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September 2014

Found 7 blog entries for September 2014.

According to an article recently published in the Aspen Times, city leaders are setting a date to change the going mitigation rate for residential projects while maintaining affordable housing. Currently, the rate is considered to be “far too low" at $76 per square foot for the developer's fee to the city for building affordable housing.

The anticipated rise in rates is due to the fact that construction costs far more than the tax. In Burligame, Phase II went for about $509 per square foot (of livable area). Main Street’s affordable-housing project went for $350 per square foot to initiate, yet after adding construction costs “the total comes out to $520 per square foot”. Local homeowners are now receiving figures and surveys in order to gauge public

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Engel & Völkers North America today announced that Jim Ramsay, former Senior Vice President of Sales, Operations and Field Services for both Better Homes and Gardens RealEstate and CENTURY 21 Real Estate, has joined the international luxury real estate brand as Chief Operating Officer.

“We are extremely happy to have Jim as part of our leadership team,” said Anthony Hitt, CEO of Engel & Völkers North America. “Jim has a proven record of success having managed the operations and growth of two of the biggest brands in real estate. He is well-recognized in the industry and with his experience and leadership is playing a critical role in establishing Engel & Völkers as a leader in the United States, Canada and Mexico.”

In his role as COO with Engel &

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FOR IMMEDIATE RELEASE

Ramsay to strengthen Engel & Völkers’ position in new North American markets and broaden the brand’s service offerings for brokerages and agents.

Engel & Völkers North America today announced that Jim Ramsay, former Senior Vice President of Sales, Operations and Field Services for both Better Homes and Gardens Real Estate and CENTURY 21 Real Estate, has joined the international luxury real estate brand as Chief Operating Officer. “We are extremely happy to have Jim as part of our leadership team,” said Anthony Hitt, CEO of Engel & Völkers North America. “Jim has a proven record of success having managed the operations and growth of two of the biggest brands in real estate. He is wellrecognized in the industry and with his

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4 REASONS TO INVEST IN ASPEN THIS YEAR

HIGH SALE PRICES

During an Aspen Business Luncheon in early September, Andrew Ernemann and Lex Tarumianz through some staggering statistics, reflecting Aspen’s increasing market revival. In the entire Aspen and Snowmass surrounding area, the average sale prices are 92% of list prices. Compared to previous years, this number is up from 2009-2010 (at 87%), but down from 2007’s rate of 96%.

 In Aspen, home sales have soared and are up 14%, and add to Aspen’s overall YTD sales which are up 5%. Although condo sales are only up 2%, Condo and Townhome prices are up 20% this year (vary on location).

 Single Family prices are also up 5-6%, but can increase even more based on the neighborhood, as with any property

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• Prices per square metre of up to 4,000 US dollars in prime locations

Hamburg/ Punta del Este. International demand for second homes in Punta del Este in southern Uruguay is on the rise, thanks to clients from Europe in particular. “In popular locations in Punta del Este we’re registering increased interest in high-quality properties right on the coast, mainly from German and Italian buyers. Alongside Europeans, potential foreign buyers primarily come from Argentina, southern Brazil and the USA,” said Sandra Sofio, Managing Partner of Engel & Völkers in Punta del Este.

Punta del Este is one of the most expensive places to live in Uruguay. Buyers are prepared to pay top prices per square metre of 4,000 US dollars (approx. 3,000 euros) for villas on

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Contact: Megan Kivlehan, Quinn, mkivlehan@quinn.pr, 212.868.1900 x264

Team Looks to Leverage International Firm’s Extensive Network to Expand Business

European-based global real estate firm, Engel & Völkers announced today that the Howard Morrel Team has joined its New York City brokerage office. Led by Howard Morrel and Leslie Hirsch, the Morrel Team joins the firm having previously been one of the top performing teams at Brown Harris Stevens. Consistently ranked among the top one percent of real estate professionals in the country, Morrel was recently recognized in the “The Thousand” published by The Wall Street Journal and REALTrends in June. The prestigious ranking placed him as the 11th top-producing agent in New York City, and 111th in the

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• Sale price marks a several million euro investment

• Historic properties: demand from China is on the rise

Hamburg. The fairytale-like Renaissance Castle Ramholz now has a new owner. An overseas entrepreneur acquired the aristocratic residence near Frankfurt for a sales price of several million euros. “The parties involved have agreed not to disclose the precise transaction amount,” said Christoph von Schenck, Head of the business segment Castles and Manor Houses at Engel & Völkers. Castle Ramholz is situated in the historic grounds of Ramholz Park, in the Vollmerz quarter of the town of Schlüchtern, around 40 kilometres southwest of Fulda. The city of Frankfurt and Frankfurt Airport are just one hour’s drive away. The estate comprises an ensemble

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