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hikes

    S&P 500, Nasdaq post worst day in month after strong data fuels worry about Fed rate hikes

    [ad_1]

    The S&P 500 and Nasdaq Composite indexes recorded their worst day in almost a month on Monday, after a hotter-than-expected U.S. services-sector reading fueled concerns that the Federal Reserve may need to be even more aggressive in its inflation battle.

    How stocks traded
    • The Dow Jones Industrial Average
      DJIA,
      -0.26%
      finished down 482.78 points, or 1.4%, at 33,947.10.

    • The S&P 500
      SPX,
      -1.79%
      ended 72.86 points lower, or 1.8%, at 3,998.84.

    • The Nasdaq Composite
      COMP,
      -11.01%
      closed down 221.56 points, or 1.9%, at 11,239.94.

    • Those were the largest declines for the S&P 500 and Nasdaq Composite since Nov. 9, according to Dow Jones Market Data.

    Stocks finished mixed on Friday, although they clinched gains last week, following a robust November jobs report, which stoked fears that inflation might not be so easily defeated.

    What drove markets

    Strong wage growth numbers released Friday were followed up on Monday by a robust reading for the U.S. services sector — both of which helped to stoke fears that the Fed’s interest-rate hikes, along with the central bank’s modest balance-sheet unwind, haven’t had much of an impact on the tight labor market.

    The ISM barometer of U.S. business conditions in the service sector came in stronger than expected, rising to 56.5% in November, a healthy showing that signals the U.S. economy is still expanding at a steady pace.

    “If nothing else, the ISM services report is being interpreted as very strong, and thus the economy is overheating and that means more Fed tightening,” said Will Compernolle, a senior economist at FHN Financial in New York. “Consumer resilience has proven to be more intense than I would have expected. In the two most interest-rate sensitive sectors — housing and autos — tightening has channeled into markets in meaningful ways.”

    But there has been so much pent-up demand, that higher interest rates haven’t been cooling overall spending as much as the Fed would like because companies are still having to fill a backlog of orders, he said via phone.

    In other economic data, the final November S&P Global U.S. services PMI edged up to 46.2 from 46.1, but remained in contractionary territory.

    November jobs data released on Friday showed average hourly wages grew over the past year by more than 5% as of November, beating economists’ expectations and stoking concerns that robust wage growth would continue to fuel inflation, market strategists said.

    Worries about a more-aggressive Fed also helped to drive Treasury yields higher, adding to the pressure on stocks. The yield on the 10-year note rose 9.6 basis points to 3.6% on Monday. Treasury yields move inversely to prices, and yields had fallen sharply over the past month, driven by shifting expectations about the pace of Fed rate hikes.

    Monday’s ISM services figure “surprised to the upside, suggesting that the economy is still running above its long-run sustainable path and that the Fed is going to have to slow the economy more than expected in 2023,” Bill Adams, the Dallas-based chief economist for Comerica Inc. CMA, said via phone.

    In other markets news, signs that China’s government is easing its COVID restrictions helped Hong Kong’s Hang Seng Index
    HSI,
    +4.51%
    finish with a 4.5% gain.

    See also: Chinese ADRs and casino operators rally on signs of easing COVID

    Meanwhile, oil futures ended lower on Monday, a day after Sunday’s decision by OPEC and its allies to keep production quotas unchanged.

    Falling equity prices helped drive the CBOE Volatility Index
    VIX,
    +8.87%    ,
    also known as the VIX, back above 20 on Monday. The volatility gauge had fallen sharply in recent weeks as stocks rallied, potentially signaling complacency that could ultimately hurt stocks, said Jonathan Krinsky, chief market technician at BTIG, in a note to clients.

    Companies in focus

    ––Jamie Chisholm contributed reporting to this article.

    [ad_2]

    Source link

  • 5 Major Leasing Deal Points to Know Before Signing a Lease

    5 Major Leasing Deal Points to Know Before Signing a Lease

    [ad_1]

    Opinions expressed by Entrepreneur contributors are their own.

    Are you thinking about leasing a space in a retail center? If so, there are many items a tenant needs to be aware of. Here’s a list of five major deal points to be mindful of.

    Related: Running a Business – How to Lease Space

    1. Guarantees

    Many landlords will not lease to a tenant without the tenant personally guaranteeing the lease. Keep in mind that there are techniques a tenant can endeavor to lessen the guarantee. These include offering a limited or rolling guarantee. The limited guarantee will not last for the entire lease term but for the number of years agreed on by the landlord and tenant. The rolling guarantee means that the total exposure the tenant is liable for is the number of months agreed to, regardless of the months remaining in the lease (unless the remaining months are less than the rolling months).

    If you decide to give any personal guarantee, I highly recommend you consult your real estate attorney to understand the guarantee’s implications fully.

    Related: 5 Keys in Negotiating an Office Lease

    2. Use

    When leasing space, it’s essential to be very clear on your use of the premises. Your use in your lease is the only one you have permission to use the premises for. If you decide to expand your business beyond that use, you would need authorization from the landlord for that other use. Also, if you do not have an exclusive in your lease, nothing stops the landlord from leasing to another tenant in your same center, with the same use.

    3. HVAC (heating, ventilation, and air conditioning)

    Not only is it imperative to know specific to the existing HVAC regarding capacity and age, but it is also significant to understand your lease if the HVAC breaks.

    Let’s start first with capacity and age. You need to know if the current HVAC needs to have the capacity you need to operate your business. Capacity is typically not an issue if the space has been leased to another tenant prior and you are opening a retail location where you are selling soft goods. Still, there are other uses where the capacity of HVAC plays a significant role. For example, if you are opening a restaurant, you must know what size HVAC you need to run your business successfully.

