Filed under: Estates

Another big estate has hit the market. Point Farm is located on a promontory on Virginia’s Eastern Shore where two and a half miles of white-sand shoreline surround the estate’s 130 acres with panoramic views across the Chesapeake Bay. The farm was bought by Virginia Beach developer Dan Hoffler in 1989 for $2.5 million (hence the scrolled H on the home’s gate). It includes a 16,000 square foot mansion and two parcels with several buildings. The massive brick home, built in 2003, sits on a parcel that was assessed in 2004 at $5.4 million while the second parcel of 14.9 acres with a restored farmhouse, a boathouse, pool and pool home, tennis courts and a huge garage with living quarters was assessed at $1.76 million. This means that the two parcels in 2004 amounted to $7.16 million which makes the home’s price of $41.75 million quite staggering. According to this AP article, a new assessment is being undertaken.

The property includes a stable and indoor riding arena, a skeet-shooting range, three stocked saltwater ponds, a hunting lodge, a pier with a boathouse, a heated mineral-water swimming pool and a copper and slate-roofed poolhouse that has a kitchen and a terrace and a tiki bar. The estate also includes the original farmhouse which was built in 1730 and has been elarged and renovated. It has six waterview bedrooms, a kitchen and loggia, a waterside tennis court and brick terraces facing Remus Cove. The main house has a huge office that opens to a media room and an exercise room with a full bath. The home includes many porches and balconies and there is a widow’s walk on the roofline. The interior design style is cottage life on a grand scale with murals, chandeliers, marble and lots and lots of floral-printed furniture.

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Filed under: Estates

Tucked into the lower seaside area of New Jersey, Stone Harbor is a resort enclave that doesn’t get a lot of press but is home to many expensive homes. The small town has a small year-round population but like other resort communities it booms in the summer with tourists and part-time residents flocking to the beaches. This home on Tuxedo Point has over 220′ of water frontage with wonderful views of the bay, wetlands and beautiful sunset. It has a huge pool area and the boat dock area will accommodate 4 or 5 of your watercraft. it has four bedrooms total and a beautiful light-filled kitchen. It’s a tiny close to the other homes but at least you get the point with a nice wedge of waterfront and the second story open balcony gives you a perfect place to watch the sunset. It is listed at $10.5 million.

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Filed under: Estates

The architect Travis Price has created some truly extraordinary structures (check out Wade Davis’s writing studio on the website, it’s stunning) but I’m not sure if today’s home is one of his greater creations. This 11,000-square-foot, six-bedroom home in the Forest Hills area of Washington D.C.has four stories and an open and angular floor plan. The home is dramatic but still appears to be comfortable and livable with large shared rooms but also plenty of private spaces. The listing blurb invokes Frank Lloyd Wright but I’m not really seeing that here. It is listed at $5.495 million.

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Filed under: Estates, Celebrity Shopping, Sports

The latest celebrity victim of the foreclosure crisis is former NBA star Latrell Sprewell. Last summer, Sprewell’s yacht, the 70-foot “Milwaukee’s Best” was repossessed now his home is meeting the same fate. RBS Citizens NA, or Citizens Bank, has filed a foreclosure suit on Sprewell’s $405,000 home in River Hills, a suburb of Milwaukee. Sprewell purchased the home in 1994 and owed $295,138 in outstanding payments plus interest. The documents state that Sprewell failed to make his mortgage payments of $2,593 per month since last September.

Sprewell, now 37, was once one of the NBA’s infamous bad boys, known for choking a coach during practice. He played 13 seasons total for three teams. Just a few years ago he turned down a three-year,$21 million contract extension from the Minnesota Timberwolves saying, “I’ve got my family to feed.” At that time he was making $14.6 million a year. The yacht, which Sprewell purchased for around $1.5 million was sold at auction for $856,000 to help pay off the $1.3 million he owes on the boat.

Sprewell is in some good company. Check out our gallery of other celebrity foreclosures below.

