If you want this home you'll need to move quickly it's being auctioned off on Monday, August 3. This home is located in a place I spent plenty of time in as a child, the community of Oyster Harbors in Osterville, Massachusetts. This gated community is no recent addition to Cape Cod, it was established in 1927 on Osterville Grand Island. Today's home is a mortagee's foreclosure being auctioned off by JJManning Auctioneers. Supporting documents show that it is owned by Krikor Baytarian, head of Norada Construction, the company which built the home.

The new 8,500 square foot home sits on approximately 1.52 acres. The five-bedroom home includes large common areas, library, third floor observatory, a first floor master suite and the potential for additional guest quarters over the garage. The property is enhanced with decks, patios, and an in-ground pool with cabana and a pool house with a full bath, laundry, changing rooms and a wet bar.

A $50,000 deposit in certified or bank check must be shown at the auction. The balance is due in 30 days and other terms will be announced at the sale. Related documents say the home was once listed at $5.85 million and the tax assessment is $3,312,300.

I love looking at properties from my home town of Centerville, Massachusetts. I can remember passing this one down a long road on my way to the beach. This 1930s Georgian Colonial is directly on the beach facing Nantucket Sound. It has a private, sandy beach and a dock. Inside it is over 5,000 sq. ft. and 13 rooms, including six bedrooms. The style is classic Cape Cod and heavy on the nautical. While the kitchen seems newer other rooms definitely need an update. It is listed at $7.495 million.

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While places like Cape Cod and the Hamptons get absolutely jampacked in the summer months there are always enclaves where you can still capture the peace and beauty that drew people to these locations in the first place. Today's home is located in the town of Chatham on Cape Cod in a very private and prestigious neighborhood. The house, which was built in 2003 and designed by Francis Sullivan, is perched high above the shoreline for optimum views of the Atlantic and Monomoy Islands. The six-bedroom home has an impressive great room with stone and wood architectural touches, gourmet kitchen,large first-floor master suite, billiards room, and a lower level level filled with every amenity imaginable. The property is landscaped with lawns and lovely gardens and is listed at $12.95 million which makes it the priciest house on the market in town.

For more prime properties and lush locations, see Luxury Homes and Mansions.

Allow me to wax nostalgic for a bit. After all, this week finds me on Cape Cod, the place where I was raised, for perhaps the last time for a long time. My mother has decided to move to Florida and so I am here helping her pack up and move on. I have seen today's estate which is located in West Hyannisport from the water before, so it's neat to learn some of the details of it. The home itself is an over 10,000 square foot home that sits on nearly nine acres of prime real estate, with views of Nantucket Sound. The home was designed by Richard Bertman combining a classic New England shingle style design with turrets and a 40 foot tower. The home has an impressive white rotunda which isn't visible on the listing but can be seen on the CBT architects website. For your fitness efforts there is a window-lined pool room with a gunite pool, sauna, hot tub, and a staircase to the exercise room on the second floor which has a padded floor. There are four guest bedroom guest suites with private baths. There is an outbuilding that is home to a six car garage, a three-bedroom guest house and a caretaker's apartment with one bedroom. It is listed at $23 million which seems a bit ambitious to me given what I know about real estate on the Cape lately. After the jump, just ripping the window treatments out would really help show off the contemporary look of this home.

From the NY Post's Gimme Shelter:
--Deep discounts for Bubble Hill, Eddie Murphy's New Jersey home is now down to $22 million (from an original listing price of $30 million). His Dutchess County farm, known as "Clove Hill," is also listed at $$9.9 million check it out later as our estate of the day.
-- A five-bedroom apartment at 2 E. 67th St. is expected to be sold as part of an estate sale in the low-$30 million range. The prewar home has 16 rooms and several fireplaces.
--Robert De Niro is still renting Central Park West but almost bought a triplex penthouse in a renovated townhouse at 3 E. 75th St. The townhouse is back on the market for $20 million.
--The planned condo project at 485 Fifth Ave. is a no-go. Deposits have been returned and the developers are thinking of turning it into a hotel. This is a move we have seen in a lot of condo projects in trouble but not usually in ones were almost half of the units are already sold.

From the NY Observer's Manhattan Transfers:
--Her Serene Highness Gloria von Thurn und Taxis, a German noble has bought a full-floor co-op at 14 West 17th Street for $3.2 million for her daughter, Princess Elisabeth.
--Jean Pierre Collardeau, a con man who took investors for over $20 million has sold his apartment for $1.68 million. The money will go toward reimbursing his victims.
-- Designer George Beylerian has sold his 9,750-square-foot brownstone at 16 East 77th Street for $10.4 million. He bought the brownstone in 1977 for $270,000.

From the Wall Street Journal:
-- Gwen Stefani and Gavin Rossdale have bought a Beverly Hills home once owned by actress and singer Jennifer Lopez for close to the $15.5 million asking price.
--Matthew Maxwell Kennedy, son of the late senator and presidential candidate Robert F. Kennedy, has put his six-bedroom home in Hyannisport on Cape Cod on the market for $5.995 million. The shingled home is located around the corner from the main Kennedy compound The listing is here.

From the LA Times Hot Property:
Macy Gray has put her Encino home on the market for $4.559 million. Fun features of the home include a basketball court with a mural, dual staircases, a dome ceiling and pool and spa. The listing is here.
--Michael Berns, consulting producer on the CBS drama "Waterfront" has listed his Point Dume home at $3.5 million. The home has five bedrooms, access to a private beach, outdoor shower and a master bathroom that has a steam shower with a sound system and dual rainheads. The listing is here.
--Kells Jesse, a production designer and his wife, Meshell, have bought a home in La Cañada Flintridge for $915,000.
--More sports action in Manhattan Beach, basketball player Slava Medvedenko has sold his home to L.A. Kings hockey player Alexander Frolov for about $2.3 million.
--Cheryl Chase, the voice of Angelica C. Pickles on the cartoon series "Rugrats," has listed her Sunset Strip-area home for $1.2 million. The charming, traditional home has a white picket fence, three bedrooms and an office/den. The listing is here.

Another great auction from J.P. King is set for mid-September. Join me on a tour of Hedgebound, beautiful Cape Cod estate. Hedgebound is on 3.25 acres and is located in Truro, offering access to some of the Cape's least crowded and most scenic beaches. The seven-bedroom Greek Revival style home is believed to have been built in the mid-1880s. The home has been updated but not so much that it has lost its New England charm; it makes use of reclaimed materials to keep the antiquated look. Details include a large kitchen with a soapstone counter, a formal dining room, sitting area with a fireplace and beautiful porches. The land includes gardens, stone walls, rock gardens, and walking trails. There is also a carriage house with a two-bedroom apartment. Hedgebound will be auctioned off on September 21. After the jump, someone really loves the look of a trunk at the foot of the bed.

This week I'll be writing from my childhood stomping grounds on Cape Cod, Massachusetts so I had to take a look at the top property in my hometown. This brick home was built in the 1920s, a time when vacationing on the Cape was perhaps at it's most luxurious. The home has views of the Centerville River, East Bay and Nantucket Sounds and has immediate access to a white sand beach and a deep water dock. The property also includes a gunite pool, two bedroom guesthouse and a unique stone tower. The six-bedroom home could use a bit of an interior update. It is listed at $8.2 million. After the jump, classic Cape Cod.