The perfect house – it’s in India
”
What’s the market like?
”
Everyone asks Realtors that question. Heck, we asked our
Realtors before we became Realtors! No one wants to make a mistake,
to put themselves at financial risk, to be perceived as a fool when
it comes to money matters.
The market, as always, is what a buyer will offer for a property
and a seller will accept. Right now we’re top-heavy in inventory
for the amount of buyers out there. Sellers are unhappy with the
amount of time it takes to sell.
The perfect house – it’s in India
“What’s the market like?” Everyone asks Realtors that question. Heck, we asked our Realtors before we became Realtors! No one wants to make a mistake, to put themselves at financial risk, to be perceived as a fool when it comes to money matters.
The market, as always, is what a buyer will offer for a property and a seller will accept. Right now we’re top-heavy in inventory for the amount of buyers out there. Sellers are unhappy with the amount of time it takes to sell.
So what advice is there for people looking to perform well in the current situation? Most Realtors, myself included, believe this is an excellent time to purchase a home or investment property. The days of rapidly-rising equity (now known to be largely generated by misinformation and fraud) are behind us, but the years of real estate being a sound investment are both behind and ahead of us.
Many potential buyers are worried the prices will continue to decline…that they won’t have bought their home at the mythical optimal moment when the market is at its lowest point. If you are planning on holding on to your home for, say, at least 5 years, you are very likely to make money on it. By the time you are guaranteed the market has hit its nadir and is on an upswing, everyone else will know it, too. Inventory will shrink, and you might not get exactly the home you want.
This week there are 487 properties available in San Benito and in south Santa Clara counties. This is down from its peak. There were new listings that came on in both counties, but a total of 98 properties were removed from the market. What if your dream home was one of them?
By waiting, you not only miss the opportunity to select the perfect home for your family, but you also lose the intangible benefit of living in that dream today. As you can see, there’s a whole lot of choice out there right now. Let’s take a look and see what we can find for you…Whoa, doggies! I have THE house for you. I know it’s just what you’ve always imagined. The drawback? It’s in India.
Mukesh Ambani has taken the family fortune, created by his father through Reliance Industries, and grown it to $63 billion. So what to do with all that money? Hmmm….You could be like Warren Buffet and live in your 1965 Omaha, Ne. home worth $600,000 and drive yourself around town and have no servants except a security staff or you could build your dream house like Mukesh Ambani.
Residence Antilia (named after a mythical island) is located in Mumbai. Begun in 2006, it is nearing completion. And what, you might ask, is it?
Antilia was designed by the venerable old US architectural firm Perkins and Will. It consists of 27 stories, though it soars to the height of a conventional 60-story building. The first six floors will be parking, and 168 parking places are specifically designated for the Ambani family’s personal cars. The next floor is the personal automotive service center for the family’s cars’ maintenance.
The next floor is the theater and entertainment center. Above that is the ninth floor, which is a “refuge floor.” If there is an emergency or if a rescue is necessary the family theoretically can gather there in safety and security. Above that are two floors devoted to health concerns. One has a swimming pool, and the other has a full state-of-the-art gym.
And what self-respecting extreme residence would be without guest quarters? In this case a two-story, glass façade overlooking the skyline of Mumbai. Close to the top of the structure are the four floors for the Ambani family: Mukesh, wife Neeta, their 3 kids, and Mukesh’s mother. Apparently there’s a great view of the Arabian Sea, though I’m not holding my breath to be invited there to see it.
And on the very top of the highrise are the maintenance areas, HVAC equipment and 3 helipads. Oh, and I think I forgot to mention that not all the floors take up the complete building footprint. Some have balconies with formal terraced gardens and hanging gardens.
Okay, so what will it take to keep this behemoth afloat? A staff of 600 is standing by awaiting completion of the structure. That makes me feel better. I was afraid Mukesh was going to make Neeta clean the whole thing herself.
Imagine if they ever decide to sell it. Talk about a custom residence! Taking personal preference to a new level. Mukesh is referred to as “the modern-day Howard Hughes” so I assume he likes a goodly amount of isolation.
Okay, so let’s talk about your dream home. Doesn’t seem so outrageous a dream, does it? Go ahead and call your Realtor and share your vision for the future. He or she can help you map out a plan of action to get from here to there. If you don’t have a destination, your path meanders aimlessly.
Be kind to your Realtor.
