HOW TO MAKE YOUR BEDROOM FEEL LIKE A LUXURY HOTEL

Enjoy the spirit of five-star hospitality in the comfort and convenience of your own home by taking some cues from some of the world's finest international hotels

Imagine being able to enjoy the unbridled luxury of a hotel suite every night. To slide between the finest sheets of Claridges, or bathe in the boutique bubbles of The Langham before slinking into a stylish set of custom-made slippers. With a few carefully selected purchases you can re-create the nights of luxury and pampering you’d normally associate with your favorite hotel in your own bedroom.

The mattress: Vispring

Building the perfect bed is an art form, and one that luxury hotels take very seriously. Every year, five-star properties invest huge sums on downy soft mattresses and luxury bedlinen to meet the expectations of discerning guests. For a place of refuge, rest and love, the Vispring promises the comfort of a Shangri-La suite with the support of a custom-made mattress. From the level of tension in the vanadium steel springs to the softness of the wool, cashmere and silk filling, you choose exactly how your mattress is built.

The bed sheets: Frette

Favored by Claridge’s, The Ritz and The Orient Express (back in the day), Frette has been the bed linen of choice of the rich and royal for over 150 years. Such is the joy of waking between a crisp pair of Frette sheets that the brand supplies the Italian royal family, and has launched a string of retail boutiques at the behest of their customers. Their success springs from an understanding that it’s the raw materials, and not simply the high thread count, which makes for flawlessly soft sateens and percales.

The candle: Miller Harris

For luxury hotel groups, scent is as much a part of their branding as the interior décor. So it seemed a fitting union when The Haymarket teamed up with the London-based perfume house Miller Harris to develop their own distinctive Marché au Foin (French for hay market) scent. Including tones of lavender, orange, nutmeg and cardamom, the English-country-meets-urban-sophisticate connotations suit the character of the hotel perfectly, and set an irresistibly relaxing vibe. Re-create the atmosphere in your own bedroom with Miller Harris’s Citron Citron, which draws on the same citrusy notes.

The soaps: Penhaligon’s

Relaxing in a hot, aromatic bath is a pleasure few of us have time to indulge in amid the busyness of everyday life. In a luxury hotel, however, it’s the perfect way to while away an evening. Set the scene in your own bathroom with a set of Penhaligon’s soaps and toiletries. The Langham in London provides each guest with an enviable selection of the luxury perfumer’s wares, including their invigorating Quercus soaps.

The slippers: Bowhill & Elliott

In keeping with the trend for bespoke footwear, Bowhill & Elliott offer a custom service of handmade velvet English slippers. Established in 1874, when Obadiah Bowhill purchased a Norwich shopfront that still serves as the base of business today, Bowhill & Elliott passed through the generations to become an enduring heritage brand of British luxury footwear that specializes in custom designs incorporating special fabrics and unique tapestry and needlework. 

Articles and photos sourced from www.chritiesrealestate.com

Pacific Union Quarterly Report: Q2 2015
July 21, 2015 by Pacific Union • Posted in Pacific Union Quarterly Reports

Inventory remained slim across the Bay Area in the second quarter, particularly in the East Bay and the Mid-Peninsula, where the months’ supply of inventory (MSI) was less than 1.0 in June. And in the final month of the second quarter, the median sales price reached a one-year high in our Contra Costa County/Tri-Valley and Sonoma County regions.

Pacific Union’s second-quarter 2015 report is packed with data and regional summaries that offer a complete look at real estate activity in the Bay Area and the Lake Tahoe/Truckee region.

Our Q2 Report also includes a comprehensive chart tracking 10 years of home sales throughout the Bay Area and Lake Tahoe/Truckee — 76 cities, towns, and neighborhoods in nine regions. A smaller version of that chart, showing regional totals, appears below. Click anywhere on the chart to see the full data set.



SAN FRANCISCO

San Francisco’s red-hot real estate market continued to sizzle during the second quarter of 2015. It was a fantastic market for sellers: Available single-family homes and condominiums were in short supply at all prices ranges, and a substantial majority of properties for sale received multiple offers. The result? Most sales prices topped asking prices, in some cases by wide margins. Typical of this was a San Francisco home offered at $850,000 that sold for $1.15 million.

Although San Francisco remains a challenging market for buyers, there still were deals to be found – particularly with the help of a savvy real estate professional. But buyers had to move fast, as it wasn’t uncommon to see attractive, fairly priced properties go under contract just days after appearing on the market. Sellers, meanwhile, faced a dilemma: Putting their homes on the market instantly placed them in the same position as buyers – scrambling to find their next home. The solution for many sellers was to negotiate a rent-back agreement with the buyer, giving them extra time to search for a new home.

