August 16, 2005
Man-made Islands for the Ultra Wealthy
Owning a private island has long been a sign of wealth (a whole lotta wealth), but there are a limited supply of islands on the planet, and they aren't always in the most desirable areas. Enter "The World," an ambitious project to create man-made islands off the coast of Dubai in the Arabian Gulf. 250-300 islands will make up the community which is divided into 4 categories: private homes, estate homes, community islands, and dream resorts. The islands range in size from 250,000-900,000 square feet and have 50-100 meters of water separating each one. They will cover an area about 9 kilometers long and 6 kilometers wide with an oval-shaped breakwater protecting the islands. The multi-billion dollar project is expected to be complete by the end of 2005, and you can reserve your island now. The downside to living on a private island? The only way off or on is by boat, so no pizza delivery.
http://www.theworld.ae/
Related stories:
Huge Artifical Islands Destroy Dubai's Coral Reefs
Artificial Islands Arise off Dubai
Promotional Video of The World
July 04, 2005
Log Homes
Log homes are booming in popularity. In the mid-80s, only about 7,000 homes were being built annually in the US, but today the number is over 25,000. They've become a status symbol, too, with celebrities buying them. Oprah Winfrey, Tom Cruise, and Bill Gates are all log home owners.
Though touring one with its soaring ceilings, roomy great rooms, and open lofts can give you an idea why they're desirable, a recent online article from the Wall Street Journal's Real Estate Journal warns that log homes have quite a few problems.
First off, they are expensive to build (though they hold their real estate value well), costing between 25% and 50% more than traditional stick built homes. The problems are generally caused because of the way the industry works: log home kits are created and shipped to the building site where the future homeowner is responsible for finding a local contractor to put them together. Because contractors often don't have experience with log homes, there can be problems that can cost a lot in the long run.
For more information, consult As Log-Home Interest Grows, So Do Gripes. If you're still interested in buying or building a log home, there are some articles at http://www.aboutloghomes.com
May 15, 2005
So, You Want to Buy an Island
You may have thought private islands were only for the extraordinarily wealthy. Well, they're not cheap by any means, but when I was browsing through a website listing Private Islands for Sale, I found a few listed in the hundreds of thousands rather than the millions you might expect. Of course, the really nice tropical islands are pricey, but if you don't mind a more temperate climate, you might find something in Washington's Puget Sound, in one of the Great Lakes, or off the coast of another country altogether. Keep in mind, transportation is via boat or plane, so if you're looking for an easy commute, an island probably isn't for you.
May 08, 2005
International Luxury Real Estate
Coldwell Banker recently launched a site designed to help users find international luxury real estate. It is basically a search engine that gives you access to some 10,000 MLS properties in the United States and 26 other countries where Coldwell Banker keeps offices. The homes listed generally start at 1 million dollars and go up from there.
Coldwell Banker's Internal Luxury Real Estate Search
January 08, 2005
Top U.S. Real Estate Markets to Watch in 2005
Thinking of buying a new home in a place where it has a good chance to appreciate in value faster than the national average? The January 2005 edition of Unique Homes researched and listed their top 35 markets to watch for upscale homebuyers. For a full list, and details on the locations, you'll want to check out their magazine, but here are a few of the top spots they mentioned:
Oahu, Hawaii
Seattle, Washington
Portland, Oregon
Mill Creek, California
Las Vegas, Nevada
Tempe, Arizona
Austin, Texas
Nashville, Tennessee
Manchester, Massachusetts
Newport, Rhode Island
Washington, D.C.
Ashville, North Carolina
Jupiter, Florida
Saddle River, New Jersey