Saturday, August 20, 2011

Denver Metro Area Luxury Sales and Price Climb in July, Coldwell Banker Residential Brokerage Reports

Denver, CO, Aug. 20, 2011 --( Luxury home sales and the median sale price in the Denver Metro Area rose in July over the same period a year ago as the high-end housing market continued showing signs of strengthening, according to Coldwell Banker Residential Brokerage, Colorado’s leading provider of luxury real estate services.

A total of 69 homes changed hands for more than $1 million last month, up 38 percent from the 50 sales in July 2010. The median sale price of a luxury home also jumped to $1,390,000, a 14 percent increase over last July’s median of $1,220,000.

On a monthly basis, sales in July fell just short of June’s 71 transactions but the median sale price rose 7 percent form the previous month’s level of $1.3 million.

Two other key indicators for the high-end market in the Denver Metro Area improved last month: A total of 15 homes sold for more than $2 million, up sharply from the seven multi-million-dollar sales last July and the 12 sales in June. And sellers received an average of 92.6 percent of their asking price, up from 90.8 percent a year ago.

 The figures were derived from Multiple Listing Service data of all homes sold for more than $1 million last month in the Denver Metro Area.

“July’s solid numbers on top of a good June give us reason to be optimistic about the luxury market,” said Chris Mygatt (top right photo) president of Coldwell Banker Residential Brokerage in Colorado. “The overall market has seen a steady decline in inventory of homes for sale, which should continue helping the housing market heal itself.”

Mygatt cautioned that the market will continue facing challenges, including the recent volatility in the stock market, slow economic growth, and geo-political issues both in the U.S. and overseas. But he stressed that with challenges come opportunities for buyers.

“While no one knows what the immediate future holds, if you intend to stay in a home for several years now is an outstanding time to buy,” he said. “Interest rates remain near historic lows and homes are priced very aggressively in many markets. That translates into an affordability level we haven’t seen in quite some time.”

For a complete copy of the company’s news release, please contact

Stephen Maita

Ryan Hill Realty Adds to Its REO Team of Experts to Meet Market Demands

Naperville, IL, Aug.  20, 2011 --( Ryan Hill Realty’s REO division works with Fannie Mae, Freddie Mac and HUD, in addition to National/Regional Banks and Asset Management Companies, to better serve and support the housing industry.

To facilitate demand from the division’s continuing growth, two noted names in the area’s real estate industry have joined the team. Art Bettuzzi was appointed REO Operations Manager to enhance, implement and oversee growth and lead generation; and Karen Larsen joined as Senior REO Account Executive to serve the division’s client base.

Teresa Ryan (top right photo), Broker/Owner states: “While Ryan Hill Realty started as a high-end luxury real estate company in the western suburbs, we have grown by adding a commercial and REO division and now serve the entire Chicagoland market with our commitment to having the best team and agents, delivering the best customer service and results to our clients. With the addition of Art and Karen, we are continuing to strive for excellence in all of our goals.”

For more information, visit Ryan Hill Realty’s web site at

For a complete copy of the company’s news release, please contact
Teresa Ryan
(630) 718-0424

Special Mortgage Rates from Liberty Bank in Chicago

CHICAGO, IL--(BUSINESS WIRE)--Despite a tumultuous housing market, homeownership is still a dream many Americans want to achieve – and hold on to. As a local mortgage lender in Chicago, Liberty Bank for Savings can help make owning a home more affordable now and in the future.

Lock in special mortgage rates with a Chicago bank today. Liberty Bank is offering a 30-year fixed-rate conforming home loan at 4.000% (4.095% APR*) for new purchases or new refinances.

Or get a 30-year fixed-rate jumbo mortgage at 4.500% (4.532% APR*). These below-market rates are available for a limited time only.

Why is Liberty offering such low rates? According to William J. Smigiel, Chairman & CEO of Liberty Bank for Savings, it's simple:

 "Homeownership improves communities and the economy, and Liberty cares about the success of the families and neighborhoods driving our economic engine. That's why Liberty is moving forward with its mission to help people save money, purchase homes and support their families," Smigiel says.

"Since 1898 Liberty Bank has helped thousands of families buy homes, and we won't stop," Smigiel adds. "We want to help rebuild the American dream."