Looking Forward: Sales typically ease up during the summer, but don’t mistake a less-frenetic pace for a sea change in the market. With a booming local economy and interest rates still near record lows, there will be no shortage of San Francisco buyers for the foreseeable future.

Articles and photos are sourced from www.socketsite.com

Pacific Union’s April 2015 Real Estate Update

May 7, 2015 by Pacific Union • Posted in Pacific Union Monthly Real Estate Updates
Demand for Northern California real estate remained heavy in April, with the median home sales price reaching yearly highs in the majority of Pacific Union’s Bay Area regions. And buyers weren’t wasting any time, particularly in Contra Costa County, the East Bay, Silicon Valley, and the Mid-Peninsula, where homes sold in three weeks or less.

CONTRA COSTA COUNTY
The median sales price in Pacific Union’s Contra Costa County region rose just a bit from the previous month to finish April at $1.1 million. Properties sold for an average of 2.5 percent above original price, the highest such premiums recorded in the past year.

The months’ supply of inventory (MSI) dipped for the second straight month, landing at 1.3. On average, homes sold in 19 days, nearly identical to the pace of sales one year ago.

Defining Contra Costa County: Our real estate markets in Contra Costa County include the cities of Alamo, Blackhawk, Danville, Diablo, Lafayette, Moraga, Orinda, Pleasant Hill, San Ramon, and Walnut Creek. Sales data in the adjoining chart includes single-family homes in these communities.

EAST BAY
Home prices in Pacific Union’s East Bay region moved closer to the $1 million mark in April, with the median sales price increasing to $946,500. Homes in the region appear to be more coveted than ever, with eager buyers paying an average of 16 percent more than original price in order to close a deal.

Properties sold in 16 days, the quickest pace in the past year, while the MSI fell to 0.9.

Defining the East Bay: Our real estate markets in the East Bay region include Oakland ZIP codes 94602, 94609, 94610, 94611, 94618, 94619, and 94705; Alameda; Albany; Berkeley; El Cerrito; Kensington; and Piedmont. Sales data in the adjoining chart includes single-family homes in these communities.

MARIN COUNTY
At 1.2, the MSI in Marin County reached a one-year low in April. Prices headed in the other direction, with the median sales price climbing to $1,203,625.

Homes sold in an average of 58 days, 12 days longer than in March. Buyers got a bit of a break, with the average property selling for about 96 percent of asking price.

Defining Marin County: Our real estate markets in Marin County include the cities of Belvedere, Corte Madera, Fairfax, Greenbrae, Kentfield, Larkspur, Mill Valley, Novato, Ross, San Anselmo, San Rafael, Sausalito, and Tiburon. Sales data in the adjoining chart includes single-family homes in these communities.

NAPA COUNTY
April’s median sales price in Napa County ratcheted up to $635,000, a year-over-year gain of 24.5 percent. Sellers banked about 96 percent of the original price, similar to what we observed last spring and early summer.

Homes left the market in 96 days, five days longer than in March, while the MSI increased modestly to 3.1.

Defining Napa County: Our real estate markets in Napa County include the cities of American Canyon, Angwin, Calistoga, Napa, Oakville, Rutherford, St. Helena, and Yountville. Sales data in the adjoining chart includes all single-family homes in Napa County.

SAN FRANCISCO – SINGLE-FAMILY HOMES 
The median sales price for single-family homes in San Francisco has risen every month thus far in 2015 and hit $1,350,500 in April. Overbids remained commonplace, with the average buyer paying about 13 percent above asking price to get the job done.

Homes sold in an average of 26 days, nearly identical to March’s pace, while the MSI dropped to 1.2.

SAN FRANCISCO – CONDOMINIUMSMonthlyMarketUpdate_Apr15_SFCondos
The median condominium price in San Francisco was down month over month in April, but at $1,097,500, it is up almost 20 percent from one year ago. Sellers enjoyed premiums of about 8 percent, in line with what we saw last spring.

At 1.1, the MSI was unchanged from the previous month. San Francisco condominiums took an average of 33 days to sell, two days longer than in March.

SILICON VALLEY
Silicon Valley was one of the few Pacific Union regions where home prices were not at their yearly peaks in April. But with the median sales price at $2,665,000, it remains the most expensive of our Northern California regions in which to purchase a home.

The MSI dipped to 1.2, matching its one-year low. Homes left the market in a brisk 19 days, and the average buyer paid a 6.5 percent premium.

Defining Silicon Valley: Our real estate markets in the Silicon Valley region include the cities and towns of Atherton, Los Altos (excluding county area), Los Altos Hills, Menlo Park (excluding east of U.S. 101), Palo Alto, Portola Valley, and Woodside. Sales data in the adjoining chart includes all single-family homes in these communities.

