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Delray IS The #1 Choice For HNW Savvy Buyers...

October 21, 2020

As a Marketing guru, CEO and The CEO Futurist, I was always asked about my "Top 5" on-stage, by the press and my c-level friends/clients. So now I am pleased to do the same at Sotheby's in ultra-luxury real estate. Here is the first of my Top 5 Gem Areas in South Florida!                                     

My #1 Gem Area: The East Delray, ZIp Code 33483, from Seagate to Gulf Stream, east of the Intracoastal. This is the #1 area on demand and purchase price. Higher Net Worth buyers from NYC Metro, select NE USA areas and even Chicago, Silicon Valley, etc. Why? Top 10 beaches (no condo towers at all on the beach), Atlantic Avenue with its restaurants, shops, galleries, music venues, etc. and the intracoastal lifestyle! No other place in South Florida has it.

And Seagate is a coveted little neighborhood where you an bike with your kids, walk your dog, feel comfortable. The point lot above reflects the majestic waterfront options. And Gulf Stream is the private, tucked away enclave for CEO's and billionaire's who do not want the hustle and bustle of Palm Beach or Miami. I just wished I had more inventory here (down 30% with bidding activity starting). Come visit East Delray (www.416Venetian.com) and Gulf Stream (www.4001Nocean106.com).


Amazing Leadership & Culture At One Sotheby's...Delivers For My Clients!

October 21, 2020

As a Brand guru, I really celebrate the Sotheby's  and Sotheby's International Realty Brands! Stellar, strong and an edge, up there with the best! (I ran Brand Coca-Cola at the Atlanta based headquarters for the world, so I know). But something unbelievable happenned two years ago!! 

ONE Sotheby's and their CEO Mayi De La Vega and her son Daniel acquired our affilate and i became part of ONE! This has been inspiring being part of their team, with an excellence and culture that rivals the company I founded (with partner Robin Austin) Fusion 5. I wake up every day excited by the what is emerging for/with me and us!! I call it "Leading As ONE".

Insight: not all realtors and realty firms are equal! Set your bar highe and seek excellnce! (Start with One!)


Inspiring Oceanfront Estate...

October 21, 2020

Waterfront properties inspire me...from my first home on Fairfield Beach, then Fisher Island, onto building on Palm Island. 

So I see select properties and they continue to inspire me...


5 Star Now: Baby Boomers & GENX Pivot To South Florida!

March 03, 2018

2017 Macro Insights & Dynamics For Boomers/ Millennials & Real Estate

Ready To Pivot? As a long time marketing/insight guru focused on driving growth/value, I am sharing what i call Patrick 5’s Snapshot. In this case it is one is around macro factors and real estate (I am now part of  “uber-luxe” Sotheby’s International Realty).1. Lifestyle Pivoting: Boomers and their offspring millennials have been transitioning into new lifestyles. The seniors are shifting from the empty nest “McMansions" and other homes and investing for their next play (for pre/retirement). The "Millenns" are embracing marriage and starting family planning including new residence formats. You see a lot of home inventory in the northeast and midwest (buyer’s market). South Florida is up-ticking, along with parts of the gulf coast (i.e.. Naples), and the Georgia/Carolinas coastal areas, as examples. Select in-city and smart suburban rentals/home purchase options are also up as echo-boom demands increases.

2. Accelerants To The Pivot: As the Dow approaches 21,000, you can feel inclination to shift increasing (2016 Dow finished up 13.5% and gained 8 pts of it in the last 40 days of the year; Forbes 1/14/2014). Overall sentiment is cautiously up (despite politics). Add tax cuts and increased jobs at even a modest level and this lifestyle movement will accelerate. 

3. Money Flow Urgency: 75% of homes are purchased with mortgages and the Fed has raised its linked cap rate (.25 basis pos mid-Dec. 2016)…pushing home financing rates up. Boomer parents liquidity through home sale will assist all family members in shifting their lifestyles in 2017 and 2018, thru locked in rate searches, down payment assistance and co-signing. 

4. The Uber-Luxe Pivot: Water front/water view homes in South Florida are showing increased demand with an added element…no income tax in the Sunshine State. I am amazed by the amount of conversation and resulting action by the higher/high income families about shifting primary residences to South Florida to leave New York/Connecticut/NJ and Northeast aggressive income and real estate tax rates (including the excessive “mansion tax). Then add Manhattan and high end home prices in the A+ areas and you see the basis for the shift at the high end. For example, "Patrick, I can buy multiple, spectacular waterfront estates in South Florida for the price of a manhattan coop, plus I get no income tax in the Sunshine State!”

As the pivot occurs, there is one resulted added incentive entering 2017: Per the WSJ today, "As some parts of the luxury housing market softens, home sellers across the nation are offering discounts on upscale dwellings”.

5. Implication: Be smart, do a periodic pulse check on you and your family's position. I suggest (& assist) friends do a pin drop, snap shot look at their current home/community. MLS lets you do this and see the supply/demand/value in your area (the Polygon or iPad finger draw tools also bring it all up quickly). Then take a look at your pivot direction (Fl, Carolinas, AZ, CO, etc.) now or for a year of two down the line. It becomes a simple equation!

(see above friend’s beautiful Delray Beach waterfront home just listed)

 

Sources: Pulsenomics 2/27/2017; Forbes 1/17/2017; WSJ 2/28/2017


5 Star Concours @ Mar-a-Lago

March 03, 2018

5 Star & Sotheby's...Luxury Curators For The World!

March 03, 2018
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