From the WSJ Real Estate Archives

High-End Homes for Sale
In Three U.S. Locales

by Sheree R. Curry
From The Wall Street Journal Online
April 04, 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.

[Northville, Mich.] 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.

[Scottsdale, Ariz.] 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.

[Los Angeles, Calif.] 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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