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At the end of 2008, Marquette Turner launched an international competition with 99designs to find a design to commemorate our company’s winning of the title of The World’s Most Outstanding Luxury Agency Under 2 Years Old by the Who’s Who in Luxury Real Estate.

An exceptional number of quality of designs were entered from designers on all corners of the Earth, from Madagascar to New York.

The winning design, as shown below, was designed by Janet Boschen in Melbourne, Australia.

Thanks to everyone whom entered – we certainly look forward to holding more future competitions.

Simon Turner

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Marquette Turner Luxury Homes were awarded the World’s Most Outstanding Luxury Agency Under 2 Years Old in 2008 by the Who’s Who in Luxury Real Estate, and we would like a design to use on our marketing material.

Any one from anywhere can enter this competition via the award winning 99designs website.

Read the DESIGN BRIEF to find out more details of the competition and enter.

Good luck, and stay tuned for more future competitions, or email us (info@marquetteturner.com.au) if you’d like to be informed of new competitions.

Simon Turner

A $80 million AUD luxury development in Point Piper, Sydney, has been handed over to the banks after two of the companies for which property tycoon Michael Bezzina was associated, Caprice Pty Ltd and Pyoanee Pty Ltd, were place in receivership.

Located in Point Piper, Mr Bezzine was expecting to achieve $14 million AUD for the penthouse-style apartments, however, three of the apartments have allegedly exchanged for $10 million AUD each.

The development comprises waterfront apartments, each occupying an entire floor with balconies looking out to the Harbour Bridge and Opera House. They have four bedrooms, four bathrooms and a guestroom, as well as a jetty.

In September, one of Michael Bezzina’s company’s that developed the $100 million AUD Jade complex in Surfers Paradise, was put into liquidation. The company reportedly paid $17 million for the site six years ago, of which six out of the nine apartments have sold, one of which sold for almost $20 million, while the penthouse at the complex remains on the market for $22 million.

It is worth noting that the quality of Bezzina’s developments is outstanding, and his financial troubles should not be allowed to cloud the stunning properties that he has been involved in creating.

Simon Turner

FYI: Read related articles on Sydney Property; or Luxury Homes; or Sydney Harbour

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Here are the auction clearance rates for Australia’s capital cities for the week ending December 14, 2008.

Source: RP Data

Simon Turner

FYI: Read related articles on Auctions; Clearance Rates; Buying property

THIS WEEK’S ARTICLES: Rainforest Living in Queensland; Raffles Residences Manila; Swarovski Bathroom Faucets; Chinese Property Taxes; US interest rates; Australian Banks on the Assault; The Malibu Home of Sting; The Rotating Bath Tub; The W New York…

We bring you the last installment for 2008 of our look at luxury property, design and concepts from Australia and around the world.  Your support throughout the year has made the MTLH blog the most viewed of its kind in Australia and contributed to Marquette Turner Luxury Homes being named as The World’s Most Outstanding Luxury Agency Under 2 Years Old.  Not bad in just a year, and 2009 promises to be even bigger and better.  Thank you!

Please enjoy this week’s articles, or as always you can stay here and read the MTLH blog.

We wish you a fantastic & safe festive period.

Michael Marquette & Simon Turner

Subscribe to the MTLH e-magazine.


LUXURY HOMES
See our luxury homes showcased in Australia & Around The World


FINAL THOUGHT

“Cheers to a new year and another chance for us to get it right.” Oprah Winfrey

There’s the Palm Shaped Island and there’s the Map of the World. And just when we thought planners in Dubai could possibly have run out of new concepts, they’re planning the Universe!

Suddenly buying a tree branch or a country doesn’t look quite the same, when Saturn or Mercury are on offer!

Whilst a couple of decades will probably be required to create the islands (when perhaps real estate throughout the world will have been through a few more cycles), Dubai certainly shows no interest in slowing down their creativity.

Simon Turner

FYI: Read related articles on Dubai; or Palm Island; or real estate

Simon Turner

FYI: Read related articles on Auctions; or Luxury Homes; or Buying Real Estate

Once you list your home for sale you may find it difficult to step aside and let your agent take over.  You may be wrestling with the temptation to linger around while prospective buyers view your home, hoping to get the chance to point out all of the “bells and whistles” you know make your house more “sellable”.