Mid-Peninsula Subregion

As in neighboring Silicon Valley, homes didn’t linger on the market very long in the Mid-Peninsula, with properties selling in an average of 21 days. The MSI improved slightly from March, but at 1.0, the region’s housing supply remains low.

The median sales price climbed to $1,688,000 with the average buyer paying 7.5 percent more than original price to successfully close a transaction.

Defining the Mid-Peninsula: Our real estate markets in the Mid-Peninsula subregion include the cities of Burlingame (excluding Ingold Millsdale Industrial Center), Hillsborough, and San Mateo (excluding the North Shoreview/Dore Cavanaugh area). Sales data in the adjoining chart includes all single-family homes in these communities.

SONOMA COUNTY
The median sales price in Sonoma County has been gaining steam every month in 2015 and closed out April at $541,000. The average seller took home almost 100 percent of the original price, the most in the past year.

Homes left the market in 55 days, more than a month faster than earlier in the year, and the MSI dropped to 1.6.

Defining Sonoma County: Our real estate markets in Sonoma County include the cities of Cotati, Healdsburg, Penngrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, and Windsor. Sales data in the adjoining chart includes all single-family homes and farms and ranches in Sonoma County.

SONOMA VALLEY
Sonoma Valley’s median sales price rocketed up to $757,500 in April, a month-over-month gain of 32 percent. Sellers received an average of 0.5 percent above the original price, the first time in the past year they’ve enjoyed any sort of premium.

Buyers took an average of 66 days to close a deal, two days longer than they did in March. The MSI in Sonoma Valley has been declining every month so far in 2015 and fell to 2.1 in April.

Defining Sonoma Valley: Our real estate markets in Sonoma Valley include the cities of Glen Ellen, Kenwood, and Sonoma. Sales data in the adjoining chart refers to all residential properties – including single-family homes, condominiums, and farms and ranches – in these communities.

LAKE TAHOE/TRUCKEE – SINGLE-FAMILY HOMES
The median sales price for a single-family home in Pacific Union’s Lake Tahoe/Truckee region dropped to $542,500, not terribly different from what we saw in April 2014. The MSI expanded to 6.4, ensuring that homebuyers in the region have plenty of properties from which to choose.

Homes left the market in an average of 103 days, in line with the pace of sales one year ago. Sellers got an average of 92 percent of the asking price, a bit less than they did in March.

Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes single-family homes in these communities.

LAKE TAHOE/TRUCKEE – CONDOMINIUMS
The median condominium price also dropped in the Lake Tahoe/Truckee region from the previous month to finish April at $281,000. At 17.9, the MSI nearly doubled from March to reach a yearly high.

Condominiums in the region sold in an average of 100 days, with the average seller receiving about 94 percent of the asking price – unchanged from the preceding month.

Defining Tahoe/Truckee: Our real estate markets in the Lake Tahoe/Truckee region include the communities of Alpine Meadows, Donner Lake, Donner Summit, Lahontan, Martis Valley, North Shore Lake Tahoe, Northstar, Squaw Valley, Tahoe City, Tahoe Donner, Truckee, and the West Shore of Lake Tahoe. Sales data in the adjoining chart includes condominiums in these communities.

Articles and photos sourced from: www.pacificunion.com 

Pacific Union Now Ranks in the Top 10 U.S. Brokerages for Sales Volume

April 3, 2015 by Pacific Union • Posted in Pacific Union News

Pacific Union is proud to announce that our firm has moved up the ranks of RISMedia’s 2014 Power Broker list and the latest REAL Trends 500 list. We are now one of the 10 largest brokerages in the U.S. as measured by sales volume.

Pacific Union’s 2014 sales volume was $6.75 billion, ranking us No. 9 on both lists, which track the largest 500 brokerages in the nation. We ranked No. 14 on the 2013 Power Broker list, No. 18 in 2012, and No. 23 in 2011. On last year’s REAL Trends 500 list, we ranked No. 13.

Our firm continues to experience in excess of 20 percent annual growth for the fifth consecutive year since the acquisition from GMAC Homes Services in 2009. We have accomplished these results organically, without acquiring other companies.

Perhaps more importantly, Pacific Union has achieved this growth with substantially fewer real estate professionals than our competitors. We were the only brokerage on both top 10 lists with less than 1,000 real estate professionals – 637 as of 2014. By way of comparison, the No. 8 ranked brokerage had roughly six times the number of real estate professionals as Pacific Union.

According to Pacific Union CEO Mark A. McLaughlin, the company’s business model of attracting and retaining only the San Francisco Bay Area’s most talented and efficient real estate professionals is the primary reason for our firm’s consistent sales volume growth over the past few years.