    Once you have identified if the existing HVAC will work for your use, you need to know the age. If the unit is older, you need to be aware of the age of the unit during your negotiations. Just so you know, it is the tenant’s responsibility to do their due diligence and find out this type of information as soon as possible when considering a space to lease.

    If you find out the unit is older, I recommend you negotiate with the landlord to have it be the landlord’s responsibility to replace the unit before your business opens. If the landlord is unwilling to replace the HVAC, you should negotiate a warranty lasting for a period that you are comfortable with. You also need to determine who is responsible for fixing the HVAC if it breaks during the lease and who’s responsible for replacing the unit if it is not salvageable. This information regarding who is responsible should be in your lease, and you must know and be comfortable with it before you sign your lease.

    Related: How Small Shops Economize by Sharing Space

    4. Options

    A lease option gives the tenant a choice to renew their lease. A tenant needs to recognize that if they do not have any options to renew their lease, then when their original term expires, the landlord is not obligated to renew their lease. Since options benefit tenants, landlords are not eager to give them. Although it is not required of the landlord, it is retail common industry practice for landlords to provide an option to match the initial term of the lease. For example, if a lease is five years for the initial term, considering the industry practice, the landlord would give one five-year option.

    In addition to knowing if you have options and what the term is, it is also important to discern your rent during your options. The rent for your options will probably be higher than the current term, and you must make sure your business plan can support the rent during your options.

    5. Additional charges

    Additional charges — known as NNN or triple net — are the extra charges that a tenant pays in a NNN lease on top of the base rent.

    There are different types of leases. In addition to NNN leases, other types you will hear about include modified gross leases and full-service gross leases. The majority of shopping center leases are triple net leases.

    There are three items that the NNN is composed of, which include the landlord’s property taxes and insurance and the CAM (common area maintenance). CAM typically includes parking lot maintenance, outside lighting and common landscaping. If each space in the building is not separately metered for water, your water will typically be included in the CAM. As a tenant, you should note that the NNN charges are estimated and could change. If the NNN charges adjust, then your rent will also alter.

    My experience reveals that with all negotiations, there is usually a compromise to be made on most deal points. It is critical that all tenants thoroughly read and understand their lease agreement and have a commercial real estate attorney advise before the tenant signs the lease. I also recommend using a commercial real estate broker specializing in retail to represent you during your offer negotiation process.

    Related: Save Money by Renegotiating Your Lease

    [ad_2]

    Roxanne Klein

    Source link

  • New and Notable Luxury Homes for Sale Over $10 Million | December 2022 – Sotheby´s International Realty | Blog

    New and Notable Luxury Homes for Sale Over $10 Million | December 2022 – Sotheby´s International Realty | Blog

    [ad_1]

    From a waterfront home in Miami, Florida, to a grand hacienda in Sevilla, Spain, these are this month’s four featured notable properties for sale over $10 million.

    Newport, Rhode Island

    David Huberman | Gustave White Sotheby’s International Realty

    With a panoramic view of the maritime approach to Stockholm, this magnificent property is situated in a protected location on a south-facing slope.

    Vail, Colorado

    Matthew Blake | LIV Sotheby’s International Realty

    This exceptional penthouse apartment is being finished in what is set to be one of the most luxurious and impressive residential complexes in Dubai.

    Sevilla, Spain

    | Seville Sotheby’s International Realty

    This incredibly rare waterfront estate is one of only four waterfront residences within the nine-home enclave known as The Reed Estate.

    Miami, Florida

    Albert Justo, Mirce Curkoski | ONE Sotheby’s International Realty

    Ths newly-built  modern waterfront home designed by Borges Architects features direct water views.

     

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

    [ad_2]

    Melissa Couch

    Source link

  • Germany’s housing market is ripe for a serious price correction, economists warn

    Germany’s housing market is ripe for a serious price correction, economists warn

    [ad_1]

    The German housing market has been remarkably strong in the last couple of decades, but it faces a serious price correction in the next couple of years, according to some analysts.

    Tim Graham / Contributor / Getty Images

    The German housing market has been remarkably strong for decades, but it faces a serious price correction in the next couple of years, according to analysts.

    Mortgage rates have soared, with a 10-year fixed rate up from 1% to 3.9% since the start of the year, according to Interhyp data, which typically causes demand to cool as fewer people can afford to take out loans.

    House prices have already declined around 5% since March, according to Deutsche Bank data, and they will drop between 20% and 25% in total from peak to trough, forecasts Jochen Moebert, a macroeconomic analyst at the German lender.

    “If you think about mortgage rates of 3.5% or 4% then you need higher rental yields for investors and given that rents are relatively fixed, it’s clear prices have to fall,” Jochen says. Rental income is a priority for German investors, with approximately 5 million people in Germany receiving revenue from renting, according to The Cologne Institute for Economic Research, and the country having the second-lowest share of homeowners of all the OECD countries, according to the Bundesbank.

    While Deutsche Bank doesn’t have specific data for when the bottom will be reached, Jochen said he wouldn’t be surprised if it was over the next six months.

    “We already saw the steepest price declines if you look month-over-month — this was in June and July … In August, September and October the price declines are already below 1% … So there is some positive momentum here if you look from an investor’s perspective.”

    Holger Schmieding, chief economist at Berenberg, anticipates a house price decline of “at least 5% if not a bit more” in the next year.

    “The housing market is softening significantly,” he said, citing a strong decrease in demand for loans and a drop in housing construction.

