David W. deMartino is an avid car and motorcycle collector. He loves his vehicles so much that he plans to plunk down $275,000 to purchase a 1,000-square-foot luxury garage at Park Place Car Condo, a secure, climate-controlled and weatherproof facility in South Florida that comes complete with its own bathroom—not to mention concierge service. “It’s a condo for my cars,” says deMartino.

Across the nation, similar storage facilities are springing up to meet the needs of affluent collectors looking for private, secure locations to store their exotic cars, art collections, wine or yachts.

Park Place has been so successful that the developer is studying the Scottsdale and New York metro markets as possible locations for the future.

Collectors of fine wine know how quickly they can outgrow their pantry’s wine rack. And as the number of oenophiles grows, so does the demand for facilities such as Vintage Wine Warehouse in Ridgewood, N.Y. At Vintage, wine is stored in a subterranean facility encased in 12 inches of poured concrete where the temperature is kept at a constant 55 degrees.

Similarly, RoboVault, a high-tech robotic storage facility opening in April, provides secure storage for wine, art collections and other valuables. RoboVault features an elegant wine tasting room as well as social events such as tastings and food festivals. The developer plans to expand the concept up and down the East Coast and has his sights set on Washington, D.C. and New York.

Expect to see more high-end storage facilities in affluent communities in the coming years, experts say. Why? High-rise condominium living may be luxurious, but it offers little storage space. And self-storage has lost its stigma as designs have evolved from institutional warehouses to aesthetically appealing locales that fit in with surrounding neighborhoods.

Selling your home during a recession-like climate certainly brings extra challenges. One of the best ways you can raise to the occasion is to make your home a marketplace standout. In a competitive real estate marketplace first impressions are paramount. When potential buyers turn the corner, you want them to feel a strong, emotional connection. You want them to think, "I want to live here!" not, "What else is for sale in the neighborhood."


Here are five things you can do to make your home shine:

* Debris Buster: A home overgrown with trees, bushes, and yard knick-knacks is not appealing. Instead adopt a less is more approach. You want an exterior that is neat and tidy. Edge all walkways and beds. Trim landscaping and remove unruly growth. A fresh application of mulch or rocks helps too.

* Walk the Walk: Carefully inspect your walkway and driveway. Are there things you can do to improve them? Powerwashing paths and sealing driveways can make a big difference. If either are in very bad shape, price out a professional repair.

* White Glove Test: Give your home�s exterior a thorough cleaning. This may include powerwashing siding and painting your shutter and doors.

* Let the Light Shine: Be sure to clean windows and storm doors

There are many variables at play during a real estate purchase; so when you have the chance to control one of those factors, it can be very appealing. That may be one of the reasons most buyers choose to "lock in" their mortgage rate.

Now the question becomes, "How do I find a qualified inspector?" Referrals are probably the best bet. Ask your real estate professional, friends and family who they recommend. But no matter who you choose, you need to ask a few key questions.

1. Are they a licensed home inspector? Most states require inspectors to hold a professional license. Ask to see the license or that a copy is faxed to you.

2. What are your qualifications? Find out if they take continuing education courses, how long they have been in the business and how many inspections they have completed. You may also ask for a list of references.

3. Are they a member of a professional association? There are national and many state associations for home inspectors. Ask to see their membership ID.

4. Are they insured? Inspectors or their employers should carry Errors & Omissions (E&O) insurance as protection in case something is missed or overlooked.

5. What process do they follow for the inspection? Here you want to find out if you will be able to attend the inspection. (Note: this is a great time for you to learn about the property first hand.) Also inquire about the cost and when the final inspection report will be ready.

It may seem like a tough time to be in the market for a home. In the wake of the sub-prime mortgage crisis and the related banking upheaval, lenders have tightened their purse strings and put the brakes on issuing homes loans, at least at the rates and terms that were prevalent just a year to six months ago. But not all the news is bad for today's buyers.

First, this new approach to lending can reduce the risk that you be a victim of unscrupulous lending practices. As a result, this more stringent approach may work to your benefit.

Use this time to learn as much as you can about the current lending landscape. Read articles in the newspapers and online. Reach out to your Realtor and ask for his or her interpretation of the recent developments. It is also wise to spend time analyzing your own finances including your income, assets, expenses and credit score. If you know your own budget and financial qualifications inside and out, you will know what is realistic and what is too good to be true.

Once you have identified what you want and are prepared with your own facts and figures start making some calls. Banks and mortgage companies may have reined in their lending, but it is still a free and competitive marketplace. Search for the best rates and terms available. However, if you feel you may get a better offer in a few weeks or months, and your timetable permits it, wait a bit. The advice of your real estate professional will be invaluable when making this decision.

Finally, remember that the real estate marketplace still favors buyers. The inventory of homes exceeds the current demand in most locations, so you have the opportunity to be more selective and a little more demanding at the bargaining table

Buying a home is a highly emotional purchase. People usually choose one home over others because they feel a strong connection to the property. But a home purchase is also a serious legal undertaking with real deadlines, criteria and procedures. That is why many buyers retain the service of a real estate attorney.

When you are buying a home your lawyer should do the following:

• Consult with you and review the purchase contract. In some states, once the contract is signed by both parties, it is a binding legal document. In other states, such as New Jersey, a grace period called attorney review lets the buyer's lawyer review the document for three days and then accept or reject the agreement. It is always a good idea to include a contingency in your offer that says you would like an attorney to review the contract. The contingency should allow you to walk away from the deal if your attorney advises against the purchase.

• Conduct a title search. A real estate attorney should oversee a title search for the property in question. You must be sure there are no liens, easements or other claims on the property. An attorney may also arrange for title insurance. This is protection most lenders require. Title insurance protects the buyer and / or the mortgage company should a defect in the title be discovered.

• Oversee your closing. A real estate attorney should ensure that all filings, documents and payments are in order for your closing. In addition to preparing this paperwork, your attorney should offer explanations for all the required documents and signatures.

The breadth of work performed by a real estate attorney varies from purchase to purchase. It's a good idea to discuss the scope of work you want performed up front. This will help you gauge how you will owe in attorney fees, which are payable at the closing.