Kris Zacuto

Photo Credit: Courtesy of Kris Zacuto

Among his highlights, Zacuto has set and still holds records for single-family homes in Playa Vista for sales price and price per square foot; condo sales price and price per square foot; and, he is the listing agent in Playa Vista to sell a home over $4 million. He has sold nine homes over $4 million.

Zacuto’s service-driven approach and expertise in the Los Angeles area have earned him the respect of both clients and colleagues while establishing a presence in the Silicon Beach Real Estate Market.

More on Kris Zacuto

In 2017, Kris partnered with Brookfield Residential by exclusively presenting Playa Vista’s most luxurious single-family home neighborhood - Jewel Playa Vista. As the exclusive listing agent for the luxury neighborhood, this landmark partnership was the first of its kind between a leading luxury brokerage and a major community builder in Silicon Beach. Exclusively presenting and selling all 14 new construction residences was an unprecedented accomplishment for the area, and he set numerous Playa Vista sales records in the process.

Kris’ professional background includes over 10 years of experience in Luxury Estate Management, and a wide array of properties in locations such as Aspen, Hawaii, Palm Springs, Los Angeles, and New York City.

Haute Residence congratulates Kris Zacuto on his great achievement and looks forward to continuing its partnership with him.

For more information, please contact Kris Zacuto at 310.702.6299 or kris@kriszacuto.com

Kris Zacuto is the exclusive agent representing the Silicon Beach, CA real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.

The post Silicon Beach Real Estate Expert Kris Zacuto Joins Compass appeared first on Haute Residence by Haute Living.

Kris Zacuto presents

Fully upgraded beautiful top floor designer unit @ Skylar in Playa Vista with only 3 residences per building. This open concept single level 3 bed 3 bath condo is situated within a private courtyard and boasts high ceilings and tons of natural light with its top floor location. This luxury condo is a rare find, fully equipped with over $25K in A/V equipment, including a Crestron system. The floor plan includes an expansive living room flowing onto an oversized patio with floor to ceiling accordion doors ideal for indoor/outdoor living. The entertainer's kitchen features stainless steel appliances, custom cabinets, and beautiful countertops, while the master suite boasts a spa-like bathroom with separate shower & tub, walk in closet.

Address: 12465 Osprey Ln #3, Playa Vista, CA 90094

Price: $1,899,000

For more information, please contact Kris Zacuto at 310.702.6299 or kris@kriszacuto.com

Kris Zacuto is the exclusive agent representing the Silicon Beach, CA real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.

Photo Credit: Jack Bremen

Photo Credit: Jack Bremen

Photo Credit: Jack Bremen

Photo Credit: Jack Bremen

The post An Upgraded Condo In Playa Vista By Kris Zacuto appeared first on Haute Residence by Haute Living.

Olivia Hsu Decker presents

8 bedrooms, 12 baths, appx. 10,309 sq ft. main house, 1,800 sq ft guests house, pool, tennis court, spa, ridge top estate with 300 degrees panoramic views.  With over 52 expansive acres, Aztec Estate is a home of incredible scale and unrivaled opportunity, in one of the most exceptional settings in Northern California.

Towering above Silicon Valley, atop the Los Gatos hills, Aztec Estate offers breathtaking panoramic views spanning the entire San Francisco Bay Area. Secluded in a private enclave at the end of a gated drive, the residence features soaring ceiling heights, a modern, open floor plan, sweeping entertainer’s decks and sliding walls of glass that bring phenomenal views to the forefront of the living experience.

The main residence features superior quality and amenities throughout its 6 luxurious view suites, 6 full baths and 2 half baths spanning approximately 10,309 sq. ft. of extraordinary living space, linear designs, and prominent shapes of a building design.  Engineering and utilitarian elements play into the timeless design of George Foy with materials like glass, stone, and steel used liberally in construction to showcase the nature beauty of this estate.  In addition, the estate includes a 2-bedroom, 2 full bath guest house, with approximately 1,800 sq. ft. Both residences feature the finest selection of materials and finishes, exquisite interior design and exterior landscape.

Behind double glass doors, a light-infused, two-story atrium studded with trees leads to a series of intimate and grand-scale living and dining spaces. Soaring ceilings enhance the home’s incredible scale, while floor-to-ceiling window walls flood the spaces in natural light, immersing guests in the breathtaking views beyond. The gourmet chef’s kitchen, with large center island and top-of-the-line appliances, features over-sized custom glass windows.