“This is an outstanding accomplishment that Pacific Union achieved organically without acquiring a single competitor,” McLaughlin says. “I am honored and inspired daily to play on this special team of the finest real estate professionals — the people who make this kind of amazing yearly growth possible.”

Pacific Union’s relationship with the industry’s finest professionals is a direct result of our culture and commitment to their success. “Our culture is 100 percent our most significant asset,” Pacific Union President Patrick Barber says. “It’s in our DNA, and it’s what makes us tick, perform, and provide a level of elite service to our professionals and their clients.”

Articles and photos sourced from: http://bit.ly/1MLd72O

Pacific Union and John Burns Real Estate Consulting Team Up to Deliver Exclusive 2017 Outlook

We are asked almost daily to predict the future of real estate and to answer the question “When is the best time to invest in the market?”


While Pacific Union’s regional and local market knowledge is significant and our decision-support tools are comprehensive and informative, we are not qualified as economists to provide substantive, forward-looking advice beyond a season or a few quarters.

That’s why we are pleased to announce that Pacific Union has formed an exclusive partnership with John Burns Real Estate Consulting (JBREC) to publish the first San Francisco Bay Area Real Estate Outlook 2017.

JBREC is the leading national source of independent housing research, advice, and consulting, with the goal of helping investors make informed housing-industry decisions. JBREC backs its research with detailed data, proprietary tools, and experienced professionals who hold doctorate degrees.

John Burns, CEO of his namesake consulting firm, will leverage his 20-plus years of national real estate consulting experience – as well as his MBA from UCLA and bachelor’s degree in economics from Stanford University – to provide a lens into San Francisco Bay Area real estate through 2017.

On Wednesday, Nov. 5 at 5 p.m., John and I will proudly introduce the exclusive report at the SFJAZZ Center in San Francisco. We will deliver a content-rich hour of key macro- and microeconomic attributes, risks, and variables that drive our residential real estate markets, including population growth; job growth and quality; mortgage rates; and new supply of housing units.

The presentation will include a thorough overview of the Bay Area, plus a detailed examination of the nine regions Pacific Union serves: Contra Costa County, the East Bay, Marin County, Napa County, San Francisco, Silicon Valley, Sonoma County, Sonoma Valley, and Tahoe/Truckee.

While our industry has multiple indexes that reflect the previous quarter’s results – what we call “trailing perspective”– this exclusive presentation and report will offer our real estate professionals and their clients a look into the future of Bay Area real estate.

Look for details from your Pacific Union real estate professional regarding the November event, which will be open to 350 attendees on a first-come, first-served basis. We will also stream the presentation via a live simulcast in both English and Mandarin.
Once again, Pacific Union strives to innovate and provide thoughtful market intelligence to our clients, and our partnership with JBREC is the next step in fulfilling that goal.

Sincerely,
- Mark A. McLaughlin, CEO, Pacific Union

What’s the Right Asking Price for Your Home?

Pricing a home for sale is an inexact science — some owners might call it a crapshoot — and determining the right asking price involves both psychological and practical reasons, according to a recent article in The Wall Street Journal.

An asking price is primarily a negotiating tactic, Michael Seiler, professor of real estate and finance at The College of William & Mary, told The Wall Street Journal. “When you set a list price, you’re sending a signal to the market.”

Mike McCann, a real estate professional in Philadelphia, said in the article that most sellers overestimate the value of their home, and some real estate professionals may start with a price that’s too high to avoid hard feelings or to get the seller’s business. Or, they may price it too low for a quick sale.

Setting the right asking price depends on a variety of practical factors, such as the condition of the property and recent sales activity in the area, but pricing research offers a few tips:

Precise prices suggest you are inflexible. Setting an exact asking price — say, $795,475 — could lead buyers to believe that the price is not negotiable. A round number such as $800,000 can indicate that you’re willing to consider other offers.

A few dollars can make a big difference. Pricing a property at $499,900 rather than $500,000 can subconsciously influence a buyer. It seems to defy logic, but researchers say $499,900 is perceived as a huge bargain compared with a home priced just $100 more.

A low starting price can backfire. A lower asking price may net a flurry of offers, but it may not lead to a higher sales price. “It creates a havoc that doesn’t serve anyone well,” Rebecca Walter, a real estate professional in Portland, Ore., told The Wall Street Journal.

Pricing strategies only go so far, however. Ultimately, determining a home’s real value of requires knowledge of the local real estate market and access to recent sales data. That’s where the assistance of a local real estate professional can be most valuable.

Real estate professionals typically compile neighborhood sales data to prepare a comparative market analysis, which provides a sensible starting point for price negotiations.

Seiler, the real estate professor mentioned in the article, said that without comparable sales data, “an appraiser will have no clue what a property is worth, and a buyer wouldn’t know either.”


