Success Stories

By Camilla McLaughlin

MASSACHUSETTS

HAWAII

WASHINGTON D.C.

If these three recent Coldwell Banker sales are any indication, luxury real estate is certainly beginning to rebound.

ACCOUNTS OF PROPERTIES SELLING within days for more than the asking price were legion during the boom. Once again, a growing number of Coldwell Banker Previews International agents are telling similar success stories. continued

Success Stories
continued from previous page

Consider Haven Hill, an early 20th century, neoGeorgian home in Prides Crossing, Mass., that sold in June for $200,000 more than the asking price, just days after coming on the market. Panoramic ocean views extending as far as Cape Cod from 11.9 hilltop acres accessed by a private road made Haven Hill a standout among the 13 nearby properties offered for $2 million or more. Even though Haven Hills owners desired a rapid sale, they spent four weeks analyzing pricing with listing agent Kristin Bouchard from Coldwell Bankers Beverly office, who recalls, We knew we had to under-price to sell

Massachusetts

quickly. The resulting $2.3 million list price stirred interest. Bouchard says she could feel the electricity when Coldwell Bankers internal voicemail announced: An unprecedented property with a seller who really wants to sell at an unprecedented price. Interested parties had to complete extensive prequalification documentation before they could view the home. Rather than limiting interest, as Bouchard feared, this requirement added to the buzz. Within days Bouchard had five contracts, including two cash offers.

Priced to Sell Haven Hills quick sale can be attributed to the attractive asking price, the private location, and, perhaps most of all, the 11.9-acre site, which is almost unheard of in the area.

A great price, prime location and excellent condition are all prerequisites of success, but in the instance of a couple on Oahu it took a little synchronicity or prompting from a higher power as well as a hardworking agent to realize their dream of a home on the water. We had settled on staying in our current home and renovating but driving home from church one Sunday we saw a sign advertising a waterfront home, explains Stephanie Anderson. To her husbands chagrin, Anderson knocked on the door and listing agent Erin Cooper from Coldwell Banker Pacific Properties in Kailua, Hawaii, who happened to be onsite working with her stager, showed the couple the home. Four days later, after the open house, the home had three offers, including one from the Andersons. Even when a property is definitely priced to sell, you dont expect a sale in the first

Hawaii

week, observes Cooper. The Andersons offer wasnt highest, but a handwritten letter mailed to the sellers expressing their love of the land and commitment to be good stewards won over the sellers, whose family had developed the area. Committing to buy while still having a home to sell felt a little scary we almost started to freak out at one point, confides Stephanie Anderson but Coopers assurance instilled confidence.I cant say enough about how crucial she was, shares Anderson. Within days Cooper and her team had the Andersons current home ready to market.We took the house to a whole new level, rescreening, scrubbing inside and out, changing the light bulbs and adjusting window treatments to let the light in, recalls Cooper. The home sold in three weeks. Even though the new home, which fronts on Kaneohe Bay, is a funky old beach house that needs work, Anderson says the awesome view, wonderful outdoor living and special feeling of the home make it all worthwhile.Oahu means gathering place and we really feel this house is the gathering place. Everyone wants to come here, she says.

A Royal Panorama Behold the view across Kaneohe Bay from Aina Moi Pl (the Place of Kings). This waterfront paradise sold for $1.65 million, just short of the $1.699 million asking price.

With an ample supply of homes on the market, most first-time buyers dont envision a full price, or possibly higher, offer, but thats exactly what one Washington, D.C., couple was prepared to do as soon as they laid eyes on a Tudor in the Woodley Park neighborhood. Their decision, which seemed to happen in minutes, was actually a year in the making. When Bo Billups from Coldwell Bankers Dupont office first received the couples inquiry via Coldwell Bankers lead router, he anticipated a long process, but not one that last 12 months. Coldwell Banker prides itself on having someone get back to inquiries on LeadRouter within 15 minutes, but the nature of LeadRouter means the eventual sale often takes some time because not everyone is ready to buy immediately. In this case my clients had to sort out their priorities and their careers. Their search morphed several times from houses to condos and back to houses spanning 10 different neighborhoods until they knew what they wanted and what they would pay for, he says. Our job is to ask the right questions and help clients get clear about what they want. You can find a great house in a lot of places but will that house work for your lifestyle? I ask buyers a lot of questions about what is important and what

Washington, D.C.