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Filed under: Estates, Celebrity Shopping

For a little while, frequently bare-chested romantic comedy star Matthew McConaughey has been living the real estate-less life in California. McConaughey sold off his three-lot Hollywood Hills compound toward the end of 2006 and then was spending most of his time in a couple of Airstream trailers in Malibu. He also still owns a 1.600-acre ranch in Texas. But last fall, McConaughey, who recently announced that his model girlfriend Camilla Alves is pregnant with their child, bought a $10 million property in Malibu. The property is a little over an acre and includes a four-bedroom home that was built in 1949. When the sale was announced in November, Huge Time Listings mentioned that the 3,550-square-foot home has had some celebrity owners in the past such as Richard Page, the lead singer of the 1980s band Mr. Mister (which had the popular songs ‘Broken Wings’ and ‘Kyrie’) who sold the house in 1996 to its most current owner for $1,260,000. As TMZ shows in a video on their website construction has begun on the home, expanding the home which is located on a deep lot just a few houses away from the ocean.

Matthew McConaughey is far from the first celebrity to spend a lot of money on a home that needs a lot of work or may even be a tear down. Our gallery below includes a few more examples of recently multi-million dollar buys bought for the land more than the home.

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Filed under: Estates

This contemporary home was designed by architect James Cheng and sits on a hill on Chartwell Drive in West Vancouver, Canada. The five-bedroom home is 8300 square feet and has ocean and city views. It has a limestone and glass exterior with a curved zinc roof, cherrywood accent walls and maple doors. It has an open living room and dining room, a Poggenpol kitchen and an insulated music room. I suspect the pictures of this one don’t do it justice at all. It is listed at $4.98 million Canadian.

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Chinese on the internet gaming stocks dip after analyst predicts companies will
CNBC - NEW YORK - Most Chinese on the internet gaming stocks declined Friday after a Citi Investment Research analyst predicted on the internet games _ and subscription games in particular _ will be hurt by current record snowstorms in China. American Depositary Shares of

Stocks slide on economic worries
CNN Money - NEW YORK (CNNMoney.com) — Stocks dipped Friday morning after surprisingly weak surveys on manufacturing and consumer sentiment revived worries about the threat of a recession. A profit warning from Best Buy kept the dangers for a consumer spending

US STOCKS-Market drops as consumer sentiment weakens
Reuters - NEW YORK, Feb 15 (Reuters) - U.S. stocks fell on Friday, with the Nasdaq losing more than 1 percent, on worries about consumer spending after electronics retailer Best Purchase (BBY.N: Quote , Profile , Research ) warned that shopper traffic dropped off

Brazil Stocks Fall, led by Net Servicos, on Competition Concern
Bloomberg - Feb. 15 (Bloomberg) — Brazil’s main stock index fell, led by telecommunication companies, on concern that easing regulations will spur competition in the industry. Gol Linhas Aereas Inteligentes SA and Tam SA, Brazil’s biggest airlines, fell after

Credit concerns weigh on US stocks
Financial Times - US stocks ended the week on a subdued note on Friday as economic data and heightened credit concerns sent leading indices lower to flat. Shares in retailer Ideal Buy were among the most prominent fallers, losing 4.5 per cent to $44.62 over the week

Stocks Finish Blended After Weak Data
Baltimore Sun - NEW YORK - Stocks completed blended as lackluster economic reports offered Wall Street little incentive to place huge bets ahead of a long weekend. Disappointing data on manufacturing, consumer confidence and import prices reminded investors on Friday

Mexico stocks end down on U.S. data, peso dips
Reuters - MEXICO CITY, Feb 15 (Reuters) - Mexican stocks dropped heavily on Friday as U.S. economic data disappointed investors, but the peso currency ended tiny changed after the central bank held interest rates steady, as expected. The benchmark IPC stock

US STOCKS-Wall St set for lower open on economic worry
Reuters - Last: NEW YORK, Feb 15 (Reuters) - U.S. stocks were headed for a sharp drop at the open on Friday on worries about the outlook for the economy and more credit losses at banks. A profit warning from electronics retailer Ideal Buy (BBY.N: Quote

French Stocks: Credit Agricole, Societe Generale, Thomson
Bloomberg - Feb. 15 (Bloomberg) — France’s CAC 40 Index sank 86.86, or 1.8 percent, to 4,771.79 in Paris, paring its gain this week to 1.3 percent. The SBF 120 Index retreated 1.7 percent today. The following stocks rose or fell in Paris. Stock symbols are in

