Breathtaking Trophy Estate on South Jupiter Island

Jupiter, Florida, United States
$49,500,000
Illustrated Properties Real Estate, Inc.
LuxuryPortfolio.com web ID: HVAG

Georgian Stone Home on 152 Acres

Greenville, Delaware, United States
$18,000,000
Patterson-Schwartz Real Estate
LuxuryPortfolio.com web ID: KMEQ

The Oaks – A Magnificent Estate Home on 17 Acres

Indian Hill, Ohio, United States
$7,900,000
Sibcy Cline Realtors
LuxuryPortfolio.com web ID: YXBF

Spectacular New Gated Estate in the Heart of Brentwood

Brentwood, Tennessee, United States
$6,599,000
Parks Realty
LuxuryPortfolio.com web ID: LZDK

The post LuxeSelect August 2023: Curated homes starting at $3 million appeared first on Luxury Portfolio International.

For the 12th consecutive year, Luxury Portfolio International and Leading Real Estate Companies of the World have partnered with HGTV to put on the contest. Over 1.2 million consumers cast their votes in eight different categories, choosing a beach property in Sarasota, Florida, as the overall winner.

“We are honored and excited that this remarkable property overlooking scenic Point of Rocks captured the attention of so many HGTV House Hunt voters,” said Michael Saunders, founder and CEO of Michael Saunders & Company, the firm listing the winning property, in a statement.

“This stunning seaside sanctuary with private access to Point of Rocks provides an oasis for collecting shells, viewing marine life, snorkeling, paddle-boarding and kayaking.”

The winners

The Sarasota retreat, overlooking the Gulf of Mexico, also won in the “Beachfront Homes” category.

Another Sarasota listing from Michael Saunders & Company came out on top of the “Waterfront Homes” list.

An 1830s mansion in the French Quarter of New Orleans, Louisiana, listed by Latter & Blum, was chosen as the best “Downtown Dwelling.”

A contemporary home in nearby Lafayette, Louisiana, also listed by Latter & Blum, won the “Outdoor Escapes” category.

A Tudor-style mansion in Newtown, Connecticut, listed by William Raveis Real Estate, Mortgage & Insurance, was voted to have the best “Curb Appeal.”

Stonewall Farm, a sprawling estate in Granite Springs, New York, also listed by William Raveis, beat out the competition for “Countryside Retreats.”

The award for “Amazing Kitchen” went to a Denton, Texas, home listed by Ebby Halliday Realtors.

And another Louisiana firm, Rêve Realtors, had the New Orleans listing that won the “Homes With a History” category.

The post HGTV Ultimate House Hunt 2023 winners announced appeared first on Luxury Portfolio International.

Luxury buyers are choosing to relocate to the western desert state in droves to take advantage of its weather, nature and multitude of activities – all of which have made it a favorite vacation destination for decades.

“Luxury buyers who once used their time for R&R in Arizona have begun to turn their focus toward full-time residency,” said Denise Pruitt, Realtor with Scottsdale, Arizona-based Arizona Best Real Estate.

Rising temps

Arizona is certainly becoming a real estate hot spot.

Phoenix, Arizona, became the fifth-largest city in the U.S. in 2021 with a population of over 1.6 million, growing faster than any other major city throughout the decade previous, according to the U.S. Census Bureau.

Also in 2021, five of the top 15 fastest-growing cities in the country were in the state, per the census. In 2022, two – Queen Creek and Maricopa, both near Phoenix to the south and west – remained on the list.

For luxury homebuyers, Phoenix and the nearby Scottsdale and Paradise Valley to the city’s northeast are major hubs, according to Ms. Pruitt, thanks to easy access to the area’s many amenities, especially now that many can work from anywhere.

“Working remotely, for many, has led some to seek destinations like Scottsdale that boast 330-plus sunny days a year, a mild winter climate, breathtaking views, robust dining, retail and cultural resources, hiking, biking, world class golf and other outdoor activities nearby,” Ms. Pruitt said.

