From the category archives:

Luxury Home Trends

Say Goodbye to the Ugly Tank

My husband and I were talking the other day about advancements in home building. We were both surprised at the lack of innovation in home appliances and plumbing fixtures, mainly in the design of the toilet. The wonderful “luxury” item in homes today is always taken for granted, unless you are sixty years or older, and remember having to run in the snow to the outhouse when you were a kid. ( My mom has told me some wonderful stories about the outhouse she grew up with.)

Americans use about 100 gallons of water every day per person, and as a whole, our nation uses 4.8 billion gallons of water daily just for flushing toilets. That’s a LOT of water getting flushed down the drain. To curb this “overuse” the EPA (Environmental Protection Agency) has developed the WaterSense Program that encourages smart water use and the development of products that are more water-efficient.

In recent years, toilets have been created that lower the amount of gallons used per flush, as well as the gallons used per minute. The ways toilets are designed today, we flush the same amount of water for solid wastes and liquid wastes, which is not too efficient. So finally we have some innovation coming on to the market. My husband will be so happy! LOL

Called the dual-flush toilet, users can now push one of two buttons, designating which type of “business” has been done, and saving water in the process. Pairing this with a toilet that only uses 1.6 gallons of water per flush, a significant amount of water can be saved each year. Of course this means no more “handle” to break off, and also means that the tank itself is changing. Tanks can now be concealed in walls, making your bathroom look more like one found in public restrooms and hotels. I think it is going to take some time for this toilet to catch on…

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Getting Inspiration for Your Interior Design

Designing a luxury home doesn’t have to stay local. There are many places across the United States where you can view high-end items to decorate your home with. Take for instance The Merchandise Mart in Chicago. If you have never been there, then you are missing out and should stop by on your next visit. Many times you have to come with an interior designer just to get in, but now there is a new area open to the public.

To find some elegant pieces, check out the Luxury Boutiques, which take up about 100,000 square feet and consist of 30 showrooms. You can find just about any type of style to fit your taste, and the nice thing is, there are designers available to help you pick your palette.

If you don’t want to travel, then you can visit the smaller version right here in Minneapolis. Near the Minneapolis Sculpture Garden is the International Market Square. Happy shopping!

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Must Haves for the Luxury Kitchen, Part 3 of 4

You’ve come a long way baby.

I’m a kitchen person. It’s one of most favorite places in the home, not only because it has become the central location for family, but because I like to cook. Other than the stove, the sink is probably most used object in a kitchen, so you can imagine that working at a less than spectacular sink is quite difficult, at least for me.

We just moved out of a terrible rental into the home we had built. I happily said goodbye to the 6″ deep stainless steel sink (that should be deemed illegal), and welcomed my new 9″ deep sink, which is also is extra wide. Amazing what three inches can do!

In luxury homes, the sink you choose can really make a room pop and they are typically not cheap. The one pictured above is a farmhouse copper sink with stone mosaic tile lining the inside. If you want one, don’t fall out of your seat when you hear the $4350 price tag.

Kitchen sinks are made of many different materials. The most common is stainless steel, but more and more I am seeing porcelain farmhouse sinks in higher-end homes. A new trend in modern design is the use of glass sinks. Or you might find a concrete sink, like the one pictured left.

During the Parade of Homes this month, I have been seeing a lot of fancy bowls in power rooms. Ones similar to this green bowl, with beautiful patterns, become pieces of art work in a bath. Some luxury home owners are highlighting their new bowls with up-lighting or spotlights.

Sinks have come a long way, and now are treated with more reverence. Many are custom made and unique to the home design. Of course the hardest part is picking out something you are going to love for a long time. Maybe what a home owner should do is first buy the sink, and then design the rest of the kitchen around it?!

Read the previous series posts:

Must Haves for the Luxury Kitchen – Drawers
Must Haves for the Luxury Kitchen – Countertops

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The Luxury Bath

One trend I am seeing more and more in luxury homes around Minneapolis and St. Paul, is the replacement of whirlpool tubs with replica antique clawfoot tubs.