Liberty Bank
Susan Andrews, 773-489-4458
Assistant Vice President, Marketing

Conrad Hotels & Resorts Unveils New Brand Campaign

 MCLEAN, Va.--(BUSINESS WIRE)--In honor of its 25th anniversary, Conrad Hotels & Resorts is celebrating its impressive milestone by debuting an entirely refreshed global marketing campaign.

Taking a page from the fashion world, the brand and its creative agency, Young & Rubicam (Y&R), have created a breakthrough campaign that captures the individuality of its guests.

To bring the concept to life, Conrad enlisted famed fashion photographer Anders Overgaard to tell the brand story through highly-styled images. Overgaard, who is known for his work in Harper’s Bazaar, Vanity Fair, Vogue, GQ and Interview, used his unique voice to showcase the beauty, local culture and sophistication that Conrad Hotels & Resorts offers to travelers around the globe.

“Conrad Hotels & Resorts is uniquely positioned to offer our guests a world of style, service, and connection,” said John Vanderslice, global head of luxury and lifestyle brands for Hilton Worldwide. “With 25 years of experience in creating ‘Smart Luxury’ for our global guests, Conrad is capitalizing on the strength and vitality of its silver anniversary by debuting a totally refreshed brand campaign.”

For a complete copy of the company’s news release and photos, please contact

 For Conrad Hotels & Resorts
Robert Allegrini, +1 312-663-6516
Lauren Staggs, +1 312-240-3378

San Diego Association of REALTORS to Host Regional Real Estate Summit Aug. 24

SAN DIEGO, CA--(BUSINESS WIRE)--The San Diego Association of REALTORS® (SDAR) will present the 3rd Annual Regional Real Estate Summit on Wednesday, August 24, at the Town and Country Resort in San Diego’s Mission Valley.

Real estate professionals and the general public are invited to this breakfast gathering to receive valuable information to navigate their business in today’s market. Respected industry experts will put the state and regional real estate economy in focus, and provide insight into trends for the near future. The summit begins at 9:00 a.m. with registration and networking, followed by the program which will conclude at noon.

2011 SDAR President, Bob Kevane (top right photo) will deliver welcome and closing remarks and moderate the question and answer section of the program. This year, distinguished speakers include:

The cost to attend is $29 for SDAR members and $39 for non-members (includes a continental breakfast). Tables of 10 are available at a discounted rate. For more information and to register, visit or call (858) 715-8000.

The Town and Country Resort is located at 500 Hotel Circle North, San Diego, CA 92108. Expanded speaker bios are available at

 The San Diego Association of REALTORS® is dedicated to the preservation of private property rights and to the promotion and protection of the business interests of our REALTOR® members.

San Diego Association of REALTORS
Nicole Anderson, Director of Marketing & Communications

Two Luxury Home Specialists at Stirling Sotheby’s International Realty in Orlando Close on Seven Homes in July for Nearly $6 Million

ORLANDO, FL --- Two International Luxury Homes Specialists at Stirling Sotheby’s International Realty in Orlando closed on sales of seven luxury homes in July that totaled nearly $6 million.

Roger Soderstrom, founder and owner of Stirling Sotheby’s International Realty, said Sally Andy (top right photo) and David Warren (bottom right photo) currently have seven pending sales that will total more than $5 million.

Soderstrom said the pair project luxury home sales for the third quarter that will total more than $11 million, with an average sale price of $785,000.

“We are seeing healthy growth in luxury home sales, which typically lead the market, and that’s a very optimistic sign overall for Central Florida,” Soderstrom said.

 For more information, contact
Sally Andy, Stirling Sotheby’s International Realty 407-687-7295;
David Warren, Stirling Sotheby’s International Realty 407-928-3760;  
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644-4142 

Mercantile Capital Corp. closes $11.2 million commercial loan, largest in company history


ALTAMONTE SPRINGS, FL --- Mercantile Capital Corporation, in Altamonte Springs, recently closed the largest single commercial loan in the company’s eight year history to finance improvements valued at more than $11.2 million at the Sanford Auto Dealers Exchange, located on Martin Luther King Blvd. in Sanford.

Geof Longstaff, chairman at Mercantile Capital Corporation, said their U.S. Small Business Administration (SBA) 504 loan financed 85 percent of the construction costs to improve the Sanford Auto Dealers Exchange’s auto storage facilities at below-market, long-term fixed interest rates.

Altogether, Mercantile Capital Corporation (a wholly owned subsidiary of Old Florida National Bank) closed on five SBA 504 loans in July to finance projects valued at $20.2 million in Florida, Texas and California. Chris Hurn, Mercantile Capital Corporation’s chief executive officer, added that these five loans account for 136 jobs created or retained.

