Homeowners across the country are worrying about the economy and are looking for efficient ways to cut costs on household expenses. Vacation rental property owners have to worry about two or more properties, not just one, and it is causing some to panic.

“While the prospect of ‘cutting back’ may seem overwhelming, you’ll find that a few small, simple, conscious changes can make a huge difference to your bottom line,” says Christine Karpinski, director of Owner Community for HomeAway.com and author of How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise your Vacation Rental Investment.

Karpinski recommends that vacation rental property owners should create a vacation home budget and once all of the expenses are written down, they can put their cost-cutting strategy into place.
Some of Karpinski’s other tips include cutting the middle man out and rent by owner, doing the updating and maintenance yourself and think about refinancing. “Refinancing may be stressful for some, but it typically well worth the effort,” says think about refinancing,

For more of tips, you can purchase a copy of Christine Karpinski’s book, How to Rent Vacation Properties by Owner, 2nd Edition: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise your Vacation Rental Investment here 

—Shari Barbanel  

Trial runs will begin in 2009 for Terrafugia’s—a Boston-area company—flying automobile.

Transition, a hybrid of an automobile and airplane, is a two-seater airplane that takes regular unleaded gasoline. The vehicle, which Terrafugia is calling a ‘roadable aircraft,’ can travel 500 miles on a single tank of gas.

No need for any special accommodations for Transition, once the roadable aircraft makes a safe landing its wings fold up, allowing a consumer to drive home and park inside a garage. Now that’s a luxury addition.

While Transition isn’t the first flying car to ever be engineered, Terrafugia’s roadable aircraft is making significant headway. In fact, the company has begun taking deposits for the $194,000 roadable aircraft. Terrafugia plans to begin deliveries of the vehicle in 2010.

Terrafugia was founded in 2006 by a group of MIT students and is dedicated to bringing innovative solutions to the challenges of personal aviation.

—Lauren Varga

Photos courtesy of Terrafugia.
 

When facing unfavorable market conditions, maintaining a unique, competitive image is crucial to expanding a viable brand within the niche market of luxury real estate.

On January 22, Donna Lee Laue, founder of Unique Global Estates, spoke with Rick Goodwin to discuss the presentation, environment, and sustainability of high-end listings and the implementation of cutting-edge trends throughout the luxury real estate market.

As publisher of Unique Homes and a partner of Unique Global Estates, Goodwin is well versed in luxury home sales and has been involved with the marketing of luxury real estate for more than 25 years. Considered by Laue as “one of the most trusted professionals in our industry and the heart of Unique Homes magazine,” Goodwin spoke to Luxury Ambassadors at Unique Global Estates on the factors and business trends surrounding current market conditions.

“The high-end is all about niche marketing. You want to promote your properties in an environment that is going to reach the people that can afford them, is going to reach the people that you want to have as your clients down the road, and in an environment that complements the property,” says Goodwin. He continues, “If you’re working with listings and sales are down, you still have to maintain a presence. You still have to keep your clients satisfied, and at the same time, you’ve got to keep yourself out there in front of the marketplace.”

In an industry constantly in a state of flux, businesses must maintain visibility, and in an era of Internet revolution, Goodwin proves his brand will stay the course. With a recent purchase of a video camera, green screen, and studio-quality equipment, Goodwin has started the process of creating promotional videos and real estate segments to reach clients while maintaining a strong online presence in the realm of luxury real estate.

“People like to look at a story rather than read a story—it’s visual…it’s a more interesting way to present properties and for agents to present themselves,” says Goodwin. “One of the reasons that pictures are so predominant on business cards is because it helps put a face and a personality to a Realtor—a video can actually do even more than that. It can really allow you to show who you are, and talk about who you are and what you’ve done, so that you really get to make your case to the consumer as to why you are someone that they should consider working with.”

Along with new video features, UniqueHomes.com offers a section called “Specialists,” dedicated to luxury agents, an updated Blog with RSS feed and links for readers to add articles of interest via del.icio.us, Digg, Facebook, and StumbleUpon—all related to social networking and bookmarking that ultimately provide an environment that reaches out to clients—and utilizes search engine optimization while working on a host of new services to promote and build brand recognition in a slow market.

Cutting-edge marketing tools and innovative practices are benchmarks of today’s luxury market, and Goodwin says, “The exciting part of a down market is that you get the opportunity to be creative.”

