Martha Stewart sold her Westport, Conn., estate for $6.7 million — 26 percent below the asking price.

The four-acre property, known as Turkey Hill, includes a 3,168-square-foot, three-bedroom farmhouse, built in the 19th century, a converted carriage house and a “party barn” that she used to entertain guests. The property also includes a pool and gardens. Records show that Stewart and her then-husband, Andy Stewart, bought the property in two parcels in the early 1970s for a combined $80,750.

Stewart, 65, launched her career in the house, starting a catering business out of the basement more than 25 years ago. She put the property on the market last year for just under $9 million. Earlier this year, she offered the main house on two acres for $4.5 million, though she never cut the price on the full estate. The sale was recorded on June 15. Stewart owns several other properties, including a 153-acre Katonah, N.Y., estate, which she said last year she planned to make her full-time home.

The buyer is a limited liability corporation with Charles G. Berg as its principal. Berg was chief executive of Oxford Health Plans Inc. until the Connecticut-based insurer was acquired by UnitedHealth Group Inc. in 2004. “We’re not planning on doing very much to it,” he says. Stewart “spent 35 years making it beautiful.” Susan Warburg, of William Raveis Real Estate, had the listing.

Mr. Trump shrugged off concerns that a crisis in U.S. subprime mortgage lending, which caters to poor credit risks, would spread to the wider property market, including Mr. Trump's luxury buildings.

"I don't see the subprime problems affecting the higher-end stuff," he said. In fact, he is advising investors that there are now great deals in buying subprime mortgages at a discount and repossessed houses at low prices.

Mr. Trump, 60, said that as he got older, he became more conservative in his borrowing. "I'm the most underleveraged now than I've ever been in my life. I almost feel uncomfortable."

While he would not disclose his debt load, he said it was far below proportional levels of 1992, when his much smaller holdings were carrying $9-billion (U.S.) in debt, including $900-million personally guaranteed by him.

As values plummeted, he became dramatically overleveraged. He denied reports that he was bailed out by his wealthy family, insisting that, while his family provided verbal support, he escaped ruin through the patience of his banks.

Mr. Trump said that his current low-debt portfolio represents a bet that the market will remain somewhat soft for some time. If he is wrong, and the market is about to roll higher, it would be better to have more leverage on his books.

"I think I'm in great shape because I think the market is a little unsettling, I think the war in Iraq is a total catastrophe, I think it's been handled horribly by the President and lot of crazy things can happen."

For the moment, he said, conditions vary widely from city to city. New York and Los Angeles are very strong, he said, while Chicago is "okay," and San Francisco joins Toronto in the weaker category.

He said that two years ago, when the market was at an all-time high, he was telling people not to buy real estate. "Now I'm telling them to do it."

theglobeandmail.com

 

Helen Mirren is hoping to cash in on her Oscar night success after putting her Hollywood home up for rent - at $40,000 per month. The Best Actress Oscar Winner and her husband, filmmaker Taylor Hackford, are renting out the Mediterranean-style six-bedroom home.

Hogan put the 17,000-square-foot (1,580-sq-metre) house near St. Petersburg up for sale in June after his family bought a $12 million home in Miami Beach to film the third season of their reality show "Hogan Knows Best" for cable channel VH1.

Hogan told the St. Petersburg Times he and his wife, son and daughter had decided this month to move back to the mansion in Belleair, north of St. Petersburg, now that taping is over.

Like much of the U.S. residential real estate market, the Florida market is in a slump after years of record sales.

The mansion has five bedrooms, eight bathrooms, a pool and waterfall, a guest house, a boat house, maid's quarters and a four-car garage. It is on the Intracoastal Waterway with access to the Gulf of Mexico.

The property features stunning views of Central Park and includes a luxurious film theatre, installed by movie mogul Weinstein before the couple divorced last year. The star, 63, will share the property with his wife of nine years, Grace Hightower.

Among his new neighbors are Sting and his wife Trudie Styler, who own the apartment directly below De Niro's.

Leonardo DiCaprio says he is buying a new home for his mother.

"I'm purchasing a new place for my mother, but it has to be more than 1,400 square feet," he told the New York Post's Page Six.

DiCaprio also inked a deal for a $5 million penthouse in Hudson Blue, a new development under construction in Greenwich Village.

Hollywood couple Brad Pitt and Angelina Jolie have been travelling around the world doing charity work, making the world a better place to live in, but until recently it wasn’t sure as to where they intend to make their own home.

