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Malcolm Forbes’ NJ Estate Listed for $3.4 Million | Waccabuc Real Estate

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A treasured estate can be hard to give up, especially one with a special history and a family legacy.

The legendary 24-acre Forbes estate that once hosted lavish galas attended by international celebrities and dignitaries is listed for $3.4 million. The 6-bedroom, 7.5-bathroom property, dubbed “Timberfield,” was purchased in 1950 by the late publisher/owner of Forbes magazine, Malcolm S. Forbes.  Despite owning properties all over the world, he chose to raise his five children here, including current CEO and editor-in-chief of Forbes Media, Steve Forbes.

According to the Timberfield’s real estate agent, Sylvia Kissel of Turpin Realtors, the home stayed in the family after Malcolm Forbes’ passing in 1990. The estate is currently owned by one of his sons.

Located at 95 Old Dutch Pl, Bedminster, NJ 07921, the breathtaking property is a piece of history in itself. Once a farmhouse, the oldest section of the house dates back to 1760, with additions following in the 1860s, the 1920s and again in 1961, when a bomb shelter was built. The room has since been renovated into a movie theater, Kissel said.

Besides being owner/publisher of Forbes magazine and close friends with Hollywood icon Elizabeth Taylor, Malcolm Forbes was known for his collections, including motorcycles and hot air balloons. It was at this estate that Forbes housed his precious collectibles, utilizing one garage for his motorcycles and a larger garage for his ballooning equipment and vehicles.

Timberfield holds the essence of the American dream. The colonial-style architecture is presented in a pristine white exterior with dark shutters. Brick accents are visibly significant, noted in the chimneys, patio structures and pool surroundings. The only thing missing is a white picket fence, but with acreage as vast as this, it is not quite necessary.

The interior decor is classic, boasting pastel walls of pale green, lemon chiffon, ecru and vanilla with delicate floral patterns integrated throughout. The library is reminiscent of Forbes’ Scottish roots, lined with a blue/green tartan rug and rich mahogany walls. Malcolm’s father, Bertie Charles Forbes, was a Scottish immigrant and founded Forbes magazine in 1917.

“We hope to find a buyer that will be the next family to take care of it,” Kissel said, noting the property was dear to Malcolm Forbes and his family.

The estate also features a tennis court and 3 guest cottages, living up to the image of luxury and success that is often attached to the Forbes name. Ten additional acres are also available for purchase, which would bring the total cost of the estate to $4.25 million.

 

Malcolm Forbes’ NJ Estate Listed for $3.4 Million | Zillow Blog.

David Spade’s Malibu Home Sells for $10.225 Million | Waccabuc Homes

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Just because a home is celebrity owned and on a parcel nestled up against the Pacific Ocean, doesn’t mean it’s going to get a quick or profitable sale.

David Spade’s Malibu home was first listed for $16 million in 2008 — at the top of the real estate market — and after several price drops — he sold it in mid June for $10.225 million. According to property records, Spade bought the home in 2005 for $9.3 million, so luckily he is walking away with a profit.

The La Costa Beach home, like many coveted Pacific Coast Highway residences, sits right on the beach with access to a sandy shoreline and endless water views. A typical California layout seamlessly moving between indoor and outdoor spaces is evident throughout the home, with doors leading from living rooms to several patios.

Measuring 3,763 square feet, the home has 4 beds, 3.5 baths, 4 fireplaces and an outdoor pool. According to the listing, architectural details include a Shaker cylindrical staircase, vaulted ceilings, new hardwood floors and countertops.

Like most comedic actors, Spade got his start on “Saturday Night Live” before moving to films and an Emmy-nominated role on “Just Shoot Me.” He still owns a home in Beverly Hills.

 

 

David Spade’s Malibu Home Sells for $10.225 Million | Zillow Blog.

Housing market: Broward’s median price rises 23 percent | Waccabuc Real Estate

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Broward County home sellers enjoyed more pricing power in June.