—Holly Marie Busacca

A private island with 124 acres of lush rain forest and towering coconut trees all lined by more than a mile of pristine beaches—Sound inviting? Welcome to the Cacao Pearl, the first non-profit luxury eco-resort community. Located in Palawan, South East Asia, the Cacao Pearl will present a unique opportunity to enjoy a stunning eco preservation locale. 

Designed by former film director Antonio Calvo, the low-density boutique resort concept will offer sustainable development and enjoyment.  Even more attractive about this unique island resort is 100% of the resort’s net operating profits will be used to support local environmental and social programs.

The very best for a luxury lifestyle—Five-star service, designer homes with zero carbon cost, infinity pools, a secluded destination spa, private media rooms—coupled with an eco-friendly approach to the area’s natural surroundings is certain to delight the most discerning guest.

For more information on this island paradise, visit www.CacaoResorts.com and www.BarefootSophistication.com.

—Robert Burke

Forget bare-bones research vessels with closet-sized rooms. It’s now possible to conquer Antarctica, or several other remote locales, in high-end comfort and style, from your own private luxury suite on one of Adventure Life’s "Luxury Expedition Ships." Unfortunately, that unstylish puffy parka is still necessary.

Based in Missoula, Montana, Adventure Life specializes in trips throughout South and Central America, and Adventure Life Voyages specializes in Expedition Cruises around the world, including to the world’s last unspoiled continent. Ranging in guest capacity from 100 to 198, Luxury Expedition Ships “allow travelers the opportunity to take advantage of the adventurous land excursions and up-close wildlife viewing that is best experienced on a small expedition ship without sacrificing the creature comforts traditionally found on much larger cruise ships,” according to the company’s Web site. Popular ship amenities include gyms, sun decks with Jacuzzis, private marble baths, fine-dining restaurants serviced by European chefs and five-star salons and spas. Antarctic cruises on a Luxury Expedition Ship range from $7,595 to $34,270, depending on your chosen ship, type of accommodations and the length of your excursion.

Adventure Life and Adventure Life Voyages invite adventurers to interact on their Web sites, www.Adventure-Life.com and www.ALVoyages.com. Travelers can upload and share journal entries, maps and pictures in personal travel journals, set up a gift registry that allows friends and family to contribute to a purchased trip and set up a private account to plan and book tours.

– Sarah Binder

Designer HomeTending, a temporary and free occupant service for owners of vacant homes, has recently opened its Los Angeles office.

With additional offices In Las Vegas, Boise, Salt Lake City and Denver, Designer HomeTending provides experienced and pre-qualified temporary live-in managers to care for homes while on the market. The service is at no cost to the homeowner, real estate agent or builder and home tenders can live in mansions for a fraction of the cost. “Our concept has been proven in the markets that are realizing the effects of the economic and housing downturn,” says Cathy Cardenas, Designer HomeTending founder and CEO.

The live-in home tenders maintain the home and grounds and makes the home more   visually appealing to prospective buyers, safer for the neighborhoods and insurable. According to Designer HomeTending, homes sell 40 to 60 percent faster if professionally staged and cared for by subcontracted home tenders.

“Instead of showing a vacant, undecorated home, our home tenders create a model home look and feel, providing prospective buyers with the ability to visualize the home’s potential,” says Cardenas. And our home tenders are often assisted by a professional home stager to create the perfect selling environment.”

—Shari Barbanel

The Westport Historical Society in Westport Conn., will present Presidents, Politicians and Popular Heroes—an exhibit dedicated to American history—from January 25 until May 3, 2009.

The exhibit—subtitled American History in Wood - A Century of Change—is a compilation of more than 100 folk art wood carvings collected by Westporters Bob and Anne Levine. The Levine’s entire collection holds more than 800 pieces of painted and unpainted wood dating from the late 1700s.

“Our collection of wood carvings of American historical figures, events and icons developed out of interest in American Folk Art, particularly pieces made of wood,” said the Levines.

The Levine family has been compiling its collection since 1988. “Learning about these objects from various sources, we gradually accumulated many pieces of historical note and artistic merit,” explains the Levines.

Some carvings on display include moments in American history such as World Wars I and II; prominent figures such as Alexander Graham Bell, Thomas Edison, James Dean and Mark Twain; and a wooden model of The Red Baron. American History in Wood - A Century of Change is also proud to display a wood bust of President Barack Obama.

The exhibit is located in the Betty and Ralph Sheffer Gallery of the Westport Historical Society and will be open Monday-Friday from 10 a.m. to 4 p.m. and Saturdays from noon to 4 p.m.

