Mark Knowles's Blog

Property market predictions 2009

Mark Knowles (Niche Properties) — Tue, 13 Jan 2009 15:11:31 -0800

Warning ! Some reading this may be offended and disappointed, but here are a few predictions for 2009. Do not read if you are faint of heart !

British property prices

British property prices are going to see a fall from the current average price of £ 158K to a new average price of £ 75K. A fall of over 50% Why? This is why -

"The current burst bubble is a direct result of the entire nation over-borrowing, with nothing to back it up. Savings in the UK are at an almost all-time low, and dropping interest rates to this level to discourage savers is not far short of insane. It is certainly not going to encourage people to borrow again. Everyone is all borrowed-out. Nor is it going to encourage the banks to start lending money hand over fist to every Tom, Dick and Harry that asks for a 120% mortgage. The current bust is directly related to over lending to poor risks, whilst at the same time not having the deposits to cover anywhere near a sensible portion of the loans." British property price prediction 2009 full article.

Luxury property prices

The luxury real estate market will not see bottom and an increase in prices for at least another two years. Why?

"Until the finance sector gets it’s act together, and there is some accountability, the luxury real estate market is going to continue to face issues and continue to fall in value. The Madoff scandal is the tip of the iceberg. My feeling is that there will be many more of these coming to light in 2009, because it is far harder to hide these sort of dealings in a down economy. All the time the next investors money can be used to pay off the first one, they can stay hidden. Pressure is mounting to bring some accountability to the financial markets, although the scams are so intertwined with government as to be all but impossible to unravel." Luxury real estate market prediction 2009 full article.

The coming housing crash

The real estate bubble is a world-wide issue. The markets are interconnected and not one will escape the mayhem. Why?

"Regardless of the world's governments' stated attempts to keep the cost of housing artificially high, property markets around the world are going to lose substantial value. The government bailouts of the financial sector will- perhaps - prevent the banking system from collapsing completely, but will have very little effect on the value of real estate." The housing crash. full article.

For alternative opinions -

House price crash UK has a selection ranging from 25% up to 50% down.

And Pravda think the luxury real estate market in Europe offers guaranteed increases in value. LOL

FIABCI Announces Agreement with LUXURY FILM

Mark Knowles (Niche Properties) — Thu, 18 Dec 2008 06:24:03 -0800

The International Real Estate Federation, FIABCI, is announcing a relationship with LUXURY FILM, a premier video production, consulting and animation company which services the luxury real estate market on a global basis. The company is comprised of an exclusive network of experts and international professionals who provide a full spectrum of creative services for video production. "The selection of LUXURY FILM as ‘Preferred Video Supplier' will strengthen FIABCI as the world's leader within the real estate market by providing and enhancing communication tools for our global members," explained Luis Correa-Bahamon, FIABCI World President. "This relationship is just one example of how we are continually striving to support our global membership so they can actively, or should I say virtually, participate in state-of-the-art technology and communication vehicles," he continued. Luxury Film, headquartered in Highlands Ranch, Colorado, USA, filmed FIABCI's 2008 World Conference in Amsterdam and is providing the footage to all FIABCI members by creating an FIABCI World Congress Amsterdam Video Channel. This streamed conference is available for individual members' websites, as well as all Regional and Chapter websites, who can embed the video for free by going to http://www.luxuryfilm.com/fiabci-2008-world-congress/embed In addition, LUXURY FILM is working in partnership with FIABCI to offer members an economic yet sophisticated member centric FIABCI Video Network which includes custom branded players, hosting and streaming as well as a state-of-the-art technical team for member support. "It is a great opportunity to work with the world's most prestigious Real Estate Federation," said Shaun Stanley, LUXURY FILM Director of Video Solutions. "Our introduction to the high-quality standards of FIABCI was captured in the 2008 FIABCI World Congress in Amsterdam. We are committed to that standard of excellence and look forward to continually providing the same service to FIABCI members on a global basis," he continued. The International Real Estate Federation, FIABCI, is an organization of real estate professionals in 65 countries which represents more than 100 national real estate associations, over 2 million professionals, and serves as special consultant with NGO status to the Economic and Social Council of the United Nations Organization (ECOSOC). FIABCI helps members acquire knowledge, develop networks and optimize business opportunities throughout the world. For information, go to www.FIABCI.org or contact Alyssa Nightingale (631) 367-8599. You are free to reproduce this press release on your own website, but if doing so, please leave all live links intact. Thank you.