(Image: Flickr/OTA Photos)

The Zillow Phenomenon: Don’t Confuse Momentum with Innovation

Ten years ago Zillow and Trulia did not exist — realtor.com was beginning to rule the roost of our industry. Back then every client wanted to make sure their listing was on realtor.com. Brokerages were fighting off the grip that newspaper classified advertisements had on our marketing dollars. The digital world was then becoming a more efficient and cost-effective distribution channel for our listings.      

Today, realtor.com, like Lubbock, Texas, is “in the rearview mirror.” Realtor.com has been “rolled” because it rested on industry conventions, legacy, and its No. 1 position. In my belief, realtor.com’s sense of entitlement and arrogance created the opportunity for Trulia and Zillow. Operated by the National Association of Realtors, realtor.com was friendly to the brokerage industry, but the consumer demanded more and embraced the newcomers as the incumbent rested on its laurels.

NAR and the California Association of Realtors are strategic entities in our industry and provide a powerful voice in Washington, D.C. and Sacramento, Calif.. They play a critical role in legal guidance and provide exceptional research for brokers and consumers. Important as this is, we should not count on these entities as a nimble source of innovation, vision, energy, or execution.

Demanding a Higher Standard

Our industry is resilient and must continue to respond to client demands and rapidly changing market dynamics. Consumers have clearly embraced Zillow, and it is not going away. Our industry can elect to fight the gorilla or work with it.

The inaccuracy of Zillow’s data and Zestimates are not positive influences on the industry and simply confuse the consumer. In exchange for our listings, we should insist that Zillow raise the bar on informational quality and enhance our “bill of rights.” Moreover, Zillow’s advertising clutter is insulting to our exclusive listing content.

Vision Is Required

If we don’t provide the vision and related tools for our real estate professionals, Zillow will. The company is holding the equivalent of a franchise-style convention for Premier Agents on October 15 and 16 in Las Vegas. By way of an example of excellence, Real Living Real Estate/Berkshire Hathaway Home Services seem silent and obscure on industry leadership — watching the world go by.

It’s time our industry “skates to where the puck is going to be.” Pacific Union, small on the national stage, is 100 percent willing to contribute to thought leadership in our industry.

The finest innovation that I have seen in our industry in the past 15 years is the emergence of DocuSign. The real estate platform that DocuSign is about to launch has the best chance of changing the behavior of real estate professionals and their clients since the smartphone. Before this innovation, the last real behavior-changing innovation was Adobe’s PDF and the fax machine.

Many articles in the past few days referenced “checkmate” for Zillow. While today’s acquisition may be considered a checkmate for Trulia’s extended life, Zillow still has the hardest part of its journey to come.

Wall Street will soon demand EBITDA in order to calculate a price-to-earnings ratio that is rationally justifiable. On Friday, CNBC compared Zillow to Amazon.com. Founded in 1994, Amazon.com traded at a price-to-earnings ratio of 851 last week and enjoys $74 billion in trailing 12-month revenue and $500 million in trailing 12-month EBITDA.

Amazon.com’s revenue exceeds the total revenue of the U.S. residential brokerage business in 2013 (5 million homes with an average price of $275,000 times 5 percent). To earn and support an Amazon.com-like price-to-earnings ratio, Zillow will need to put up revenue in excess of the entire residential real estate brokerage marketplace.

You, like me, can see where this is heading. AOL comes to mind.

We will not be distracted by the noise in the marketplace. We consider Zillow to be a powerful distribution channel for our exclusive listing content. We can revoke this content from Zillow at any time when a better mousetrap surfaces or if the company changes its strategy in an effort to placate Wall Street,

We welcome a think tank or strategy session with like-minded brokerage leaders who share our passion for vision and innovation.

- Mark A. McLaughlin, CEO, Pacific Union

Pacific Union Gains More Ground in National Industry Rankings

As we noted earlier in the year, Pacific Union had a phenomenal 2013, increasing our sales volume by 40 percent and growing twice as fast as the overall real estate market. These results have propelled our firm upward on two notable industry indexes: REAL Trends 500 and RISMedia’s annual Power Broker Report.For the second consecutive year, the REAL Trends 500 report ranked Pacific Union No. 3 in the U.S. by average sales price: $1,144,319. Sales volume grew from $3.9 billion in 2012 to $5.5 billion in in 2013, which boosted our company five spots up the national-rankings list. Currently, REAL Trends recognizes Pacific Union as the 13th largest brokerage in the country by sales volume.

Pacific Union had the No. 2 highest average sales price of any California-based broker and was the second fastest growing firm in the state in terms of sales volume.