Signature high-end events to be enjoyed in the area include the Barrett-Jackson Car Auction, Waste Management Phoenix Open, Arabian Horse Show and, of course, spring training for Major League Baseball.

The weather is another major draw for the Grand Canyon State, in which one can experience the four climate zones that exist between Mexico and Canada in one day from a base in the Phoenix area.

“Try this one on next winter,” Ms. Pruitt said. “You start up in Flagstaff to do a few ski runs at Snow Bowl in the morning, hop back in the car and play a round of golf in Sedona, followed by a wetsuit water-ski run at Lake Pleasant, all in one day as you make the quick two-hour drive between Flagstaff and Phoenix. 

“Many long-time locals like to brag about that one if they’ve ever actually done it,” she said.

Desert dwellings

Maricopa County, Arizona, which includes the Phoenix area, also had the second-highest numeric gains in housing stock from 2021 to 2022, according to the census, sandwiched by two counties in Texas.

This boom in construction is unsurprising given the population growth in the area, and luxury buyers are creating their dream desert homes.

“Privacy, security, open space and a connection with nature remain paramount priorities for many luxury homebuyers who choose to build in Arizona,” Ms. Pruitt said.

Sleek, modern architecture is still popular, although Ms. Pruitt noted a return to rooms and separated spaces as many now work either exclusively or partly from home.

The latest home advancements are also important to include when starting from scratch.

“What is behind the walls is important to the discerning homeowner, who chooses to build to ensure that the latest technologies and ecological elements are woven into the fabric, even when it cannot be seen,” Ms. Pruitt said.

No matter if a home is a new build or not, taking advantage of the weather and outdoors is a must.

“Indoor/outdoor spaces that blend together seamlessly expand opportunities for entertaining and enjoying the Arizona climate, sunsets, local flora, fauna and more,” Ms. Pruitt said.

It is not hard to see why the state is attracting more and more luxury buyers, no matter where they may be flocking from.

“It’s very easy to blend in here, with its relaxed lifestyle surrounded by robust and quality amenities,” Ms. Pruitt said.

The post Arizona a beacon for luxury buyers looking for prime weather and relaxation appeared first on Luxury Portfolio International.

Waterfront Jewel on Siesta Key

Sarasota, Florida, United States
$9,980,000
Michael Saunders & Company
LuxuryPortfolio.com Web ID: BTDX

Gated Royal Palm Deepwater Estate

Boca Raton, Florida, United States
$28,945,000
Premier Estate Properties, Inc.
LuxuryPortfolio.com Web ID: KWBF

Architectural Masterpiece in Cashiers

Cashiers, North Carolina, United States
$9,895,000
Silver Creek Real Estate Group
LuxuryPortfolio.com Web ID: CNLM

Exceptional Storybook Cottage in Northeast Portland

Portland, Oregon, United States
$4,000,000
Windermere Real Estate
LuxuryPortfolio.com Web ID: DZIR

The post LuxeSelect July 2023: Curated homes starting at $3 million appeared first on Luxury Portfolio International.

Luxury Portfolio International and Leading Real Estate Companies of the World are partnering with the real estate and home improvement television channel for the twelfth consecutive year to bring the fun contest to consumers.

Homes from across the United States will be chosen in eight different categories: “Homes with a History,” “Curb Appeal,” “Amazing Kitchens,” “Countryside retreats,” “Downtown Dwellings,” “Waterside Homes,” “Outdoor Escapes” and “Beachfront Homes.”

Although global properties are not eligible for the contest, there is also a gallery of beautiful properties from all over the world that voters can peruse.

Voting for the Ultimate House Hunt began on June 27 and goes through August 3, after which the winners in each category will be announced.

Cast your vote here, and afterwards make sure to enter the sweepstakes to win $10,000.

The post Vote now: HGTV’s Ultimate House Hunt 2023 appeared first on Luxury Portfolio International.

