You Think Chautauqua Lake Real Estate Is Expensive

Small London Closet Costs More per Square Foot than Most Expensive Homes in US

(Dallas, TX - January 26, 2007) - A 77-square-foot apartment, converted from an unused closet with no electricity or heat, has just entered the British real estate market with an astonishing asking price of $335,000. Located in an exclusive London neighborhood, home to England's royalty and social elite, the square footage price is in line with the values of surrounding homes. However, how does the small apartment's asking price of $4,340 per square foot compare with luxury properties across the US?

"The London apartment's square footage price is almost twice that of the most expensive home currently for sale in the US," said Laurie Moore-Moore, Founder of The Institute for Luxury Home Marketing, an international organization which trains real estate professionals who work in the upper tier market. "An Aspen, Colorado estate which was recently listed for sale at $135 million by Prince Bandar bin Sultan is currently the most expensive residence for sale in the US today. This mountain compound is priced at $2,410 per square foot. That price includes stables and 95 acres in an exclusive Rocky Mountain resort area. By contrast, the London property's amenities include two hot plates and a fire escape."

Real estate in the US is still a bargain relative to some international locations. If you prefer waterfront property, a sprawling mansion in Austin, Texas sits on more than ten acres on Lake Austin, just a short drive from the state's capitol. Priced at a mere $850 per square foot for a total of $13.5 million, this property the priciest in town—includes a guest house, boat house, airplane hangar, vineyard, and 200-year-old pecan trees.

For billionaire bargain hunters who prefer to forgo waterfront views for the painted beauty of Arizona deserts, the most expensive home in Tucson offers a more affordable square footage price of a mere $629 for a total price of $19.5 million. Sitting in the foothills of the Catalina Mountains, this 31,000 square foot luxury bargain sits on 20 acres, backs up to the Coronado National Forest, and overlooks the entire Tucson Valley.

"These homes are all top of the line in terms of building materials, artistic design, and stunning views," said Moore-Moore. "The difference in pricing can be largely attributed to location, location, location. At these price points, pricing is less about the square footage and more about lifestyle and of course, supply and demand."

For more information on Chautauqua Lake Real Estate & Living visit: www.chautauqualakehomes.com