The county’s median price for existing single-family homes hit $265,000, a 23 percent increase from a year ago, the Greater Fort Lauderdale Realtors said Monday.

It was the seventh consecutive month that the median jumped by more than 20 percent. Home sales rose 3 percent, to 1,356.

Broward’s median condominium price last month rose 22 percent to $105,000. But condo sales declined 9 percent from June 2012.

“At one time, buyers thought they could do what they want, when they wanted, but they’re realizing now that they don’t have the control they once did,” said Carrie Hazen, a real estate agent with Coldwell Banker in northwest Broward.

Palm Beach County and statewide figures were not released Monday because of a technical problem. Those numbers are expected Tuesday.

The median price means half the properties in Broward sold for more and half for less. The percentage increase does not reflect all home values countywide.

Sellers of single-family homes last month received 96 percent of their list prices, up from 93 percent a year earlier, the Realtor group said. The typical Broward home went under contract in 29 days, down from 37.

Ken H. Johnson, a professor at Florida International University’s Hollo School of Real Estate, said some prospective buyers are frustrated by the recent price increases and are staying out of the market. But he doesn’t recommend that strategy.

“A lot of people are upset that they missed the bottom. Yes, but big deal,” Johnson said. “Prices are still affordable. Nobody should be waiting.”

A shortage of homes for sale and an abundance of investors have helped fuel the housing recovery.

Broward had 4,225 homes on the market at the end of June, down 14 percent from a year ago. 

Large investment firms, including Blackstone Group and Waypoint Homes, are buying thousands of homes in South Florida and across the country. The firms are pushing prices higher while keeping homes out of the hands of first-time and move-up buyers.

 

Housing market: Broward’s median price rises 23 percent – South Florida Sun-Sentinel.com.

Spanish Housing Prices Continue Slide in Second Quarter | Waccabuc Real Estate

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Spanish home prices continued to weaken in the second quarter, suggesting the country is still a long way from recovering from a property market crash that forced the country to seek a bailout for its banks.

Prices declined 7.6% year-on-year and 2.4% from the first quarter, a report prepared by the Public Works ministry showed Friday. The average price per square meter was 1,481.7 euros($1,942.36), down 29.5% from the first quarter of 2008.

Spain is enduring a protracted recession that was precipitated by the collapse of a housing and credit bubble five years ago. Late last year, the country’s banks transferred billions in bad real estate loans to a government-backed “bad bank” established with the help of euro zone bailoutfunds



Read more: http://www.nasdaq.com/article/spanish-housing-prices-continue-slide-in-second-quarter-20130719-00065#ixzz2Zm18rHnJ

 

 

Spanish Housing Prices Continue Slide in Second Quarter.

Ramadan fasting isn’t for everyone, Hudson Valley Hospital Center doctor | Waccabuc Real Estate

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As Ramadan begins, Dr. Sadaf Lodhi of the Hudson Valley Hospital Center advises that the Muslim traditional of fasting for the holy month is not for everyone.

Women who are pregnant or breast-feeding, people with serious illnesses that prevent fasting and others are exempt, Lodhi said.

Here’s a release from the hospital:

Fasting not for Everyone on Ramadan

 

OBGYN says those with health concerns are exempt


 

Cortlandt Manor, NY – (July 9, 2013) – Today is the start of Ramadan, a month long holy day celebrated by Muslims worldwide. Dr. Sadaf Lodhi of the Westchester Medical Practice explains the meaning of Ramadan and some health concerns associated with the month-long fast.  

It is that time of year that millions of Muslims anticipate:  the month of Ramadan.  The month of Ramadan is the 9th month in the Islamic Lunar calendar.  It is considered the holiest of months for Muslims and is believed to be the month in which the Quran (Muslim holy book) was revealed to the Prophet Mohammed.   It moves up by approximately 11 days each year and starts with the new moon.

