This is my last blog entry in this luxury real estate blog. After more than a year of blogging on my ActiveRain blog, I'm afraid my time has come to an end. I'm about to move on to something new and scary, but I suppose change always involves some degree of fear and discomfort.
Thank you very much, everyone who has taken the time to share their thoughts on this blog. I'm sorry if I wasn't able to respond to all of your comments, but I definitely read them all and tried to incorporate what I learned into future posts. I have grown a lot in the past year and a half and I think you can definitely see that by going back through my many blog entries and seeing me try to articulate my feelings and ideas.
I don't know if I'll be able to respond to your comments on this blog entry, so I hope you won't be offended if you write me something and I am unable to respond for some time. Thank you again for sharing a wonderful discussion with me. I would say more, but once again I feel compelled to hold my tongue and simply encourage you to keep holding to hope in these perilous times. Don't put your trust in men, but build your foundation on something sure.
Check out this wonderful story in the Grosse Pointe News that I received earlier this week. Sorry I don't have a link to the story online. Apparently, that newspaper doesn't post some of their stories on their Web site, but luckily I have a PDF version of the printed article.
The movie is called "Gifted Hands: The Story of Ben Carson" and it follows the life of Ben Carson, born into poor conditions, who was able to lift himself up and become a famed pediatric neurosurgeon. It's scheduled to debut on TNT on Feb. 7, 2009. I love inspirational stories about good people triumphing over difficult circumstances. Actually, this discussion reminds of a blog entry that Jim Walberg, the co-Owner/Broker of The Bay Area Team, just wrote about not giving in to fear despite our difficult financial market.
The luxury property on Windmill Pointe Drive is quite remarkable. It includes near two acres of land, its own private dock and 12,000 square feet of living space for $7.3 million. If you'd like more information, you can contact Heather Adragna Ulku or check out this brochure on the property.
I am sorry to keep talking about sad things in my luxury real estate blog entries, but I just read an article in CNN entitled "Ex-bankers on pushing customers to rack up debt" and it once again brought up many familiar concerns to my mind on the topic of consumer debt. I wish that I could talk about happy topics. I would much prefer to discuss luxury properties or any other topic, including how getting adequate sleep can lead to more success, but, alas, I feel it much more pressing to focus on the problems upon us.
I am absolutely disgusted by the state of our financial markets. It seems to me that dishonesty is rampant and the very people who are responsible for this mess are asking for a great deal of money to supposedly solve the problem. But I care about people much more than institutions. And, based upon the testimony of the two honest women in the CNN article, who both have good consciences, I see little difference between the practices of certain banks and lenders and the practices of drug pushers. Many lenders trick people into taking more money than they need, they strive to get young people addicted and they keep people in a state of dependency for extended periods of time. All of that adds up to trouble.
Debt is a plague that, when handled unwisely, can lead to all sorts of problems that I think are even worse than the horrible effects of drug abuse. People can at least stop taking drugs and eventually go through a process of withdrawal and recovery. But with debt, even if a person stops going into more debt, they still have interest building up on the money they owe and they face all sorts of roadblocks on the way to recovery.
The very institutions that have pushed so many people to get addicted to debt are now suffering from a major withdrawal (pardon the banking pun) and seem on the verge of collapse... wait a minute - collapse? How is this possible? It starts with how good people are treated. We have not been treated fairly and now those who have been engaging in dishonest practices are reaping the bitter fruit. We have become a nation of debtors, instead of a nation of wealth.
Perhaps our financial market, as it currently stands, should not be saved. Perhaps we must soon create an entirely new and honest way of working with our money. Whatever we choose, we cannot keep doing what we have been doing.
I feel like I've been ending every blog entry with an apology for being so negative. I just don't want to leave my readers with a sense of anger or hopelessness. I think that there is much to hope about. There are plenty of good people in this world and in our wonderful nation, the United States. I am confident we will make it through this sad time. I just want to make sure this never happens again.