If you really want to help, however, you will leave the house whenever it is being shown.

We have found that the sales process does not really begin until buyers have begun to voice their personal objections about a property, which makes their motives, plans and position much clearer to the agent.

Unsurprisingly, most buyers are unlikely to feel comfortable voicing their opinions in front of the home owner.  Many buyers are walking through with family members or friends and want to be able to openly discuss the pros and cons of the home.  Sometimes their objections are serious enough to remove your house from consideration.  This may not be the case though, as oftentimes homebuyers have specific criteria they are “judging” the home on and just want to make sure it measures up the their wants and needs.  If they really like the house they are going to want to talk freely and openly about the pros and cons of the home.

It is often difficult for the home owner to listen to buyer objections without taking them personally, and this is often the case sometimes even when the agent is conveying these objections to the owner.  Regardless, it is important to remember that these objections often do not reflect actual criticism of your property, simply the “inner monologue” of a buyers thought and later negotiating process.

If a seller is standing at the agent’s elbow, the buyer won’t be comfortable enough to allow the process of raising objections take place. If the buyer feels intimidated or suppressed, the sale could be lost.

Also, if the home owner is pestering the buyer about how great their home is then they might feel like there is something that they are trying to cover up.  The best way to help is to give your real estate agent room to make the sale.  They will be viewed as far more impartial and this is ultimately what you have engaged their services for.

A quality agent, will have excellent credentials and come highly recommended.  Ask them prior what training they have had, if they are trained in negotiation, and what associations/awards they have to their name

Michael Marquette

FYI: Read related articles on Real Estate Agents; or Luxury Homes; or Selling Your Home

More information: Marquette Turner Luxury Homes, 2008’s Winner of the World’s Most Outstanding Luxury Agency Under 2 Years Old, are tertiary trained in negotiation and are one of Australia’s just two Board of Regents for the prestigious Who’s Who in Luxury Real Estate.  Contact us to find out how we can represent you on +61 433 170 170 or email michael@marquetteturner.com.au


Further to our recent report of the NSW tax hikes to hit the property industry, now it’s been revealed that Queensland Premier Anna Bligh plans to impose a special tax on landholdings worth more than $5 million.

Under the property tax surcharge, part of a series of measures introduced as the QLD Government attempts to plug a $4.3 billon hole in the state’s budget over the next four years, landholders who own parcels of land will pay a 0.5% surcharge from 2009-10.

Sure to hit property developers hard at a time when the industry can least afford it, the decision will also likely cost 3500 jobs. It is important to recognize that the property sector employs one in seven workers in Queensland.

On top of the property tax surcharge, the Bligh Government has also raised vehicle registration costs by an average of 6.5% and delayed the abolition of transfer duty on core business assets by 18 months.

Whilst we are in no way suggesting that the Queensland Government shares similar brain cell(s) or genes than the hapless NSW government, what is concerning is the tendency of Australia’s fiscal “experts”, it would appear, to resort to anything but measures that stimulate and encourage innovation businesses and in turn the economy. Surely reducing land tax – a policy long championed by Australia’s real estate industry – would be a better option to stimulate the sector and economy.

Michael Marquette, Co-President of Marquette Turner Luxury Homes, states “Are the states tightening their belts, penalizing businesses and therefore consumers with the hope that the Federal Government will deal with the aftermath? Whatever it is, the economic credentials of those that run our States and Territories should be seriously scrutinized.”

Isn’t the relative basket case that is NSW – Australia’s most populous State – a good enough example of what not to do?

Simon Turner

FYI: Read related articles on the Economy; or the NSW State Government; or the real estate industry

In a world that can be brutal, harsh and tough going it is worth taking time to consider what we have enjoyed and what it means to us.

I thought it was an important time to consider what “Luxury” means to us all. It’s a chance to reflect over Thanksgiving and put into words what we can too often take for granted. The “Luxury is” is an amazing combination of two words – it is amazing because it causes us all to feel something, to imagine.

So what is Luxury to you? In 50 words or less write what “Luxury is” to you. We will publish as many responses as possible. Happy Thanksgiving!