The end of Ramadan is marked by the holiday of Eid ul -Fitr that takes place either 29 or 30 days after the beginning of the month.  Ramadan is a month of fasting and is one of the five pillars of Islam that requires individuals to abstain from eating, drinking, smoking and sexual intercourse from dawn to sunset everyday for thirty days.  Many Muslims use this month as a means for spiritual and physical renewal.

Ramadan teaches:  self-discipline, patience and spirituality.  Muslims try to increase their acts of kindness, charity, prayers, introspection and self-reflection during this month.

Some muslims are exempt from fasting: pregnant or breastfeeding mothers (for fear that the fasting may harm the baby and his/her nutrition), people who are seriously sick(those with chronic condition that does not allow them to fast such as diabetics, the elderly, those who perform very physically tough jobs, travelers or those at health risk should not fast.  Children are required to start fasting once they begin puberty.

This year Ramadan begins on July 9 and ends with the celebration of Eid -ul-Fitr on August 8, 2013 based on the Fiqh council of North America.  To all the Muslims served by Hudson Valley Hospital Center we wish you a blessed and joyous Ramadan.

Ramadan Kareem!  Ramadan Mubarak!

 

Dr. Lodhi is a board-certified OB/GYN physician with the Westchester Medical Practice.  Dr. Lodhi performed her internship at Pontiac Osteopathic Hospital and completed her residency at St. Joseph Mercy – Oakland, in Pontiac, Michigan. She moved to New York in late 2004 and has been a practicing OB/GYN physician since 2005.  Her professional interests include infertility, adolescent health and family planning. Dr. Lodhi speaks Spanish and Urdu, and resides in Westchester County with her husband and 3 children. Call 914-736-6180 to schedule an appointment with Dr. Lodhi.

 

 

Ramadan fasting isn’t for everyone, Hudson Valley Hospital Center doctor advises – Northern Westchester.

Second quarter market trends defy suggestions of housing bubble | Waccabuc Real Estate

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The average price of a home in Canada increased between 1.2 per cent and 2.7 per cent in the second quarter of 2013, according to the Royal LePage House Price Survey and Market Survey Forecast, released today.

 

According to the survey, markets across the country continue to post gains. In the second quarter, standard two-storey homes and detached bungalows both showed a year-over-year average price increase of 2.7 per cent to $419,614 and $386,547, respectively. Average prices for standard condominiums showed a more modest increase during the same period, rising 1.2 per cent to $248,750. Royal LePage forecasts that house prices will see modest gains throughout the remainder of 2013, projecting a 3.0 per cent increase for the full year when compared to 2012.

 

Dialogue concerning the direction of Canada’s housing market has remained front and centre in recent months. Changes to Canada’s mortgage lending rules in mid-2012 coupled with concerns about consumer debt levels, housing affordability in cities like Toronto and Vancouver and continued international economic uncertainty have prompted a number of analysts to forecast large downward price adjustments.

 

“As we have stated consistently since the current market downturn began late in the second quarter of 2012, this is a normal cyclical correction which brings fewer home sales and softer prices. Those hoping their predictions of a bursting bubble and cataclysmic drops in home values will come true are out of luck again,” said Phil Soper, president and chief executive of Royal LePage. “Price appreciation in most markets across the country has been well below the long-term average for Canada and will remain so through to the end of the year. We expect to see the number of homes trading hands to begin to rise slightly on a year-over-year basis in the second half of 2013, with price softness continuing until mid-2014, at which point we’ll see an emergence from the current cycle.”

 

Recent signals from major financial institutions in the United States and Canada also point to a turn in the tide. In recent weeks, two of Canada’s largest home-loan lenders, Royal Bank of Canada and TD Bank Group, raised their mortgage rates. At the same time, the U.S. Federal Reserve recently hinted that it may start winding up monetary stimulus later this year, should economic improvements continue.

