July 2012

TheMReport — News and strategies for the evolving mortgage marketplace.

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Page 18 of 84

SOCIAL LIFE Trending: Luxury Home Links What do our fans and followers really want when connecting with MReport's social media pages? The diverse industry professionals joining our online networks are gravitating toward headline-making, high-end real estate news as the summer home-buying season heats up. FAMOUS MIAMI ESTATE TIED FOR MOST EXPENSIVE U.S. LISTING The Miami Beach home that once belonged to the late fashion icon, Gianni Versace, has hit the market for $125 mil- lion. The Ocean Drive home, dubbed Casa Casuarina, boasts a tiled pool trimmed in 24-karat gold, elaborate fres- coes, and luxurious grounds. At its current asking price, the manse is tied with Los Angeles' Fleur de Lys estate as the most expensive house for sale in the U.S. THE "APARTMENT OF THE FUTURE?" Eco-friendly entrepreneur and founder Graham Hill has unveiled his unique, 420-sqaure foot apart- ment in Manhattan, telling the New York Times that the project provides "the function- ality of an apartment almost triple the size." Hill completed his project with a $325,000 renovation, based on plans by Romanian architecture student Catalin Sandu who won his design contest for the space. SAUDI PRINCE STRIKES DEAL WITH WALL STREET ROYALTY Saudi Arabian Prince Bandar bin Sultan has sold two Colorado estates to American hedge fund billionaire John Paulson. In the $49 million transaction, Paulson will take ownership of the royal's 90- acre Hala Ranch and 38-acre Bear Ranch, both located in Aspen. Real estate rumors reveal that he will change the name of the larger property to Star Ranch, in addition to "scaling down" the main house. OCTAGONAL HOME BOASTS STEELY INTERIOR, "WHIMSICAL" EXTERIOR In Erwinna, Pennsylvania, a 1970s kit home has garnered gawkers since hitting the mar- ket this spring. The octagonal shape of the three-bedroom, two-bathroom Topsider home disguises a tough, steel foun- dation that is built to endure hurricanes and earthquakes. Built in 1978, the property is listed for $365,000, and agent Mary Lou Erk calls it "peaceful, serene, and truly the perfect spot." WASHINGTON HOME OUTFITTED FOR FENG SHUI A 10,500-square-foot manse on Bainbridge Island in Washington boasts an art studio, 4,000 bottle cellar, and is constructed from materi- als including "1,000-year-old recycled" cedar and "beams from a shipwreck." However, the property's most over-the- top element is its "Feng Shui compliant" design, as created by architecture firm Miller Hull. The estate is on the market for $12.8 million. THE M REPORT | 17

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