Okay, that's the bad news. Now let's take a step back and switch gears a little. I am an optimist. I believe that good wins in the end. I think that right now many bad companies and practices are facing the fact that they have built upon a sandy foundation and they are in danger of falling. All of the companies that are failing are doing so because of their own greed and recklessness. Home loans were turned into investment packages and many other bad ideas were allowed to come about because of greed.
If these companies had built upon solid foundations and principles that were put into place to safeguard the country after the Great Depression, we would probably be all right. It comes back to greed and pride. There is safety in old wisdom.
I cannot say a hundredth part of what I desire to say right now because this might not be the most appropriate forum to share the most treasured things in my heart. However, I can say that we need not fear what people can do or what problems may arise if we can see how temporary they are. We should be patient, long-suffering, forgiving and kind, especially when times are tough. Anyone who knows me knows that I definitely try to practice what I preach, so I hope you won't think that I'm giving this advice lightly.
Let these organizations tremble because of their fear of falling. We will not fall if we are firmly planted on truth and honesty.
This is a plug for the the upcoming 13th Annual Luxury Real Estate Fall Conference. I thought I'd just say that at the start. I hope to talk about some more meaty things soon, since there is so much trouble going on because of foolish greed, but today I'll focus on this positive opportunity to network with fellow luxury brokers.
Rosita Sarnoff, the Executive Vice President of Stribling & Associates, Ltd., recently shared some great activities her company is planning for Luxury Real Estate members who are attending the Post-Conference Networking Trip to New York City from Oct. 14-16, 2008. This Networking Trip will begin right after the Luxury Real Estate Fall Conference in Philadelphia.
From 3-7 p.m. on Oct. 15, Rosita said that Luxury Real Estate members will enjoy tours of magnificent luxury properties and a cocktail dinner in a $38 million Penthouse and the newly renovated Plaza Hotel. "We're going to give them a terrific afternoon," Rosita said.
The afternoon will begin in a full-floor condominium overlooking Central Park that was recently offered on the market by Stribling & Associates. It includes 4,400 square feet of living space, four bedrooms, 4.5 baths, a personal gym and library. After spending some time in that luxury home, they'll head next door to the world-renowned Plaza Hotel. They'll be given a grand tour of the hotel, eventually finding their way to the Rose Club restaurant, where they'll enjoy gourmet food.
By the way, the Plaza Hotel was recently redesigned so that it now includes both hotel rooms and hotel condominiums. I wrote an article about hotel condos in the winter 2008 issue of LuxuryRealEstate.com Magazine. Check it out if you'd like to know more about those interesting properties.
Only one Luxury Real Estate member from each geographic area will be able to attend this Networking Trip and reservations are sure to go fast, so be sure to sign up today! Brokers and agents will be able to speak freely and build relationships they otherwise might miss out on at both the Fall Conference and Post-Conference Networking Trip. We look forward to seeing you there.
By the way, Stribling & Associates is a member of the Board of Regents, an exclusive group of brokers that leads the Luxury Real Estate network. The photo of the Plaza Hotel is from www.flickr.com/photos/oquendo/2463578547 and it is the copyright of Oquendo.
I don't have a whole lot of time today, but I just wanted to share an interesting CNN article entitled "The staycation effect: 5 reasons to travel now." Because people have been very wise with their money this summer and have not gone on as many vacations, right now is a great time to take a vacation. Many hotels and luxury resorts are offering special discounts to entice people to get out of their homes and into a luxury community.
I wish I had more time to talk about this topic, but I highly recommend reading the whole CNN article. It's quite concise and informative. Enjoy!
By the way, I had mixed feelings about writing this blog entry today. I just don't know if it's super appropriate to share on September 11, when feelings of melancholy and seriousness should prevail in my heart. I hope you don't mind.