And now comes the news that the ‘Mr. and Mrs. Smith’ co-stars are reportedly planning to spend up to 30 million pounds on a luxury home in the English countryside.

The superstar couple, who have three children, are reportedly interested in a development at the Somerford Keynes estate in the rural Cotswolds region of the country. “A deal could be close,” the Sun quoted a source as saying.

zeenews.com

"But it really is one," the developer protests. "We've got the turrets and all. I'm a stickler for detail, and I don't like doing things in half measure."

Castle ownership isn't for everyone, what with the heating costs, potential for plumbing problems and general conspicuousness of the structures. Gaylord's home isn't an ancient stronghold--he only recently put the finishing touches on his Elizabethan-style castle, which occupies a couple of the 170 acres at Camelot, a themed development he created in Durban, South Africa.

There is a surprising range of castle options to choose from these days. They can be age-old or spanking-new, in New Jersey or South Africa, and have turret-high or relatively affordable prices.

In fact, depending on the exact location, the size and the level of restoration, smaller castles can be purchased for as little as $1 million--easily the cost of a two-bedroom condo in Manhattan. Slightly grander castles will fetch somewhere between $2.5 and $5 million, says castle expert Alexander V.G. Kraft, chief executive of Sotheby's International Realty France.

He teases his American friends: "Why don't you sell your garage in London or New York and buy a castle in France instead?"

Of course, the price tags can be much bigger for historically significant, fully restored properties, particularly if they come with vast amounts of land. Consider the 10,000-plus square foot Villa Castiglione in Capri, Italy. Resting on nearly seven acres perched on a cliff above the sea, the seven-bedroom Camelot is currently on the market for $38 million.

Kraft estimates that a few hundred castles are up for sale around the world--often quietly, to protect owners' privacy.

And what qualifies as a castle has altered over time. During the Middle Ages, a castle was specifically a fortified structure, largely built to defend nobles against hostile intrusions. Today, the term encompasses a broader range of ornamental homes, from manors to mansions to chateaux.

According to Kraft, France, England, Italy and Germany have the hottest castle markets. But the U.S. is home to a host of 19th and early 20th century homes inspired by the antique examples across the ocean. Take Singer Castle, aptly named for its original owner, Frederick G. Bourne, president of the Singer Sewing Machine Company, in Alexandria, N.Y. The five-story, 28-room castle, now on the market for $22 million, was completed in 1905 and features secret passageways, hidden entrances and a dungeon.

And now, there is a modern castle industry. Roger DeClements says his Idaho-based firm, CastleMagic, has already constructed four castles and has two more in the pipeline. Though he has had some interest from overseas, his inquiries typically come from wealthy types looking for a unique place to call home--or members of the Society for Creative Anachronisms, a medieval reenactment group.

While the castles no longer need to serve their original purposes of keeping out marauding hordes or providing spots from which to pour boiling oil, his clients demand all of the stereotypical castle features. "You know, the secret passageways, the large towers, the drawbridges," DeClements says. "They're looking for everything that Hollywood has drummed up from them."

That is, everything except the old-world drawbacks--drafts, leaks and plumbing problems among them.

"It is not unusual to find a castle that offers 40 or more bedrooms, but only two bathrooms, and has central heating in only one inhabitable wing of the castle," says Sotheby's Kraft. "Most castles were built on a rather grand scale several hundreds of years ago when the lord of the manor had a staff of at least 20 people to run and maintain his property."

Rene Palsenbarg, president of commercial properties at Sotheby's International Realty Canada and broker for the Singer Castle, echoes, "Certainly the maintenance and the upkeep can be a downside. They're older, their systems are older." He adds, "It's like buying any old house--you have to go in with both eyes open."

But for some, the hankering for beauty and history outweigh the risks, says Thierry Journiac, founder of Switzerland-based TerraCognita Estate Solutions. "Due to their character, their uniqueness and their location--most of the time in the countryside--castles also represent a way of life."

While the real estate market seems to be slowing for luxury properties in general, brokers argue that the market for unique homes steeped in history--not to mention beauty-- functions independently.

"For many people, owning a real castle is a lifelong dream, and once that dream is eventually fulfilled, normal market considerations do not necessarily apply," explains Kraft.

Capri, Italy

$38 million

The panoramic view of the Faraglioni di Capri is the real selling point for the 10,000-plus square foot Villa Castiglione. Resting on some 300,000 square feet of Italian soil, the seven-bedroom, five-bathroom villa houses two kitchens, a sizable gallery and a swimming pool. The Capri getaway is accessible for jet-setting types, thanks to its helicopter access.

