properties

Ridgeview at the Groves, Selling So Cal's Wine Country Lifestyle

Temecula, one of the lesser known wine regions in California will soon be home to a new luxury development. Ridgeview Estate at the Groves is a $102 million dollar development of 41 two-acre custom home sites located in the hills overlooking Temecula. The gated community will include finished individual view lots. Temecula, which is in Southwestern Riverside country, has been experiencing a boom in tourism with resorts and increased attention focused on local wineries. Temecula lacks the lavish gorgeousness of Northern California's wine country but the estates will still probably be quick sellers. The first phase of lots will be released in October.

Related: It seems like Temecula is having some of the same problems with wine-rowdy tourists that plague Napa and New York wineries.

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Tags: development, estates, properties, temecula, wine

Forbes' Most Expensive US Rentals 2007

by Nicole Weston (RSS feed) —

Filed under: Estates

Not everyone is looking to settle down, particularly celebrities and other extremely wealthy people, so the market for luxury rentals that offer a no strings attached home for as long as they care to stay is booming. Forbes has a list of the most expensive rentals of 2007. Instead of simply picking ten million-dollar-a-month pads, Forbes chose to list the most expensive in ten different metropolitan areas, which is something to keep in mind if you change cities as often as you change clothes. On their list, you'll find:

Atlanta - $6,500 per month for an 1,800-square-foot, two-bedroom, two-bath condo in Buckhead in a building with a 24-hour concierge and fitness center.
Washington, D.C. - $12,500 per month will put you in a 14,000-square-foot, six-bedroom estate in Spring Valley that looks a bit like a castle and features a heated swimming pool.
Los Angeles - $40,000 per month is all it takes to get into a Monterey-style Spanish colonial in the Hollywood Hills. The six-acre property has a 7,000-sq. ft., six bedrooms house with gardens, a heated pool and a 2,700-sq. ft. guesthouse.
Miami (pictured) - it is $300,000 a month for the 11,000-square-foot Villa Miami XIII on Palm Island. The 6-bedroom estate has "a full gymnasium, cinema-style theater, two Jacuzzis, a regulation beach volleyball court, heated pool and a waterfall," in addition to a boat dock that can accommodate up to a 100-ft. yacht.

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Tags: forbes, list, properties, rental, rentals, us

London Homes are the Most Expensive

by Nicole Weston (RSS feed) —

Filed under: Estates

Experts say that homes in London are the most expensive in the world. Property in the most desirable areas of the city average $2,300 per sq. foot, compared to $1,900 in New York City. The reason for the high prices is largely that London is, from a business perspective, a perfect place to live. Its time zone means that businesses have overlapping business hours with companies in the US and the Middle East and the fact that more than 50% of the housing market is owned by foreign buyers reinforces the city's position as an global hub. From all appearances, the trend of rising property prices will continue as the number of Asian buyers, which has grown by 60% in the last five years, is still on the rise, bringing new business and more money into the city.