Michael Marquette: Luxury is more than I can touch, it’s intangible. Luxury is an emotion, felt when I dare to dream of something that I value, that I have desired. It drives me forward, forces me to act, allows me to feel special, successful, spoiled, lucky – fortunate in every way.

Christine Watson: Luxury is the feeling of soft silk on your skin, wearing diamonds and pearls, rose petals scattered everywhere, being pampered and spoiled. Luxury is first class air travel, a personal valet, and Jimmy Choo shoes. Luxury is not having the need for anything, only the want.

Simon Turner: The ability to say sorry. The capacity to say I’m wrong. Knowledge: the desire to increase it and the timeliness of drawing upon it. Peace & Quiet. Happiness, Healthiness and Hope. Intangible.

Alex Lee: Luxury is excellence achieved.

Amy Cooper: Luxury to me involves good friends, wine and seafood in an ambient waterfront location! It also involves hot men, but let’s not go there!

Jayke Menese: Luxury is a home in Montreaux with a view of Lake Geneva. Can’t get better than that. The best setting and views in the world…”

Kevin Hussein Nguyen: Luxury is getting a full night’s rest, uninterrupted by nothing but sweet dreams.”

Thank you to everyone for sharing!

Fully managed and serviced by Four Seasons, the 15 Private Residences on Bora Bora represent one of the most exclusive and desirable resort – home opportunities in the world. Providing either lagoon or Pacific Ocean frontage, these rare and precious sites range from .5 to 1.25 acres.

You may choose from a portfolio of exquisitely appointed architectural designs ranging from 4,000 square feet/ 370 square metres to 11,500 square feet/ 1,070 square metres or create your own personal vision of paradise. Providing either lagoon or Pacific Ocean frontage of .5 to 1.25 acres, owners may choose from a portfolio of exquisitely appointed architectural designs ranging in price from $6M to $17M USD.

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FYI: For more information relating to purchasing these fantastic homes in Bora Bora, Tahiti, please contact: Michael Marquette on+61 433 170 170 or via email at michael@marquetteturner.com.au or Christine Watson on +61 414 352 680 or via email at Christine@marquetteturner.com.au

You can also see other properties to buy from Marquette Turner Luxury Homes

This week we present stories such as Luxury Home Sales in Sydney: The Truth and Fiction; The Beckham Effect, where we look at David Beckham’s very first home and what it’s on the market for as well as his current home in California with Posh Spice-wife, Victoria; we also look at the cost of parking your car in some of the most expensive cities in the world; you can customize your bathtub for a pretty penny; and our WISE GUY shows why the Australian dollar suddenly has run out of friends.

And lots, lots more.

To read the latest e-magazine: CLICK HERE

“Be a fountain, not a drain.”
Rex Hudler

Here are the auction clearance rates for Australian capital cities, for the weekend ending Nov 02, 2008.

Source: RP Data

FYI: See more articles on Auction Clearance Rates, Real Estate and The Auction Strategy

This is a question on many people’s lips and our colleague in San Fransisco, Jim Walberg, has some great points worthy of noting.

THE key to our economic recovery is real estate values and consumer confidence. Real estate is the oil that fuels our economic engine. Generally, real estate is having a similar feel that we are seeing in the stock market today. Volatility!

  • New home building starts are down to a trickle
  • Interest rates are GREAT and will get even better in the coming weeks.
  • Rentals are now commanding premium prices.

At some point, consumers will be the driving force that stabilises the real estate market, which will in turn send the message to the markets that the bottom of the market has been found.

In fact, Warren Buffet made a comment recently that when people bail out of the markets because of FEAR, he gets greedy. There are companies valued at 50% of their true value today. Warren Buffet is buying up these values with BILLIONS of dollars today.

Again, we will know the roller coaster ride of the markets is over when real estate hits the bottom and starts to the bounce back up. Pay attention to that event and you may well have timed the market perfectly to participate in some of the best values we will see for years to come.” Wise words indeed. Simon Turner

FYI: Read more articles on Real Estate, Stock Markets, Warren Buffet, and Luxury Homes

Times are difficult – sale volumes are down and the process of selling your home is taking longer than it has for years. Today we have heard that Australia may be heading toward a recession – the first in 18 years! The US Federal Reserve has cut official interest rates by 0.5%, the Japanese Government has announced a $50 Billion stimulus package, the Chinese have cut rates by 27 basis points and we in Australia have only a few days to go until our Reserve Bank announces what it will do with interest rates.