    And while the language used may vary, many analysts are forecasting a dip in Germany’s housing market.

    “We expected if there was no energy crisis, no recession, prices would increase further. Now we have a situation where we face a very dramatic adjustment of conditions,” Michael Voigtländer from The Cologne Institute for Economic Research told CNBC.

    A recent UBS report went as far as to place two German cities — Frankfurt and Munich — in the top four of its Global Real Estate Bubble Index for 2022, as locations with “pronounced bubble characteristics.” 

    UBS defines “bubble” qualities as a decoupling of housing prices from local incomes and rents and imbalances in the local economy, including excessive lending and construction activity. 

    The definition doesn’t suit the German property market as a whole though, UBS Real Estate Strategist Thomas Veraguth told CNBC.

    The situation in Germany is “not going to be a typical bubble burst as we experienced in the financial crisis … but rather it will be a correction,” Veraguth said.

    “In real terms a bubble burst would be more than 15% decrease in prices and that would be a very, very bad scenario, a very strong, high risk scenario that is not the base case at the moment,” he added.

    A Reuters poll of property market experts last month anticipated German house prices would fall by 3.5% next year.

    A ‘vulnerable’ market

    But not all financial institutions agree that Germany’s property market is set for a large correction.

    “We do see a slowdown in the price growth for residential real estate but it’s not that the overall dynamic has reversed,” Bundesbank Vice President Claudia Buch said in an interview with CNBC’s Joumanna Bercetche last month.

    “On balance, house prices are still rising, albeit at a slower pace,” Buch said. “That said, there are no signs of a severe slump in real estate prices or of overvaluations receding.”

    The Bundesbank will continue to monitor the housing market closely because it is “vulnerable,” according to Buch.

    German central bank sees property market slowdown but no significant correction ahead

    Analysts at S&P Global have also rejected the idea of a “severe slump” in the market. In fact, the financial analytics company said the outlook is stronger than its most recent forecast, published in July.

    “It’s likely we will have to revise up our price forecasts for Germany for this year,” Sylvain Broyer, EMEA chief economist at S&P Global Ratings, told CNBC.

    “We still have very strong demand,” he said.

    Broyer also said it will take time for a change in financial conditions and fiscal tightening to trickle down and affect the housing demand.

    “More than 80% of mortgages in Germany are financed with fixed rates, so many households have locked [in] the very favourable financing conditions we had until very recently for five to 10 years,” he said.

    The Association of German Pfandbrief Banks (VDP) uses information from more than 700 banks to produce its property price index, and data from the latest quarter shows prices were up by 6.1% compared to the previous quarter.

    The organization anticipates we have already seen the peak in Germany property prices “for the time being” but the fundamentals of the market are still working well, according to VDP CEO Jens Tolckmitt.

    The scarcity of housing, increasing rental prices and a strong labor market will continue to support the market, Tolckmitt said, and even if house prices dropped, it wouldn’t necessarily be a bad thing.

    “If house prices reduced by 20%, which we do not expect at the moment, then we would be on the price level of 2020. Is this a problem? Maybe not,” Tolckmitt said.

    “That was the price level we reached after 10 years of price increase,” he added.

    The labor market is key

    Moves in the labor market will determine how the property market shifts, according to some analysts.

    “Should the labor market prove resilient to the technical recession we will have at the end of this year into the next, that is a strong positive for the housing market,” Broyer said. 

    Schmieding made similar comments but over a longer timeframe, saying the medium- to long-term outlook for the German property market “will be good, as long as the country has a buoyant labor market.”

    Commerzbank expects an increase in bad loans, CEO says, but no disaster

    Employment in Germany is at a record high at 75.8%, but with the country likely to slip into “mild recession” in the coming months, that figure could be impacted.

    German GDP figures released last month raised hopes of a milder recession than expected, with the economy having grown slightly more than expected in the third quarter.

    The German economy grew by 0.4% compared to the second quarter and by 1.3% year-on-year, according to the Federal Statistics Office.

    [ad_2]

    Source link

  • ‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on. Do I need professional help?

    ‘I’m paycheck to paycheck.’ I make $350K a year, but have $88K in student loans, $170K in car loans and a mortgage I pay $4,500 a month on. Do I need professional help?

    [ad_1]

    I’m the first of my generation to own a home and the first to earn this much annually and don’t want to mess this up. How, specifically, can a financial adviser help me?


    Getty Images

    Question: By the end of 2022, I will have made $350,000 before taxes as the sole breadwinner and head of household. This is a great starting point and I’m very aware how blessed we are to be in this position, but I’m always looking ahead on how to improve. I currently have $88K left in student loans (originally close to $150K) and very little credit card debt (less than $2K with more than $25K available). I have two auto loans totaling $170K for two electric vehicles at 5% interest.

    I’ve recently been offered a $200K HELOC at 9%, which would help me bring down some of my monthly payments and do some small home repairs and improvements, but I want to make the right moves. And I’ve also been presented with a few long-term real estate investment opportunities that are rental properties out of state and are currently bringing it 10-12% ROI.  But my biggest concern is that after taxes, 401(k) contributions, bills, savings and mortgage ($4,500), on paper I’m paycheck to paycheck. I’d like to use this HELOC to consolidate debt while also participating in some of these investment opportunities. I’m the first of my generation to own a home and the first to earn this much annually and don’t want to mess this up. How, specifically, can a financial adviser help me? (Looking for a new financial adviser too? This tool can help match you with an adviser who might meet your needs.)

