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The CENTURY21 Newsletter A Special Message: I am pleased to present you w ith the latest edition of the CENTURY 21 Fine Homes & Estates new sletter! The Fine Homes & Estates new sletter is designed to give you the luxury real estate information that is important to you. In each issue, you w ill find practical tips and articles related to buying, selling and ow ning luxury properties, as w ell as the latest new s on trends in the luxury home market. I hope that you enjoy this issue of the CENTURY 21 Fine Homes & Estates new sletter. If I can be of any assistance, please do not hesitate to contact me.

Oscar Rodriguez C ENTURY 21 Americana oj@c21americana.com 527 East Rowland Street C ovina, C A 91723 Phone 626.967.4355 C ell 626.967.4355 Fax 626.214.9722 http://www.c21americana.com

Luxury Home Sales on the Rise Numbers from a recent Institute for Luxury Home Marketing (ILHM) report suggest demand for higher tier properties is on the upsw ing. According to the report, luxury homes have been spending about 16% less time on the market since early March. This is in spite of the rise in inventories that is common during the spring buying season. For all homes priced over $1 million, days on the market have fallen to an average of 118. Total inventory in the 30 markets tracked by the ILHM report reached 33,099. An average price of $1,062,379 has held steady in recent w eeks. New listings w ere virtually even w ith absorbed, or sold, properties, also suggesting demand is good. Luxury property marketers can find additional encouragement in the latest tracking study from the American Affluence Research Center (AARC). Affluent buyers – w ho account for about half of all consumer spending – report a better outlook for the economy and their personal spending plans. For example, about 10 percent of the affluent say they w ill seriously consider acquiring access to a vacation home during the next 12 months, significantly higher than six months ago.

Outdoor kitchens that even a gourmet chef would envy. Cutting-edge outdoor kitchen appliances are setting the tone for outdoor entertaining. Gone are the days w hen a cement patio and lone grill qualify as backyard dining. Today’s outdoor kitchens have become extensions of the home’s living space, w ith homeow ners desiring the same function and convenience outdoors that they enjoy indoors. W hen planning your outdoor kitchen, consider a custom design by a landscape professional, or architect to maximize space and purpose of your layout. Also, be aw are of your climate and select options that w ill extend your outdoor kitchen season. Outdoor fireplaces are popular in colder regions, as are aw nings and archw ays that protect against the elements; choices that extend the use of for your outdoor kitchen. Remember to incorporate outdoor lighting and sound for those late night dinner parties. W hen choosing appliance brands that can w ithstand Mother Nature, check out Consumer Reports ratings and review s for the latest trends and analysis. Our favorites this season are the Sub-Zero and W olf outdoor kitchen collection and Viking’s Professional and Designer Series.

Looking for a Millionaire? W hich city has the most millionaires? According to consulting firm Capgemini, w hich released its 2010 U.S. Metro W ealth Index in August, New York City topped the list of the nation’s 10 largest MSAs, w ith over 667,000 millionaires--more than Los Angeles, Chicago and W ashington D.C. combined.


Š 2011 Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Century 21Š is a registered trademark licensed to Century 21 Real Estate LLC. Each CENTURY 21 office is independently ow ned and operated. All rights reserved.

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