luxury housing real estate

30 Luxury Properties Up For Auction In Park City, Utah

Filed under: Auctions, Real Estate Developments

We've seen a rash of condo and luxury home auctions in the Park City, Utah area before but nothing like this. On May 1 30 luxury properties ranging from condos to land to luxury homes will be sold in an auction conducted by U.S. Auctions & Realty. Among the properties is the one that once belonged to cookie queen Mrs. Fields. The 24,000 square foot home is on 51 acres in Wolf Creek Ranch. The press release doesn't mince words saying that "the bank is willing to take whatever they can get." The mansion was appraised at $3.8 million and has a current starting bid of $1.6 million.

Should the cookie palace not interest you, you could score 61 acres adjacent to Mitt Romney's former home in Deer Valley or how about 9,300 square foot winter wonderland where Paris Hilton stayed while playing in Park City? In total five properties are being sold "absolute," meaning that they will sell regardless of the final bid price.

Franz Prossegger, a developer, originally listed his home for more than $8 million, and now the starting bid is $2.995 million. When asked why he chose to put his 8,300 square foot new home in Deer Valley (the site of a recent Hollywood movie) into the auction, Prossegger said, "I like the extra exposure the auction method brings. The right buyer will find this property and will get a great deal through the auction."

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Tags: auction, condo auction, luxury home auction, luxury housing real estate, park city, utah

"Million Dollar Listing" house in Malibu to be Auctioned -- at 65 Percent Off Original listing price

by Ann Brenoff (RSS feed) —

Filed under: Estates, Auctions

Apparently not even a starring role on what is arguably the most-watched real estate "reality" show -- Bravo's "Million Dollar Listing" -- was enough to attract buyers to this 5,634 square foot home in Malibu. The canyon property is headed for a live on-site auction on May 22 with the opening bid set at $1.9 million -- substantially down (65%) from the original listing price of $5,495,000.

Expect the house to sell for just under $3 million, says Malibu Prudential agent and local blogger, Mike Gardner. Gardner lives near the listing himself and actively tracks the local Malibu market on his web site. The auction has a reserve, which if not met, means the house won't be sold.

The four-bedroom architectural home is located in a private, gated canyon with mature oak trees and streams. It is a short walk to the beach through a tunnel and the home has ocean views. It sits on a flat acre and there is a detached one-bedroom, one-bath guest house. The state-of-the-art kitchen includes stainless steel appliances. The flooring is white marble, imported from Greece. The driveway and motor court are constructed of Arizona flagstone. Katie Bentzen of Arete Estates shares the listing with Hilton & Hyland's Chad Rogers, one of the three "Million Dollar Listing" stars.

Tags: luxury home auction, luxury housing real estate, malibu, malibu house auction, malibu real estate, mike gardner, Million Dollar Listing, million dollar listings, real estate auction

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Hawaii The New "It" Spot for Lux Condos

by Nicole Weston (RSS feed) —

Filed under: Estates, Luxury Travel & Hotels

Hawaii has always been known as a little piece of paradise and now it seems that the real estate market is booming there like never before, especially for buyers looking for second and third homes. Condos are especially popular because they can be as roomy and luxurious as a house, but take much less maintenance. Condos also often have luxurious amenities that stand-alone houses are not able to offer. Spectacular views from 20 and 30 stories high and easy beach access are among the obvious benefits, but new buildings like the Trump Waikiki Tower will include a wine cellar, lobby bar, cafe, fitness center, spa, concierge service, 24-hour room service and valet service, all of which will be available to both condo owners and hotel guests alike. These luxury condos are selling for up to $6 million, with demand expected to grow over the coming months as new developments are added.