And for the second year running, Pacific Union improved its standings in RISMedia’s Power Broker report, another industry publication that ranks the 500 largest brokerages in the United States.

RISMedia rated Pacific Union as the 16th largest U.S. broker by sales volume, up from No. 18 in 2012 and No. 23 in 2011. Our firm also moved up nationally by number of homes sold, to 115th from 125th in 2012. In 2013, Pacific Union sold 4,848 homes, up from 3,845 the preceding year.

We’d like to congratulate and thank our team of top-performing Northern California real estate professionals, who embody our company’s principle of elite performance. Pacific Union’s commitment to recruiting only the region’s best and brightest professionals is the reason for our outstanding results and continued success.

California Luxury Buyers Far Prefer Hilltop Views to Oceanfront Homes

Luxury homebuyers in California love hilltop views. An oceanfront home? Not so much.
Forty-one percent of buyers who purchased luxury homes in the state last year opted for a property with a hilltop view, according to a survey by the California Association of Realtors, which defines a luxury home as one costing $1 million or more. Just 10 percent bought an oceanfront home.
In fact, hilltop homes were so popular that they bested oceanfront homes and ocean-view homes combined (38 percent).
Sixteen percent of buyers in 2013 picked up luxury homes located near golf courses, followed by those in mountain areas (12 percent), resort areas (9 percent), lakefront (4 percent), and ski resorts (1 percent).
Most homes sold for $1 million to $2 million (76 percent), with 13 percent priced from $2 million to $3 million, 6 percent from $3 million to $5 million, and 3 percent from $5 million to $10 million.
Luxury buyers had a median income of $350,000, according to the survey, and a median age of 53. Seventy-one percent were Caucasian, 74 percent had a college degree, and 48 percent were single.
One-quarter of luxury buyers cited the desire for a larger home as the main reason for their purchase, while 20 percent said they wanted to upgrade their location.
The survey found that 35 percent of luxury buyers paid cash for their property, compared with 27 percent of traditional buyers and 11 percent of first-time buyers.
Because luxury buyers are likely to have larger incomes, they were also able to make average down payments of 30 percent — 5 percent higher than traditional buyers. Nearly 56 percent of luxury buyers financed their down payments via personal savings, while about 28 percent used proceeds from an investment.
In the Bay Area, luxury-home sales have jumped dramatically over the past year — up an average 27 percent from the first quarter of 2013 to the first quarter of 2014 in Pacific Union’s nine Northern California regions.

By the way, luxury buyers’ love of views was confirmed in another recent survey mentioned on Pacific Union’s blog. That Realtor.com survey found that 44 percent of buyers consider the home’s views of mountains, oceans, or cityscapes to be the second most important feature when considering a luxury purchase. The most important feature, at 54 percent, was a chef’s kitchen. 


(Image: Flickr/Sonny Abesamis)

Pacific Union Wins Christie’s International Real Estate Affiliate of the Year Award

From left to right: Pacific Union President Patrick Barber;
CIRE CEO Bonnie Stone Sellers; Pacific Union CEO
Mark A. McLaughlin; CIRE Senior Vice President,
Western Region Zachary Wright; and Pacific Union
Vice President of Marketing Jessica Frushtick
at the conference in Barcelona, Spain.

We’re very excited to announce the news that Christie’s International Real Estate has named Pacific Union its “Affiliate of the Year” for 2013.


Pacific Union, one of 139 global affiliates in the Christie’s network, won the top honor for its creative and effective marketing, superior branding, and innovation. Christie’s presented the award earlier this month at its annual global conference in Barcelona, Spain.
“A true industry leader, Pacific Union has long been known for its innovative programs and quality services, and we are proud to award the company with this prestigious distinction,” Bonnie Stone Sellers, CEO of Christie’s International Real Estate said in a statement.
Pacific Union CEO Mark A. McLaughlin calls the accolade a “deep honor” resulting from collaboration and teamwork.
“We are deeply honored to receive this award and look forward to continuing our fantastic collaboration with Christie’s for many years to come,” McLaughlin said. “Our exclusivity with this prestigious brand undoubtedly helps us deliver the very best in Northern California luxury real estate to clients from around the globe.”

Mark A. McLaughlin, Pacific Union CEO, Named Nation’s Top Real Estate Leader

Mark A. McLaughlin, CEO of Pacific Union, has been named the recipient of the 2013 RISMedia Real Estate Leadership Award. McLaughlin accepted the award at RISMedia’s annual Power Broker Dinner on Nov. 8, held in conjunction with the National Association of Realtors Conference & Expo in San Francisco.

The national award recognizes a member of the real estate community who embraces innovation and exercises resilience to blaze new paths to success for real estate professionals and consumers alike.

