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Category: Hot property

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Community spirit can affect local economic growth, survey finds

PleasantvilleDespite our fast-paced, gadget-heavy lifestyles, a recent Gallup study says many Americans are still chasing down fantasies of settling down in Pleasantville.

According to the study, a community’s social offerings, its openness to different social groups and its beauty trump  perceptions of local economy, leadership, jobs and basic services  when it comes to how the community's residents invest in its economic growth of their community. Emotional attachment to a community can also lead to local economic growth, according to the study.

“Our theory is that when the community’s residents are highly attached, they will spend more time there, spend more money, they’re more productive and tend to be more entrepreneurial,” said Jon Clifton, deputy director of the Gallup World Poll.

Produced in conjunction with the Knight Foundation, a nonprofit dedicated to promoting journalistic causes, the Knight Soul of the Community survey was conducted in 26 communities across the country.

The California cities surveyed were San Jose and Long Beach. What? No L.A.?

In a recent statement, Gallup states that the cities with the highest levels of resident love and passion for their community, or resident attachment, also had the highest rates of GDP growth over time.

The cities surveyed vary in terms of population size and how urban or rural they are. Gallup randomly surveyed 43,000 adults by phone in cities including Akron, Ohio, Tallahassee, Fla., and Detroit.

Paula Ellis, a spokesperson for the Knight Foundation,  said the findings point to a new trend when it comes to choosing a city to live in. “It’s especially valuable as we aim to strengthen our communities during this tough economic time,” Ellis said. The survey — conducted from 2008 to 2010 — was consistent despite declines in the economy.

Clifton said the study offers “new approaches for communities to organize themselves to attract business, keep residents and holistically improve their local economic vitality.”

Find the full study here.

-- Nathan Jackson

Bel-Air estate that Nicolas Cage lost to foreclosure sells for $10.5 million

Cagehouse
Nicolas Cage’s former Bel-Air home, which was lost to foreclosure earlier this year, finally has a new owner, the Multiple Listing Services shows.

The sprawling mansion, which had been listed for sale at one point for $35 million, sold for $10.5 million. A county courthouse steps auction in April had opened at $10.4 million but failed to generate any bids. There were six loans totaling $18 million on the property.

Although there has been speculation among local real estate agents that the 1940 Tudor might be torn down, a real estate source familiar with the deal said the new owner has hired a restoration architect to bring it back to flawless condition. The Gerard Colcord-designed house, on 1 acre, was home to both Dean Martin and Tom Jones.

The Bel-Air manse, at 11,817 square feet, has a central tower, custom wine cellar, 35-seat home theater, six bedrooms, nine bathrooms and a swimming pool. It had been most recently listed for sale at $11.8 million.

Cage, 46, won an Oscar for his role in “Leaving Las Vegas.” Although Forbes puts his 2009 earnings at $40 million, the actor has been plagued with financial and tax problems and lost several homes to foreclosure.

Last year Cage sued his former business manager, Samuel J. Levin. The complaint, filed in Los Angeles County Superior Court, accused Levin of having “lined his pockets with several million dollars in business management fees while leading Cage down a path toward financial ruin.”

Levin filed a countersuit, describing Cage as setting off “on a spending binge of epic proportions” and stating that by July 2008 Cage owned “15 palatial homes around the world,” four yachts, an island in the Bahamas, a private Gulfstream jet and millions of dollars' worth of art and jewelry.

--Lauren Beale

Thoughts? Comments?

Photo: The actor's former Bel-Air estate became bank owned in April after it failed to garner any bidders on the courthouse steps in Pomona. More images of the former Cage house in photo gallery. Credit: Everett Fenton Gidley

Hot Property: 'Modern Family' producer-director lists L.A. town house at $599,000

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Jason Winer, an executive producer and director of the ABC comedy “Modern Family,” has listed his three-level Hollywood-area town house for $599,000.

Part of a courtyard complex built in 1926 by Paramount to house its writers, the two-bedroom, 1 1/2-bathroom bungalow has 1,330 square feet of loft-like living space, a private patio and a detached garage.

The property previously sold in 2006 for $560,000, public records show.

--Lauren Beale

Thoughts? Comments?

Photo: The open-plan living room has high ceilings. Elisa Gil-Osorio of Sotheby’s International Realty’s Sunset office is the listing agent. Credit: Jeffrey Ong

Hot Property: Former 49er Joe Montana lists 500-acre wine country spread for $49 million

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Football great Joe Montana and his wife, Jennifer, have listed their 500-acre estate, with acreage in Sonoma County’s wine country, for $49 million.

[Note, an earlier version of this post referred to the estate as only being in Sonoma County. It has acreage in Sonoma and Napa counties.]

The Calistoga property includes a 9,700-square-foot Tuscan-inspired main house, an equestrian center, two year-round creeks, a pond, a regulation-sized basketball court, a skeet shooting range, a caretaker’s residence, a guesthouse, a swimming pool with a spa, a gym, a bocce court and a producing olive farm.

