In 2006, we reported that Candace Spelling, 63, and widow of the later Aaron Spelling, was shopping for a $150 million buyer for her Holmby Hills home:

….Candy Spelling, widow of the late Aaron Spelling, has quietly put their legendary 56,000 square foot, 123-room Holmby Hills mansion on the market for $150 million. Sources say the Westside Estate Agency (WEA) has the pocket listing and that the property is being discretely shopped among Realtors and their potential buyers.

It is now, at last, officially listed for sale.

Built in 1991, nobody has an exact count of rooms in the Spelling Manse these days–including the listing Realtors. Among the more luxurious, though,  are a bowling alley, wine cellar and tasting room, a humidity-controlled silver storage room, China room, gift-wrapping rooms, library, gym, media room and one of Spelling’s enduring entertaining favorites: The screening room, where the projection screen emerges from the floor at the same time windows are automatically shaded.

The Spellings also finished off the home’s substantial attic and had a barber and beauty salon installed.

The servants’ quarters alone feature a large kitchen, 7 bedrooms, 5 fireplaces and 4 wet bars.

Outdoors are 18th century gardens and citrus orchard, swimming pool and spa, reflection pool, waterfalls, and spacious pool house with a kitchen.  Additionally, there are 16 car ports and room for valets to park over 100 cars.

This luxurious mansion sits on 4.6 acres, is a neighbor to the Los Angelese Country Club –and is the largest home in Los Angeles County.

Where will the owner move once the home is sold? Candy Spelling has already purchased a $47 million 2-story penthouse that crowns a residential tower in downtown Los Angeles.

And yes, I would love to represent the buyer for this property!

The post Spelling Mansion “Officially” for Sale appeared first on Luxury Home Digest.

Luxury real estate gossip the last few months has fluttered around topics like the sale of Donald Trump’s Palm Beach mansion at $100 million (when it had been listed for $125 million), the pending foreclosure of Ed McMahon’s Beverly Hills home, and the F-word in luxury real estate (foreclosures).

These days, recession is the hot topic as brokerage accounts have been bloodied, home equities have declined, and credit cards are filling up with gasoline charges. It’s no wonder that it’s now fashionable to talk about frugality. And these discussions are leading to real changes in lifestyle.

Some very random observations and sensible advice:

1. Hybrids are the cool cars. Gasoline guzzling Beamers and Mercedes are being traded in for fuel-sipping and leather-seated hybrids. In some areas, there are wait lists of months for the Toyota Prius.

2. Have adjustable rate mortgages on your home or other properties? You may want to consider financing that will carry you through the financial storms ahead. Values are slipping in many luxury real estate markets–and appraisals may become problematic in the year ahead. Just my opinion, of course.

3. Are fewer Americans traveling to Europe? We’ve known several who have canceled European holidays and are traveling locally–or to Asia instead. Nobody wants to spend decimated dollars in a in a Euro-pumped economy. US dollar exchange rates against the Chinese Yuan are far more attractive.

4. A bright note in the economy are the number of Europeans, Canadians and others who are coming to the United States to shop not only Neiman Marcus and Chanel, but to spend those Euros and Loonies on prime US real estate. Homes in San DIego, Palm Beach, Scottsdale and Las Vegas are phenomenal bargains when purchased with these foreign currencies.

5. A number of affluent baby boomers are scaling back. They are aiming to trade their large suburban homes for something smaller, something single level, and something that is in walking distance to beaches, golf, restaurants, and mass transit. Trains, in particular, have captured the fancy of many,

6. This is only buzz, but I am hearing that many are dropping and/or selling country club memberships–and that there are reportedly thousands for sale in golf heavens like the Palm Springs area. Any other information out there?

7. More people appear to be dining at home. In the La Costa area where we live, both Tommy V’s and Sushi on the Rock have shuttered their doors. These were bustling restaurants just a year ago. It is likely a scenario that repeats itself throughout the country. And is it just my imagination, or do the local farmer’s markets seem to be busier this year? Perhaps people are rediscovering the utility of their own lovely kitchens.

Somehow, I think there will be future articles and lots of discussion on frugality in our lifestyles.

After all, consider the real estate and stock market bargains that might be bought with the money saved….

The post The Luxury of Frugality appeared first on Luxury Home Digest.

Upon first seeing these beautifully-designed solar panels, I couldn’t help but imagine other applications and modifications for the green lifestyle–whether it be in the luxury home, a school yard, a country club or off-the-grid project.

Imagine these cobra-shaped shades as swiveling solar panels that take the place of outdoor umbrellas around the pool. Or as bus stop shelters or airport curbside check-in. The possibilities are endless and scalable.

And these VEIL Solar Shades or solar panels are interactive to boot. Indicators on the base show which positions will yield the maximum energy collection at given times of the day. And underneath the shade is an LED feedback system that indicates whether the shade is getting enough sunlight or not–and whether the shade should be turned.

Designed by the Australian design firm Büro North and the the Victorian Eco-Innovation Lab, the VEIL Solar Shades blend form and function elegantly.

Your ideas for implementation? I can imagine them poised around a pool at home!

Tip of the top hat to Josh Spear.

The post Solar Panels for the Green Luxury Home appeared first on Luxury Home Digest.

Who are these young and ultra-affluent buyers of homes in Rancho Santa Fe, Palm Beach, La Jolla, Aspen and Manhattan?

Robert Frank, in his best-seller Richistan, calls them instapreneurs (didn’t he coin the term?).

These are the new titans in technologies, who have benefited from a rise in financial speculation and governments that support free trade and wealth.

Instapreneurs are not plodders when it comes to accumulating wealth. They don’t develop companies to last for family generation; rather, they may launch several companies over their career life spans. And the goal for each venture is a lucrative “exit strategy” that will create the fattest windfall possible.

What are these luxury buyers seeking when searching for their trophy home?

1. They are specific in their demands as to age of property, views, room volume, luxury closets, privacy, and entertaining areas.

2. Instapreneurs often wish to be near prestigious country clubs, where they can golf, play tennis and entertain business elite.

3. In San Diego, many of these nouveau uber-wealthy demand ocean frontage, ocean noise–and silent streets. Or the highest penthouse in downtown San Diego. The want what is rare, what is singular.

4. Instapreneurs often have children, and are concerned about the quality of nearby and private schools. How the home works for the kids can be of keen importance. Instaprenerual parents want safety, space and room for kiddie galas.

5. These luxury home buyers often have special room requests, such as a library, multiple offices, servant quarters, guest houses, snoring rooms, home gyms, massage rooms, a conservatory or even a panic room.

6. These busy people often demand to be not far from a major airport because of frequent travel demands and the desire to minimize time spent away from families.

We enjoy working with these interesting folk, not just because we enjoy finding perfect property fits, but also because of the stories we get to hear. Some have been scientists, some movers and shakers in technology, and some who just had the courage to pour everything they had into an idea whose time had come.

They all inspire and the world is a better place because of these producers.

The post Nouveau Luxury Home Buyers: Instapreneurs appeared first on Luxury Home Digest.