TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/81279
Some of the nation's wealthiest homeowners joined the real estate fray during housing's busiest season, putting high-end homes up for sale from coast to coast, and MReport is tracking the market conditions and property insights impacting their tony listings. LOS ALTOS HILLS, CALIFORNIA Who: John Chambers Where: Santa Clara County Property Notes: The CEO of Cisco Systems has put his luxurious Silicon Valley estate on the market. John Chambers, who also serves as Cisco's chairman, is selling his 6-acre Los Altos Hills property for $14.8 million. Built in the '90s, the 8,280-square-foot home includes the usual high-end amenities like a swimming pool, Jacuzzi, and tennis court. The listing's acreage provides stunning vistas— not to mention that those looking to make a statement with their real estate will gain an address in one of the most expensive ZIP codes in the U.S., according to Forbes. Market Statistics Median List Price: $3.295 million Change in Median List Price [y-o-y]: +22.3% State Statistics Total Sales [12-month summary, June]: 469,481 Change in HPI [m-o-m]: +1% Change in HPI [y-o-y]: +2.2% MANSFIELD, TEXAS Who: Kelly Clarkson Where: Tarrant County Property Notes: Former reality star and current pop princess Kelly Clarkson has put her ranch in Mansfield, Texas, on the market for $1.495 million. According to multiple online sources, Clarkson appears to be selling only a portion of her 50-acre property, as the listing encompasses only 14 acres. Clarkson customized the pretty estate, which was originally built in 1993, adding a manmade pond, lap and diving pools, a treehouse, and walking trails. The 6,880-square- foot home includes two master suites, a home theater, and a gym. This isn't the first housing transaction for Clarkson, who also sold her Nashville estate in 2010. Market Statistics Median List Price: $199,000 Change in Median List Price [y-o-y]: +0.3% State Statistics Total Sales [12-month summary, June]: 381,347 Change in HPI [m-o-m]: +0.8% Change in HPI [y-o-y]: +3.9% WESTPORT, CONNECTICUT Who: Don Imus Where: Fairfield County Property Notes: Radio icon Don Imus and his wife, Dierdre, have listed their Connecticut property for $19.9 million. RealEstalker. com reports that Imus has taken the waterfront estate on and off the market multiple times, dating from 2009, and when it was originally put up for sale, the "Greco-Georgian" property carried a much higher price tag of $30 million. Sitting on four acres, the 10,000-square-foot main home is accompanied by a two-bedroom "gate house," two-bedroom guest house, and a nine-car garage. The estate also boasts 215 feet of beach front, and neighbors of the seaside compound include Harvey Weinstein, Marc Lasry, and Rajat Gupta. Market Statistics Median List Price: $1.399 million Change in Median List Price [y-o-y]: +0.3% State Statistics Total Sales [12-month summary, June]: 34,402 Change in HPI [m-o-m]: +2% Change in HPI [y-o-y]: -4% BIGFORK, MONTANA Who: Donald G. Abbey Where: Flathead County Property Notes: Real estate tycoon Donald G. Abbey is looking to divest himself of a luxury lakeside estate, recently listing his famed Whispering Rock property for $78 million, making it the fifth most expensive home for sale in the U.S. Located on Flathead Lake near Glacier National Park, the 24-acre spread sits on its own private island, and Curbed notes that ultra- wealthy potential buyers will enjoy one-of-a-kind design elements like African mahogany, Italian marble, and Indiana limestone. Abbey has previously tried to sell Whispering Rock, and the current price tag represents a steep discount over his original ask of $105 million. Market Statistics Median List Price: $379,000 Change in Median List Price [y-o-y]: +1.1% State Statistics Total Sales [12-month summary, June]: 13,503 Change in HPI [m-o-m]: +0.7% Change in HPI [y-o-y]: +4.9% SUDBURY, MASSACHUSETTS Who: Former home of Babe Ruth Where: Middlesex County Property Notes: For baseball fans, it doesn't get any greater than Babe Ruth, and now that a Massachusetts estate once belonging to Ruth is on the market, homebuyers have the chance to live like the Sultan of Swat. The property, which is known as Home Plate Farm, is listed for $1.65 million, and the home is said to include a Ruth memorabilia room on the third floor. Built in the 1800s, the Colonial house has been fully restored. According to MSNBC, the 5,124-square-foot manse is "refinished with modern systems and materials to make it turnkey ready." Ruth's ownership of the Sudbury farm lasted from 1922 to 1926, following his trade to the Bronx. Market Statistics Median List Price: $675,000 Change in Median List Price [y-o-y]: -2.9% State Statistics Total Sales [12-month summary, June]: 88,760 Change in HPI [m-o-m]: +2.2% Change in HPI [y-o-y]: +1% About the Data: All Market Statistics from Zillow.com's Local Info; data reported current through June 2012. All State Statistics from CoreLogic's MarketPulse, as released on August 9; data reported current through June 2012.. About CoreLogic's Market Pulse: The Market Pulse is a newsletter published by CoreLogic, Inc. ("CoreLogic"). This information is made available for informational purposes only and is not intended to provide specific commercial, financial, or investment advice. CoreLogic disclaims all express or implied representations, warranties, and guaranties, including implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement. Neither CoreLogic nor its licensors make any representations, warranties, or guaranties as to the quality, reliability, suitability, truth, accuracy, timeliness, or completeness of the information contained in this newsletter. CoreLogic shall not be held responsible for any errors, inaccuracies, omissions, or losses resulting directly or indirectly from readers' reliance on the information contained in this newsletter. THE M REPORT | 13