The main house has a loggia open to the outdoors, a sitting room in an upstairs tower and a climate-controlled wine cellar and tasting room. There are three bedrooms and 3 1/2 bathrooms.

Designed for indoor-outdoor living, the home has an outdoor courtyard with hand-painted frescoes, antique statues and fountains. An outdoor viewing tower has 360-degree views of Mt. Saint Helena and Knights Valley.
 
-- Lauren Beale

Thoughts? Comments?

Photo: Coldwell Banker Previews International and Pacific Union / Christie’s Great Estates have the listing at www.villamontanaestate.com. Credit: Jim Bartsch

Hot Property: Reggie Bush lists Hollywood Hills home

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Reggie Bush, former USC tailback turned New Orleans Saint, has listed his Hollywood Hills home at $5,099,000.

The tri-level contemporary, which has an elevator, sits at the end of a cul-de-sac and has 360-degree views encompassing Long Beach, Catalina Island, Malibu and the mountains. There are four bedrooms and 5 1/2 bathrooms in 4,831 square feet. Glass entry doors open to a soaring living room. Designed for entertaining, the home has a theater, a swimming pool and a spa.

The entire penthouse level is devoted to the master bedroom suite with his and her bathrooms, an over-sized closet and a deck.

Bush, 24, has been with the Saints since 2006 when he left USC before his senior year and was the No. 2 pick in the first round of the NFL draft.

The 2005 Heisman Trophy winner purchased the home for $4.7 million in 2007 for use as his off-season home, according to reports at the time.

-- Lauren Beale

Thoughts? Comments?

Photo: Reggie Bush Hollywood Hills home has a swimming pool and a spa.The listing agent is Joshua Altman of Hilton & Hyland, Beverly Hills. Credit: Marc Angeles

Hot Property: Dylan McDermott sells Brentwood home for $6.5 million

Mcdermotthouse 

Actor Dylan McDermott ("Dark Blue," "The Practice") and his former wife, actress Shiva Rose, have sold their 1920 Brentwood hacienda for $6.5 million, the Multiple Listing Service shows.

The walled and gated four-bedroom, three-bathroom residence has been home to other entertainment-industry couples, including Michelle Pfeiffer and television show creator David E. Kelley, and actress Melanie Griffith and actor Antonio Banderas. A 250-year-old oak tree sits in the frontyard as the centerpiece of the Spanish-style home.

The home’s two-story great room with beamed, cathedral ceilings opens to the dining area. The bedroom wing has three suites off a glass-walled galleria showcasing the gardens and fountains.

McDermott and Rose bought the 4,000-square-foot house in 1999 for nearly $4 million, public records show.

There are more photos of the house at latimes.com. 

-- Lauren Beale

Thoughts? Comments?

Photo: The bedroom wing has three suites off a glass-walled galleria showcasing the gardens and fountains. Mary Lu Tuthill and Kathleen Tuthill, both of Coldwell Banker, Brentwood Court, had the listing. Credit: Nick Springett

 

Hot Property: Larry Hagman lists his 43-acre Ojai estate at $11 million

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 Actor Larry Hagman ("Dallas," "I Dream of Jeannie") and his wife, Maj, have listed their longtime mountaintop home in Ojai for $11 million.

The nine-bedroom, 14 1/2-bathroom Mediterranean-style estate was designed and built for the couple in 1992. Sitting behind iron gates, the 18,000-square-foot main house has an open floor plan with walls of sliding glass doors, painted murals, an indoor grotto-style spa and a retractable roof over a 40-foot saltwater lap pool in the grand room, which has accommodated parties of up to 200 people. Glass walls on three sides provide unobstructed views from the bed in the master suite. There are ocean, Channel Island, mountain and valley vistas.

The compound includes a two-bedroom guesthouse, a separate office, an outside pool connected by streams to two ponds, a private heliport and more than 200 avocado trees.


-- Lauren Beale

Thoughts? Comments?

Photo: The home has ocean, Channel Island, mountain and valley vistas. The listing agents are Natalie Grubb of Village Property Realtors, Montecito office, and Wayne Natale of the firm’s Santa Ynez office. Credit: Courtesy of Village Properties

Hot Property: Former home of actress Dorothy Dandridge lists for $3.5 million

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A Hollywood Hills home once owned by Oscar-nominated film star and singer Dorothy Dandridge ("Carmen Jones," "Porgy and Bess") is on the market at $3,495,000.

The restored 1926 Mediterranean has three bedrooms and five bathrooms in 4,368 square feet. There are arched doorways and windows, beamed ceilings and stained-glass windows. The master bedroom suite features a circular bathroom.

The property sold for $849,000 in 1998, according to public records.

There are more photos at latimes.com.

--Lauren Beale

Thoughts? Comments?