    Answer: You have a few questions to tackle here, so let’s go one by one. The first being the HELOC. Yes, HELOCs can be a good way to consolidate debt, but the rate you’re being offered isn’t favorable, as average HELOC rates are a little over 6%. “I would ask if 9% is the best rate you can get, because it appears a bit high,” says Chris Chen, certified financial planner at Insight Financial Strategists. What’s more, “I would like you to consider the potential impact that our Fed policy and inflation are having on interest rates, as HELOCs usually have variable interest rates and we’re in an environment with rising rates. You may start at 9% and end up significantly higher,” says Chen. 

    What’s more, your student loans, car loans and mortgage are all likely less than 9%, so it’s not likely that consolidation via a HELOC would save you money. “You may want to start somewhere different, like the snowball method, where you focus on one loan, usually the smallest one, and direct all of your resources to pay off that loan while maintaining payments on the others,” says Chen. This method could work to finish off your student loans and maybe one of your car loans, to start with. 

    Have an issue with your financial adviser or have questions about hiring a new one? Email picks@marketwatch.com.

    As for those real estate investments, what do you really know about those returns? “With regards to real estate investments, I assume that the 10% to 12% ROI you speak of is the income that you would be getting from the investment. If so, that’s very high and often when you get a return that is significantly higher than the norm, there’s something else that makes the investment less desirable. Be careful,” says Chen. (Looking for a new financial adviser too? This tool can help match you with an adviser who might meet your needs.)

    Certified financial planner Kaleb Paddock says you may actually want to work with a money coach before you work with a financial adviser. Whereas a financial adviser assists with developing investment strategies and long-term financial plans, a money coach offers a more educational experience and focuses on shorter term goals for money management. “A money coach will help you with paying off all of your debts, maximize your cash flow and help you create systems and processes to direct your money proactively,” says Paddock. 

    While having a high income is great, there’s a concept called Parkinson’s Law, which essentially states that your spending will always rise to meet your income no matter how high that income rises, explains Paddock. “Working with a money coach will help you defeat Parkinson’s Law, eliminate your debt and then enable you to supercharge your investing and life planning with a financial adviser,” says Paddock.

    A financial adviser could help too, and Danielle Harrison, certified financial planner at Harrison Financial Planning, says to look for one who does comprehensive financial planning and can help you create a more holistic plan for your money. “They can assist you in the creation of both short and long-term goals and then help you by giving guidance on the financial decisions and opportunities you are presented with,” says Harrison.

    A financial adviser would also help you take a long-term approach to your money and help you create a spending plan where you don’t feel like you’re living paycheck to paycheck on a $350,000 salary. “Everyone has blind spots when it comes to their finances, so finding a competent financial partner can be invaluable,” says Harrison. (Looking for a new financial adviser too? This tool can help match you with an adviser who might meet your needs.)

    Have an issue with your financial adviser or have questions about hiring a new one? Email picks@marketwatch.com.

    *Questions edited for brevity and clarity.

    The advice, recommendations or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our commercial partners.

    [ad_2]

    Source link

  • Rising to the Occasion: 5 Homes with Striking Staircases – Sotheby´s International Realty | Blog

    Rising to the Occasion: 5 Homes with Striking Staircases – Sotheby´s International Realty | Blog

    [ad_1]

    From Connecticut to California, these homes are anchored by dramatic staircases—elegantly ornate and crisply contemporary—that provide glamorous introductions and serve as fascinating focal points.

    Villa la Marina

     Cassidy Hiepler, Linda Rich | Sotheby’s International Realty – Westlake Village Brokerage

    This breathtaking Italian-inspired estate is an architectural tour de force. Highlights include a kitchen with Sub-Zero and Wolf appliances, a loggia, an outdoor kitchen, an indoor-outdoor bar, a wine cellar, a cigar salon, a theater, and a seven-car garage. In the foyer, a striking staircase with an ornate iron railing links the public spaces with the peaceful private quarters. The lush grounds feature a saltwater infinity-edge pool, a pool house, a guest villa, an amphitheater, a fire pit, fruit trees, and vegetable and herb gardens.

    Mediterranean Manor in Texas

     Bryan Beene | Martha Turner Sotheby’s International Realty

    On a cul-de-sac in a desirable gated community, this Mediterranean-style residence is replete with custom details. A vaulted, domed ceiling crowns a foyer with tall arched windows and a gracefully curving staircase that provides a dramatic first impression. Beyond are elegant living and dining rooms, a wet bar and wine grotto, a chef’s kitchen, a main-floor owner’s retreat with a walk-in closet and a spa-like bath, a media room, and three guest suites. Two outdoor kitchens accompany the heated saltwater pool and spa.

    Light-Filled Hamptons Living

    Bodenchak Team | Sotheby’s International Realty – Bridgehampton Brokerage

    Filled with glorious light, this five-bedroom home shares its manicured one-acre grounds with a refreshing infinity-edge pool and spa, a tennis court, and an outdoor kitchen and bar. A dazzling contemporary staircase with glass railings and floating treads rises beside a sunny window wall, linking the levels. The 5,300-square-foot residence also offers a formal living and dining rooms, a media room with surround sound, a kitchen with a waterfall Island and top-tier appliances, and a recreation room with a bar and wine room.

    Traditional Greenwich Grandeur

    Jill Tighe Kelly | Sotheby’s International Realty – Greenwich Brokerage

    Overlooking Partridge Hollow Lake from its 6.13-acre property in a prestigious gated neighborhood, this bright, beautiful 6,124-square-foot manor enjoys idyllic views. A double-height foyer with a butterfly staircase introduces spaces perfectly scaled and appointed for refined living and entertaining: a living room with a fireplace, a formal dining room, a family room with fireplace, a library, a kitchen with a breakfast area, a recreation and billiards room, and a wraparound deck. The park-like grounds offer a pool and a warming fire pit.

