Real Estate Industry Update

An e-report on real estate and lifestyle presented by Scott Franklund

News and Views on Real Estate
Record low mortgage interest rates improved pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors®. The Pending Home Sales Index, a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5. -- “Pending Home Sales Up for Three Months in a Row,” The National Association of Realtors, June 2

“…Italy’s second home market is holding steady, a new report says. Sales volumes of second homes have decreased by 10 percent and supply has increased by 4.2 percent, but prices have seen little change in the last year, according the study of 20 resort markets by the Federazione Italiana Agenti Immobiliari Professionali, Italy’s estate agent association. Resort cities in Veneto, Sicily, Sardinia and Tuscany have actually seen increases…”-- “Prices in Italy Stable, Study Says,” by Kevin Brass, The New York Times, May 20

What is Luxury?
A new study published by the Luxury Institute documents the current “State of the Luxury Industry.” A sample of more than 500 high net-worth consumers found that superior quality (82%), superior craftsmanship (78%) and superior customer service (60%) are the top three requirements of a luxury brand. -- From The Luxury Institute, http://www.luxuryinstitute.com/

An Investment in Luxury
“Extravagant luxury items are being marketed as investments rather than splurges. Smythson of Bond Street produces a handbag made from goatskin, lined in silk which sells for $1,660. The company advertisement calls it ‘this season’s investment accessory of choice.’” -- From Prestige New York Wealth Update, May 13

Featured Home...
Marque Estate of Cherry Creek
478 Saint Paul Denver, CO

Impeccable style and sleek sophistication unite in this superb contemporary home sited on a spacious corner lot amidst Denver's prestigious Cherry Creek district. Located at Fifth Avenue and Saint Paul Street, this exquisite property known as "The Marquis Estate of Cherry Creek" is a stone's thrown from Cherry Creek's celebrated upscale shopping, galleries and gourmet restaurants. The home fits its exclusive address as it seamlessly merges clean, linear architecture with floor-to-ceiling glass, exotic woods, stainless steel and natural stone to create a masterpiece of habitable modern art.

Drawing upon the principles of Mid-Century Modernism, this one-of-kind residence exemplifies flawless functionality and awe-inspiring contemporary style. To view additional photos and information, please visit LegendaryHomeCollection.com.