Mercantile Capital Corporation ranks as one of the largest providers of SBA 504 commercial property loans in the U.S. The SBA 504 loan program finances small business owners who want to acquire, develop or improve their own facilities.

More information can be found at and

 For more information, contact

Geof Longstaff, Chairman, Mercantile Capital Corporation, 407-786-5040
Chris Hurn, Chief Executive Officer Mercantile Capital Corporation,, 407-786-5040
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644-4142 

Cotter Ryan Commercial and White-Challis Development Form Joint Venture to Focus on Urban Development Projects in Central Florida


LONGWOOD, FlL --- Cotter Ryan Commercial LLC of Longwood has formed a private-public joint venture partnership with White-Challis Development to focus on urban development projects.

Scott Ryan (top right photo), founder and president of Cotter-Ryan Commercial, said the joint venture will focus on mixed use and retail projects in Volusia, Seminole, Marion and Brevard Counties.

 For more information, contact
Scott H. Ryan, President, Cotter Ryan Commercial, LLC, 407-786-7686
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644-4142 

Cuhaci & Peterson Architects awarded contract to renovate 20,000-SF Rainbow Shoppes in Tampa, FL


ORLANDO, FL. --- Cuhaci & Peterson Architects LLC, based in Orlando’s Baldwin Park, was recently awarded a contract to design renovations at Rainbow Shoppes, a 20,000 square foot retail center on Dale Mabry Blvd. in Tampa.

Lonnie Peterson, chairman of the architectural firm, said Bayway Property Management awarded the contract.

 For more information, contact
: Lonnie Peterson, Chairman Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Jed Downs, President Cuhaci & Peterson Architects, LLC, 407-661-9100;  
Larry Vershel or Beth Payan, Larry Vershel Communications Inc., 407-644-4142 

Celebration Golf Club in Orlando to host Grand Opening of the Golf Academy Ping n Flight Fitting and Teaching Center Sept. 30

ORLANDO, FL --- Celebration Golf Management, Inc. will host a grand opening of the Golf Academy Ping n Flight fitting and teaching center at Celebration Golf Club Sept. 30.

Kenny Nairn, executive vice president of golf at Celebration Golf Club, said PGA Tour Player Bubba Watson (top right photo) will hold an exhibition and clinic during the grand opening event.

In partnership with Ping, the industry leader in custom fitted golf clubs, The Golf Academy’s Ping n Flight fitting and teaching center is a 2,500 square foot state-of-the-art facility with four full-time instructors, Nairn said.

 For more information, contact
:Kenny Nairn, Vice President of Golf, Celebration Golf Management, 407-566-4653  x4606
Gene Garrote, President, Celebration Golf Management, 407-566-4653  x4601
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142 

Home Sales at Celebration in Orlando up 10 percent so far this year, says Stirling Sotheby’s Sales Pro

ORLANDO, FL --- A study of housing sales at Celebration by Stirling Sotheby’s International Realty Trusted Real Estate Advisor Chris Wilson (top right photo) shows sales of luxury homes during the first half of the year are up about 10 percent over the same period last year and the rest of the year looks even better; pending sales have almost doubled. 

Wilson said 86 homes sold at Celebration from Jan 1 through June 30, including 24 homes that sold for more than $500,000.

Last year, Wilson said, Celebration housing sales totaled 78 homes, including 27 priced at more than $500,000.

One trend his study spotlighted is indicative of housing sales throughout the Central Florida region; while lower-priced homes took a dip in value, higher priced homes sold at a higher average than last year.

“The average sale price of all homes sold for less than $500,000 was down about $2,000 from the 2010 average,” Wilson said. “The average sale price of higher-end homes rose from $627,000 in 2010 to $699,000 this year.”

The study also shows fewer homes on the market.

“During the first half of 2010, sellers listed 147 homes for sale at Celebration,” Wilson said. “For the first six months of 2011, new listings at Celebration totaled 107.”  Visit to view the report.

For more information, contact: 
Chris Wilson, Trusted Real Estate Advisor, Stirling Sotheby’s International Realty  321-289-8787;
Roger Soderstrom, Founder/Owner Stirling Sotheby’s International Realty 407-581-7890 
Larry Vershel or Beth Payan, Larry Vershel Communications 407-644-4142