I for one, never use the bubble option in my tub. Soaking is much better, without me drowning in a sea of bubbles. It seems home owners are thinking the same thing, or else clawfoot tubs are coming back into fashion for another reason. ( Of course I love antique tubs, especially in historic homes).

The best reason I can come up with is that interior design trends are changing. The last five years have seen an explosion of the Mission style in expensive Twin Cities homes. But I am starting to see English and French details creep into home interiors. It is actually refreshing. Natural or stained wood trim and details rule in alot of homes, but I do like to see white trim and white cabinets sometimes, when it fits with the style of the home.

But of course, if you fall in love with a home that has a clawfoot tub, at least it is easy to remove, in case you don’t like it. No need to chip it out of the floor and cause a mess!

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My New Luxury Car

With the Super Bowl over, today’s headlines ring with critiques of the best commercials. While I don’t think there has been a year better than the Dot.com boom commercials from a decade past, there were some nice ones. Of course, I don’t know if the $2.7 Million price tag for a spot is exactly going to bring a good ROI (return on investment), but at least we as consumers don’t have to worry about that part.

I have to say I fell in love and have a new goal in life, all from watching the Super Bowl. If you didn’t catch the Audi commercial, then you missed out. And I guess you must have an appreciation for the finer things in life, especially when it comes to luxury cars. I think I would be pretty happy with a Audi R8 sitting in my garage. At a list price of $109,000, it should take me about 20 years to afford one!

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Hide Your Valuables in a New Way

If you need to hide something really big, but don’t have a huge oil painting to hide your wall safe behind, why not check out this new concept of hiding what ever you like behind a bookshelf.

The Woodfold’s Bookcase Door System “offers a smart, space-saving option for everything from closets, pantries and wall safes in homes, to private areas and divided rooms in schools, banks and offices”.

Just remember to not tell anyone about the goodies hiding behind your latest book.

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Luxury Real Estate Trends for 2008, Part 2

2008,Looking Forward: Key Market Trends for Luxury Housing

Continuing from Part 1:

3. “Stealth Wealth” and a desire for privacy will be important motivators.

The have-yachts will want to separate themselves from the have-nots. Yet those who have wealth may choose to not flaunt it. The growing disparity of wealth will cause some wealthy to move more “under the radar.” At the same time, the wealthy are reacting to mass affluence by looking for properties and locations that offer greater exclusivity and privacy. Remote locales served by private jet, boat, or helicopter will have new appeal. So will properties which offer unique experiences from olive groves that let you create your own personal brand of olive oil to sporting clubs providing unusual sports.

Key points: Recognize the need for discretion when working with the wealthy. They seldom want you talking about their transaction details. Expect locales that are both exclusive and “protected” to be in demand. Understand that the search is on for properties that offer interesting experiences. Assess your listings and the properties you show with these things in mind.

4. Environmental issues will rise to the forefront.

The desire to have a positive impact on the environment is growing. The wealthy are responding positively to self-sustaining property developments and other “green” property options. This is part of a bigger trend—using wealth for good.

Key points: Encourage your builders to “go green” when possible. Highlight environmentally correct features of the properties you list or show.

5. The wealthy are increasingly citizens of the world—luxury real estate will become even more international.

Wealthy buyers from abroad will continue to view U.S. real estate as a bargain and will look to purchase in U.S. locales which offer attractive lifestyles and good economic fundamentals. The falling dollar will continue to make U.S. residential real estate an attractive purchase. At the same time, more wealthy Americans will look abroad for second homes or retirement properties. The desire for tax havens will drive some purchases at the über level.