The Epitome of Waterfront Living

Sarasota, Florida, United States
$9,995,000
Michael Saunders & Company
LuxuryPortfolio.com Web ID: UBNX

The Riverdance Estate

Jupiter, Florida, United States
$10,900,000
William Raveis Real Estate, Mortgage & Insurance
LuxuryPortfolio.com Web ID: KPHO

Magnificent Home in Exclusive Escada Estates at Tiburon

Naples, Florida, United States
$7,495,000
William Raveis Real Estate, Mortgage & Insurance
LuxuryPortfolio.com Web ID: CBZG

Unparalleled European-Style Estate

Harding Township, New Jersey, United States
$6,985,000
Turpin Real Estate, Inc.
LuxuryPortfolio.com Web ID: YUBS

The post LuxeSelect June 2023: Curated homes starting at $3 million appeared first on Luxury Portfolio International.

Women account for 54 percent of luxury homeowners under 35, indicating a significant female presence in the purchasing of luxury real estate.

Per a new study from Luxury Portfolio International, more women are climbing the corporate ladder and achieving financial success on their own, with an equal percentage of men and women in corporate leadership – 48 percent – reporting that they hold executive leadership positions. This is reflected in the changing demographics of luxury homeowners.

“Affluent young women are on trajectory to level the playing field, wielding purchasing power, wealth accumulation, education and corporate positions to make serious real estate decisions earlier in their life,” said Mickey Alam Khan, New York-based president of Luxury Portfolio. “This has major ramifications for brands and retailers targeting homeowners and the luxury property sector.”

A family affair

Luxury Portfolio’s research has unveiled some interesting changes and value differences amongst Gen Z and younger millennial luxury consumers.

While men continue to dominate luxury homeownership in older age groups (59 percent of those 35-64), women make up 54 percent of luxury property owners under 35. Forty-eight percent of younger women also report holding executive positions at work.

Family dynamics are changing, as well, with more consumers under 35 remaining single (18 percent) and only 77 percent reporting that they are married. Only 6 percent of the older age groups say they are single and 88 percent are married.

Despite this difference, the younger age group seems to hold higher “family values” than their older counterparts.

While 68 percent of both groups want to ensure generational wealth, 92 percent of those under 35 said they prioritized family financial security versus 87 percent of older homeowners, and 65 percent of those under 35 wanted to provide ongoing financial security for their family versus 56 percent of those 35 and up.

The younger age group also owns more extended-family properties – 52 percent of them do, in fact, compared to just 38 percent of older homeowners.

Priority shifts

When it comes to sustainability, all age groups take small steps, such as using reusable bags and water bottles.

But younger generations are more willing to take big leaps at home: 74 percent said sustainability is a major factor in their home search criteria and 52 percent will pay more for sustainability features, compared to 62 and 47 percent, respectively, for the older generations.

Most luxury homeowners surveyed (91 percent) are considering making more real estate investments.

Multi-family apartment buildings are a popular choice with all age groups.

Interestingly, younger buyers also invest more in office properties (45 percent vs. 37 percent) and properties in college towns (22 percent vs. nine percent). Those under 35 are also looking for vacation homes at a much higher rate.

Unsurprisingly, younger consumers are much more interested in owning digital or metaverse property – 25 percent do so, while only 19 percent of older consumers do.

Agent advice

For real estate agents looking to tap into the market of younger homeowners, they should look no further than these consumers’ favorite luxury brands for inspiration.

While both age groups expect name recognition from their brands of choice, younger generations put high importance on originality, exclusivity, reputation and social responsibility.

When it comes to the skills their agent possesses, all age groups reported similar interest in a real estate professional who has access to exclusive services, attention to detail, a digital marketing strategy and knowledge of the local market.

However, younger homeowners showed a significant preference for the brokerage’s brand affiliation (38 percent vs. 28 percent) and their agent’s ability to use high-tech tools (32 percent vs. 19 percent).

Younger consumers also look to social media for property content such as photos and videos of homes and a behind-the-scenes peek into the luxury market.

However, the digital sphere will not replace in-person visits or the importance of agents any time soon. Forty-three percent of those under 35 also said they prefer a real estate professional as a resource.