“I am seriously humbled by this award, which goes to my team at Pacific Union as I am far more dependent on them than they are on me,” said McLaughlin. “It’s exciting for all of us to see our hard work recognized with this exceptional industry accolade.”

Since McLaughlin took the helm of Pacific Union in 2009,the company has enjoyed exceptional growth. Sales volume more than doubled, market share increased by at least double digits in all regions served by the brokerage, and its 70 percent growth from 2010 to 2012 prompted the San Francisco Business Times to recognize Pacific Union as one of the Bay Area’s 100 fastest-growing private companies. Pacific Union was one of only two real estate brokerages to make the list.

In addition, Pacific Union was included in the 2012 Inc. 5000 list – the only full-service real estate brokerage in the Bay Area to make the cut.

Pacific Union has established itself as an innovator in both marketing and technology. Earlier this year, the firm initiated a partnership with the America’s Cup Challenger of Record, Artemis Racing, that created unprecedented opportunities for client engagement and spawned a jaw-dropping advertising campaign featuring images of the sailing team in action.

This month, Pacific Union unveiled a $650,000 custom-commissioned technology tool that with the touch of a button allows real estate professionals to offer clients a comparative market analysis that may be presented three ways: via a proprietary and fully interactive iPad app, on a secure website, or as a high-quality printed presentation.

Pacific Union is also the only Bay Area brokerage to fully fund and support an in-house digital media division staffed by journalists.

However, said McLaughlin, such innovation isn’t a goal in and of itself; all of the company’s trailblazing choices have been made with the fundamentals of client service in mind.

“Our business thrives on trusted relationships, knowledge, advice, and recommendations,” he said. “We choose to make investments in technology and solutions that support these linchpins to our success and enable our real estate professionals to offer extraordinary service to their clients. Our results — and the RISMedia Leadership Award — are proof positive that while everyone says they’re doing something different, we are actually executing on our vision.”

Quick Pacific Union Facts:

• 25 offices
• 525 real estate professionals
• 2009 sales volume: $2.2 billion
• 2013 sales volume: $5.2 billion
• No. 3 in U.S., 2012 average sale price (REAL Trends)
• No. 3 largest real estate firm in the Bay Area, 2012 (San Francisco Business Times)
• No. 5 in U.S., 2012 sales volume per associate (REAL Trends)
• No. 18 in U.S., 2012 total sales volume (RISMedia)
• No. 125 on U.S. Power Broker list (RISMedia)
• Named to 2012 Inc. 5000 list

Bay Area Market Appreciation: A Glimpse Into the Future

We are frequently asked how long the current real estate market or housing cycle will run. Our industry is not short on opinions, predictions, and speculations. This past month, I reviewed the most comprehensive housing report I have read since 2007: the John Burns Real Estate Consulting Home Value Index.

The report defines housing-cycle risk as a function of demand, supply, and affordability. This is a fairly simple perspective that comes as no surprise. The forecast or outlook is dependent on job growth for demand and excess supply in the form of new construction or foreclosures. On a relative scale compared with the housing market in the U.S., our local markets have limited excess supply at this time.
The Burns report goes on to note that the markets with the most upside are clearly those that experienced the most significant downs. Again, this concept is not overly complex, and the variables are relatively easy to comprehend.
The most stimulating aspect of the report is in the Burns Home Value Index Forecast for December 2017. We have often struggled with the S&P/Case-Shiller and similar indexes, which generally offer perspectives based on 90 to 120 days trailing market performance and do not look forward.
The Burns report cites summary research from nearly 100 economists’ responses to questions about housing appreciation in the U.S. from Q4 2012 through December 2017. The Burns report estimates 35.9 percent appreciation through December 2017, with more than 9 percent already realized through September 2013. The 100 economists’ consensus for that same time frame was 22.9 percent appreciation, with 6 percent already realized.
The Burns report provides regional outlooks on nearly 100 markets. The Bay Area findings are illustrated in the table below:

Click to download larger chart.

With the caveat that real estate is local and each neighborhood and home is unique, these forecasts are very reassuring. In particular, the outlook for 2017 is exceptionally encouraging. However, the report illustrates that the majority of the lift in the market will occur in 2014 and 2015, with modest to flat growth in 2016 and 2017.
The opportunity to realize value in real estate and historically low mortgage rates is now. Mortgages will likely exceed 6 percent by 2016, a 30 percent increase from today’s rates.
Your local Pacific Union real estate professional is uniquely positioned to review macro trends and neighborhood specifics to assist you in your residential real estate investments. Please remember that your most significant real estate investment is in your home — which is a place to live and create memories — rather than just your house.
– Mark A. McLaughlin, CEO, Pacific Union


(Image: Flickr/401(K) 2012)

Team Pacific Union Tops at Susan G. Komen Race for the Cure for Second Straight Year