    Modern Santa Fe Getaway

    Emily I. Garcia | Sotheby’s International Realty – Santa Fe Brokerage

    This impressive property blends modern design, Santa Fe style, and a resort-like ambience. Sited on 1.4 acres with picturesque views of the Jemez and Ortiz Mountains, the 6,184-square-foot residence was remodeled in 2021 with luxurious fixtures and finishes, including seven fireplaces, plaster walls, high ceilings, and floor-to-ceiling windows. Accented with eye-catching tile, a six-foot-wide skylit staircase leads to the 1,200-square-foot primary suite. The backyard features a portal and deck looking out over a lap pool toward the mountains.

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

    [ad_2]

    Melissa Couch

    Source link

  • There is ‘enormous opportunity’ in REITs, if you choose wisely, says Gilman Hill’s Jenny Harrington

    There is ‘enormous opportunity’ in REITs, if you choose wisely, says Gilman Hill’s Jenny Harrington

    [ad_1]

    [ad_2]

    Source link

  • How to invest in American farmland, with Nuveen Natural Capital’s Martin Davies

    How to invest in American farmland, with Nuveen Natural Capital’s Martin Davies

    [ad_1]

    Share

    Martin Davies, global head of Nuveen Natural Capital, joins ‘The Exchange’ to discuss American farmland as an investment, as an inflation hedge and record increases in farmland value. With CNBC’s Seema Mody.

    [ad_2]

    Source link

  • Luxury Real Estate Headlines: First Week in December 2022 – Sotheby´s International Realty | Blog

    Luxury Real Estate Headlines: First Week in December 2022 – Sotheby´s International Realty | Blog

    [ad_1]

    About Sotheby’s International Realty Affiliates LLC

    Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby’s International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. Sotheby’s International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby’s, the operator of the auction house. The agreement provided for the licensing of the Sotheby’s International Realty name and the development of a full franchise system. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby’s International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable Sotheby’s auction house, established in 1744.

    [ad_2]

    Melissa Couch

    Source link

  • There’s enormous opportunity in REITs, says Gilman Hill’s Jenny Harrington

    There’s enormous opportunity in REITs, says Gilman Hill’s Jenny Harrington

    [ad_1]

    Share

    Jason Snipe, Steve Weiss, Jenny Harrington and Jim Lebenthal join the ‘Halftime Report’ to discuss investment in real estate, the commercial real estate sectors impact on REIT sector and where opportunity lies.

    04:41

    Fri, Dec 2 20221:24 PM EST

    [ad_2]

    Source link

  • Inflation and credit-card debt are on the rise, despite a strong job market. Tell us how the economy is affecting you.

    Inflation and credit-card debt are on the rise, despite a strong job market. Tell us how the economy is affecting you.

    [ad_1]

    We want to hear from readers who have stories to share about the effects of increasing costs and a changing economy. If you’d like to share your experience, write to readerstories@marketwatch.com. Please include your name and the best way to reach you. A reporter may be in touch.

    For many people living in the U.S., these are tough — and confusing — times.

    On Friday, the Labor Department reported 263,000 new jobs in November, while the unemployment rate held steady at 3.7%. Layoffs remain low, despite mass job cuts in the tech sector. Average hourly wages have also risen 5.1% in the past year, but still lag behind inflation for many workers. And there were 10.3 million job openings in October — slightly down from the previous month’s 10.7 million. 

    Some people might see the latest economic data as both challenging and confusing.

    After all, the cost of living rose 7.7% on the year in October. The once red-hot housing market is finally cooling, thanks to mortgage rates that have more than doubled over the last year amid the Federal Reserve’s attempts to rein in inflation, and rents, while moderating, have surged from pre-pandemic levels. Borrowing money to cover increased precarity is becoming more expensive too, with the average credit-card APR at 19.2% as of Nov. 30, according to Bankrate.

    “‘It’s just mind-boggling, the disconnect that we’ve seen.’”

    Given all the conflicting signals, economists say it can be difficult for consumers to know exactly how to feel about the economy right now. “It’s not new, this disparity between the actual facts on the ground about what’s going on in the economy and the sentiment,” said Heidi Shierholz, president of the Economic Policy Institute, a left-leaning think tank. 

    “I remember this summer it was just unambiguously the strongest jobs recovery we’ve had in decades,” she added. “There’s just absolutely zero chance that we were in a recession — not only were we not in a recession, we were in just an extraordinarily fast recovery — and the polling, a huge share of people actually thought we were in a recession. It’s just mind-boggling, the disconnect that we’ve seen.”

    Still, the fact that inflation is eating into people’s savings — and that essential goods like food, energy and housing have spiked in cost — is bound to make many people unhappy. 

    Struggling to pay for rent and food

    “Going into the pandemic, more than seven out of every 10 extremely low-income renters were already spending more than half of their income on rent. And then the pandemic hits; we saw a lot of low-wage workers lose their jobs and see an income decline,” said Andrew Aurand, vice president for research at the National Low Income Housing Coalition. “Then in 2021, we see this huge spike in prices. For a variety of reasons, they’ve struggled for a long time, and since the pandemic, it’s gotten even worse.”

    Moderate-income Americans are struggling too. Maybe you can’t afford your favorite family meals, as the price of grocery store and supermarket purchases has jumped by 12.4% from last year. Or maybe you’re putting off a trip to see family this holiday season thanks to the higher cost of airfare, or you’re worried about losing your job as some business leaders warn of a recession. Perhaps you’re forced to rely on credit cards and personal loans, as credit-card debt is up 15% from a year ago.