Upping the Ante This renovated Tudor listed for $1.025 million but garnered $1.031 million. It has original features such as the trim and plaster crown molding.

they are willing to sacrifice, he explains. When his buyers were on the verge of making an offer on another property, Billups sensed some hesitation. Rather than pushing them to buy, he asked even more questions and did yet another search, which yielded the property that was love at first sight.

How Smart Is Your Home?

PHOTO COURTESY DSI ENTERTAINMENT SYSTEMS

Smart home technology is advancing rapidly. Here, we look at the latest developments and take a peek at where the industry is heading. By Camilla McLaughlin

SHADES GRADUALLY OPEN AND LIGHTS EASE ON, brightening the room. The temperature adjusts to a daytime setting, morning music gently plays. This is how a day begins in a smart home, where leaving for work is as simple as pressing an icon on a touch screen or remote to activate a preset sequence of events that idles thermostats, turns off lighting and televisions, and arms the security system. For an extended absence, the entire house can just as easily be placed into an energy-saving mode or readied for an owners return. Today, home automation systems can do almost anything an owner wants except perhaps walk the dog.

This wasnt always the case. When smart home technology debuted almost 20 years ago, it was quirky and difficult to use; few consumers warmed up to the idea of powering up their PC to turn on the lights or adjust the heat. Today, the term smart home has become a catch-all phrase for almost anything relating to technology and home, but in the strictest sense it refers to a central system, often but not always hardwired, in which heating and air conditioning, lights, entertainment, shades, music and video can be adjusted individually or programmed to work in concert using a central processor, accessed from almost anywhere via wall-mounted or tabletop touch screens, wireless remotes, computers or mobile devices. Actually, says Josh Christian, vice president for marketing for DSI Entertainment Systems in California, anything that plugs into a power source can be controlled, which means that home management often includes pool and spa pumps, hot water recirculating pumps, garage doors, driveway and patio deicers, automatic sprinkler systems, exterior lighting, sophisticated security monitoring, and even the humidity in a wine cellar. The industry is replete with examples of sometimes zany but often wonderfully practical appli-

cations, such as a mailbox that transmits a message whenever the door opens developed for a homeowner with a long, winding driveway who wanted to be notified the minute his mail was delivered. Another involves a motion sensor connected to a camera and DVR installed on the perimeter of a fence to capture the movement of wildlife. For someone who on occasion forgot to close the garage door, DSI installed some logic directing his system to close the door if it remained open for longer than 10 minutes. Not the Bridge on Star Trek Still, the old persona of being complicated and expensive hovers over the industry. Automation puts some people off because it seems like they are losing control when actually they are gaining control, explains Chip Johnson, former owner of Vision Integrated Systems in Raleigh, N.C. Home management systems are not just for the Bill Gateses of the world and not just for the computer nerds. Systems today make everything one-touch simple, he adds. Mention automation and most think of the bridge on Star Treks Enterprise, according to Christian. Once most con-

PHOTOS COURTESY LUTRON

Shading Control Shades in one or multiple rooms can be programmed to automatically adjust for shade or privacy. The option of syncing with the astronomical clocks keeps settings current with the season.

sumers experience automation and discover how it enhances their lives they find they cant live without it, he says. Many electronic systems contractors such as DSI have showrooms that give potential customers the opportunity to see what technology can do and to use interfaces such as touch screens in settings similar to a media room or kitchen. Increasingly, technology is integral to the way upscale

ed, we saw that home automation was not an option for many homeowners simply because it was just too expensive, says Eric Smith, chief technology officer and one of the founders of Control 4. The companys focus was on developing wireless technology, which would be more affordable and also allow owners to add new devices and products over time. Now, a number of manufacturers, including

Take Command Anywhere Technology today is intuitive and easy to use. Icons on touch screens, wireless remotes or even mobile devices allow owners to access climate, lights, security and entertainment from virtually anywhere.