Pacific Union is excited to share the news that our team finished No. 1 in the annual Susan G. Komen Race for the Cure, held on the morning of Sunday, September 29 along San Francisco’s waterfront. This marks the second consecutive year that team Pacific Union has posted the fastest overall time, finishing nearly 40 seconds ahead of the next-closest team.
This year, 217 of Pacific Union’s real estate professionals and their families came out to help end breast cancer, making it the second straight year we’ve fielded the largest team. All told, our team members raised more than $18,000 for the Susan G. Komen organization, which has been funding research to fight the disease since 1982.
Our 2013 fundraising totals and team-member count were up nearly 30 percent from last year’s numbers.
Team Pacific Union finished the 3.1-mile race with a cumulative time of 1:41:19. All of our team’s top five runners crossed the finish line in less than 22 minutes, and three of them placed within the top 15 overall.
San Francisco’s Ky Faubion led the Pacific Union team, finishing seventh overall with a race time of 18:52. Hot on his heels was Blake Pearson, also of San Francisco, who crossed the finish line in 19:26 to place 10th. Scott Kalmbach, of Mill Valley Calif., claimed the 15th overall spot, with a final race time of 20:55.
Although we’re certainly pleased with team Pacific Union’s elite race performance, we take the most pride in the fact that we’re doing our own small part to help wipe out a disease that currently affects one in eight women and one in 25 men.
“I am so proud of our Pacific Union family and all those that participated in Komen’s Race for the Cure,” says Patrick Barber, president of our San Francisco region and race-team captain. “To date, Komen has funded nearly $2 billion in research grants and has no endowment.
“Their mission is to eradicate this disease and close their doors,” continues Barber, “and we are all looking forward to that day.”
For a closer look at our team and the racing action, watch this video we’ve compiled:

Pacific Union Moves Up In National Ranking

Spring has brought new velocity for Bay Area real estate, with home prices moving upward, buyers champing at the bit, and new housing inventory coming onto the market. It’s also brought new accolades for Pacific Union, which for the third year in a row has ranked as one of the top real estate firms not only in California, but in the entire country.

In the just-released 2012 Real Trends 500 Survey, which ranks the 500 largest residential real estate brokerage firms in the U.S., Pacific Union ranked third nationwide with an average sales price of $1,002,194.

It also finished fifth in the nation in productivity, with an average sales volume of $8,154,019 per real estate professional.

Other notable results:

• Pacific Union was the number-one Real Living affiliate in the country based on homes sold (3,824)
• We ranked #10 by increase in closed sales volume (a year-over-year increase of $1,206,997,553)
• We climbed six spots from last year’s list to rank at #18 in closed sales volume overall for 2012
  

The latest recognition comes on the heels of Pacific Union’s inclusion in the San Francisco Business Times’ list of the top residential real estate firms in the Bay Area, and Real Estate Magazine naming us one of the top power brokers in the United States.

Congratulations to our amazing team of real estate professionals, who outperformed almost all of their peers nationwide to help us post these incredible results. We’re looking forward to more success to come!

2012 Sales Up Phenomenal 45% at Pacific Union

Pacific Union experienced tremendous growth over the past year, but even we were surprised (and pleased!) to learn that our sales growth in 2012 was more than double that of any other large real estate firm in the Bay Area.

The Painted Ladies
San Francisco

The San Francisco Business Times last week published its annual list of the Bay Area’s top residential real estate firms, and Pacific Union retained its ranking as the third largest in the region with 2012 gross sales of $3.3 billion in San Francisco, Marin, Alameda, and Contra Costa counties. Coldwell Banker was No. 1 with $9.8 billion in sales, and Alain Pinel was No. 2 with $5.8 billion.

However, measured by sales growth, Pacific Union led the pack with 2012 sales rising a phenomenal 45 percent from the year before. Sales were up 21 percent at Coldwell Banker, 19 percent at Alain Pinel, and 9 percent at J. Rockcliff, while sales fell 4 percent at Mason-McDuffie.

Pacific Union’s growth has tracked the strong rebound in the Bay Area’s real estate market in 2012 and into 2013. The region has led California and the nation in rising home prices and sales.

Pacific Union is the leading luxury real estate brand in Northern California. We are known for our neighborhood expertise, our team of talented real estate professionals, and our unflagging commitment to our clients. We don’t define “luxury” by the price point of a home; we define it by the quality of our people and our unparalleled service.

The company is locally owned, with more than 450 real estate professionals in 21 offices in the Bay Area and Tahoe/Truckee. We offer a full range of personal and commercial real-estate services: buying, selling, relocation, mortgages, insurance, and property management.

(Photo courtesy of www.Stitchesinlife.com)