Luxury Real Estate News and a little fun in a down economy

Mark Knowles (Niche Properties) — Mon, 27 Oct 2008 06:28:27 -0700

First some recent news in the property markets. As we are all aware, the "credit crunch" is having an effect on property prices and transaction volumes around the world.News from certain quarters is worse than others, yet some segments are still attracting buyers at what can only be described as silly prices.

The Lehman brothers' collapse has halted construction on a golf community development in Tennessee.

Luxury Homes on Hold in Tennessee

Luxury Home markets in Taiwan have "Frozen to Ice," according to a leading real estate agent.

Luxury Real Estate in Taiwan suffering

John McCain's former house went up fpr auction this month.

Failed presidential candidate's home for sale :)

Property prices in France plummet

Real Estate values falling in France

On a brighter note, I was lucky enough to get to see a brand new € 200 million mega-yacht up close recently.

Photos of the Phillipe Starck designed mega-yacht "A"

Luxury Real Estate - Most expensive properties

Mark Knowles (Niche Properties) — Wed, 06 Aug 2008 07:50:47 -0700

Recent news and happenings in the luxury real estate world.

A luxury villa in France was reported as selling for five hundred million dollars (US) but this turns out not to be the case. Luxury Villa in France.

The most expensive home in Singapore is subject to a legal battle. Even the extremely wealthy have family issues

. Luxury Home in Singapore.

Most expensive real estate in London.

A new record asking price for a basement flat in London. $32 million.

Scotland's most expensive golf course is apparently for sale- price unknown.

Loch Lomond Golf course for sale.

Follwing Donald Trump's sale of his Palm beach mansion, it seems as though the Mega-Mansion market in the USA is picking up again.

The luxury property market in Australia starting to face the credit crunch.

Luxury property in Australia.

A recent build in Chicago has just been listed on Chicago's North Shore. Spectacular landscaping make this one very interesting.

Luxury home in Chicago.

Recent Luxury Property Anouncements and News

Mark Knowles (Niche Properties) — Tue, 15 Jul 2008 08:07:05 -0700

Elie Saab, Lebanese fashion designer has been retained to design a luxury hotel over looking the Tiger Woods Golf Course in Dubai

A new fractional-ownership Residence Club was recently launched in Nantucket - they are looking for brokers also.

Matthew Perry is still buying up property all over the US

Luxury developments in California are becoming Ghost towns

A Luxury Hotel in Istanbul has created a modern Day Battle over Roman Ruins

Skygardens, a luxury residential development in Dubai is finished and on sale

A $32 million basement apartment went on sale in London recently

The looming spectre of AUS$ 8 a liter gas is changing the face of Australian property

An interesting approach to luxury home marketing

Mark Knowles (Niche Properties) — Thu, 19 Jun 2008 08:49:30 -0700

Sophie Bielefeld of Bend, Oregon is faced with the daunting prospect of being a real estate agent in a town with an estimated 30-month supply of million dollar-plus homes for sale.

As sales have slowed over the last year, she decided to do something about it and formed a luxury property network.

Thank you for the Invite

Mark Knowles (Niche Properties) — Thu, 19 Jun 2008 08:45:37 -0700

Hi Anthony,

Thank you for the invitation to join your group. I must add, I am not a real estate agent myself. I write the Luxury Property Blog.

Having said that, I am always interested in featuring agents who are stepping "outside the box" and doing something different and creative as far as marketing million dollar plus homes in the current tough environment. A recent example being Sophie Bielefeld, who created a Luxury Property Network in Bend, Oregon.

So, if there is anything I can do to feature some one in the group, please let me know. I can be contacted through my active rain profile, or here:

Mark Knowles

Ups and Downs in the Luxury World

Mark Knowles (Niche Properties) — Tue, 03 Jun 2008 06:01:54 -0700

Interesting news from the Luxury markets. Some good, some bad (depending on your perspective)

A new record set for home price in London:

Luxury Real Estate in London sets a new record

Donald Trump takes a $25million hit in Florida:

Originally asking $125million, the sale price was $100million. Donlt feel too bad though, the purchase prices was only $41million. Still a tidy profit. Luxury Palm Beach Mansion sells.

The Hearst mansion and the Portabello Estate still available:

Both these properties have been up for sale for some time, and I wonder if Mr Trump's success will kick start the sale of these? Mega Mansions still for sale.

The Luxury Institute has a new report that suggests America's affluent are ready to start buying again.

Falling U.S. real estate values make attractive investment properties for affluent Americans.

Stella McCartney seems to be doing just fine with the release of a new $900 clutch. Metal.

Stella McCartney Metal Clutch purse.