Secluded in its own private wing, the monumental master suite is flanked by walls of glass, enveloping the space in sweeping vistas. An opulent marble bathroom boasts amazing ceiling heights and custom walk-in closets. With an office space, oversized fireplace and sitting area, sliding doors lead to a sprawling outdoor lounge overlooking the pool below and sunset horizon.

The gated estate offers privacy, steel frame construction, wine cellar, billiards room with wet bar, 2 custom offices, and state of the art technology. The estate’s resort-like grounds are as impressive as the residences. Aztec Estate offers the versatility to retreat in serenity or entertain elaborate and lavish events on the estate grounds which features an infinity pool, steam room and spa, tennis and basketball court, outdoor fire pit, manicured gardens, various terraces and seating areas, fountains, waterfall, and wrap around decks with endless views.

As seen on HGTV's Extreme Homes, Forbes magazine, and DuPont Registry, this stunning private estate with close and easy access to the heart of energetically charged Silicon Valley provides a natural buffer from the bustling lights below while sharing the neighborhood with several of Silicon Valley’s elite.

A unique combination of privacy, exclusivity, peacefulness, views, and luxury all in this one-of-a kind modern masterpiece.

Photo Credit: Jason Wells

Photo Credit: Jason Wells

Photo Credit: Jason Wells

Photo Credit: Jason Wells

Photo Credit: Jason Wells

Photo Credit: Jason Wells

The post An Exceptional Estate In San Francisco By Olivia Hsu Decker appeared first on Haute Residence by Haute Living.

The webinar was hosted by Haute Living's Erik Haase.

Highlight quotes:

Angela Lutzi Dellatorè: "Naples, Fort Myers and Bonita Springs, it's very busy here... People want to spread out, they want space, and we provide that... In this kind of market, it's important how to use technology to sell properties... ... It's a great rental market on top of everything else... We have seen a huge increase [in demand]. January through April is busy no matter what's going on elsewhere, but we saw an increase in 2020 right off the bat. Once COVID-19 hit, we thought nothing would happen, and in fact, the opposite occurred; the traffic increased... People are looking to spread out to have a space where they can easily go outside during the winter months."

Leslie S. Modell: "Since mid-June, the amount of traffic from the buyers has definitely picked up. I wouldn't say it's an avalanche, but I would say it's a nice pickup from what we have been experiencing since the middle of March... The waiting game is not going to work in New York. Better to get out now and get something sold before the Fall... As a New Yorker and anyone else around the country, this is a great time to buy. I have not since prices or rates this low in a long time. To anyone around the country that is thinking about buying a home in New York: this is the time to buy. The numbers are ticking up again. The Hamptons homes are selling at top dollar."

Kelly Ringer-Radetich: "We are busy here in the peninsula, which is South San Francisco, on down south towards Stanford, all the way through down to Palo Alto, and then Silicon Valley and San Jose. We are seeing multiple offers; people want to get into a single-family residence, something that has more privacy with a yard and space... Younger couples and professionals come in, wanting to start out and get their foot in the door owning property along the marina here... Here along the peninsula, we have a great job market. It's what allows people to be able to come here and afford this area."

Darlene Streit: "It is as busy as I've ever seen real estate in Santa Fe. The closings at Sotheby's last month were equal to 2006-2007 numbers. We have not seen these numbers since then. The overall MLS numbers are about on par with last year. The fact that Sotheby's is ahead in the high-end [market] shows that there are a lot of high-end buyers coming... We are seeing more and more buyers over $3 and $4 million, and we would have many more sales if we had houses to sell them because we have a lot of people just waiting to find a house. It's a very, very tight inventory because everything is selling. It's very busy and people are just coming in from everywhere."

Shelton Wilder: "I'm seeing people coming here from New York, Chicago, and San Francisco. The people here are going to Santa Barbara, Arizona, Florida, Texas and Charleston... Home sales have skyrocketed. People are wanting to leave condos going to single-family [homes]... Some properties are going $400,00 to $500,000 over asking price. Anything under $3 million is going. All of our listings sell in less than 30 days, sometimes just a few days... Rates are low, dropped below 3% now for 30-year fixed. And then there's still really low inventory on in Los Angeles... Home has never been more important. It's a huge privilege to help clients with where they're going to live and building their wealth."

To watch more real estate webinars, visit dev.hauteresidence.com.

Top: Angela Lutzi Dellatorè, Darlene Streit, Kelly Ringer-Radetich. Bottom: Leslie S. Modell, Shelton Wilder: "

The post Watch: The Latest “Coast To Coast” Real Estate Webinar By Haute Residence appeared first on Haute Residence by Haute Living.

