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Posted by Darius at 10:26 am on Saturday, April 5th, 2008
Home prices continue to decline to record lows, according to the Case/Shiller Home Price Index, but the number of units selling is rising, says the National Association of Realtors.
Here are three high-end homes for sale.
Place/Price: Northville, Mich. / $1.7 million
Taxes: $18,000
Property: 4 bedrooms, 5 ½ baths, 7,000 square feet
Description: The brick home has a first-floor master suite with a bay window, window seat, walk-in closet and a two-person shower. The lower-level has a built-in bar and home theater and 2,000-bottle-capacity wine cellar.
Notable: Prices in the Detroit area dropped 15.1% from a year prior and are down 3% from January to February. Tampa had a similar decline of 15% from a year ago and 2.7% from January to February.
Place/Price: Scottsdale, Ariz. / $1.85 million
Taxes: $7,000
Property: 5 bedrooms, 4 ½ baths, 4,922 square feet
Description: This three-car garage home has exposed adobe brick walls and there are three fireplaces. The master suite has a beverage refrigerator and a coffee bar. There is a heated pool and spa, and a covered patio.
Notable: The Index shows that 10 of the tracked markets posted double-digit price declines. The Phoenix area, with an 18.2% decline came in second behind Miami and Las Vegas, which tied for first with a 19.3% decline.
Place/Price: Los Angeles, Calif. / $4.3 million
Taxes: $53,687
Property: 4 bedrooms, 5 ½ baths in, 5,000 square feet
Description: This home with an open floor plan has a formal living room. There is a gym and a media room. There is a wall of glass, a swimming pool and a guest house that can be used as an office.
Notable: Los Angeles had a 16.5% price decline, which is comparable to San Diego’s 16.7% decline. Charlotte is the only tracked metro area that did not show a decline. Prices there increased a modest 1.8%.
Note: The property taxes are estimates. Sources: standardandpoors.com, realtor.org, tuscanyreserve.net, fhpbuilders.com, architectural-estates.com
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