    MarketWatch has chronicled many of these changes, detailing renters’ frustrations, families’ tough choices at the grocery store, and the reality faced by would-be home buyers sidelined by higher rates and dwindling affordability. 

    But we would like your help telling an ongoing story about the American economy, centering the experiences of everyday people. Our readers know better than anyone about how today’s economic conditions have impacted their daily lives.

    [ad_2]

    Source link

  • Blackstone limits withdrawals from real estate fund as inflows slow

    Blackstone limits withdrawals from real estate fund as inflows slow

    [ad_1]

    Share

    CNBC’s Jim Cramer and the ‘Squawk on the Street’ team discuss shares of Blackstone after the company limited withdrawals from its real estate investment trust.

    05:09

    Fri, Dec 2 202211:38 AM EST

    [ad_2]

    Source link

  • Home sales could plunge in 2023. These cities could see the biggest dips.

    Home sales could plunge in 2023. These cities could see the biggest dips.

    [ad_1]

    Home sellers should brace themselves for a tough year ahead, with one real estate group forecasting that property sales could tumble in 2023 as more buyers are sidelined by rising mortgage rates and out-of-reach home prices. 

    The number of homes sold will likely plunge 14.1% to 4.53 million homes, representing the lowest number of property transactions since 2012, when the U.S. was still recovering from the housing crash and Great Recession, according to according to Realtor.com’s 2023 Housing Forecast. 

    The pandemic triggered a massive boom in real estate sales, bolstered by a combination of record-low mortgage rates and work-from-home-orders from many employers. Since early 2020, home prices have surged almost 40%, while mortgage rates have more than doubled since year-start, a double-whammy that has priced many buyers out of the market. 

    Sellers may feel the brunt of that impact next year, according to the new Realtor.com forecast. 

    “High home prices and mortgage rates [will] limit the pool of eligible home buyers” in 2023, it said.

    Home sales are expected to dip the most in California and Florida. The biggest decline in sales volume will be in these cities, Realtor.com forecasted:

    • Ventura, California: A decline of -29.1%
    • San Jose, California: -28.8%
    • Bradenton, Florida: -28.7%
    • San Diego, California: -27.3%
    • Palm Bay, Florida: -18.3%
    • Los Angeles, California: -15.8%
    • Tampa, Florida: -15.6%
    • Tucson, Arizona: -14.7%
    • Fresno, California: -13.7%
    • San Francisco: -13.3%

    Possible bright side for sellers

    If there’s a bright side for sellers, it’s that the average sales price in the nation’s top 100 markets is likely to increase next year by an average 5.4%, according to Realtor.com’s 2023 Housing Forecast. 

    Not everyone’s outlook on home prices in 2023 is as sunny. Some economists are predicting that real estate values could plunge by as much as 20% next year due to the surge in mortgage rates and economic uncertainty. 

    Even though Realtor.com is forecasting higher housing prices next year, the pace of escalation represents a slower rate than the blistering increases of the past two years. Prices will be elevated during the first half of 2023, but are likely to fall or stay flat during the second half of next year, Realtor.com’s Chief Economist Danielle Hale told CBS MoneyWatch.

    “We expect, for the year as a whole, 2023 is going to be higher,” Hale said. “Shoppers who want to buy might have to wait a little bit.”

    The elevated prices will be more dramatic in some cities than others, Realtor.com predicted. Metro areas that could see the sharpest increases are:

    • Worcester, Massachusetts: 10.6%
    • Portland, Maine: 10.3%
    • Grand Rapids, Michigan: 10%
    • Providence, Rhode Island: 9.8%
    • Spokane, Washington: 9.6%
    • Springfield, Massachusetts: 8.9%
    • Boise, Idaho: 8.7%
    • Chattanooga, Tennessee: 8.2%
    • Indianapolis, Indiana: 7.8%
    • Milwaukee, Wisconsin: 7.7%

    Those higher prices could be discouraging for buyers who have already faced sharply higher real estate valuations in 2022. Some cities in particular — like Boise, Idaho; and Austin, Texas — saw double-digit percent increases this year. 

    The rising cost of homeownership deterred many aspiring buyers, who have opted instead to continue renting. In a recent survey from LendingTree, nearly half of respondents said they were postponing major decisions, either renting for longer period of time or putting off major home renovations.

    Home prices have fallen in some areas during the tail end of 2022, but mortgage rates have continued to climb. The average interest rate for a 30-year fixed mortgage was about 6.6% this week, more than double what the rate was at the start of the year. 

    Realtor.com expects mortgage rates to climb even further at the beginning of next year as the Federal Reserve continues to raise its benchmark interest rate. Mortgage rates could reach as high as 7.4% in the first half of 2023 before settling down to around 7.1% toward the second half of the year, the company said.

    The combination of higher home prices and mortgage rates in 2023 could push the typical monthly mortgage payment in 2023 to $2,430, or 28% higher than this year, Realtor.com predicted.


    High mortgage rates drive down home sales

    02:09

    Mortgage rates rose so quickly this year that it was at times difficult for buyers to figure out how much home they could afford, Hale said. In 2023, interest rates probably won’t fluctuate as much, she said. 

    “Having more stability will make it easier for buyers when setting the right budget,” she said. “And that should help encourage people to get back into the housing market.”

    With buyers sitting on the sidelines, the number of homes available for sale is expected to climb nearly 23% next year. The upside for buyers is a greater variety of choices, while sellers will be facing more competition. 

