HOME & DESIGN Magazine Late Fall 2013

LUXURY HOMES | REAL ESTATE REPORT BY THE NUMBERS Youth Movement Notable Listing T he 112-year-old, Stanford White-designed white-marble Patterson Mansion is on the market for the first time in 50 years. Once owned by Eleanor “Cissy” Patterson, this Dupont Circle abode was a social center during the early 20th century. In 1927, the Coolidges resided here while the White House was under renovation, and Charles Lindbergh was welcomed here following his solo transatlantic flight. The 36,000-squarefoot house encompasses four finished levels and includes seven bedrooms, five full and seven half baths, a ballroom, an elevator and 18 fireplaces. $26 million. INQUIRIES: Jonathan Taylor, 202-2763344; Christopher Ritzert, 202-256-9241; or Christie Weiss, 202-256-0105 with TTR Sotheby’s. PHOTO © SEAN SHANAHAN A new survey by Coldwell Banker Previews International and the Luxury Institute finds that among Americans with a minimum gross income of $250,000, 43 percent under 55 are considering a residential property purchase in the next 12 months compared to 21 percent aged 55 and older. Also, younger buyers spent an average of $2.1 million on homes, approximately twice that spent by older buyers. Low Inventory There are 72 percent fewer active listings in the entire DC Metro area than there were five years ago, but the rate of decline is shrinking. Active listings in September 2013 were down 9.7 percent from August 2012 and down 1.1 percent from July 2013—an improvement over the doubledigit percentage decreases the market was seeing prior to 2012. $22 DC Overvalued Washington, DC, is the fifth most over-valued real estate market in the country, according to forbes.com. Homes in the region are currently selling for 54 percent more than during the inflation-adjusted era of the 1990s. MILLION The price tag for two landmark buildings and a chauffeur’s residence on S Street, NW, ]?]?H?Y[???X?[?Y?\]X[???]X\?H?Y]????L?QH?ST??X?B??Y?\????]K?]B?? K??H???Y]????\?[????? ?L?[\[?[?B???]\?KQ??? ?LL?L[??[???Y???[??]?[KQ??? ? K ??Y[?H[?B???]\?KQ??? M?KLL??\Y?]H??Y????XX?Q??? LML??X[?XHZ[??Y???[??Q??? ?K MNML?????[??[H??Y]??X?X[??B?????L?Y][????Y]????\?[??????ML?L ???????\??H??Y????[???Z[Q???ML H?[X\???Y??????[KQ??S?S??QT????QB????[?Y?B???YZ???B???Z???B???H??\??Y\??[XZ[?[???]???[?Y?KH??[][?]H????Y\??]?Y[??[??]??[?B?[\?Y\??X?Y] K?H[? K?HZ[[?\?H???Y\?\?H\??B?\?H[???\Y??[][?]HZ[?]\????H?^H??Y?K?H??[][?]x?&\]Y?\?H[?[?YH\?H??][YB??SH]?\?]?[??\????N?L? ???[?Y?]?????B???YZ???H??[][?]Y\?\??Z[[???\??H?Y\?[??X]?[???\??[?XK?H?]?XX?Z[\?[??[??]?H??]?H?\?\????H[???]?KXX?H???X[?H?]X\?H\?B??]?KZ?YH??[][?]H?]?H??Y??[?H?]?KXX?H?\?]?Z[X?B??[?\???[??H??Y]?X?????H??XX??]?\?? ??M?M?M?L??YZ???K???B???Y?X\???Y\??&H?Z???H?\?Y[??\??[?[^[??XH[??]?K????\?]??L?L?\??]?]K?[YK\?X???[][?]H??]?[?[?XX?H\?]\???\????X[?X??X??\??]X?\?K?YKX?\??\?Y?\??[?Y?[?\?Y\????????[?[X??]H]Z[[????Y??]?????H???B??YH[?[??]\??^?Y???\?[??]?[?[?H[??]???L??LM??Y?X\???Y\???K??Z???B??????SP?T??P?SP?T??L?8?(??YX[?\?Y????B??^\?[?????L?MK?L?L??MHB??

HOME & DESIGN Magazine Late Fall 2013 | Page 204