I recently finished writing an interesting article for the winter 2009 issue of LuxuryRealEstate.com Magazine. The article is on "green" homes, and it was a challenge to write, mainly because I have a number of concerns about the current global-warming scare. I was able to find a lot of good in "green" homes, especially their energy savings and positive health effects on residents. I shied away from discussing their environmental effects, since I am unconvinced that they will have any real ones, and saying that they will might give people a false sense of security.
To be sure, I am all for conservation and avoiding the waste or misuse of our resources. But something is very wrong with the current debate, or lack thereof, on global warming. I bring this up, not only because of my magazine article, but also because I read a very informative article entitled "Hot air over global warming" by Jerome Delvin in The Seattle Post-Intelligencer this morning. I highly recommend checking it out.
As I noted in the Editor's Note of a July 31, 2008 post to the Luxury Real Estate Blog by Jean-Yves Piton entitled "Green luxury real estate," many climatologists and other scientists are speaking out about the fallacy of manmade global warming. You can find a great deal of accurate information from top scientists who spoke at the 2008 International Conference on Climate Change. It is clear that the Earth's atmosphere is warming, but there is actually little evidence to suggest that human activity is the main cause.
The data simply does not support the idea that the Earth's temperature has increased at a steady pace along with the increase in carbon emissions during the past century or so. In fact, in the 1970s global cooling was touted as a major problem facing the world, not global warming. The fact that there was cooling going on during a period of steadily increasing carbon emissions seems to point to the fact that the relationship between manmade greenhouse gases and the temperature of the atmosphere is much more complex than we're being told.
The people who are calling for conservation are often the most guilty of wasteful living. It's been well-publicized that Al Gore, a supposed environmental advocate, does not practice what he preaches. When it was revealed that his Tennessee home used more energy in a month than the average U.S. home uses in a year in 2007, he said he would make some changes to improve his efficiency. But a year later, Mr. Gore's energy use increased 10 percent. Obviously, most Americans are doing a better job at living moderately so it seems like we should listen to someone other than Mr. Gore when it comes to energy advice.
I know, I know - don't kill the messenger. But seriously, if you thought that the most terrible disasters in the world were increasing in number and strength directly because of your energy use, wouldn't you feel a pressing need to cut back immediately? I just don't see how this double standard can be ignored. I cannot take a person seriously who does not at least try to practice what he or she preaches. We're all human and we all make mistakes, but we should at least be trying to do what we believe is right.
I believe that regular people can make a difference in the world, often by raising strong families and focusing on the most important things in life. However, it seems to me like this good idea (one person being able to have a positive effect on the world) has been twisted and used inappropriately when it comes to global warming in order to take advantage of well-intentioned people.
I often feel barraged with messages saying that I need to be more responsible and consume less in order to lessen my "carbon footprint" on the environment. I am wary of the rationale behind this argument for a number of reasons. Don't carbon credits sort of sound like indulgences? And, besides that, there is little evidence that paying money to plant trees or somehow offset our emissions has a significant effect on the environment. In fact, an interesting study in Reportonbusiness.com found that our return on investment from putting money into the fight against global warming is so low that it's really not even worth it. The fact is that, despite good intentions, one person, or even 6 billion people, can't make much of a difference when it comes to global warming.
Returning to the "green" article I wrote, I tried to focus on "green" homes from the perspective of why a person would choose to purchase one. After all, they are more expensive to build, so there must be a promise of future rewards rather than a vague promise of being better for the environment. "Green" homes appear to be very sound investments because they cost less to maintain, contain fewer toxic materials and thus promote the financial and physical health of their inhabitants. I believe that "green" homes can be very good. But I do not think that they are good simply because they have some sort of positive effect on the environment that is, in reality, overrated and insignificant.
I have much more to say on this topic, but I'm afraid I just don't have time to cover everything. I apologize if I have offended you. I am very passionate when I see injustice, and I wish to put an end to it. I think we need much more information before making changes that might have little or no effect on the problem we think we're solving.