    To be sure, all of these predictions could change depending how the Fed handles its fight against inflation next month and early next year, Hale said. The Fed has raised its benchmark rate six times this year, and with each hike mortgage rates have climbed as well. Hale and other economists expect the Fed to raise its rate again next month, but perhaps by not as much as previous increases. 

    Khristopher J. Brooks

    Khristopher J. Brooks is a reporter for CBS MoneyWatch covering business, consumer and financial stories that range from economic inequality and housing issues to bankruptcies and the business of sports.

    [ad_2]

    Source link

  • Watch CNBC’s full interview with Morgan Stanley’s Jim Egan

    Watch CNBC’s full interview with Morgan Stanley’s Jim Egan

    [ad_1]

    Share

    Jim Egan, Morgan Stanley U.S. housing strategist, joins ‘Power Lunch’ to discuss why the housing market is going to get worse, why housing starts and sales are poised to fall lower and how insurance prices play into the housing market.

    [ad_2]

    Source link

  • Why Costa Rica is a Hub for Sustainable Home Design – Sotheby´s International Realty | Blog

    Why Costa Rica is a Hub for Sustainable Home Design – Sotheby´s International Realty | Blog

    [ad_1]

    Brian Neal – Costa Rica Sotheby’s International Realty

    Costa Rica has never been afraid to buck convention. In 1948, the tiny Latin American country retired its military so it could put more money into health and education. It also reversed the destructive deforestation common across South and Central America in order to show the world that land doesn’t have to be agricultural to be productive.

    Now, rather than going against the trends, Costa Rica is the trend. The country serves as a practical paragon of how a society can successfully embrace a green economy and embody the principles of sustainable development and design. 

    Costa Rica’s commitment to sustainable design doesn’t just extend to its industry and infrastructure. The country is also home to astonishingly beautiful and innovative architecture, including luxury residences that set a new standard for their ecologically sound ethics and aesthetics.

    A Conflux of Flora and Fauna

    Wijbrand Tuinstra – Costa Rica Sotheby’s International Realty

    Built from natural and sustainable materials, boasting eco-friendly appliances, and fuelled by renewable energy, this modern villa in La Cruz encapsulates everything that makes Costa Rica such a premier environmental destination. That’s especially true when looking at its location.

    Despite comprising just 0.03% of the earth’s surface, Costa Rica houses more than 6% of its biodiversity, and 3.5% of the ocean’s marine life shelters on its shores. So this home, poised perfectly between the jungle and the beach, is set amid a rich ecological sanctuary.

    Protect the Pristine Biosphere

    Wijbrand Tuinstra – Costa Rica Sotheby’s International Realty

    With such a huge variety of animals and vegetation, the Oda Península Eco Lodge couldn’t be more suitably placed. The Saimiri Wildlife Refuge surrounds it on all sides and the Corcovado National Park is situated nearby. And as it’s part of the Golfo Dulce Forestry Reserve, no logging will happen here or on the adjacent properties.

    This level of environmental preservation is now the norm in Costa Rica, as more than a quarter of the country’s land is conserved through a network of 28 national parks.

    Nature Cultivates Collective Joy

    Paula Zúñiga – Costa Rica Sotheby’s International Realty

    It’s no wonder that Costa Rica is known for the quality of its resorts—just look at Casa Natura, situated on a gorgeous green golf course and sporting the longest saltwater pool in the Hacienda Pinilla resort.

    In 1994, Costa Ricans were guaranteed the right to a healthy environment through the country’s constitution. After all, it’s a well-established fact that proximity to nature is great for physical and mental well-being—and this home is about as close to nature as it gets.

    An Abundance of Clean Energy

    Brian Neal – Costa Rica Sotheby’s International Realty

    Costa Rica is showing the world that sustainability isn’t a compromise: modern convenience doesn’t have to come at the cost of the environment. Villa Esperanza demonstrates this exquisitely, sparing no expense in its luxurious details while still enabling eco-friendly living.

    In Costa Rica, this is the rule rather than the exception, since approximately 99% of the nation’s energy is now generated from renewable sources including hydroelectric, geothermal, wind, and solar power.

    Life’s Better Beneath the Trees

    Costa Rica Sotheby’s International Realty

    Not only does Costa Rica’s power grid not contribute to pollution or greenhouse gas emissions; the country’s dense forest canopy is simultaneously purifying the air and extracting carbon from the atmosphere. And Casa Pacifico is doing its part as well, with extensive grounds covered in lush trees and a bed of fertile soil on its roof.

    Today, Costa Rica is 98% free of deforestation—a remarkable recovery given that its forest cover had fallen to 21% as recently as 1987. The country’s restoration of its natural biosphere has been purposeful and profound, and today more than half the land is home to thriving jungle.

    Costa Rica is proving to the world that another type of lifestyle is not only possible, but readily attainable. It’s a lifestyle that’s conscientious and compassionate, yet no less comfortable. And even better, it’s a lifestyle that can endure happily for years, decades, and centuries to come.

    Want to learn more about sustainable luxury? Look inside this LEED certified beachfront estate in Hawaii.

    [ad_2]

    Melissa Couch

    Source link

  • Stress in China’s property market is unlikely to come down anytime soon, Knight Frank says

    Stress in China’s property market is unlikely to come down anytime soon, Knight Frank says

    [ad_1]

    © 2022 CNBC LLC. All Rights Reserved. A Division of NBCUniversal

    Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

    Market Data Terms of Use and Disclaimers

    Data also provided by

    [ad_2]

    Source link

  • Salesforce co-CEO Bret Taylor leaving, stock falls after lower-than-expected forecast

    Salesforce co-CEO Bret Taylor leaving, stock falls after lower-than-expected forecast

    [ad_1]

    Salesforce Inc. performed better than expected in the third quarter, but executives issued a fourth-quarter forecast that fell short of expectations on Wednesday and revealed that co-Chief Executive Bret Taylor is leaving the company.