European stocks down on fears about subprime write-offs at banks
CNBC - LONDON _ Stocks in Europe ended sharply lower on Friday, as worries about the health of banks, including Switzerland’s UBS, combined with poor U.S. economic data to send shares lower and largely wipe out the week’s gains. The pan-European Dow Jones

Helsinki shares close lower, paper stocks fall on Fitch outlook cut
Forbes - HELSINKI (Thomson Financial) - Shares shut lower led by Nokia (nyse: NOK - news - people ), with paper stocks falling after Fitch Ratings changed its outlooks on Stora Enso (nyse: SEO - news - people ) and UPM-Kymmene (nyse: UPM - news - people

Argentine stocks dip on U.S. economy worries
Reuters - BUENOS AIRES, Feb 15 (Reuters) - Argentine stocks closed slightly lower on Friday, pressured by losses in external markets due to weak economic indicators in the United States. The MerVal index of 42 leading stocks shut down 0.13 percent at 2,039

Market Report — Story Stocks ()
MSN MoneyCentral - It’s difficult to know where to start in reviewing the week that just concluded, because there was so much that happened. So, we’ll start with the end result. The major indices ended the week higher after each dropped more than 4.0% in the previous

UPDATE 2-Toronto stocks pulled down by oils, economic fears
Reuters - TORONTO, Feb 15 (Reuters) - The Toronto Stock Exchange’s main index recovered some of its earlier losses but remained lower on Friday afternoon, weakened by nagging concerns over the prospect of a U.S. recession. The S&P/TSX composite index .GSPTSE

Food stocks rally on Heinz, Buffett news
Reuters - CHICAGO (Reuters) - Food company shares regained a bit of their defensive luster on Friday when several showed they still have pricing power in the weak economy on the same day that investor Warren Buffett disclosed an 8.6 percent stake in the

US STOCKS-Credit, economic worries weigh on Wall Street
Reuters - Last: NEW YORK, Feb 15 (Reuters) - U.S. stocks fell on Friday, extending the previous session’s losses, on worries about the outlook for the economy and more credit losses at banks. A profit warning from electronics retailer Best Buy (BBY.N: Quote

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Filed under: Estates

Today’s estate is a slice of American history. Pheasant Hill Farm is located in Carversville, Pennsylvania. The 47-acre property is actually two separate parcels. The main home is on 10 acres and the other 37 are given over to farmland and wooded areas. The main residence is a cluster of frame and stone buildings. It is one of the earliest settlements in the area wit h public record showing a dwelling as early as 1704. The stone home is a country house with four bedrooms and it takes Americana collections to its cluttered extreme. The house and other outbuildings are surrounded by gardens and lawns and there is a large party room on the second level of the stone barn. It is listed at $6 million which is a really high price for the area.

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Filed under: Estates

Green real estate heads to Phoenix, Arizona in the form of the Aura at Camelback. The project will be a sustainable luxury-living development of 36 three or four-story townhomes. Each home will have a private elevator and a two-car underground garage as well as air-conditioned underground storage and a rooftop garden. The project will be totally solar powered. The development will certified LEED Silver and the solar system will generate all the electricity needs for the unit. The Aura will feature six floor plans ranging from 2,469 to 3,147 square feet. Homes will begin at $900,000 and be as high-priced as $1.3 million and construction is expected to start in Might.

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Filed under: Estates

It seems that in Southern California saying a home was inspired by Richard Neutra is becoming the equivalent of saying a home is Frank Lloyd Wright influenced in other parts of the country. The LA Times Hot Property column brought my attention to this Bel-Air homed which was once owned by Irene Kassorla,”the psychologist and author once described by Merv Griffin as the ’shrink to the stars’” and is currently owned by another student of the mind, Dr. William Bondareff, a professor of psychiatry at USC’s Keck School of Medicine. Bondareff and his wife Rita are headed up the coast to Carmel so this Neutra-inspired three-bedroom home is on the market. The home has beautiful outdoor space including a custom pool with a “wall of stone and water” which helps create a tranquil garden setting. The home’s rich wood interior includes a study/library. I like that it has maintained its 1960s-1970s sensibilities and it seems a lot cozier than most Neutras I’ve seen. It is listed at $2.195 million.

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