The Valley

In the heart of the Santa Ynez Valley, Rancho la Zaca and Oak Savanna Vineyard nestle amid a landscape of rolling hills, ranches, and vineyards, with swaths of poppy-studded pasture and lupine covered meadow. Carved from a royal Spanish land grant and embodying a mythic old California lifestyle, this remarkable estate stands against a backdrop of stately mountains, and azure skies, yet is but 40 minutes’ drive from Santa Barbara, two hours from Los Angeles, and four hours from San Francisco.

With its open vistas, coastal influences, and excellent land values, it is no wonder the Santa Ynez Valley is rapidly being discovered by savvy investors, Silicon Valley denizens, and the Hollywood celebrity set alike. Local schools are among the best in the state, and the county’s Cottage Hospital Network is among the nation’s finest. The area is known of course for its winemaking, but also for its love of horses, offering superb veterinary care and top training facilities in all equestrian disciplines. Hiking, cycling, golf, tennis, farmers’ markets, fine dining, and an active arts community complete an already brimming and beautiful picture.

The Ranch

Unparalleled in the Santa Ynez Valley, the 400+/- acre Rancho la Zaca is enviously located along the storied Foxen Canyon wine trail.

The main residence is a stunning 8,000+/- square-foot, five-bedroom contemporary masterpiece designed by renowned American architect Hugh Newell Jacobsen and built for the late actor James Garner and his wife. Since acquiring the ranch in 2000, the current owners have enhanced the property considerably with a world-class sporting clay and shooting range; a well-stocked and picturesquely landscaped pond with dock; a romantic grove of mature olive trees; and a modern six-stall horse barn and regulation-sized rodeo arena, complete with cattle shoots and spectator stands. A lovely old picnic area is shaded by massive oaks and lit at night with hundreds of twinkling lights. And finally, miles of hiking and riding trails wind their ways around this sybaritic sportsman’s and nature-lover’s paradise.

The Houses

The main house stands at the end of a long and gracefully curving drive, where a gravel motor court welcomes visitors and provides ample parking. An arbored walkway bordered by juniper topiaries leads to a capacious entry flanked by exterior gardens. From there a glass-walled passage opens to a dramatic, light-filled great room with soaring 25-foot ceilings and fireplaces at left and right. Inspired by the wooden cobblestoned streets of Old Havana, the current owners installed a wooden tile floor, and added wooden mantelpieces atop the rustic limestone hearth surrounds. Living and dining spaces in the room accommodate cozy evenings for two as well as festive gatherings for 20 or more.

From the great room, handsome glass doors lead to a heated, covered patio overlooking an infinity-edge pool and endless views of the vineyards and mountains beyond. A large surrounding porch offers several al fresco seating and dining areas, a firepit, and a pool house with full bath, two separate showers, and changing room.

The master suite occupies the east wing of the house and comprises large separate baths, closets, and dressing areas. An intimate but spacious separate sitting room looks onto a fenced garden on one side, and on the other a private deck bordering the olive grove. Upstairs, via separate staircases, are an office with panoramic views and a bedroom with ensuite bath that can also serve as an office.

Three additional upper-level bedrooms have ensuite baths, built-in cabinets and closets, and are each accessed by separate staircases to afford the utmost privacy. This construction is a famous signature of Architect Jacobsen.

The large kitchen is fully equipped with the highest commercial grade appliances and copious storage for supplies and tableware. The thoughtful, professionally designed set-up is suitable for the most demanding caterer or the most relaxed home cook. An ample butler’s pantry contains a large wine cooler, wet bar, and breakfast nook with stylish banquette seating, the perfect sunny spot to watch the evening news or visit with family and friends over morning coffee.

A service hall from the kitchen contains more cabinetry, an additional sink and dishwasher, and leads to a large laundry room. Rounding out the main level is an office with built-in desk, shelves, and filing drawers, and a separate room for supplies, printer, shredder, and other office equipment.

A lower level contains a temperature-controlled wine cellar, mirrored gym and workout room, and a large storage room.

Two garages house two cars each, plus additional storage areas, and an attached outbuilding holds sporting equipment, bicycles, and waste receptacles.

Elsewhere on the property is a large utility barn, a 4-bedroom Ranch Manager’s house and a 3-bedroom Vineyard Manager’s house.