Photo: Three terraces with city views provide space for entertaining. The listing agents are Kathy Marshall and Delphine Mann of Coldwell Banker, Beverly Hills. Credit: Jeffrey Ong / PostRain Productions

 

Hot Property: Bret Saberhagen puts Calabasas compound on the market at $3.25 million

Saberhagen 

Former major league pitcher Bret Saberhagen has listed his gated Calabasas home for sale at $3.25 million.

The renovated and rebuilt compound includes a 5,600-square-foot, single-story Tuscan-style villa and two guesthouses. The main house has a home theater with a 90-inch screen and eight recliners, a wine cellar that can seat 12, five bedroom suites and six bathrooms. Outdoors there is a cabana with a fireplace and flat-screen television, a swimming pool with spa, a wet bar and a putting green.

Saberhagen, a two-time Cy Young Award winner, grew up in the San Fernando Valley and went to high school in Reseda. He went on to play for the Kansas City Royals, the New York Mets and the Boston Red Sox. Among his many awards, he was named American League Pitcher of the Year in 1985 and 1989.

“I moved back in 2002 after I finished my baseball career,” said Saberhagen, who plans to stay in California but would like to move closer to the ocean.

His compound is about a 10-minute drive from the beach and the freeway, he said, and sits on a long dead-end street with no street lights. “So you always have plenty of stars and moon at night.”

The home, originally built in 1969, has mountain views and room for stables and horses.

“I also love to entertain,” said Saberhagen, whose in-home sports bar is equipped with five TVs.
 
Saberhagen, 45, was inducted into the Kansas City Royals Hall of Fame in 2005. Today, he runs the Bret Saberhagen Make a Difference Foundation, which benefits children with diabetes and debilitating diseases.

There are more photos -- including one of the five-screen sports bar -- at latimes.com.

-- Lauren Beale

Thoughts? Comments?

Photo: The Saberhagen compound encompasses 1.2 acres. Jim Pascucci of Rodeo Realty, Calabasas, has the listing. Credit: John Turner

 

Hot Property: Holmby Hills estate sells for $13.2 million

Linkletter
A 1937 estate in Holmby Hills owned by radio and TV host Art Linkletter in the 1950s, Oscar-winning composer Henry Mancini in the 1990s and former Hollywood Park owner Marge Everett until 2005 has sold for $13.2 million.

The Georgian-style traditional house includes nine bedrooms and nine bathrooms in about 12,000 square feet. The gated two-story has a formal entry with a sweeping spiral staircase, a paneled library with a hidden door to the wine cellar, a 50-foot-long screening room and staff quarters.

The 2,500-square-foot master bedroom wing contains a sitting room, his and hers bathrooms, four of the home’s eight fireplaces, a sauna and a terrace overlooking the grounds.

The remodeled property originally came on the market in May 2008 at $27.5 million and previously sold in 2006 for $10.25 million, according to public records.

There are more photos at latimes.com.

--Lauren Beale

Thoughts? Comments?

Photo: The house sits on about three-quarters of an acre with a front motor court, a swimming pool, a spa and a two-bedroom guesthouse. Jeeb Naiman O’Reilly of Hilton & Hyland, Beverly Hills, and Stephen Resnick of Westside Estate Agency, Beverly Hills, had the listing. Eric Hassan of Coldwell Banker’s Beverly Hills East office represented the buyer. Credit: Adrian Anz

 

Hot Property: $65-million listing in Malibu

Malibuestate 

A 37-acre Malibu estate that has come on the market at $65 million is the most expensive listing on the Multiple Listing Service in the oceanside community. Only a  few Los Angeles-area residences for sale are priced higher.

Rocky Oaks Estate consists of a nearly completed Tuscan-style home, a 9,500-vine vineyard and pads for a potential helicopter landing site, guesthouse and guard gate. Its surrounding hillsides are filled with about 75 citrus trees, 50 fruit and nut trees, 100 avocado trees, 100 olive trees and more than 500 rosebushes.

Designed by architect Bob Easton, the 9,000-square-foot residence is approached from a 350-foot-long gated driveway and has a large motor court. When completed in the spring, it will have five fireplaces, tongue-and-groove and exposed-beam ceilings (including one in the living room reaching 32 feet high), elevator access to all three floors, and a rooftop observation deck. The five-bedroom, five-bathroom house will be clad in limestone.

There will be 5,000 square feet of decking, an infinity pool with spa and an outside loggia as well as a wine-tasting room. Malibu Rocky Oaks produced its first wines in 2006.

The owner, a businessman, was building the estate for himself but decided to sell it instead, according to listing agent Sally Forster Jones of the Coldwell Banker Beverly Hills East office.

There are more photos at latimes.com.

--Lauren Beale

Thoughts? Comments?

Photo: Perched on a ridgeline, the house has 360-degree views. Credit: Everett Fenton Gidley


 

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