If you disagree with me, which is perfectly all right, I encourage you to look closely at the data before posting comments. I enjoy healthy discussions in search of truth, but I do not approve of name calling or unkindness.
A while ago I stepped back from writing about luxury real estate to discuss a terribly destructive force that threatens to destroy families and make people miserable: debt. I would like to discuss something that I find to be just as dangerous as addiction to debt - the illogically high cost of earning a college degree.
I read a potentially explosive story on CNN yesterday about a bubble in the cost of higher education that makes the real-estate bubble or the tech crash in 2000 look tame in comparison.
I'd like to start by talking about my experience in college. When I attended college not too long ago, tuition and book costs were already getting out of hand, although they were manageable. I attended a community college in Washington state for my first two years to obtain my Associate's degree. I had hoped to transfer to the University of Washington to complete my Bachelor of Arts in Communications, but the cost was prohibitive and, even though I graduated with honors and on the Dean's list, I still had to wait a long time to enter that college.
Instead, I decided to accept a scholarship at Brigham Young University in Provo, Utah and that turned out to be a very smart decision. In addition to the positive environment that beautiful campus offered, the cost of attending there was relatively low compared to my other options and I was able to pay for my entire education without going into hardly any debt. I am one of nine children, and my parents wisely told me that I would have to find a way to pay for my education by myself. Through a great deal of hard work and tight budgeting, I made it through without having to burden my family members.
During my time in college, I kept my mind focused on why I was there. I wasn't there to waste time or take frivolous classes; I was there to finish my degree as quickly and as meaningfully as possible so that I could put my skills to use. I am grateful for the opportunities my college degree has opened for me. However, education costs are rising so fast that there might not be much reason for people to attend college in the future.
I would probably be sympathetic to colleges if the reason for the rise in education costs was because they were improving their education techniques or doing other things that would warrant such cost increases. But the truth is that this is not the case. Many colleges are increasing tuition costs for no other reason than because they want more students to apply. It seems to defy logic, but it's true. Colleges appear to be playing a game that they will eventually lose. When they raise prices, people assume that they must have done so because they are more prestigious or offer better learning opportunities and so the colleges usually receive an increase in applications. This pattern cannot last forever.
Education is extremely important. It allows people to rise from humble circumstances and it also helps them make informed decisions about where they want to go in life. By making education worthless, colleges are doing a great disservice to their students. By worthless, I mean that the cost far exceeds the rewards. Greater cost does not always mean greater return on investment.
Increases in healthcare, energy and real-estate costs don't even come close to touching the rise in education costs, as you can see in the graph in the CNN article. Knowledge is power, and if the cost of education becomes so high that that the benefits of earning it become small in comparison then we will be in big trouble. I am not suggesting that college degrees be easier to obtain or that unqualified people should receive an education without working hard. I am suggesting that colleges are in danger. They spend much of their increasing amount of money on frivolous amenities that do not improve their educational services or make their students' diplomas any more valuable. Posh restaurants, nicer dorms and other foolish perks are unimportant for students who are simply hoping to receive the education they need to progress in life.
At some point people are going to realize that an education is not worth living under such an extreme amount of debt to obtain. When that day comes and colleges must cut their tuitions drastically, many cherished institutions will most certainly be unable to cope with this dramatic shift and they will come crashing down. Destroyed by their own pride and haughtiness. They will discover that they have spent their money on things that have no value and they are unable to offer students what they promised: an honest education.
I dislike focusing on something so negative as this, but I think it deserves special attention. Thank you very much for your comments. Feel free to let me know what you think of the state of higher education.
Nick Antonicello, Director of Sales for Unique Homes, pointed out an interesting story to me last week in the Los Angeles Times Blog. You might have already heard about it, but I just want to put in my two cents about the whole affair.
Peter Viles, Senior Producer for Real Estate at LATimes.com, wrote in his blog entry that Donald Trump, possibly the best-known real-estate developer in the world, is seeking to buy Ed McMahon's mansion to save him from foreclosure.