The Vineyard

Planted in the 1970s, the Oak Savanna Vineyard is one of the oldest in Santa Barbara County. Originally planted in all Chardonnay, varietals have since been expanded to include Syrah, Sangiovese, and Tempranillo. For decades, winemakers near and far have proudly and consistently produced exemplary wines from the superior fruit of Oak Savanna. And while all vineyards are arguably beautiful, the Oak Savanna is uniquely so, distinguished by its ochre-colored limestone end posts. The handsome, rough-hewn posts were carted in from Kansas, where a lack of wood for fencing gave rise to this quarried variety, now ingeniously deployed at Oak Savanna.

The Foxen Canyon Story

An integral part of the legendary Santa Barbara County wine country, the Foxen Canyon Road is home to more than two dozen vineyards and wineries, producing some of our area’s most coveted fruit and finest wines. Winding its way through vineyards, oak studded hills, and lofty mesas with open vistas and see-forever views, the road has long been a favorite with cyclists and Sunday drivers alike. An area of astonishing topographic diversity, pine-topped distant mountains tower over gently rolling pasture land where cattle and horses graze. In spring the hills turn bright yellow with wild mustard, vibrant orange with poppies, and silvery blue with lupine. In summer when the hills turn golden, the verdant foliage of the vineyards punctuates the landscape and heralds the bounty of the harvest to come. Foxen Canyon is itself the quintessential California landscape, truly a special place.

History of the Zaca Spanish Land Grant

Awarded by the Spanish Crown in 1838, the original Zaca land grant is believed to be the first in the Santa Ynez Valley. The grant was small by comparison, at about 4,400 acres, taking its name perhaps from an Aztec word that roughly translates as “peaceful place.” But no one knows for sure, alas. Around the turn of the 19th century, the land was bisected along the boundary formed by the old stage coach route, then referred to in Spanish as the camino. The camino later became Foxen Canyon, named for a distinguished local military officer whose family resides there to this day. In the 1970s, the property was again divided, this time into four parcels, one of which became the 400-acre Rancho la Zaca. The actor James Garner purchased the property in the 1990s and commissioned visionary American architect Hugh Newell Jacobsen to design the current residence, a bold contemporary statement that is as respectful of the surrounding landscape as it is welcoming to all who enter it.

Address: 6903 Foxen Canyon Road, Los Olivos, CA 93454

Price: $16,500,000

For more information please contact Carey Kendall at (805) 688-1620 or carey@clkre.com

Carey Kendall is the exclusive agent representing the Santa Ynez Valley, CA real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.

Photo Credit: Village Properties

Photo Credit: Village Properties

Photo Credit: Village Properties

Photo Credit: Village Properties

The post An Unparalleled 400-Acre Santa Ynez Valley Ranch And Vineyard By Carey Kendall appeared first on Haute Residence by Haute Living.

Albany

Culturally and climatically, Albany and Silicon Valley couldn’t be further apart but all the indicators allude to the fact that big things loom for NY’s state capital. Firstly, as CNBC noted the city’s number of tech jobs grew 161 percent between 2016 and 2017. Like the city itself, the start-ups weren’t sexy. They didn’t bask in pop-culture credibility, but rather in the nuts-and-bolts health and education sectors. The area is surrounded by as many universities as it has snowfall during the winter. It also benefits from New York’s sizable $1.4 trillion GDP and well touted tax breaks for new businesses. And what’s more, what you would pay for a garden shed in Silicon Valley could buy a mansion near Albany.

Atlanta

3509 Tanners Mill Circle, Gainesville, GA 30507 is listed for $16,500,000 by Haute Residence partner Debra Johnston

It’s one of Amazon’s top 20 HQ candidates and last year Forbes described it as one of the top five “US cities poised to become tomorrow’s tech meccas.” It’s got the population (close to half a million), the climate and is fairly cheap to live in. Throw in universities, an international airport and all the other franchises, businesses amenities (sports, commerce, CNN is based there) and Atlanta is a great place to live and work.

For more information on Atlanta's real estate market, contact Haute Residence partenr Debra Johnston.

Pittsburgh

Since the steel industry's collapse in the ’70s and the population exodus in the ensuing years, Pittsburgh has been the poster child for renewal through technology. A big draw has been Carnegie Mellon’s highly respected computer science program leading to Google basing a campus there which has since been significantly expanded. According to CBRE's annual Tech-30 Report, the city's technology talent pool expanded by 31.4 percent from 2015 to 2016, placing it third overall behind San Francisco and Charlotte. Housing is very affordable — the median price is $135,465 — and it has well-established medical, banking and sports franchises and room for a rapid population increase, which would happen if Amazon decides to base its HQ there as many in Pittsburgh’s real estate industry hope it will.