Meet the sponsors of Presidents, Politicians and Popular Heroes—including Hoffman International Properties, Inc.—at the opening on Sunday, January 25. Mary Kay Daughters of Hoffman International Properties, Inc., provided Unique Homes magazine with information on the upcoming event.

The Westport Historical Society is dedicated to presenting, preserving and celebrating the history of Westport. Its underlying theme is “Keeping Westport History Alive.” For more information about the Westport Historical Society and its yearly exhibits, please contact Executive Director Susan Gold at 203-222-1424.

—Lauren Varga

Top image courtesy Larry Untermeyer. Bottom image courtesy Mary Kay Daughters—a sponsor of Presidents, Politicians and Popular Heroes.

Ranging from urban and edgy to classic and clean, Brooklyn-based Kamp Studios offers clientele hand-painted, site-specific murals and finishes to complement any home or office space.

After moving to New York by way of Florida, Ken Miller and Kim Collins were introduced by a mutual friend and began a unique business in the Big Apple. When describing the union of Kamp, Collins says, “It was rough at first—it’s New York City after all. We came here to live the dream and sure enough the work kept coming in and before we knew it we were landing some really extraordinary projects. We have a great time working together and somehow from the beginning always had an unspoken understanding of each other’s strengths. We came to New York to set up ‘kamp’… and we have done just that! ”

With inspiration ranging from fabric samples and images to a client’s individual style, Kamp uses digital renderings to fashion a design, ultimately hand-painting the motif to ensure precise placement and bespoke appeal.

The duo boasts more than 20 years experience in scenic and decorative arts, and when coupled with their love for innovative finishes and dramatic designs, the Brooklyn-based firm is sure to make a lasting impression—and not just with the pleasing patterns you’ll see—but the exceptional detail to every mural and personalized service to each client.

Contact Ken and Kim at Kamp Studios at www.KampStudios.com or at 917.443.2250.

—Holly Marie Busacca

Photos courtesy Kamp Studios.
 

Depending on how you look at it, entrepreneurs are either hindered greatly by the current financial climate, or they are best positioned to weather these uncertain times. Either way, bold self-promotion these days can’t hurt, and real estate daredevil Frank McKinney continues his unique career with the February 13th co-unveiling of Acqua Liana, his $29 million green mansion in Manalapan, Fla. and his three new books: Burst This! Frank McKinney’s Bubble-Proof Real Estate Strategies; The Tap; and Dead Fred, Flying Lunchboxes, and the Good Luck Circle.

Guests to the soiree, who are asked to dress in Valentine’s Day or Friday the 13th-inspired costumes, will enjoy “Friday the 13th Manalapan Mojitos” while awaiting the traditionally dramatic arrival of McKinney and the debut of his island-inspired estate, which will be hidden beneath a massive curtain.

The first home of its size to be certified green by the U.S. Green Building Council and the Florida Green Building Council, Acqua Liana lies on 1.6 acres and encompasses three stories and 15,000 square feet. The seven-bedroom, 11-bath residence is accompanied by meandering water gardens, floating sun terraces, a waterfall spa with a fire feature in the water and a guesthouse partially submerged in a lagoon. A 2,180-square-foot oceanfront master suite, fitness studio, oceanfront glass office, two glass elevators and a glass wine cellar are just a few features of the green masterpiece.

Proceeds from sales of the books will benefit McKinney’s Caring House Project Foundation, which creates a self-sustaining existence for underprivileged families across the globe.

For more information on the event, the three books, Acqua Liana or McKinney’s real estate philosophies, visit www.Frank-McKinney.com

– Sarah Binder

Today’s face-paced world demands clear communication in every aspect of business. One company continues to put a unique spin on mobile phone communication for the luxury consumer. Vertu is a distinguished leader in luxury handsets and combines the finest materials with the highest level of craftsmanship.

The latest offering, Signature, embodies the core attributes of Vertu’s previous phones, including world class handmade craftsmanship using precious metals and ruby bearings, and the revered concierge service accessed through a dedicated button. Signature’s ringtones are impressive having been composed by Dario Marinelli and performed by the London Symphony Orchestra.

Owners will enjoy the latest technology available including high-resolution dynamic display with sapphire crystal, detailed key switches with jeweled bearings, multi-media messaging and e-mail, web browser access, Bluetooth technology, PC and Mac synchronization and more.

What does such a unique product cost? Pricing varies by model but may run as high as $20,000.

Check out the web site for more information one this amazing mobile phone: www.vertu.com.

—Robert Burke