In an even more bizarre turn of events, Mr. Trump now might be having some competition for buying Mr. McMahon's luxury home. That's according to a new blog post today by Ann Brenoff, author of the Los Angeles Times' weekly "Hot Property" feature.
To be honest, I'm not sure what to make of this story. I mean, Mr. McMahon certainly seems like a good man who simply let his finances get out of control until he went from delivering oversized million-dollar checks to being unable to pay for his multimillion-dollar luxury property. His story just seems remarkable and bitterly ironic.
Since he went public with his mortgage troubles, it appears that Mr. McMahon will now be able to make it through this difficult experience fairly well. Competing offers on a house that's about to be short sold is pretty impressive, I think.
I guess, in the end, my point is: Is this justice? I mean, not everyone can be helped like this. Is Ed McMahon's celebrity status the main reason why he is receiving this attention and assistance? I'm uncertain of the answer to these questions. I hate to see anyone suffer, but is some suffering just while other suffering should be alleviated, and how do we judge that?
I believe that life is generally good, although it is difficult and filled with perils. Mr. McMahon seems to have had a very good life, gaining much more success and fame than most people will ever know. I feel bad that he is facing failure near the end of his life, but perhaps that is a lesson he needed to learn. I am sure we all must face failure and seek to succeed afterwards. Hopefully we will learn to be better people in the process.
There are so many fun one-liners I could use to sum up this story, it's hard to pick just one. I'll go ahead and try this one: Elvis has left the building, and now that building can be yours! Yeah, that'll work.
Elvis Presley's "Graceland West" estate in Palm Springs, Calif. is now for sale. Talk about a house with some history, this two-acre estate, nestled in the foothills of the San Jacinto Mountains, is where Elvis (the king of Rock and Roll) lived for almost eight years, recorded eight songs in the living room in 1973 and spent his last birthday. He died on Aug. 16, 1977 at the age of 42.
By the way, whenever I think of Elvis Presley, the first thing that comes into my mind is the scene from "Top Secret" (1984), one of the funniest movies I've ever seen, where Val Kilmer sings his hilarious rendition of Elvis' famous song "Are you Lonesome Tonight?" Thanks to the magic of YouTube, you can watch Val Kilmer's version and Elvis' original below. Toward the end of his parody of the song, Val Kilmer sings so well that it's hard to distinguish him from the king!
Also, I was really tempted to call this blog entry "Wake up with the King." Luckily, I refrained.
My personal thoughts on luxury real estate, technology, news media and a variety of other related topics and trends. I also maintain the Luxury Real Estate Blog on LuxuryRealEstate.com.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
I have some very fun news to share. A new TNT movie starring Oscar® winner 
The movie is called "
I am absolutely disgusted by the 
Okay, that's the bad news. Now let's take a step back and switch gears a little. I am an optimist. I believe that good wins in the end. I think that right now many bad companies and practices are facing the fact that they have built upon a sandy foundation and they are in danger of falling. All of the companies that are failing are doing so because of their own greed and recklessness. Home loans were turned into investment packages and many other bad ideas were allowed to come about because of greed.
This is a plug for the the upcoming 
personal gym and library. After spending some time in that 
discuss a terribly destructive force that threatens to destroy families and make people miserable: 
I would probably be sympathetic to colleges if the reason for the rise in education costs was because they were improving their education techniques or doing other things that would warrant such cost increases. But the truth is that this is not the case. Many colleges are increasing tuition costs for no other reason than because they want more students to apply. It seems to defy logic, but it's true. Colleges appear to be playing a game that they will eventually lose. When they raise prices, people assume that they must have done so because they are more prestigious or offer better learning opportunities and so the colleges usually receive an increase in applications. This pattern cannot last forever.
To be honest, I'm not sure what to make of this story. I mean, Mr. McMahon certainly seems like a good man who simply let his finances get out of control until he went from delivering 
;)
;)