Key points: If you are in a major market, there is growing opportunity in the international segment—both in marketing your listings to international buyers and in helping your American clientele buy overseas. Begin to network internationally, get involved in international organizations such as The International Real Estate Federation (FIABCI) consider earning the Certified International Property Specialist designation (CIPS), go on trade missions, network with other agents who work the international market and learn what’s working for them, and check out the many resources NAR offers in the international arena.
© 2008 The Institute for Luxury Home Marketing, posted with permission from the Institute of Luxury Home Marketing

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Luxury Real Estate Trends for 2008, Part 1

2008,Looking Forward: Key Market Trends for Luxury Housing

1. The number of wealthy will grow and the rich will be richer than ever.

There’s no end in sight for the luxury housing market thanks to demand driven by demographics. Short of a serious recession or terrible terrorist event, you can expect the very top of the luxury home market to keep humming along in 2008 in most U.S. markets.

There will be continued softening at the entry levels of the upper-tier where many aspirational affluents stretched to buy homes they really couldn’t afford. But, activity should remain healthy at the top of the market. Nevertheless, expect some communities (Asheville, Charlotte, Manhattan, Austin) to outperform others (Miami, San Diego, Tampa, Detroit).

Key points: Target the luxury market segment, but recognize that real estate is a local business and you must analyze your market by price range to know where the hottest opportunities are. In many markets the market potential may be best at opposite ends of the spectrum—luxury and foreclosures.

2. Expect more cautious spending by the very rich and more focus on value.

The financial difficulties created by the securitization of mortgage loans (and not just the sub-prime ones) will be felt at all levels. The CDOs (collateralized debt obligations), SIVs (structured investment vehicles) and other “creative” forms of packaged mortgage loans have been bought by institutional buyers from municipalities to major banks, pension funds, etc. We are starting to see the results of mortgage defaults and the resulting losses surfacing around the world. Financial institutions are in the headlines today with reports of big write offs. Morgan Stanley’s $9.4 billion write-down at the end of December is one example. The news in 2008 will start to focus on the municipalities, pension funds and others who bought the new-fangled mortgage derivatives and are just now discovering the extent of their losses.

These headlines will create a more cautious investor, hit some wealthy directly in their pocketbooks, cause more turmoil in the banking/financial markets, somewhat moderate the luxury buying frenzy we’ve had over the last several years, and focus activity at the very top of the market. The wealthy will pay more attention to the long term investment potential of property than in the past several years.

We’ll still have big spenders—for instance, Russian billionaires will still complete for the longest yacht, most elaborate home, etc.—but, expect a bit more caution in the homebuying marketplace. Lifestyle desires and unique property features will still be the biggest influences on a luxury home purchase; however, buyers will also look more carefully for perceived value and safety of investment.

Key points: Recognize that even though a luxury home is an emotional purchase, you may also be called upon to explain why it is a smart long term investment as well as a great lifestyle choice for the buyer. Expect caution on the part of buyers, but remember the unique characteristics of the home and the lifestyle desires of buyers are still the big reasons for them to buy a residence.

© 2008 The Institute for Luxury Home Marketing, posted with permission from the Institute of Luxury Home Marketing

***Look for Part 2 of Luxury Real Estate Trends in the coming week.

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LED Goes Luxury

Schonbek, who makes some of the most beautiful crystal chandeliers, has just introduced a new version from their Geometrix® collection, the Da Vinci™ LED. Now your chandelier can pull a Jekyll and Hyde, being a simple lighting fixture during the day, but a dazzling light show at night.

One simple flick of a switch and the chandelier goes from halogen lighting to LED mode, where colors fade in and out. Only two sizes are available and they are huge, three feet or five feet in diameter. The size alone guarantees that you won’t be disappointed in the display and it is sure to be the talk of party guests, if not the envy of all your friends.

Visit the Schonbek website to view a video of the Da Vinci, LED in action.

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And Behind this Door…

Garage doors in the Twin Cities have come along way. The boring white door with no windows is still the most popular by far, but high-end and luxury homes are coming up with innovative designs and traveling back in time for inspiration. Take a look at some garage door examples on new construction homes around Minneapolis.

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