SpellingWhen Aaron and Candy Spelling built The Manor, their lavish 14-bedroom, 56,500-square-foot estate in the Los Angeles neighborhood of Holmby Hills, they ticked off a lot of neighbors.

“The Spellings were generally unpopular among their Mapleton Drive neighbors, who watched the French chateau-style mansion slowly take shape over two years, at an estimated cost of $12 million,” Realtor.com explained a few years ago when current owner (and British heiress) Petra Ecclestone bought the home at age 22. “At the time, they described dealing with heavy construction equipment and throngs of curious onlookers.”

In fact, one neighbor filed an injunction against the Spellings that sought to limit the number of construction trucks that came to the property and to require reimbursement for any damage to neighbors’ property.

Before the Spellings began building, they had to tear down the home of another Hollywood legend — Bing Crosby, who lived in a 15,000 square foot (what a shack, right?) mansion from 1943 to 1964.

Ecclestone bought the home in 2011, and briefly placed it on the market in 2016 for $200 million. It was listed again seven days ago for $160 million. (more…)

Turks and CaicosThe Turks and Caicos are hot, but it’s getting harder to sell a house in the Hamptons (good news if you want a deal, though). We also look at the most expensive listing this week, and a home in a certain favorite movie that is now up on the market.

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Looking for Luxe? Turks and Caicos Brings It

Turks and Caicos

Photo courtesy Turks And Caicos Tourist Board

Thanks to strong demand for luxury homes and the popularity of Airbnb and VRBO, Turks and Caicos is becoming quite the demand destination for second-home purchasers who want a safe bet for a relaxing break, Ellen Paris writes in Forbes. (more…)

Sinatra

This gorgeous Malibu view once belonged to Frank Sinatra — and it could be yours for $12.9 million.

Whether you want a beachy retreat or a swank pad you can pick out in episodes of Mad Men, Frank Sinatra hung his hat in two homes that are on the market at the same time, for nearly identical price points.

Malibu Frank’s Way

If Malibu is your bag, the estate at 30966 Broad Beach Road was designed by architect Ted Grenzbach and Sinatra and his wife, Barbara in 1992, and is listed by Leonard Rabinowitz and Jack Friedkin of Hyland & Hyland for $12.9 million. Grenzbach also designed homes for Cher, Rupert Murdoch, and Barbra Streisand.

When the Sinatras lived there, a veritable who’s who of Rat Pack era celebrities visited, from Dick Martin, Jack Lemmon, Gregory Peck, and Dick Van Dyke, and more.

And it’s a beautiful home designed to showcase the ocean views, with an open floor plan and floor-to-ceiling windows. The 5,800 square foot house has seven bedrooms and nine bathrooms.

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Torrance

Photo courtesy Wikimedia Commons

Editor’s Note: Recently, MoneyWise revealed its list of the 40 most frugal and friendly places to retire. In a bid to provide an idea of what housing inventory is available in these cities and towns, we’re taking a look at listings in each of the cities on the list.

Not everyone can spend $1 million or more on a second home, even if it’s with the idea that eventually you’ll retire there. So when MoneyWise’s list of 40 places to retire that are more budget-friendly came out, we were curious — what kind of homes could you find in these towns?

Last week, we looked at the 38th city on the list — The Woodlands, Texas. This week, we look at Torrance, California, and found you could find a great selection well within the mid-$300,000 range to just slightly more than the median price of $600,000.

So why is Torrance on the list? In short, it’s close to Los Angeles, but provides that smaller community feel that some might desire, the publication said.

“If you like the idea of living near Los Angeles but would prefer living in a smaller community, Torrance could be just the place you’re looking for!” MoneyWise said. “This town is home to California’s famous sunny weather and promises easy access to nearby beaches.”

“It’s a little pricier than some of the communities we have listed so far, with a median home value of $600,000,” the piece continued. “Median household income is just below $80,000. With 15 healthcare centers, Torrance is a good place for medical care.”

While we can’t get you amazing views or ocean sightings in this price range (that’s going to cost you a bit more), we do have three options.

LOCK-AND-LEAVE, BUDGET-FRIENDLY CONDO

Price: $369,000

At $369,000, this fully-remodeled condo may be cozy, but it’s also a great lock-and-leave option for snowbirds who prefer the West Coast to Florida or the Gulf Coast.  

A new shower, new hardwood floors, paint, and brand-new stainless steel appliances make this nearly turnkey. Higher ceilings and an open floor plan make great use of the smaller space, and the two bedrooms are generously sized for the square footage. (more…)

 

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California’s coastline has certain towns, as well known as prime wine varietals, with names that have become shorthand for wealth, luxury, golden light fading into soft rose at twilight, and sparkling off the water in the heat of the day. Montecito has drawn celebrities for decades, but what lures Oprah Winfrey, Ellen DeGeneres, and a bevy of executives to Santa Barbara County?

Montecito’s unique position provides a host of microclimates, and some of the most prized real estate isn’t along the coast. Instead it’s above East Valley Road, where a combination of gentle breezes, warm sunshine, and ocean views provide an idyllic setting. In this area you will find the most extravagant estates often boasting exemplary gardens.

Montecito’s reputation as a garden paradise began at the end of the 19th century as the East Coast wealthy began to seek out the restorative effects of a Southern California winter.

A modern example that has a similar appeal to some the George Washington Smith homes in the areas is 710 Picacho Lane. The home was built in 1996 and has been created for modern living with commanding ocean and mountain views.

(more…)