Modern Renaissance

Forbes: 12 Unusual Housing Trends to Track in 2013

Modern architecture has been gaining in popularity for some time, but a slew of recent big-ticket sales have arguably cemented its appeal among buyers, including a $47 million Contemporary compound in Miami (pictured above) where Mediterranean architecture has always ruled. Floor-to-ceiling glass walls, soaring 12-foot-plus ceilings, and open floor plans that seamlessly blend one room into another have helped propel the design aesthetic in locations across the country. Another reason these homes are moving, particularly in ritzy enclaves like Beverly Hills where other styles have long dominated: "There's so much money coming in from Asia where the preferred style is modern," says Erik Coffin of Gotham Capital Management.

(Oren Alexander)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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12 Unusual Housi... A bevy of unusual, innovative, and in some cases unprecedented, trends have been emerging in the housing sector that are likely to continue affecting everything from architectural design to buyer behavior. We rounded up a list of market trends to watch for this year.

(AP Photo/Bill Sikes)

More from Forbes:
Biggest Billionaire Home Sales of 2012
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20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Sky-High Homes Forget balconies and terraces. High-rise residents in luxury buildings across the U.S. apparently want lofty views from nose-bleed heights. In New York City a series of tall residential towers have been rolling out, each one looking to outdo its predecessor, including Harry Macklowe and CIM's 1,395-foot 432 Park Avenue project and Extell Development's up-and-coming 1,005-foot One57 tower and its recently announced plans for a 1,550-foot tower at 225 West 57th Street. In Dallas, Museum Tower, the city's new second-tallest residential building, is opening. In the Miami area, two new projects -- the Porsche Tower and the Mansions at Acqualina -- will rise over 50 stories high. In Chicago, a soaring penthouse at the top of the 92-story Trump International Hotel and Tower is currently listed for $32 million; it's the America's tallest completed home for sale.

(One57)

More from Forbes:
Biggest Billionaire Home Sales of 2012
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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Creative Financi... Despite record-low mortgage rates, real estate lending remains tight for many homeowners as well as home builders and small-scale developers. Non-traditional lenders have seized the opportunity to finance real estate investments from mortgages to development projects, in many cases charging hefty interest rates in return for the cash. Wall Street-based hedge funds and sovereign wealth funds have been among the most active for larger projects, while small firms like Procida Advisors underwrite mortgage loans for single-family home investors. Loans acquired from the savings of family members have become increasingly more popular, too.

(AFP/Getty Images)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Boutique-Style C... Closets have become more important to homeowners: in 2012, master bedroom walk-in closets were one of the top projects on U.S. designers' lists, according to the AIA. Architects and high-end home builders say closets will continue to be important to owners this year, particularly space-designed to look and feel like a boutique store. Illuminated rods, compartmentalized storage, shoe walls, camouflaged jewelry safes and climate-controlled fur cabinets are popular. Some owners even install wine fridges, breakfast nooks, cigar humidors, stripper poles and putting greens. Designers focused specifically on closet space, like LA Closet Design and California Closets, have emerged to capitalize on the growing demand.

(LA Closet Design)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Luxury Auctions Distressed housing auctions have become a common concept since the foreclosure crisis manifested six years ago, but another type of auction has blossomed in the past several years as well: the non-distressed luxury home auction. Companies like Concierge Auctions take on high-end properties, typically ones that have languished on the market for an extended period of time, market them and then host an outcry auction for vetted qualified buyers. Whomever bids the highest amount (above the reserve if it's not an absolute auction) gets the home. The new buyer must close on the property within 30 days of the winning bid. The seller offloads the property and the buyer typically gets a bargain. For example, the Happy Valley estate in Scottsdale, Arizona (pictured above), fetched $5.5 million in a 2012 auction after failing to find a buyer willing to pay $13.9 million.

(Courtesy of Sotheby's International Realty)

More from Forbes:
Biggest Billionaire Home Sales of 2012
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20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
The Silent Landl... Unlike the house-flipping frenzy of the real estate bubble, many real estate investors (comprising roughly a third of the buyer pool) acquire homes, fix them up and rent them out for a monthly profit. Companies like national francise HomeVestors and Chicago-based MACK Cos have popped up to offer passive investors a crack at the market, too. Typically these companies buy distressed single-family homes, fix them up and secure vetted renters. They then sell the rented property to individual investors and in many cases stay on to manage the property for a small cut of the monthly rental income. MACK Cos guarantees a positive cash flow for two years and, piggybacking on the alternative lending trend, will finance 60 percent of the purchase price with a five-year balloon mortgage.