 

“With the economy on both sides of the border performing better in recent months, a move off the record-low interest rates that we’ve experienced over the past few years is likely on the horizon,” explained Soper. “Paradoxically, we expect the first increases in interest rates to be constructive for the housing market. Rising rates would be driven by a strengthening economy, reduced unemployment and improving consumer confidence. Much of the dampening effect that would come with a transition towards higher rates has already been ‘priced in’ to both consumer attitudes and financial institutions’ current lending policies.”

 

As of late, the condominium sector has moved to the forefront of discussions concerning the health of Canada’s real estate market with fears of oversupply in major centres like Toronto. Yet, condominium prices remained flat or posted year-over-year gains in nearly all Canadian cities in the second quarter, with a couple of exceptions in British Columbia. While condominium prices in Vancouver saw a 3.3 per cent decrease when compared to the same period in 2012, signs of an early recovery are evident across the Lower Mainland of British Columbia.

 

Read more here: http://www.heraldonline.com/2013/07/09/5006219/second-quarter-market-trends-defy.html#storylink=cpy

 

TORONTO, July 9, 2013: Second quarter market trends defy suggestions of housing bubble | PRNewswire | Rock Hill Herald Online.

The Golden Rule in Video Marketing: Know Thy Audience | Waccabuc Real Estate

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In many ways, most of us would strangely qualify as video marketing experts; simply because companies spend billions of dollars per year trying to determine what types of advertising entices us.  Believe it or not, analysts examine almost every aspect of our daily lives to determine how we interpret the world around us and they’re desperate to learn things like:

  • What time of day are we most likely to make an impulse decision?
  • When are people the most relaxed, hungry, frustrated or motivated?
  • How does product placement in commercials influence buying patterns?
  • Which colors most accurately display a brand’s message?
  • What aspects of video marketing lead to the highest conversion rates?

The list goes on and on, to the point where humans are studied by marketing experts more than global warming, cancer research and all professional sports combined.   In other words, knowing who your producing a video for can actually be more important than the marketing itself.  We see it every day at Next Day Flyers and it never ceases to amaze us how far some corporations go to gain even the slightest of edges within the marketplace.

SEE ALSO: The Week’s Best Viral Videos & Marketing Lessons – Brands Rule Edition

So how do you really get to know your customers?  Here are three quick tips to get you started:

1. Target your Key Demographics

Many of you may be thinking, “Why would a major life insurance brand use 1970’s Peanuts characters to try and sell a product in 2013?”  If you can figure out the answer to that question, then you’ll be one step closer to really understanding your key demographics.  It’s no accident when a commercial that makes us fall out of our chair laughing or reminds us of a great childhood memory…because it was designed specifically for us.

The entire reason for creating an advertising campaign is to give viewers that split-second “Aha!” moment where they completely connect with your brand, and you have to know your ideal consumer to achieve that.  Think about specifics:

  • What would your ideal customer eat on their birthday?
  • Where would they hang out on a Friday night?
  • How long have they been married (or dating)?
  • What’s their annual income?

The more questions that you can think to answer, the better your marketing will target your ideal client specifically.

2. Never Be Afraid of Variety

Likewise, do not be afraid to test the market with several different video marketing approaches to see which ones generate the largest buzz among consumers.  One good example of diverse advertising would be GEICO; from “A Caveman Can Do It” to the lovable gecko lizard to their biker made of money, this company has never feared making specialized marketing ads that were focused only on a small portion of their demographics.

The bigger lesson to be learned here is that it’s never too late to change a company’s image.  If a video marketing campaign doesn’t seem to be working, then it’s better to start over now than to continue to feed an unpopular approach.  Major corporations are forced to do this every day so don’t let your ego get in the way of the bigger picture.



The Golden Rule in Video Marketing: Know Thy Audience.

5 ways to exceed your ultrawealthy sellers’ expectations | Waccabuc Real Estate

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You’re about to go on a listing appointment for a multimillion-dollar property. What expectations will the sellers have and how will you meet them?

Most luxury clients expect much more from their agent than just posting pretty pictures of their property on the MLS and on various online sites where you syndicate your listings. What will it take for you to win the listing and get it sold?