The top end of the Motorcycle market also seems robust:

And there are a few MV Augusta F4CCs available - for $120,000 :)

Luxury Property.com Breaks New Ground in Online Real Estate Marketing

Mark Knowles (Niche Properties) — Fri, 23 May 2008 06:08:32 -0700

It can be hard to find objective information about real estate amongst the welter of self-serving advertorial being dished up by real estate companies. One company has taken the innovative approach of employing a professional real estate blogger to provide a breath of fresh air to its corporate web site: The Luxury Property Blog.

(PRWEB) May 22, 2008 -- Responding to the market trends of growing internet usage and a decline in the consumption of traditional media, Luxury Property.com have taken the unprecedented step of hiring an independent professional blogger to drive their new media marketing strategy, the Luxury Property Blog - Mark Knowles

Corporate blogs have historically been dull and self-promotional, perhaps because producing content has been left to traditional marketing departments. Effective blogs, which attract thousands of readers daily, require a completely different skill set from traditional marketing, but attract a demographic which is very difficult to reach through mainstream media.

Building, maintaining, and promoting a corporate blog is part of our strategy to usher in an era of advanced online marketing for the luxury real estate industry.

Michael D. Murphy

Internet usage continues to increase and now rivals TV in the media consumption stakes. According to a study by The European Interactive Advertising Association, " 57% of Europeans now regularly access the internet each week. That equates to 169 million people now frequently online across the ten European markets surveyed in the study." The internet is rapidly becoming a hub for all media with internet users increasingly consuming media such as magazines, newspapers, radio and TV digitally. Advertising.com states: "The majority (62%) of consumers are viewing video online."

This applies to the wealthy consumer also, and, according to the Luxury Institute, "wealthy-consumer participation in online social networks is on the rise. Whilst Unity Marketing, a luxury market research firm, states that the internet is playing an increasingly larger role in influencing luxury consumers.

Michael D Murphy, CEO of Luxury Property.com said, "Building, maintaining, and promoting a corporate blog is part of our strategy to usher in an era of advanced online marketing for the luxury real estate industry."

According to homestomper.com, 77% of home buyers begin their research process online.

The term "Blog," is short for "Web log," a specialized site that allows an individual or group of individuals to share a running log of events and personal insights with online audiences. Bloggers tend to be highly-opinionated mavericks and the term "Executive Blogger," almost seems like an oxymoron. When asked if the corporate environment would stifle Mark's creative thought process, Mr. Murphy responded:

"Absolutely not. Mark is a professional and an expert, and he has to be able to call it like he sees it, or the blog loses all its value to the readers. We think he had a fair point when he criticized our failure to properly launch the Luxury Property main site within our projected time frame. Unfortunately that was outside our control due to a poor choice of contractor for the site's construction. We have since moved these operations in-house and will be re-launching this summer."

Mr. Knowles is a long-time blogger with experience both of blogging and real estate. He has written and operated several internationally recognized property blogs. His past experience also includes managing a successful photographic processing laboratory servicing real estate marketer's needs.

His plans for the blog include creating a number of foreign language versions, including a Chinese version of the luxury property blog with guest bloggers from around the world contributing regularly. When interviewed about the becoming the world's first executive blogger, Mark said:

"This job fits very well with my skill set, and LuxuryProperty.com is an extremely progressive website with a good grasp of the future, both in the luxury real estate world and the marketing possibilities of Internet Video. I am very happy to be a part of this team and looking forward to taking blogging, and Internet Video Marketing to the next level. With a little luck, I might even be able to cut down on the amount of horrible real estate videos I see posted to YouTube."

When asked about this aspect, Michael D. Murphy said:

"In my opinion, what most internet users enjoy about blogs is their authenticity. If Mark wants to make an example of the poor quality real estate videos on YouTube, we're certainly not going to stop him. If anything, such a practice should serve to raise the standard of online marketing - and that is what our company is all about."

The job description, "Executive blogger," is not widely-used, and only time will tell if this becomes as mainstream as blogging has done recently. Technocrati claim to be tracking over 112 million blogs, not including the estimated 73 million Chinese-language blogs, although the Blog Herald asks "Have we reached such a great amount of blogs that we no longer feel the need to count them?

About:

Mark Knowles is a pro-blogger and has, in the past, written for several other well-known property blogs including the International Property Investment Blog. For quotes, photos and more information, please email.

LUX, based in Denver, CO and Chicago, IL, specializes in the development and operation of a growing network of luxury-themed websites and services: LUXURY PROPERTY, LUXURY SOIREE, LUXURY FILM, and an international network of luxury blogs.