(Getty Images)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Smart Homes The cutting-edge innovations of the tech boom are finally finding their way into the home. Sure, home automation has been around for years, but the newest systems utilize Apple products like iPhones and iPads to automate living spaces more effectively -- and for less money. Home builders say smart home technology is one of the most commonly requested amenities among clients, and developers have begun incorporating systems into new condo and rental projects. The global industry is projected to surge to $35.6 billion by 2016 from $16.9 billion in 2011, according to MarketsandMarkets. Even telecom giant AT&T is testing out a home automation and security business called Digital Life, with hopes of rolling it out nationally later this year.

(Savant Systems)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Pet Amenities Developers have been stocking their high-end apartment buildings with loads of outrageous features. The latest: dog amenities that take 'pet-friendly' to a new level. In New York City, for example, the massive MiMA development's Dog City will walk, groom and arrange play dates for residents' dogs, while the Caledonia has a separate canine entrance where dogs can be cleaned up after a session outside, and the Pierre offers a pet food-centered room service menu.

(iStock)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Hotel Living Developers are increasingly pairing luxury residential offerings with high-end hotels in new mixed-use high rise buildings. From the Ritz Carlton Residences at L.A. Live to the up-and-coming One57 in New York and the planned Faena project at the Saxony Hotel in Miami, these new towers create another revenue stream for developers and provide residents with over-the-top amenities like fitness and spa services, room service and housekeeping.

(Ritz Carlton at L.A. Live)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Real Estate-Rela... Facebook may have put social networking on the proverbial map, but a smattering of tech startups aim to establish social networking platforms centered around housing. Houzz boasts 10 million monthly users who peruse the home design and remodeling site, creating image-driven idea books and sourcing contractors. Nextdoor.com focuses on neighborhoods, allowing its users to connect with neighbors and quickly exchange information about the area. Some sites -- like Miami Riches -- are virtual brokerages, piggybacking off of platforms like Facebook to market homes and client base.

(AP Photo)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Going Green Green home building is projected to encompass as much as 38 percent of the U.S. residential market by 2016, according to a study by McGraw-Hill Construction and the National Association of Home Builders, up from 17 percent in 2011. Spending on green home technologies (everything from energy-efficient windows to foam insulation to on-site renewable energy generation) is expected to rise to as much as $114 billion from $17 billion. Energy efficient appliances and windows, foam insulation, heating and cooling systems powered by geothermal solar panels and wind mills have all quietly begun invading new construction, particularly in the luxury end of the market. Lower monthly maintenance costs and tax incentives have helped fuel the demand.

(Realtor.com)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Car Elevators Former Governor Mitt Romney brought attention to this outrageous amenity, but he's certainly not the only high-end home owner or luxury real estate developer installing a car elevator. American Custom Lifts, maker of the PhantomPark car elevator, has seen orders balloon from two or three per month to about 20. Several new high-rise projects have incorporated their own versions of the car elevator as well: 200 11th Avenue in Manhattan and the up-and-coming Porsche Design Tower in Sunny Isles Beach, Florida, both boast lifts that carry autos from the buildings' basements to apartments' front doors.

(Prudential Douglas Elliman)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
Modern Renaissan... Modern architecture has been gaining in popularity for some time, but a slew of recent big-ticket sales have arguably cemented its appeal among buyers, including a $47 million Contemporary compound in Miami (pictured above) where Mediterranean architecture has always ruled. Floor-to-ceiling glass walls, soaring 12-foot-plus ceilings, and open floor plans that seamlessly blend one room into another have helped propel the design aesthetic in locations across the country. Another reason these homes are moving, particularly in ritzy enclaves like Beverly Hills where other styles have long dominated: "There's so much money coming in from Asia where the preferred style is modern," says Erik Coffin of Gotham Capital Management.

(Oren Alexander)

More from Forbes:
Biggest Billionaire Home Sales of 2012
America's Friendliest Towns
20 Strange and Unusual Homes for Sale and Rent

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.
More from Forbes Click here to see these amazing homes that you can live in.

(AP Photo)

The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.