PHOTO COURTESY DSI ENTERTAINMENT SYSTEMS

homes function and has become a must-have feature rather than a nice-to-have amenity. Ive actually had more interest in automation than a year ago. Higher-end buyers are still looking for smart-home technology but they are more value conscious, says Dan Merrill, president of Suretechs Inc. in San Diego. Until about five years ago, consumers had few choices other than a hard-wired system, so most candidates for smart-house technology were new homes or those undergoing an extensive renovation. Utah-based Control 4, which was founded in 2003, is one of a handful of companies driving innovation in the industry. When Control 4 was start-

Crestron Electronics, offer wireless products. With the advent of wireless,were seeing price points come down, says Dave Pedigo, senior director of technology for CEDIA, a trade association for companies that specialize in installed electronic systems for the home. In the past, the home had to be completely wired; now we have wireless devices communicating back and forth, he explains. Even the most expensive hard-wired systems today will include some wireless devices. Costs for a home automation can range from several thousand dollars or less to retrofit an existing house with the basics, including a controller, several thermostats, light-

ing controls, perhaps even a remote camera for security monitoring, to $50,000 or more, depending on the size of the home for a high-end system. In addition to being hardwired, high-end solutions from companies such as Crestron and AMX are programmed to exactly match an owners preferences while less costly setups typically offer a set menu of predetermined options.

wireless devices is making lighting controls less costly, giving owners in the middle market, according to Scheetz,new benefits they didnt know were accessible to them. Builders in this $500,000-plus range also are discovering that lighting controls are a way to differentiate their product. Scheetz discovered this first-hand when he sold his own home and the two potential buyers who eventually bid on the proper-

PHOTOS COURTESY DSI ENTERTAINMENT SYSTEMS

Now You See It, Now You Don't The best technology is virtually unseen until you need it. In the Esquire House, the television is concealed at the foot of the bed and the touch screen next to it can change lights, music and security all over the house.

No One Way to Automate Today, home technology is no longer an all or nothing proposition. Consumers can opt to have a fully integrated system covering the entire home; they can choose to incorporate security, climate control, lighting and entertainment in selected spaces or simply to have one or two functions automated in a single room. On the higher end there is no question that a larger percentage of homes are getting a lighting control system and window shading is also becoming part of those luxury homes, says Phil Scheetz, home systems marketing manager for Lutron Electronics. The introduction of easy-to-install

ty came to see it simply because of the lighting. Recently Lutron launched AuroRa, a basic lighting system that works right out of the box and includes five dimmers, a tabletop master control that switches all five individually or simultaneously, a wireless controller and small central antenna which can be located in a closet or tucked behind furniture. The wireless remote even can be used from a car to turn on lights in the house. Looking ahead, experts expect energy efficiencies and potential savings will lead to a more widespread incorporation of technology into homes. New wireless occupancy sensors can simply be screwed into a ceiling fixture and pro-

Setting The Scene Wireless shade and lighting controls for a single room can be adjusted using a universal remote or wallmounted keypad, making this family room media-ready in seconds.

grammed to turn lights off or turn them on to a preset level using a compatible wireless dimmer. Controls for lighting, shades and drapes can be keyed to the astronomical time clock so they automatically adjust as the position of the sun changes. Lutron recently introduced a wireless window shading system that manages shades in one room, multiple rooms or an entire home. Also new, and a finalist in CEDIAs best new product competition, is Lutrons wireless light and shade control for a single room. Users can adjust lights, including lamps, shades and drapes, using a universal remote, home automation systems or wall-mounted keypad. Green Light for the Industry On the horizon are a host of products designed to help consumers keep tabs of energy usage in their homes at any given moment and also to reduce consumption even

when away from the home in times of high demand. Expect more electronic systems contractors to include energy and water management tools. Solar technology will be another added boost for technology. Also fueling future growth, according to CEDIA, will be the development of more reliable and less costly media hubs, allowing for whole house distribution of audio and video. Although there will be more out of the box solutions, Pedigo cautions: While many new products are marketed as do-it-yourself projects, the integration of these products really requires a professional to ensure that the system works to its maximum performance and reliability. Although products that address individual function will continue to be desirable, the most benefits of smart home technology will still come from the synergy of all the components working together.

PHOTOS COURTESY LUTRON

Layered Lighting From entertaining to reading, all of the lights in a space can be programmed for specific tasks and to shut down.

