A new report on the home-purchasing behaviors of high-net-worth buyers in the U.S., U.K., Brazil and China reveals interesting insights into their needs and desires.
The 2014 Sotheby’s International Realty Luxury Lifestyle Report shows the preference for waterfront property exists in all four countries—42% of the more than 700 respondents described their ideal luxury properties as being on the water, with 21% preferring mountain living, 13% preferring country living, and 5% each for a farm home and a historic home.
The report also found that the majority of affluent clients intend to buy luxury properties to serve as their primary residences.
According to the report, 74% of luxury buyers in the U.S., 77% in the U.K., 91% in Brazil, and 98% in China described themselves as more likely to purchase a lifestyle property now than they were five years ago. Also, 21% said that having an eco-friendly home was important when they make their next home-buying decision.
In Orange County, these luxury properties changed hands during the last week of May:
2832 Bayshore For $11M
The estate at 2832 Bayshore Drive in Newport Beach is 9,400 square feet of living space designed by Brion Jeannette Architecture in Newport Beach.
The layout of the home takes full advantage of its waterfront location, with floor-to-ceiling walls of windows in every room oriented toward the bay. The home sold on June 3 for $11 million, under its $12.4 million asking price in September.
There are six en-suite bedrooms and eight baths in the home, which is ensconced on a rare 8,400-square-foot double lot. It has formal living and dining rooms, a main floor office with a fireplace, a main floor playroom, a gym, and a second office with a fireplace.
The grounds feature an outdoor kitchen with a Viking barbecue, an outdoor bar, fire pit, and a swimming pool overlooking the water.
Lee Ann Canaday of Re/Max Fine Homes Inc. represented the seller, and Donna Pattenaude of Berkshire Hathaway HomeServices represented the buyer.
Castle on the Bay
The four-bedroom, six-bath Tuscan-style home at 800 Via Lido Nord in Newport Beach changed owners for $9 million on May 27. The negotiated price was under its October asking price of $10.2 million.
The 6,600-square-foot John McNeely-designed Lido Island estate includes a formal office, a weight room, a craft room, an elevator, and a full security system. In addition, there is 793 square feet of patio/balcony area, 475 square feet of basement, and a 774-square-foot garage.
The home sits on an oversized, 5,400-square-foot lot and has water frontage, views of Newport Harbor, and a private dock that will accommodate a 68-foot vessel.
Marlys Vasterling of Lora Vance Realty represented the seller, and Xavier Trevino of Berkshire Hathaway HomeServices worked on behalf of the buyer.
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The Shady Canyon estate at 37 Sage Creek—with its custom hand-hewn and distressed beams, hand-distressed floors made from solid white oak, updated Crestron home automation system, $300,000 worth of solid steel, unbreakable windows, an elevator, and a 120-foot, drop-down movie screen—looks like it comes from the pages of a home-design magazine.
The sale price for the 11,625-square-foot, five-bedroom, 6 ½-bath home was $6.6 million, less than its April asking price of $7 million. The sale closed on May 27.
The canyon-view home was renovated presale to the tune of $1.5 million. Disappearing sliding glass doors allow for seamless transitions from interior to the grounds. An outdoor kitchen, multiple lounge areas, water and fire features, a stone-enhanced spa, and a saltwater swimming pool complete the outside. The home, which sits on a half-acre lot, boasts views of city lights.
Jason C. Bradshaw of First Team Estates represented the seller and buyer.
