Luxury Real Estate

Courtesy of Casey Losh of Ewing & Clark

Going once, going twice, sold for $12 million.  This winning (and minimum) bid was accepted in late June for the purchase of a 23,000 square foot mansion in Mercer Island, WA (located just outside of Seattle).  The home, originally listed 6 years ago at $40 million, was placed in the hands of a New York auction firm in February to be sold.  The home’s winning bid was 30 percent of its original list price. Although there are perks to home auctions, such as a quicker closing and typically serious buyers, there are also some downfalls.  Buying a home in an auction usually leaves no room for negotiation, one of the perks of a traditional home sale.  Auctions may also be more costly to the seller than the conventional route.  Finally, because auctions are usually characterized by the urgency to sell, sellers may not always receive full market value for their property. 

Ewing & Clark currently holds the record for the most expensive Mercer Island home sold.  Sold by agent Betsy Terry in 2009, the selling price exceeds that of the recently auctioned mansion by over 29 percent.

By Michael Marquette of Marquette Turner Luxury Homes

Luxury Grand Mansion Estate

This exceptional luxury home in Stockton near Newcastle was built in 1897 and was originally known as “Quigley House“. Proudly presented by Marquette Turner Luxury Homes, the home is built on a fabulous estate covering 2333 square metres.

The interior of the main building has been stunningly restored and renovated, retaining much of its original Victorian elegance. North Coast cedar is one of the many features of this magnificent residence as is the arched beveled glass. The home offers seven marble fireplaces, each with unique tile work.

The significant work completed on the house has resulted in a home with every modern convenience. The gardens have been completely remodeled and additions include a wonderful courtyard, over-sized three car garage with abundant workshop space and a separate guest quarters.

For more information on this stunning property, please click on the images above or here

Media: Read what the New York Times had to say HERE

Price: $1.8 million AUD

By Christina S. N. Lewis

Candy Spelling, the widow of television producer Aaron Spelling, is offering her Los Angeles mansion for $150 million -- apparently the most expensive home for sale in the U.S.

Mr. Spelling, who produced a string of hits over five decades from "Charlie's Angels" to "Beverly Hills, 90210," died at the 123-room house in 2006 at age 83. Last year, his widow, a former model, said she planned to "downsize" to a $47 million condominium on the top two floors of a building in the Century City district. At that time, it was reported that she was looking at offers for her house in the $150 million range.

Ms. Spelling's current, 57,000-square-foot house, dubbed "the Manor" and featured on guided tours of Hollywood mansions, includes a bowling alley, a beauty salon, a gift-wrapping room and a screening room whose screen rises out of the floor, with paintings moving up to reveal the projector.

The Spellings bought the nearly five-acre property, at one time the home of Bing Crosby, in the early 1980s, tore down the house and rebuilt. When completed in 1991 it was considered the largest home in Los Angeles by far. Sally Forster Jones of Coldwell Banker Previews has the listing together with Jeffrey Hyland and Rick Hilton, both of Hilton & Hyland/Christie's Great Estates.

The record for most expensive U.S. home is a matter of some debate. Investor Ron Baron bought 40 acres of vacant land in East Hampton, N.Y., for $103 million in 2007. Last year, Donald Trump sold a Palm Beach, Fla., home for $95 million to a Russian billionaire.

Since Ms. Spelling announced her planned move to Century City, she's fielded roughly a dozen calls from qualified buyers, including some hotel investors, estimates Stephen Goldberg, her attorney. She didn't consider lowering the price. "The ones who could afford it three years ago, can still afford it today," he says. $150 million "is not a lot."

Imus Asks $30 Million

Radio host Don Imus last week put his Connecticut waterfront country compound up for sale for $30 million.

The 10,000-square-foot white clapboard Georgian Revival main house is in Westport, a suburban community 48 miles northeast of Manhattan. The 16 rooms include six bedrooms and six baths, with white-painted wood interiors and multiple bay windows. Also on the four acres is a two-bedroom guest house and a two-bedroom gatehouse with parking for six cars. The property has 215 feet of sandy beach frontage, and a pool could be built, the listing says.

Mr. Imus, 68 years old, bought the property in 1997 for $4.6 million and completed his home in 2000, according to the listing. He briefly listed the home in 2005 for the same price. Darlene Letersky, of Fine Homes Connecticut, has the listing. The town record is the $25 million sale in 2006 of talk-show host Phil Donahue's home, according to Charles Zylstra of Nicholas Fingelly Real Estate.

Mr. Imus declined to comment. While broadcasting "Imus in the Morning," which airs on ABC Radio Networks, Mr. Imus last week announced that he's battling Stage II prostate cancer; that diagnosis indicates the disease hasn't spread.