Italy: Fashionably Exclusive

Its not always easy to buy choice real estate in Italy. But thats part of the appeal. By Roger Grody

ITALY EVOKES A PALETTE OF SENSUAL IMAGES and emotions in every realm of life: food and wine, architecture, painting and sculpture, opera and cinema. Its culture is widely exported but is fully appreciated only in its native environment. The countrys luxury real estate market attracts an exclusive clientele. continued

Lake Como

Rome

The Piazza di Spagna

In Rome, the historical city center is most desirable, but livable space commands a premium. Modest one-bedroom lofts often less than 500 square feet are priced at 500,000 euros, the equivalent of more than $700,000. Further evidence of the dollars weakness but a better value overall is a 2,800-square-foot luxury apartment with sweeping city views, listed for approximately $2.8 million. Coldwell Banker Italys Silvia Sbarra reports that while Roman real estate prices have held, it now takes six months to sell a beautiful, appropriately priced property that would have been snatched up in a single month back in 2006. She indicates sellers are often convinced their homes are unique and are therefore stubborn about pricing. Most properties ultimately sell at an 8- to 10percent discount from the asking price. Its not easy to advise sellers to be realistic, but if you provide them with reliable information, they eventually trust you and start behaving differently, she says. The most popular neighborhoods are close to familiar landmarks such as the Coliseum and Fontana di Trevi. The Piazza di Spagna (Spanish Steps) is a coveted location, where prices can reach the equivalent of more than $2,600 per square foot (more than $3.5 million for a 1,350-square-foot apartment). Popular with filmmakers, politicians and families attracted by detached villas with gardens is the Parioli area, less than a kilometer from the center of town. Another elegant lower-density district is Camilluccia (northwest of central Rome), where a 2,000-square-foot villa costs approximately $2.6 million. Foreigners represent only 5 percent of all buyers, and very few Americans are currently among them, according to Sbarra. Patrizia Comello, president of Coldwell Banker Italy, explains the current dearth of American buyers. Why should they go abroad when our prices are holding and when American real estate is lessand when the dollar is weak against the euro?

Rome

The Coliseum

Three Charming Italian Homes Lake Como: Listed at approximately $996,300, this recently renovated apartment in a historic building in Tremezzo enjoys stunning views of Lake Como. Rome: Located in a century-old building in the historic center of Rome, this luxurious 2,800-square-foot apartment is offered for approximately $2.85 million. Palazzo Bardi, Florence: This enchanting pied-a-terre in Florence boasts more than 1,900 square feet in a restored 15th-century palazzo with 17th-century frescoes.

Lake Como

Lake Como

Tuscany
Palazzo Bardi, Florence

Palazzo Bardi, Florence

Florence

Tuscany

Irving Stone, whose book,The Agony and the Ecstasy, was inspired by Michelangelo, wrote: Tuscany is a state of grace. The countryside is so lovingly designed that the eye sweeps the mountains and valleys without stumbling over a single stone. The very term, Tuscan villa, has become synonymous with luxury living, whether amidst rolling vineyards or on a sun-kissed coast. Florence, the romantic capital of Tuscany, has a relatively tight real estate market, reports Comello, a Tuscan native. The local people love their town and tend to stay there, resulting in a lack of inventory. Greater activity is found in the countryside and on the Versilia Coast, where second-home buyers are drawn by the charming seaside villages of Forte dei Marmi and Pietrasanta. Beginning in the 1980s, Brits and Americans began buying neglected farmhouses and refurbishing them into luxury properties (so many British expats arrived that the Tuscan region of Chianti was nicknamed Chiantishire). Now, almost everything available already has been restored, eliminating the joys of transforming a diamond-in-therough into a glitzy estate. Prices for small farmhouses begin at about $1.4 million, elaborate homes can command more than $8 million, and prices have been known to exceed $28 million when productive vineyards adjoin large estates. Sellers in Tuscany, like much of Italy, are reluctant to compromise on pricing, which may account for prices holding steady despite a global economic downturn. But Comello insists that sellers have to face reality, even declining to represent clients who ignore her counsel to price their properties realistically. She quips,La festa finita (the feast is over), in reference to the boom years being a thing of the past.

