Don King’s Home Sells

While it may not have sold for the listed $19.95 million, the Manalapan house sold for $15.9 million.  The 41,030- square-foot estate in Manalapan was home to boxing promoter Don King.

The home, which has a tennis court, two pools, courtyards and lush gardens, was only on the market for 45 days. According to Realtor Jack Elkins, it was the highest sale made this year in Manalapan.

The sale of this house is a good sign that the market is moving in a positive direction. The almost immediate closing of this home is one of the first signs that buyers both locally and internationally have the money to buy luxury homes.

As home builders we love reading stories like this. We hope the new buyers enjoy their purchase. 

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Custom Building a Luxury Home- Part 1

It is only natural that if you are spending millions on a home, you want it to be as close to your dream as possible. That’s why many potential homebuyers prefer to custom build their new home, rather than purchase an existing property. 

Despite the availability of very nice luxury homes, homebuyers typically have something they would add or change about an existing home.  It makes sense to build a dream home if you are planning to spend a substantial amount of money on a home and if you are planning to live there for a significant amount of time. 

It is not uncommon for those looking for luxury real estate to decide to build a custom home. If homebuyers are looking for a dream home the only way to get it is to partake in the design and construction.

The first steps in building a custom home are choosing the location for the home and hiring a builder. Whether you build a luxury home or buy an existing home, location is always a key factor.  Even custom-built homes may in the future become resales, think about having a location that will attract other buyers.  A great tip is a location that is private yet close to shopping and freeways, this way you get the best of both worlds. Landmark Ranch Estates is a perfect example of a community that is private and equestrian in nature, but near all urban conveniences. 

Choose the right builder; it is best to interview two or three builders before deciding on which to work with. Aside from quality of work, personality is also an important factor to consider. Not everyone gets along personality-wise, so picking a builder that you are both confident in and can work well with are absolute musts. 

In our next blog post we will be discussing the next steps to building your custom-built dream home.

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The Kitchen is the New Living Room

These days the kitchen has replaced the living room as the place for families to gather, so it is no surprise that custom designed kitchens have become so crucial. According to Johnny Grey, award-winning interior designer "you can tell a lot about a person from their kitchen." This is something that as a custom home builder I have seen exemplified time and time again.

When we design luxury homes for our clients we spend a lot of time discussing the design on the kitchen. We want to make sure that the kitchen is their own personal utopia. Of course our clients happiness is not exclusive to the kitchen and we strive to make every part of their home unique luxurious and practical.

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Luxury Home Sales on the Rise

Already this season we have witnessed multiple offers on our custom homes, so we expect that this will be a great season for luxury homes for sale. After two years of falling prices, they are finally starting to go up.

In an article published today by the Palm Beach Daily News, real estate brokers are certain that the high-end buyer has returned. Those who have put off buying a home over the last few years are starting to come out of the woodwork with an interest in buying luxury homes.

Sales are up nationwide for realtors who serve a high-end buyer and the average sales price is also increasing. The downside the available inventory. With so many builders halting construction and homeowners feeling more financial relief, there are not many new luxury homes for sale.

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Luxury Homes not Part of The Trend

While the housing market has continued to decline for the last couple of years, the luxury housing market has held its head up, despite the recession. Notwithstanding the downturn, Americas wealthiest have continued to buy luxury homes even in the declining housing market, so much that many times prices have risen.

There are several reports indicating that the wealthiest 10% of the nation’s households may account for nearly 50% of the home sales this year. In addition, other reports show that custom home builders have built high end luxury homes at a supply rate slightly below the level of demand. The scarcity of new luxury homes has caused their value to increase dramatically, even in a declining market.

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Add a Second Kitchen to your Custom Home

One of the latest trends in luxury custom homes is a second kitchen. This trend has been gaining much popularity in homes built recently. Homeowners interested in hiring a chef may opt for a high-end restaurant style kitchen while they use a much simpler kitchen for their own use. Others may simply want the benefit of a low-cost functional kitchen for home cooking, while they leave their luxury show kitchen clean. There are many ways that a second kitchen can be included in the home design to where it won’t be visible to guests.

A second kitchen might just be what your custom home design is missing.

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New Homes a Rare Commodity

Finding a new single-family home isn’t an easy feat; with builder confidence sinking to new lows it is no surprise. At the present time, single-family home construction has dropped by 4.2%. Those homebuyers who are interested in purchasing a new home must act fast to secure their property.

An increase in single-family home construction is not predicted for another two years, so currently; the existence of new inventory in the housing market is scarce.

The National Association of Home Builders reports their lowest ever confidence index at 13 percent. While the housing market prices have stabilized builders are in no hurry to build new homes, particularly in the luxury home market.

Anyone, wishing to purchase a new luxury home better act fast or wait two years before their custom home is built.

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The Siena at Landmark Ranch Estates

The grand Siena located in the exclusive Landmark Ranch Estate Community is the epitome of luxury living. This newly constructed custom home sits on more than two acres and boasts six bedrooms, seven full baths, 1 half bath, home theater, gym, den, loft, five-car garage, porte cochere, summer kitchen, and basketball court.

Everything from the chic interior to the entertainer's patio come together in a seamless collaboration that truly showcase the time and taste it took to create this custom home. Move-in ready and built to spare no expense, The Siena is a magnificent display of sophisticated elegance. Everything from the Italian imported custom cabinetry to top of the line appliances from Viking and U-line ensure that every moment in your home is a testimate to higher living.

For the those of you looking for the best of the best- look no further. The Siena.

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