The post Women account for 54pc of luxury homeowners under 35: SOLRE report appeared first on Luxury Portfolio International.

Private Palatial French Estate

Dallas, Texas, United States
$8,895,000
Allie Beth Allman & Associates
LuxuryPortfolio.com Web ID: DXIL

Luxury Living at Oceana-Key Biscayne

Key Biscayne, Florida, United States
$9,500,000
The Keyes Company
LuxuryPortfolio.com Web ID: OBEG

Ultimate San Diego Penthouse

San Diego, California, United States
$8,300,000
LuxuryPortfolio.com Web ID: FNAS

Modern Elegance With Peaceful Seclusion

Boca Grande, Florida, United States
$4,695,000
Michael Saunders & Company
LuxuryPortfolio.com Web ID: UGRN

The post LuxeSelect May 2023: Curated homes starting at $3 million appeared first on Luxury Portfolio International.

By MICKEY ALAM KHAN

Among the top U.S. counties with the most second-home transactions in 2023, warm-weather destinations and coastal towns, particularly in Florida, proved to be the most popular among buyers.

Florida dominated the top spots for second-home transactions, with eight of the 15 counties with the highest number of transactions located in the Sunshine State. The findings from second-home marketplace Pacaso were based on Optimal Blue data to identify the top 15 U.S. markets based on counties with the highest number of second home transactions from January 1 to May 3, 2023.

“With the spring homebuying season well underway and nearing the midway point of the year, the housing market continues to face challenges with inventory hitting a pre-pandemic low, leading to rising home prices,” said Pacaso cofounder/CEO Austin Allison in a statement.

“However, despite the recent uptick in mortgage rates, potential homebuyers remain optimistic and are returning to the market, as seen in the increasing number of mortgage applications,” he said.

“We took a look at second-home transactions thus far in 2023 and it is no surprise that Florida dominates the list. The Sunshine State’s beautiful beaches and laid-back lifestyle continue to be major draws for buyers.”

Home run

Maricopa County, Arizona, took the top spot on the list with the largest number of second-home transactions in the country for 2023.

The county’s growing desert cities of Phoenix and Scottsdale offer golf, chef-driven restaurants, hiking trails and entertainment options, making it a popular vacation destination.

Horry County, South Carolina, is the second-most popular location for second homes in 2023, boasting the most affordable second home real estate on the list, with an average value of $375,000, per the study.

Myrtle Beach’s 60 miles of sandy beaches, attractions and celebrity-designed golf courses make it a favorite vacation destination.

Lee County, Florida, rounds out the top three markets with the most second-home transactions in 2023, according to Pacaso.

The county seat of Fort Myers, located on the Gulf of Mexico, is widely recognized and consistently ranked as one of the nation’s top destinations for beachcombing, shelling, kayaking and bird watching.

According to the data, Manatee County, Florida, Broward County, Florida, and Sarasota County, Florida, have seen the greatest year-over-year price appreciation for second-home real estate.

Cape May County, New Jersey, tops the list for the highest price of second-home real estate of the counties with the most second-home transactions in 2023, with an average value of $989,000.

Located on the picturesque Jersey Shore, Cape May County has been a much-loved summer destination for East Coast residents for years and continues to be a top spot for second homes in 2023, per Pacaso.

Avalon, one of the county’s most popular towns, is a favorite among second-home buyers seeking a coastal retreat.

The post Florida takes top spots on Pacaso’s top 15 US second-home markets for 2023 appeared first on Luxury Portfolio International.

After years of speculation, it seems that artificial intelligence (AI) is finally beginning to be adopted by the masses.  

While the technology may at first appear confusing to use and a bit scary to some, it can be a simple tool to enhance the productivity and quality of human work – and real estate professionals are advised to jump on board.  

“The surprising winner, when the dust settles from the AI revolution that we’re just starting to experience, is going to be real estate agents,” said Chris Tosswill, founder/CEO of Addressable, a company that uses AI and robots to send handwritten, personalized notes to targeted homeowners, during Luxury Portfolio’s webinar on AI.