Milan is a business city, but its cosmopolitan sense of style feeds off the presence of the legendary Italian fashion industry. Luxury prices generally have been comparable to Romes, peaking in 2007 at the equivalent of about $2,250 per square foot. Today they are closer to $1,700 per square foot in desirable neighborhoods in the historic city center, near landmarks such as Duomo di Milano (Milan Cathedral) and La Scala, the famous opera house. A 450-square-foot studio apartment which most Americans would consider charming but not luxurious is likely to cost more than $700,000 and require some work. The most exclusive real estate is not in Milan but in the nearby lake district, where palatial estates on the shores of idyllic Lakes Como and Maggiore command stratospheric prices. The Villa Versace sold for more than $50 million last year to a Russian buyer. According to Comello, it is a good time to buy in Milan and throughout Italy, as inventory is abundant and sellers are beginning to negotiate. However, Italian banks have been relatively conservative, and foreclosures have not yet emerged as a major problem. There are no major restrictions for foreigners wishing to own property in Italy, but the market dynamics are sometimes difficult for Americans to appreciate. Comello reminds us that Italians continue to view real estate as an investment for life.In contrast to Americans, who move every five years, Italians stay in the same home for 40 years, she explains.

Milan

Florence

A Bath and a Half

Spas and other high-end bath items have become the norm in today's luxury home By Jennifer Martin
PHOTOS COURTESY TROY ADAMS DESIGN

THIRTY YEARS AGO, IF YOU OWNED a supersized showerhead with pulse and massage settings, you possessed some sophisticated bathroom gadgetry. Today, the luxury home spa encompasses thousands of potential products, from towel warmers to home computer systems that let you draw a bath from the kitchen. Consumers are looking for bathroom products to rival any fine spa in a resort. The shower, for example, no longer confines water to one port. In high-end home spas, the touch

of a button will trigger body jets from multiple locations, catching the body in a cross-fire of water that massages tired backs and legs. Award-winning resort designer Tag Galyean designed perhaps the most expensive shower in the world, the SilverTAG, priced at $100,000. The exotic contraption comes with 18 showerheads located in six zones - overhead, shoulders, upper torso, lower torso, upper legs and lower legs. Each zone comes with independent controls for pressure and temperature. Alternatively, the home-

PHOTO COURTESY TEUCO

Underwater lighting, a magnetic headrest, remote control and a pullowner can use a touchscreen to choose from several massage sequences out shower add convenience. The tub can be finished in woods and designed by spa specialists. Those sequences can even be customized natural stones to help it blend into its environment. for each client, adjusting for chronic problems with muscle tension or The Sorgente Bathtub is part of a trend toward bathrooms with stress. One Internet reviewer said, The process of compiling the perminimalist lines and natural elesonal profile for a SilverTAG ments such as wood and stone. Shower is not unlike being interDesigner Troy Adams has built viewed by a psychiatrist. on this aesthetic with FusionDeFor a more modest Bathrooms lend themselves to sign, an approach that blends amount, about $1,500 to $5,000, FusionDesign because you can employ a lot both Asian and European design ThermaSol can convert your elements into furniture and home shower into a steam bath. of cutting-edge fixtures and then pair them appliances throughout the home. The company offers extra options with soothing, natural materials, he says. Bathrooms lend themsuch as aromatherapy, with sevselves to FusionDesign because en essential oils, and chroTo cover American design principals, I you can employ a lot of cuttingmatherapy, a series of colorful promote the idea of space. edge fixtures and then pair them lights designed for relaxation. with soothing, natural materials, Also available is a high-perfor Troy Adams he says. To cover American mance music system capable of design principals, I promote the playing FM radio, MP3s, CDs, idea of space. DVDs, satellite radio and cable Adams designed one 500channels. square-foot bathroom with Asian-inspired furnishings, such as a stainPrefer to soak in a hot tub? The Sorgente Bathtub from Teuco less steel soaking tub that sat atop river pebbles. A water sculpture is a sunken tub that blends into a bathroom with subtle elegance. Resemallows the bather to hear the soothing sound of water at all times, bling an infinity pool, the tub comes with eight whirlpool jets that funcwhile teak wood accents and a yellow color palette add to the Zen-like tion quietly in order to give the user a more soothing experience.