    Salesforce
    CRM,
    +5.65%
    shares fell about 7% after hours, after rising about 5.5% in the regular session to close at $159.97, their fifth gain in the past six sessions. 

    The cloud-software company said in a news release that founder, co-CEO and Chairman Marc Benioff will resume the sole CEO role on Jan. 31. Taylor is the second executive to be elevated to co-CEO with Benioff, only to leave with Benioff still in charge. Keith Block stepped down in February 2020 after just 18 months in the position, and Taylor lasted exactly a year in the co-CEO position after being promoted Nov. 30 of last year.

    “I am grateful for six fantastic years at Salesforce,” Taylor, who was also vice chairman, said in a statement. “Marc was my mentor well before I joined Salesforce and the opportunity to partner with him to lead the most important software company in the world is career-defining. After a lot of reflection, I’ve decided to return to my entrepreneurial roots.”

    See more: Opinion: Salesforce better get used to Marc Benioff in charge, because he keeps chasing off his chosen successors

    On the company’s earnings call, Benioff said “we’re still in a little bit of shock and extremely sad” about Taylor’s exit, but did not answer an analyst’s question about whether he would fill the co-CEO position.

    At least one analyst said he didn’t see the departure coming: “Given that Mr. Taylor was assumed to be the ‘heir apparent’ at CRM, this does bring up a lot of questions in terms of the management team and frankly offsets some of the positive narrative around margins heading into [calendar year 2023],” wrote Kirk Materne, analyst for Evercore ISI, in a note Wednesday.

    Salesforce reported that third-quarter net income fell to $210 million, or 21 cents a share, compared with $468 million, or 47 cents a share, in the year-ago period. Adjusted for stock-based compensation and other costs, earnings were $1.40 a share. Revenue rose to $7.84 billion from $6.86 billion in the year-ago quarter.

    Analysts, who have been expressing concerns about a slowdown in business-software spending, had forecast adjusted earnings of $1.22 a share on revenue of $7.83 billion, according to FactSet.

    “We remain positive on the long-term outlook for Salesforce as front-office applications leader,” Michael Turits, analyst for KeyBanc Capital Markets, wrote ahead of the company’s earnings report. “That said, we remain cautious regarding the near-term outlook given ongoing recession concerns, slowing cloud spend, and weaker conversations we had with a few Salesforce channels this quarter.”

    Those concerns sprung up in the company’s forecast, as Salesforce executives’ guidance fell $900 million short of expectations. They expect fourth-quarter earnings of 23 cents to 25 cents a share on revenue in the range of $7.932 billion to $8.032 billion, and adjusted earnings of $1.35 to $1.37 a share. Analysts had forecast adjusted earnings of $1.44 a share on revenue of $8.94 billion.

    Chief Financial Officer Amy Weaver said on the earnings call that along with the “unpredictable” macroeconomic environment and some slowing in customer spending, the strong dollar had an impact on the company’s showing. “Foreign exchange continued to be a headwind for our results,” she said.

    Still, Weaver said the company remains committed to a goal of operating margins of 25% or above; in the third quarter it was at 22.7%, which she said was a record high. Among the things the company is doing, she said, is taking a measured approach to hiring. Earlier this month, the company confirmed hundreds of layoffs, though it did not address them during the call.

    See: Tech layoffs approach Great Recession levels

    In response to an analyst’s question about employees working from home and the company’s real-estate footprint, Benioff said the San Francisco-based company will have more employees in the office while maintaining the flexibility of remote work. “We’re never going back to how it was, we all know that,” he said. Meanwhile, Weaver said the company is “looking at every aspect of our real estate .”

    Shares of Salesforce have declined about 37% this year. The Dow Jones Industrial Average
    DJIA,
    +2.18%    ,
    whose 30 components include Salesforce, has fallen about 5% year to date, while the S&P 500 index
    SPX,
    +3.09%
    is down almost 15% this year.

    [ad_2]

    Source link

  • Video of the Week: Omaru Bay Retreat in Orapiu, New Zealand – Sotheby´s International Realty | Blog

    Video of the Week: Omaru Bay Retreat in Orapiu, New Zealand – Sotheby´s International Realty | Blog

    [ad_1]

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

    Orapiu, New Zealand | Pene Milne, New Zealand Sotheby’s International Realty

    This heavenly five hectare riparian parcel embodies a visceral spirit of place. Its total redesign by award winning Sumich Chaplin Architects in 2009 has created a priceless sanctuary.

    The timeless home with extensive terraces, helipad, jetty and boat ramp is perfectly nestled in its own secluded northerly position at the head of Omaru Bay. Luxury finishes and graceful proportions cater seamlessly for intimate, romantic living to the wholly extravagant occasion, with water views from all seven suites. A palpable sense of stillness and tranquility envelops you as you move through the grounds via a glade of native amphitheatre and landscaped pasture, along fairway-like headland to an extensive grassed waterfront recreational area. From the astonishing floating infinity pool you look across your own private bay towards the Coromandel and the eastern islands of the Hauraki Gulf – just ten minutes by boat.

    This unrepeatable experience is found so close to the heart of Auckland – 30 minutes drive from Oneroa, 20 minutes from the vehicle ferry, five minutes to the Orapiu passenger ferry – or a mere 10-15 minute helicopter ride from Auckland City.

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

    [ad_2]

    Melissa Couch

    Source link