Sotheby's, Christie's Rated Most Prestigious Real Estate Companies by Luxury Consumers

High net-worth consumers rated Sotheby's International Realty the most prestigious real estate company in the 2008 Luxury Brand Status Index survey by the Luxury Institute (www.LuxuryInstitute.com). Respondents who would recommend Sotheby's International Realty say they have "high-end properties," "exclusive listings," "great customer service," and an "excellent reputation." Christie's Great Estates was rated a very close second; Corcoran group was rated third.

Spending Habits of the Business Elite

The business elite, defined as execs with 250+ employees and salaries of $400K+, exhibit the following characteristics:

• 43% take $3000+ per person vacations
• 1 in 4 own vacation homes
• 1 in 4 own jewelry in excess of $4000

Source: Brandweek, May 17 2008. Click headline for full story.

Top 10 Counties for Millionaire Households

From Los Angeles to the Hamptons, research company TNS ranks the top counties for millionaire households in the United States. Millionaire households are defined as those having at least $1 million in net worth, not including primary residence:

	County Name	Number of Millionaire Households
1	Los Angeles Co., CA	261,081
2	Cook Co., IL	168,422
3	Maricopa Co., AZ	126,394
4	Orange Co., CA	115,396
5	Harris Co., TX	107,513
6	San Diego Co., CA	100,727
7	King Co., WA	75,616
8	Santa Clara Co., CA	72,932
9	Nassau Co., NY	71,869
10	Suffolk Co., NY (Hamptons)	71,343

Source: Wall Street Journal Wealth Report, May 6, 2008

The Wealthy Continue to Buy Vacation Homes

Forty percent of wealthy respondents, defined as those with incomes of $500,000 or more, said they plan to buy real estate over the next year. They are mainly looking for leisure properties:

• 1/3 plan to buy a vacation home
• 1/4 plan to buy a third home

The most obvious explanation: the wealthy are not as affected by the economic downturn. In fact, the super high-end of the real-estate market (properties that cost $20 million or more) is the least affected by the mortgage crisis.

Source: Harrison Group, April 2008