PHOTOS COURTESY TROY ADAMS DESIGN

atmosphere. Adams often adds an air of cosmopolitan sophistication with subtle European design accents, such as Hansgrohe faucets, LED efficient pendant lights and frosted glass windows. Even when the bathroom offers limited space, a seasoned designer can come up with ways to create a spa-like retreat. Designer Barbara Kohn once planned a new approach for a master bathroom in Connecticut that was small by conventional standards. She tiled the entire room in small, iridescent mosaics, with the fabric of the window drapes echoing the colors in the tile. A subtle knotted chair became a graceful focal point. The goal was to create visual interest without overwhelming the space, Kohn explains. To designer Minoo Hersini, creating such welcoming spaces is a powerful way to help homeowners relax. In one recent assignment, she renovated a guesthouse into a new home spa by using accents such as Spanish porcelain tiles and Boffi International towel racks. I used Rainsky Balance Modules from Dornbracht, she adds, referring to a stainless-steel shower that creates a curtain of vertical rain. The system includes mist projectors, colored lights and a sequence of fragrances, as well. Hersini added windows looking into the garden and pool areas. The client and I turned the guesthouse into a soothing and elegant spa, she says.It was a beautiful project that by far set this cottage apart from the rest.

When Your Bathroom Meets the Jetsons

If your new home spa seems overloaded with high-tech equipment, you can bring it back to earth with rustic finishes. Consider a chiseled marble sink, wrought iron candle holders, limestone floors, a rattan bench or aged Tuscan copper planters. A cabinet or armoire made of fragrant Mexican pine adds a nice touch.

Closet Couture

By Ken Weingartner

PHOTOS COURTESY LA CLOSET DESIGN

Space. The final frontier. Closet space, that is.

THATS THE VIEW OF MATT RILEY and many others who transform closets from simple storage spaces for clothing and shoes into luxury living areas. Sure, the wardrobe is the focal point, but ancillary features such as plush seating, custom cabinetry, coffee bars, refrigerators and even televisions and electronics are turning the closet into a home within the home. continued

Closet Couture
continued from previous page We say the closet is the last frontier of the home, says Riley, who is the director of client relations for Florida-based Thomas Riley Artisans Guild.Were definitely seeing clients are willing to be a little more adventurous in the design of their closets. They might go more modern in their closet space than they would in the rest of their home. For people who have a more traditional living environment, the closet is someplace they can do something different. Sometimes, it can be different, and creative. Lisa Adams, the CEO and designer for California-based LA Closet Design, recalls installing a removable stripper pole in a closet. In a very tasteful way, notes Adams. It was her exercising space, as well. Luxury closets, some of which are in the vicinity of 1,000 square feet, can be sectioned into separate areas for clothing, shoes, accessories, and dressing, as well as for jewelry or other valuables and collectibles. Sometimes, whats in the closet are the most expensive objects in the whole home, says Melanie Charlton Fascitelli, the founder and president of New York-based Clos-ette and author of Shop Your Closet. Depending on the amenities, a closet can provide someone an area in which to relax while getting ready for his or her day (and hisand-her closets are most common in these settings). But regardless of the extras, functionality remains the primary goal. Among items growing in popularity are automated clothing and shoe carousels. Many closets have layouts similar to an upscale fashion store. I think storage and organization are at the forefront and then the aesthetic or feel for the room comes next, says Fascitelli. Men like a lot of gadgets, thats the norm, but a lot of my clients who are male also like using their space for a boutique-like setting as well. Its so customized and so personal. Adds Riley, If someone is fashion-oriented, they typically will have a wardrobe that is very valuable and very diverse. We spend a lot of time with them on how that person likes to operate. What order they like to dress, how far back they like to be from their garments to get a view of them. Is it a place where they have a cup of coffee and get comfortable and do a little lounging as well? Its definitely the most intimate place in your home. Adams calls an organized luxurious closet the ultimate fashion accessory. People are starting their day in the space and it feels good while youre in there, says Adams.I equate it to dressing rooms back in the 1800s, and how that was commonplace. Its not like youre scrambling and dont know what you have to wear. It helps make people feel better about what they have, and to appreciate it. It goes beyond just the clothes and housing the clothes. People care about the space, so why not make it a happy space? One that youre proud of.