My prediction is that the Reserve Bank will cut rates by another 1% and I wouldn’t be shocked if they cut rates by an even greater amount. At this point in time the real estate market is crawling along and anything that can add confidence to the market will be welcomed. The fact is that money (for those fortunate enough to have it) must be invested somewhere. The stock market is proving volatile and difficult and as interest rates are cut on home loans, so too will be the interest rates offered on cash deposits – property starts looking better and better.

Property has been the safest investment in Australia for more than 100 years and with our currency devalued against the US dollar, Euro, British Pound and the Yen there is an enormous opportunity presenting for vendors to sell their homes to foreigners. We at Marquette Turner Luxury Homes are excited about the opportunity to attract international buyers and as members of the Who’s Who in Luxury Real Estate, are working hard to showcase Australian Luxury Homes to a worldwide audience.

The best advice for vendors – be patient (although it will be difficult), trust your agent and most importantly choose the right agency to represent your home right from the start. It’s important to have the very best representation – our worldwide recognition is something that we are very proud of.

 

                

Michael Marquette

It may not be too long until Barack Obama and his family call the White House in Washington their home. Until then, however, they’ll be making do with their property in Greenwood Avenue, Chicago, Illinois which was purchased in 2005 for $US1.65 million.

Simon Turner

FYI: More articles on Barrack Obama, the US Presidential Race, and Homes of the Rich & Famous

Overlooking Sailors Bay, this fantastically positioned, two storey home offers all the charm and beauty of Northbridge without losing any of its original character.

This property is ideal for the astute buyer who requires the peacefulness of city fringe living, yet the accessibility and convenience of being so close to the CBD of Sydney (7 kilometres away). This will appeal to those looking for a “community” appeal, and being positioned so close to all North Shore Private Schools is certainly a great asset.

More information: Learn more about this property by clicking the images above, CLICK HERE

CONTACT: Christine Watson on +61 414 352 680 or via email Christine@marquetteturner.com.auor Michael Marquette on +61 433 170 170 or via email Michael@marquetteturner.com.au

FYI: See more of our Luxury Australian Properties

A week is a long time in life – the news is good, then it’s bad, the market is up and then it’s down. Our trip around the world over the last couple of weeks has taken us to Philadelphia, New York, Los Angeles, London, Dublin and San Fransisco.  Back in Sydney it’s so clear how small the world is: everywhere the same topics are on people’s lips: the US Presidential Election and the Economy.

Fear of the unknown can often be the most stressful aspect of life, so the best way to manage such fear is to keep as informed as possible.  Hopefully our articles will help, and ultimately ensure that you’re ready to seize an opportunity when it appears.

Staying updated is the best medicine: our latest e-magazine is out now, so please click on the link 24 October 2008 or browse through our blog.

Regards,
Michael Marquette & Simon Turner



13th Annual Luxury Real Estate Fall Conference in Philadelphia, PA, USA, Oct. 11-14, 2008

Read more about the AwardsMarquette Turner Luxury Homes will be there, we’re up for an award and we’re excited!

Michael Marquette & Simon Turner

It has certainly been a huge past week with the turbulence of the world’s stock markets still being digested by many.  When George W Bush spoke of “shock and awe” in relation to the Iraq war, who’d have thought his words would so aptly apply to his handling of the American economy.

Regardless of whom is picked in November’s US Presidential election, the “mopping up” will be massive.  There will be inevitable after-shocks felt in Australia, and new Federal Opposition leader and Republican Malcolm Turnbull and L-plater New South Wales’ State Government leader Nathan Rees will certainly need to hit the ground running and work for all the interest’s of Australian’s to ensure we all remain financially in one piece – the “let them eat cake” mentality must never reach these shores.  Good luck to one and to all! Michael Marquette

This week’s real estate radar e-magazine from Marquette Turner Luxury Homes is now available to be viewed online

Features of this issue include the latest and most popular stories from our blog, including Michael Marquette’s award nomination, the View from the Bridge industry commentary, the arrival of the Qantas A380 on Sunday and many luxurious homes and home ideas in our Home Front section.

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