This Press Release is available for down load in Printer-friendly, PDF or Google Reader formats here. With photographs.

New Luxury Real Estate Developments

Mark Knowles (Niche Properties) — Fri, 16 May 2008 09:16:17 -0700

This is a selection of recently-announced property developments around the world. As perusual, it seems as though the uAE has more than their fair share and you have to wonder just how many of these "luxurious" developments they can build before the oil money runs out.

Cityscape Abu Dhabi saw a number of new developments released, including Al Dana.

New developments in Abu Dhabi

Also announced were two new towers in the "City of Lights." by Hydra Properties.

Hydra Avenue Tower and Hydra 55 Tower

Sheikh Mohammad Bin Rashid Gardens, the Dh200 billion venture of Dubai Properties, were announced recently, which aims to be the lowest-density development in the region. Situated between Al Khail Road and Emirates Road on 880 million square feet, about 73 per cent of the development will be green and open spaces and 10 per cent will be allocated to waterways.

Green development in Dubai

A little closer to home is the Eco Friendly development, "Palmetto Bay Resort" in Southern Belize

Palmetto Bay Resort

The most exclusive property in London

Mark Knowles (Niche Properties) — Tue, 29 Apr 2008 04:25:54 -0700

A residence fit for a King - or a Queen. Possibly the most expensive, most exclusive, most desirable, most spectacular, most………. When they talk of ultra-luxury, this is what the word was coined for.

“Oakmayne bespoke,” will soon be launching what has to be the most (see above) properties in London – 6 double-fronted ambassadorial residences, and 3 apartments in 20-21, Cornwall Terrace Mews, Regent’s Park London, NW1. I hesitate to use the words home, or house. These are residences.

This is probably the most prestigious address in London. (Found another superlative) and it is unlikely another property such as this will ever come on the market again. Read the rest - Most exclusive property in London.

Best Real Estate Videos

Mark Knowles (Niche Properties) — Mon, 28 Apr 2008 08:34:19 -0700

I finally worked out how to post a video to active rain. This is one of my favorites:

Let me know what you think.

Marketing outside the box

Mark Knowles (Niche Properties) — Mon, 28 Apr 2008 08:00:44 -0700

I visited the Top Marques show in Monaco this past weekend. Top Marques is a luxury supercar show. The main reason for my visit was to see what Knight Frank were up to. Seeing as they were one of the sponsors. A successful show was the impression I got when I spoke to their rep.

The show itself was a major disappointment, mostly down to horrendous service by the organizers.

Luxury Marketing Techniques Non Industry Trade Shows and Broken Promises

Using Children to sell luxury brands

Mark Knowles (Niche Properties) — Tue, 08 Apr 2008 05:17:57 -0700

Giorgio Armani has come in for considerable criticism for using children in what some people believe are sexually suggestive poses. Personally, I agree with the critics. What do you think? Is this OK? Or is it a fuss over nothing?

Full article here

Celebrity Property News

Mark Knowles (Niche Properties) — Mon, 07 Apr 2008 04:08:01 -0700

Rafaello Follieri heads to jail for bouncing check

Raffaello Follieri, an Italian business man and real estate mogul wannabe, was charged with writing a bad check. And not just any bad check, dear ones. A check for $215,000 (TMZ reports $250K). Ouch. Now that is creative financing, no? The NY Post reports that the account he used only had $39 and some change in it. Wow. That’s some brass-plated you-know-whats the boy has there.

Michael Jackson hangs on to Neverland by the skin of his teeth

We had last heard that Michael Jackson had made a deal to save his neglected Neverland, but the newest dish is that he didn’t exactly refinance his $24+ million loan.

Fox 411 reports that a foreclosure is still scheduled for the declining property. In fact, the public auction is set for May 14 in Santa Barbara.

Spider Man Splashes out $10 million

Tobey Maguire recently purchased a piece of luxury property in Brentwood. But there’s no home on it yet. He paid almost $10 million for an acre of land north of Sunset.

Biggest losers in Celebrity real estate deals

Most everyone expects celebrity property to be luxurious, well-decorated and expensive. And we usually expect it to go for top dollar. But even celebrities can’t avoid the real estate blues sometimes. As Los Angeles housing sales slow, so do mid-range celebrity homes from the $3 million to $6 million range. Those poor, rich folks and their slow-moving houses. It almost makes you want to cry for them, doesn’t it?

Versace’s Villa Sold

Gianni Versace’s Lake side villa has sold for a staggering $52 million. The buyer is reputed to be Russian multi-millionaire Arkady Novikov, a flamboyant restaurateur affectionately (or not, depending) known as the “Blini Baron.” The house had been quietly on the market for some time and according to The Times, sold for $6 million over the asking price.