Listed with Raphael T. Harris Jr. at World Real Estate.

Dark Island, Alexandria, New York

$22 million

Secret passageways abound in this early 20th century castle near the Canadian border. It was originally built for the president of the Singer Sewing Machine Co., Frederick G. Bourne, by renowned architect Ernest Flagg. The five-story, 28-room castle, aptly named Singer Castle, has stone spiral staircases, copper gutters and a castle dungeon. Uniquely situated on one of the St. Lawrence Seaway's Thousand Islands, the property offers two boathouses, a beach and a sizable squash court.

Listed with Rene Palsenbarg at Sotheby's International Realty Canada.

Salsomaggiore Terme, Italy

$12.7 million

Despite a massive restoration, Italy's Castello Scotti maintains its original 12th century splendor. In addition to the castle's courtyard and outer façade, the inner rooms offer frescoes, paneled ceilings and hand-made terracotta and wooden floors. The 30-room castle totals more than 23,000 square feet; the property also includes two minor round towers, which house apartments, a swimming pool and manicured garden.

Listed with Casaitalia International - Luxury Italian Properties.

$11.6 million

Originally built some 500 years ago, the majestic castle was once home to the French royal family. Towers and turrets were added when the property was rebuilt in the early 19th century. Today, the fully furnished castle offers 17,000 square feet of living space, complete with a gothic chapel, grand reception hall and hallway of stained glass. The 100-plus acres of grounds includes several outbuildings, a 22-acre lake and an outdoor pool and Jacuzzi.

Listed with Thierry Journiac of Terracognita Estate Solutions.

Longniddry, Scotland

$9.4 million

In the late 18th Century, an Edinburgh writer by the name of William Mackenzie acquired the Longniddry property, once home to the Earls of Winton, and commissioned distinguished architect Robert Adam to demolish what remained. In its place, Adam built a stone castle. Several centuries later, the castle, called Seton Castle, retains the period detail, with astragal windows, ceiling plasterwork and unique chimneypieces. The four-story principal house and the combined east and west wings total 9,000 square feet. The 14 acres of grounds includes wide lawns, stables and a helicopter pad.

Listed with Savills Edinburgh.

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British director Gabriel Range's Death of a President stirred up a strong reaction even before it premiered at the festival.

The jury of film critics cited the film "for the audacity with which it distorts reality to reveal a larger truth."

Death of a President chronicles the sniper shooting of Bush on October 19, 2007, during a trip to Chicago and the ensuing investigation.

The film blends archival footage of Bush interspersed with fierce anti-war protests and other fictional scenes crafted by the filmmakers.

Actors posing as administration officials and Secret Service agents were digitally grafted into some images of the president and his entourage.

The filmmakers said they chose to use Bush rather than substitute a fictitious president to heighten the authenticity.

The film plays out like a whodunit on a grand scale, tracing the twists and turns of the investigation against the backdrop of the continuing Iraq war, an expansion of the Patriot Act anti-terrorism laws to give federal authorities greater powers of surveillance, and other fallout from the September 11 attacks.

However, the £2million movie sparked controversy in America and the British filmmakers had to be guarded by private security men at the film festival after threats were made on their lives.

The digital offshoot of Britain's Channel 4 network plans to show the programme on October 9.

Oscar-winning film director Sir Ridley Scott has been offered some harsh advice by the interior designer of his house in Hampstead.

Sir Ridley, famous for movies like Alien, Gladiator and Thelma and Louise, employed the services of the expert after deciding to give his £7 million property a makeover.

But the blunt-speaking report by Chester Jones went so far as to dub one part of the house "a joke".

The report containing his advice has been submitted to Camden Council as part of Sir Ridley's application for planning permission to make alterations to the home.

Mr Jones tells the 68-year-old: "There is nothing wrong with traditional interiors but they need to be backed up by owners who have a passion for such nostalgia."

He adds: "The lower ground-floor back entrance hall is a joke, the plasterwork looks like a 1960s Brighton hair-dressing salon. As a first impression of the house, this is not a good one."

His report says: "The planning leaves too many rooms without a clear purpose and the decorations are too traditional, too 'imitation' to be satisfactory."

He tells him shutters or Venetian blinds should be installed instead of "elaborate curtains" and adds: "Let us also banish all the nostalgic bits and bobs."

Sir Ridley has occupied Old Grove House for more than 20 years and lives there with his actress partner Giannina Facio, 50.