Luxury Portfolio president Mickey Alam Khan hosted the Luxury Hour webinar.

Tech smart

Any major shift in technology can cause discomfort and a change in how people work, but it is important to remember that its purpose is to make work better.

Mr. Tosswill likens the current state of AI to the Industrial Revolution or the dawn of computing in the 1970s and ‘80s.

“At any major turning point in technology, there will always be a shift in the job market, there’ll be a shift in the roles that people have,” he said. “But for those who stay with it and embrace it, there’s always more opportunity created.”

Over the past few years, AI has made major strides in efficacy and ease of use, and thousands of AI product options are being released every month.

“It’s just an overwhelming amount of information that’s out there, but these are things you can actually use,” said Jochen Lucke, president/broker of Silver Creek Real Estate Group in North Carolina, during the webinar.

From analyzing data to scrubbing the Internet to collect information and proofreading marketing copy to writing a full property listing, AI can immediately help real estate brokers and agents gain more of their most important resource – time.

“It’s there to ingest data, it’s there to compute on the fly, and all of this is in the central aim of eliminating what would otherwise be tedious tasks,” said Zane Burnett, chief digital officer of Willis Allen Real Estate in Southern California, during the webinar.

Information highway

Having information is key to any real estate professional, and AI has access to all of the data on the Internet – and the ability to analyze it quickly.

Willis Allen Real Estate is using predictive analytics to better target an audience for its marketing and advertising efforts – people who are more likely to need and use its services.

“We are, on a daily basis, spinning up brand new ads, both on the Internet and general and social media platforms,” Mr. Burnett said.

“Back in the day I would have to sit there and analyze how each ad was performing, what the audience looked like, and then you’d make tweaks,” he said. “And now that’s being done automatically.”

According to Mr. Lucke, there are even AI platforms that will scrape the Web for “possible indicators of somebody moving, based on their searches, based on their shopping habits,” making it easier to find people who are selling and buying homes.

When it comes to communicating with a targeted audience, AI is there to assist again.  

Mr. Burnett has connected Willis Allen’s central leads inbox to AI platform ChatGPT, which sends uses their information from their message and properties of interest to send personalized, automatic responses to hundreds of potential clients.

“Addressable does same thing,” Mr. Tosswill said of his platform. “Using tech to create meaningful connections with homeowners.”

Writing the future

When it comes to more detailed marketing tasks, the possibilities to use AI are already becoming endless.

“If you don’t have a marketing department, or if you do but you have 500 agents, the marketing department will not be able to help you with every listing,” Mr. Lucke said. “This will.”

“We are not wordsmiths, we’re not the creative types, but this can help you tomorrow to create better products, get more engagement and engage with your clients in much different ways,” he said.

Silver Creek is using AI for a number of copywriting tasks, from writing marketing materials to improving listing descriptions or writing them entirely, all optimized for its target audience and for SEO.

“If you list these properties over and over again, you run out of creative ways to sell somebody on them,” Mr. Lucke said.

“AI, with the right prompts from a luxury expert targeting a luxury buyer, will be able to rewrite your copy and use words and create emotions that somebody’s going to be able to buy into, that will separate your copy from anyone else’s,” he said.

The key to getting great copy from AI is learning how to write prompts – instructions for the platform. This includes key words and details about what users want the AI to do.

Addressable created a “Smart Copy” system that makes writing prompts for its service easy, but those using AI on their own will need to learn how to craft them to get the results they want.

USING AI FOR creating marketing imagery, digitally staging homes and changing décor for individual buyers is the next frontier.

And, no matter where AI takes the real estate industry, agents and brokers will always play a major role in the market.

Someone, of course, needs to double check all of the output from an AI platform, but a human touch is also needed for things such as original content for magazines or connecting with the community.

“[AI is] by no means a replacement for that, but it is certainly an enhancement,” Willis Allen’s Mr. Burnett said. “That gives you more time to go out and do the things you’re really good at.”

The post Artificial intelligence: Enhancing the role of real estate agent appeared first on Luxury Portfolio International.