Vacation Home Market Heats Up

sandMore Americans felt financially secure enough to invest in vacation homes last year as the economy continued its recovery.

Annual sales jumped nearly 30% to 717,000 homes, according to the National Association of Realtors. Vacation home sales represented 13% of the total market, their highest share since 2006.

The sales were spurred by a strong stock market, according to Lawrence Yun, chief economist for the National Association of Realtors. The S&P 500 piled up a whopping 30% return in 2013, its best performance in 16 years. That provided investors with the funds and the confidence to purchase recreational property.

The main reason cited for buying was to use the homes as family vacation retreats. But 31% of buyers also said they planned to eventually use the homes as primary residences, often after they retire.More than a quarter of buyers said the purchase was to take advantage of good deals or to diversify their assets. Almost as many planned to rent to others, at least part of the year.

NAR’s report also covered purchases of second homes for investment purposes. Those sales fell 8.5% year-over-year to 1.1 million.”Investment buyers slowed their purchasing in 2013 because prices were rising quickly,” said Yun, who also cited the drop in the number of foreclosures available for the decline.

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Just Listed! Magnificent Custom Brick Colonial in Old Westbury

Chasella_ext_HR_0000 (Small)This luxurious residence is situated on a private cul-de-sac, where the expansive circular driveway leads to a brand new, custom brick Colonial surrounded by more than 2 flat acres of landscaped grounds.The Colonial home boasts 6000 Sq. Ft. of ample living space, which includes 5 bedrooms, 5 baths, chefs kitchen, spacious playroom / bonus room and maids room. Offered at $2,975,000

For more information on this property click here

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Just Listed! Stunning Brick Colonial in Brookville

1Spectacular brick Colonial located on a private cul-de-sac on over 2 acres of beautiful property. Double story entry with exquisite moldings. State of the art gourmet eat-in-kitchen designed with the utmost quality and workmanship. Offered at $3,495,000

For more information on this property click here.

 

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Maria Babaev featured in residencyNY roundtable magazine Interview!

residencyny

 

 

I am proud and honored to be included in the Round Table interview in the spring issue of residencyNY magazine!

residencyNY is the premiere luxury listing publication in the NY Metro area, spotlighting residential listings from $1,000,000 to luxury lairs that tease $200,000,000.

To complement the showcase; each issue it features the Residency Roundtable, Neighborhood Spotlights, and exclusive content pertaining to the luxury market.

 

To read the full article click here

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Under Contract! Stunning Brick Masterpiece in Old Westbury

Magnificent brick Colonial sequestered on nearly 4 acres of beautifully landscaped grounds. A private gated driveway leads to this charming residence that was designed with a lavish lifestyle in mind, boasting floor-to-ceiling windows, grand public spaces, lower level with theater, gym and game room, tennis court and heated pool, master-on-main.

For more information on this property click here

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Just Listed! Magnificent Colonial in Muttontown

Stunning brick Colonial set behind private gated driveway on 3 acres of flat, landscaped property. The residence boasts all the amenities of luxury living with 8 bedrooms including 3 master suites with Jacuzzi tub, solar heat for all water and radiant heat on 1st floor and all baths. Finished lower level with lap pool, sauna and gym. Offered at $3,750,000

For more information on this property click here

Posted in Foreign Buyers, Gold Coast, Jericho Schools, Muttontown, North Shore Residential Real Estate | Leave a comment

Just Listed! Magnificent Brick Colonial in Roslyn

The gorgeous brick Colonial offers all the luxury amenities of modern day living. This custom designed residence boasts beautiful moldings, millwork, and hardwood floors throughout, designer kitchen and baths, radiant heat on first floor and master bath.

For more information on this property click here

Posted in For Sellers, Foreign Buyers, Gold Coast, International real estate, Luxury Living, Market Watch, North Shore Residential Real Estate | Leave a comment

Just Listed! One-of-a-Kind Brick Estate in Upper Brookville

A private gated entry leads to this magnificent Estate  that features a stunning mahogany library and grand public spaces. The lower  level is fully equipped with a bowling alley,gym and movie theatre. A newly renovated indoor pool, outdoor pool and tennis court make this residence a dream  come true with all the amenities of luxury living. Offered at $12,995,000

For more information on this property click here


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Top 10 U.S. Cities for Chinese Buyers

International buyers have been increasingly eyeing U.S. states in search of housing bargains in recent years, particularly buyers from China.

“Chinese are widely interested in the U.S. markets,” says Andrew Taylor, co-CEO of Juwai.com, an international property website for Chinese buyers. “The data shows they are investing in many places and in greater amounts than most people realize.”

Chinese buyers spent $8.2 billion on U.S. property in 2012, which generated about $492 million in commission for real estate agents that year, according to data from the National Association of REALTORS®.

Chinese investors looking for U.S. property are motivated by profit potential of underpriced housing markets; educational opportunities for their children; and an international diversification of their investments, Taylor says.

In a new report, Juwai.com reveals the following 10 U.S. cities are receiving the most interest from Chinese property hunters:

1.   New York

2.   Los Angeles

3.   Philadelphia

4.   Detroit

5.   Houston

6.   Chicago

7.   Las Vegas

8.   Atlanta

9.   San Diego

10. Memphis

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Wishing all a Happy Valentine’s Day!

Even though the weather is getting us down, I wish everyone’s spirits are uplifted on this very special day !

Many people around the world celebrate Valentine’s Day by showing appreciation for the people they love or adore. Some people take their loved ones for a romantic dinner at a restaurant while others may choose this day to propose or get married. Many people give greeting cards, chocolates, jewelry or flowers, particularly roses, to their partners or admirers on Valentine’s Day.

It is also a time to appreciate friends in some social circles and cultures. For example, Valentine’s Day in Finland refers to “Friend’s day”, which is more about remembering all friends rather than focusing solely on romance.

May your day be filled with lots of love, laughter and great chocolate!  ~Maria

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