Cleveland

Like nearby Pittsburgh, Cleveland has re-invented itself from its blue-collar roots to a progressive tech hub.  The highly regarded Cleveland Clinic is a center of innovation for the area. The city’s Health-Tech Corridor Director, Jeff Epstein told Forbes why he thinks tech companies should be based there:

"Cleveland is a prime location for innovative health-tech and high-tech companies. The heart of Cleveland is a leading biomedical, health-care and technology region. It offers easy access to clinicians, researchers and state-of-the-art lab infrastructure inside world-class institutions. The cost of living is 30 percent to 60 percent lower than that of Boston, Silicon Valley, and NYC.”

Detroit

If you haven’t heard, once much maligned Detroit is enjoying the kind of revival that would put many of its Baptist churches to shame. But this is real estate not the Holy Ghost. Old buildings are catching the renovation spirit and going from grit to glitz. And business appears to be booming along with construction. The New York Times reported that only 7 percent of office space is vacant today compared to 30 percent a decade ago. And, at the tail-end of 2007 Ford Motors announced it would use downtown Detroit to base its self-driving and electric car development. 

Like other Mid-West cities, Detroit’s phoenix has risen thanks to the tech sector with the field growing by 55 percent or more between 2011 and 2016, according to CBRE. And despite the construction boom, housing is still incredibly cheap.

Kansas City

Kansas City is already being dubbed “Silicon Prairie.” ZipRecruiter analyzed that network engineering and web development jobs in the area increased by 157 percent year-over-year in 2016. The median pay for mid-career tech jobs is around $90,000 a year. Pretty good considering the median house price is $189,000 and the median rent $900/month. Twenty percent of the city’s population are well educated with tech workers making up 5 percent according to a 2017 report by the Ewing Marion Kauffman Foundation.

Philadelphia

1 Firethorn Lane, Malvern, PA 19355 is offered at $1,997,500 by Terese Brittingham and Tom McCouch

Aside from the fact that it’s an already established major city with everything that comes with it — prestigious universities, transportation, businesses and sports franchises, Philly has made huge strides in gene therapy to battle cancer. Spark Theraputics CEO Jeffrey Marrazzo told Philadelphia Magazine, "I can make the argument that Philadelphia has the greatest concentration of foundational research in gene and cell therapy in the world.” Employment portal Dice stated that Philadelphia had the highest year-over-year growth for tech salaries in 2017, bettering Silicon Valley itself.

For more information on the real estate market in Philadelphia and larger Pennsylvania, contact Haute Residence partners Terese Brittingham and Tom McCouch of Keller Williams Realty Group.

Phoenix 

While the weather and tech sector might be hot, the house prices in Phoenix are not — $227,849 according to Zillow, an increase of 10 percent over the past year. They are predicted to rise a further 4.3 percent next year. What has skilled workers arriving at Phoenix in their droves is the city’s staggering 188 percent one-year increase in tech jobs between 2016-2017 with companies such as General Dynamics, Datashield and MST Solutions being the big employers.

Salt Lake City

Salt Lake City is a city known for start-ups. In fact, Entrepreneur reported that Salt Lake’s fledgling tech businesses had a value of $12 billion as of mid-2017. It ties in to the U.S. Chamber of Commerce’s No. 1 ranking for Utah for innovation and entrepreneurship and No. 2 for high tech performance in 2017.

Tampa

204 Harbor View Lane, Largo , FL 33770 is offered at $9,995,000 by Jennifer Zales

Even tech types are vulnerable to celebrity pixie dust and when that pixie dust is being sprinkled by one of their own — Bill Gates —everyone pays attention. Gates, along with business partner Jeff Vinik, plans to invest billions of dollars to make Tampa tech incubator, or as Forbes described it, "a model city of the future.” According to CNBC, 200 new residents flock to the city each day. Couple this with noted research institute, The University of South Florida and a median house price of $172,000, which is considerably cooler than the climate, and expect the number of Tampa transplants to increase. 

For more information on Tampa's real estate market, contact Haute Residence partner, Jennifer Zales.

The post As Silicon Valley Luxury Real Estate Soars, These Tech Centers Are Pretenders To Its Throne appeared first on Haute Residence by Haute Living.