1. Move from closing the prospect to creating a unique customer experience

Luxury sales were once based on controlling the prospect and expertly telling them what to do. Closing is an essential part of any sales process. Today’s luxury clients are smarter, well researched and tech savvy. They expect to control the process. Your role first and foremost is to provide them with the specific information they will need to make the best decision regarding their sale or purchase.

Going beyond this minimum level of service will require you to do much more. Find out what matters to your client, and structure her customer experience around what matters to her.

For example, many ultrawealthy clients are collectors. If your client collects vintage dolls, spend an hour reading up on this topic. Then, if you are showing this client property, ask questions that focus on how well the rooms where the collectibles will be displayed fit the client’s needs. This type of detailed focus on your client’s personal interests will make you stand out from competitors and earn you plenty of referrals as well.

– See more at: http://www.inman.com/2013/07/01/5-ways-to-exceed-your-ultrawealthy-sellers-expectations/#sthash.OtEsf0hu.dpuf

 

5 ways to exceed your ultrawealthy sellers’ expectations | Inman News.

Construction spending continues to seesaw | Waccabuc Real Estate

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Construction spending in the U.S. continues to seesaw, keeping the market recovery on a bit of a roller coaster.

After dropping in March, construction spending rose to $860.8 billion in April. This is 0.4% above the revised March estimate of $857.7 billion, according to the U.S. Census Bureau.

Furthermore, April’s spending is 4.3% above the year-ago estimate of $239.8 billion.

Spending on private construction was 1% above the revised March estimate of $595.9 billion, rising to $602 billion in April.

Residential construction spending came in at a seasonally adjusted rate of $301.9 billion in April, down 0.1% from March’s estimate of $302.2 billion.

Additionally, nonresidential construction was at a seasonally adjusted rate of $300.1 billion in April, above 2.2% from March’s estimate of $293.7 billion.

In April, the estimated seasonally adjusted annual rate of public construction spending was $258.8 billion, up 1.2% from the revised March estimate of $261.8 billion.

 

Construction spending continues to seesaw | HousingWire.

Oakland’s real estate market heats up, becomes attractive to many | Waccabuc Real Estate

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Those tracking trends say Oakland is getting hot. It may have started with Oakland’s emerging restaurant scene or perhaps it was the buzz created by those First Friday gatherings. Now Oakland is on a list of most attractive cities for tech startups.

In the shadow of Oakland’s Occupy riots and violent crime, the city has been quietly gaining accolades as the place to be.

“The attraction is the diversity of culture,” said Albert Rowe, a new Oakland resident.

The National Venture Capital Association ranks it the 11th most attractive city for tech startups like Power Hive. The solar startup is electrifying remote villages in Africa with micro-grids.

“I don’t think we would be able to be in Silicon Valley in an office space that we are in today and afford the kind of space that we have here today. So we’d probably be working out of our garages,” said Jane Oyugi, the Power Hive vice president.

Also this month, online real estate company Movoto named Oakland “The Most Exciting City in America.” Home sales are thriving and young professionals are flocking there.

“Oakland has changed a lot since the last time I was out here. Even Uptown is changed. There’s new bars and restaurants down here. It’s real nice,” said Zachary Gostlin, a new Oakland resident.

The Bond, a modern/classic condominium in Jack London Square reflects the fast selling pace of homes in Oakland. They started selling five days ago and they’ve already sold four condos.

The New York Times calls Oakland the fifth most desirable travel destination, and Forbes Magazine ranked the Uptown District ninth among the top hipster neighborhoods.

“There’s a tremendous shift going on right now in the Bay Area. Oakland is the hot market and we see a large number of people moving from the Oakland Hills and San Francisco into Downtown Oakland to take advantage of all the cultural diversity and excitement that’s going on here,” said Paul Zeger, president of the Polaris Pacific Real Estate Company.

 

 

 

Oakland’s real estate market heats up, becomes attractive to many | abc7news.com.