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Luxury Real Estate News and Information - Christie's International Real Estate

Thursday, April 18, 2013

Florida Residence of the Late Pop Singer and Disco Diva, Donna Summer, Sells for US$2.85 million




Michael Saunders & Company represented the buyer

A waterfront residence on Manasota Key that sold last Friday for $2.85 million was the Florida home of the late pop singer and song writer, Donna Summer. Ms. Summer died in Naples Florida last May.

Originally listed for US$3.2 million, the home was only on the market for 71 days before being placed under contract in February.

Summer, who rose to music prominence during the disco era of the late 1970’s, was the first recording artist to have three consecutive double albums reach number one on the United States Billboard chart. Additionally, she charted four number-one singles in the United States within a 13-month period.

Ms. Summer will be posthumously inducted into the Rock & Roll Hall of Fame at a sold-out ceremony to be held in Los Angeles on Thursday, April 18.

The waterfront estate, which is located in a private, gated enclave at 802 North Manasota Beach Road, was sold to clients represented by Maryann Casey, an agent with the Englewood office of Christie's International Real Estate exclusive Affiliate Michael Saunders & Company. It was listed by Nelda Thompson & Associates.

“The buyers, who live in Atlanta, were unaware that this was the home of Donna Summer,” says Ms. Casey.  “While waiting in Atlanta for a flight to Sarasota they noticed the home on the Michael Saunders web site (michaelsaunders.com) and added it to their schedule of properties to tour. This was the couple’s first visit to Manasota Key and they immediately fell in love with both the home and the key; and bought the property in less than 24 hours.  It was truly a case of love at first sight.”

Ms. Summer, who purchased the home in September 2007, also fell in love with the property at first sight. Built in 1950, the home—which has four bedrooms and baths—has undergone numerous updates, but still manages to maintain its charming Old Florida ambiance. It includes open beam ceilings, a large covered veranda extending across the east side of the home, an open patio overlooking a pool and secret garden on the south side; and a sunning porch on the west side facing the Gulf of Mexico. A boat house and dock are also located on the east side of the property.

Michael Saunders & Company is the exclusive Affiliate of Christie's International Real Estate in Sarasota, Florida.
Tom Heatherman, Michael Saunders & Company, +1 941 955 8200

Friday, April 5, 2013

2013 LUXURY INTERNATIONAL REAL ESTATE PROPERTY MARKET REPORT


Residential real estate is a tale of two markets – luxury and everything else. What are the trends shaping the luxury residential property market?

Luxury Defined: An Insight Into the Luxury Residential Property Market offers facts and insights into some of the most important markets in the world of real estate, and develops the Christie’s International Real Estate Index to measure the relative “luxury” ranking of the cities studied.

Highlights of the 2013 report include:

  • Globally, top-tier property sales achieved record prices in several cities, remaining immune to many of the economic concerns that drive the general housing market.
  • The luxury property market has limited supply. High-net-worth-individuals (HNWIs) are continuing to invest in real estate, often in second and multiple homes.
  • HNWIs are often more inclined to invest in an important global market than in another city within their home country for second or additional homes.
  • Prestige residential real estate values will more likely follow growth trends of non-consumable luxury goods such as fine art more so than the growth trends of the general housing market.
  • Cash transactions have dominated luxury property acquisitions across many studied cities.
  • Recent tax law changes in many of these markets are expected to impact 2013 market activity.
Download the report