The report defines a “power market” as a luxury metro area that typically attracts high-net-worth individuals, who seek a range of cultural and lifestyle opportunities. Airport accessibility, the ease of doing business, and a housing stock that offers exclusivity and privacy are key characteristics.

To create a list of top up-and-coming markets for condos and single-family homes, Coldwell Banker Global Luxury teamed up with The Institute for Luxury Home Marketing. The high-end status of each of the identified cities encompasses such metrics as sales-price-to-list-price ratios, days on the market, median list price and inventory, which are substantiated by the local expertise of Coldwell Banker Independent Sales Associates.

The findings characterize the top five buyer’s markets and the top five seller’s markets, which are concentrated in eight states across the country. In the latter demand exceeds supply, giving homeowners an advantage in price negotiations. The former, on the other hand, have excessive supply, which benefits buyers.

The top buyer’s markets are Boca Raton, Miami, Park City, Santa Barbara and Scottsdale, while the top seller’s markets are Denver, Nashville, San Francisco, Seattle and Silicon Valley.

Top Buyer's Markets

1.

2.

3.

4.

5.

"2017 was a very strong year for real estate in Park City," says Dennis Hanlon, realtor with Summit Sotheby's International Realty and Haute Residence partner. "The number of single-family homes sold in the Park City city limits and the surrounding areas increased by 5% since 2016. As home prices inside the city limits increased to an average price of over $1,000,000, we saw more buyers purchasing in the surrounding area."

This assertion seems to hold true for the other luxury buyer’s markets, where purchases follow a propitious climate and location (all of the five cities have major airports and a focus on a resort lifestyle).

"Other than the ideal year-round climate, Santa Barbara has an amazing array of world-class music, theatre, and lectures among other things," says Chris Palme, Coldwell Banker Global Luxury broker and Haute Residence partner. "That is unusual for a small city."

The seller’s markets have enjoyed rapid wealth creation – albeit for different reasons – which has quickly plummeted inventory as more and more individuals relocate there to ride the booming economy.

"A lot of people don’t think of the private sector job growth we have [in San Francisco] and the power of the IPO," says Rachel Swann, managing Partner of The Agency’s first San Francisco office and Haute Residence partner. "The enormous amount of wealth circling the city is incredible. Home prices are up 12% in January due to lack of inventory, and we’ve got 39,000 housing units on the horizon but the city also battles shortages in labor and hikes in construction costs that cripple the building of those units. In 2018, we are going to see a lot of changes in the Building and Planning sectors that will approve density in exchange for more affordable housing. I also see big trends in technology and Artificial Intelligence."

Home to Microsoft and Amazon, Seattle has also drawn a tech-savvy crowd, lured by high-paying jobs, affordable cost of living and vibrant culture.

"Washington State has no State income tax and is very much on the radar of the luxury buyer as well as the luxury second home buyer segment of the market," says Moira E. Holley, Seattle-based luxury real estate agent and Haute Residence partner. "If a California resident wishes to relocate their primary residence to Washington State, this can mean 51 % of the year in Washington with 49% in California, for example."

Top Seller's Markets:

1.

2.

3.

4.

5.

The post Top 10 Luxury Real Estate Markets To Watch In 2018 appeared first on Haute Residence by Haute Living.

The Valley has quickly morphed into a real estate hot spot due to the throngs of tech founders, financiers, and foreign buyers that have flocked to the region, thanks to the rapid advancement of technology. Even the modest, "ordinary" homes nestled in the area have turned into highly coveted estates, making any property under a million dollars seem affordable (one of the least expensive houses in Woodside right now is a two-bedroom, one-bath cottage, which is going for a measly $949,000).

The post Silicon Valley Takes the Cake in Luxury Home Market appeared first on Haute Residence by Haute Living.

The 141-square-mile island is the sixth largest in the Hawaiian chain. Billionaire David Murdock was the previous owner. He reportedly decided to sell after taking more than $18 million a year in losses on the island.

The purchase is for an undisclosed amount. It had been listed for $500 million.

Ellison was apparently in competition for the island; Microsoft founder Bill Gates was also interested in the property. He rented it back in 1994 for his wedding.

Hawaii Governor Neil Abercrombie says his office is excited about the purchase, citing Ellison's long standing interest in natural conservation and preservation of the oceans though his sailing pursuits.

Approximately 3000 people live on the island, and it's not yet clear to them exactly what Ellison's plans are for the land.

Photo: Trip Advisor

The post Oracle CEO Larry Ellison buys Majority of Hawaiian Island appeared first on Haute Residence by Haute Living.