The couple want to build a summerhouse in the garden while installing a double garage, relocating a courtyard entrance and remodelling their entrance hall.

24dash.com

Ms. Stone bought the seven-bedroom home for about $11 million in March, but never moved in. According to listing agent Susan Smith of Westside Estate Agency, Ms. Stone changed her mind about the house and decided to sell it. She's asking $12.5 million for the property, which hasn't been renovated since the sale.

The 9,000-square-foot home, built in 1991, sits on about five acres on North Beverly Drive and borders the Beverly Park gated community that's home to stars such as Eddie Murphy and Martin Lawrence. The property features a five-bedroom main house and a two-bedroom guesthouse with media room and gym. Other amenities include a pool, spa, tennis court, wine cellar, 15-car underground garage and a meditation garden surrounded by fruit trees.

Ms. Stone, 48, recently starred in "Basic Instinct 2," which brought in less than $6 million at U.S. theaters, according to the box-office tracker BoxOfficeMojo.com. Last year, Ms. Stone sold her seven-bedroom San Francisco home, which she bought in 1998 with her then-husband, San Francisco Chronicle editor Phil Bronstein, for close to $15 million. The actress declined to comment.

post-gazette.com

Michael Douglas and Catherine Zeta-Jones are searching for the latest addition to their substantial property portfolio.

The celebrity couple already own homes in New York, Los Angeles, Bermuda, Mallorca, Aspen and Wales, but are now on the look-out for another luxury pad in Montenegro.

"Like people collect art, we collect homes. We love architecture. It's like a passion," the Legend of Zorro actress told WENN.

The country is becoming increasingly popular as a celebrity haunt. A source revealed to the Daily Express: "The Crown Prince is helping to turn the area, which is full of baroque palaces and castles, into the next Monaco. As well as the Douglases, he is thought to be talking to the Russian billionaire Roman Abramovich."

digitalspy.co.uk

The actor fell in love with the idyllic islands after filming the "Pirates of the Caribbean" movies there and is now leaving his home in France to live there with his partner Vanessa Paradis and their two children, Lily Rose, seven, and Jack, four.

He said: "We want to spend a lot more time there in the future because it's a completely different way of life. It will be our home base."

However, Depp, who currently lives in France, insists he and Vanessa will divide their time between their new home, the US and France so their children learn about different cultures.

He explained: "We will spend our time in France and in the US, so our children will grow up in both cultures."

Depp - who met French star Paradis while filming "The Ninth Gate" in 1998 - has previously admitted he was happy to turn his back on the US and start a new life in France.

He said: "America is dumb. It's like a dumb puppy that has big teeth, that can bite and hurt you, aggressive."

For more Toronto real estate news, listings and info go here - http://www.torontogreathomes.com

allheadlinenews

“I felt so connected to New Orleans. I had so many friends down there. I actually have a friend who still has a house down there.”

“But all the people who made New Orleans special to me are gone. All the people who you’d say hi to in the stores are all gone.”

“Going back will just be really weird. I still would like to have a place down there, even if it’s a place I end up rebuilding and trying to preserve.”

“It’s going to be really depressing to go back but eventually I will.”

fametastic.co.uk

The Stillwater home owned by Hollywood couple Jessica Lange and Sam Shepard is back on the market for just a smidge under $2 million.

The agency handling sale of the property, where the couple no longer lives, says in the online listing that the Victorian-style home "has been remarkably renovated and preserved."

The home, built in 1892, has a new in-ground pool and guest house and includes "artistically inspired gardens and grounds" and offers "a breathtaking St. Croix River Valley view."

The sellers are asking $1.95 million for the house, which sits on 2.5 acres. It has four bedrooms and 4.5 baths. The couple initially tried to sell the home in 2004 at $3.3 million. By the end of 2005, the price was down to $1.995 million, but it still didn't move.

They raised three children in the house for nine years after buying the former bed and breakfast in 1994 for $415,000.

In an interview early this year with the New York Daily News, Lange lamented the changes she saw in her former part-time home.

"When we first moved to Stillwater, it still felt like a real place. It had a downtown with a hardware store, a furniture store, a clothing store," said Lange, who grew up in Cloquet, Minn.

"Now it's all gift shops and these terrible condominiums," she added. "It was a little town with a great deal of character. Everything gets yuppified, I guess."

Lange told the Daily News that she and Shepard still own a cabin in Duluth.

startribune

easierproperty.com