SIMA 08 Madrid

Mark Knowles (Niche Properties) — Fri, 04 Apr 2008 09:00:57 -0700

Any one heading off to Madrid for the real estate exhibition? Madrid is gorgeous this time of year. Wish I was, that's for sure.

The Largest Real State Exhibition in The World

Luxury Property Blog Invades China – in a good way ☺

Mark Knowles (Niche Properties) — Wed, 26 Mar 2008 07:46:13 -0700

The Luxury Property Blog is excited to announce the news that we now have our first fully functional foreign language blog

iHaozhai.cn is a manually translated, Chinese domain. Chinese SEO doesn’t come naturally to me, so we have employed an in-country translator/blogger to help on that front.

If any luxury property real estate agents out there are interested in reaching potential Chinese buyers – in their native tongue – please contact me through my profile here, or here - Mark Knowles

The Russians Are Coming!

Mark Knowles (Niche Properties) — Wed, 19 Mar 2008 07:09:36 -0700

Russian restaurateur, Arkady Novinov, has apparently purchased Gianni Versace's Villa Fontanelle on the shore of Lake Como - Price $52 million.

Full details here:

Villa Fontanelle Sold

Luxury Yacht maker turns property developer

Mark Knowles (Niche Properties) — Mon, 17 Mar 2008 07:48:56 -0700

Well, if fashion designers can open hotels and restaurants, I guess it makes sense for yacht makers to become property developers.

Ferretti yachts has just announced their intention to build a $1.6 billion waterfront project in Dubai (as if Dubai needed any more development)

And, you get three free girls in bikinis with every yacht :)

Luxury Yacht property developers.

Surreal Estate - Best Luxury Property Videos

Mark Knowles (Niche Properties) — Fri, 14 Mar 2008 07:58:25 -0700

Thos of you who have read some of my other posts will know I am not a big fan of home-made videos uploaded to youtube as a real estate marketing tool.

But, I am making it my mission in life to collect the BEST real estate videos in one place. This is my first - I have dubbed it "Surreal Estate,"

Unfortunately, I have not worked out how to upload the video to active rain - so you will have to pay me a visit here:

Best Real Estate Videos

Definitely my current favorite real estate video - and nothing for sale.

Surreal Estate - Best Luxury Property Videos

Mark Knowles (Niche Properties) — Fri, 14 Mar 2008 07:01:33 -0700

Thos of you who may have read some of my previous posts may have noticed, I am not a big fan of creating home-made videos and using YouTube as a market place for said video.

But, I am also making it my mission in life to collect together the bet quality real estate videos I can lay my hands on. This one, which I have dubbed:

"Surreal estate."

Is produced by squintopera for Alsop Architects of London. Unfortunately, I don't see a way of uploading the video to this blog interface, so you will have to pay me a visit to see the video. It's quite long, but absolutely incredible.

One of the best real estate videos I have seen.

A four hundred thousand dollar car

Mark Knowles (Niche Properties) — Mon, 10 Mar 2008 09:52:15 -0700

Even I think the latest offering from Rolls is a little on the expensive side - $ 400,000 and UP.

It's a fine looking car though. Full write up here:

The Rolls Royce Phantom Coupe

It's a Mistake To Use YouTube

Mark Knowles (Niche Properties) — Fri, 07 Mar 2008 04:12:02 -0800

YouTube - Ubiquitous YouTube.

Anyone can use YouTube to upload a video - Even real estate agents. That's right - it is so easy, even a real estate agent can use it :)

But - does that mean you should? As far as I, and many others are concerned, uploading a promotional video to YouTube is the online video equivalent of advertising in Seventeen magazine. Would you do that? No - I didn't think so.

More detailed commentary here:

Five Questions to Ask Yourself Before You Upload Your Luxury Property to YouTube

Eco terrorists burn houses in Seattle

Mark Knowles (Niche Properties) — Wed, 05 Mar 2008 07:12:32 -0800

Eco terrorist group the Earth Liberation Front have just burned down three luxury homes a in Seattle suburb. I have to admit to being a little confused as to theri objectives, but I made a fuller post on the subject here:

Earth Liberation Front vs Luxury Developers

If anyone has any insights, I am all ears.

Most Expensive Luxury Interiors

Mark Knowles (Niche Properties) — Tue, 04 Mar 2008 06:03:12 -0800

How much for a Swarovski crystal -studded toilet?

A bath carved from a single piece of stone?

Find out here:

Most Expensive Luxury Interiors