The Associated Press is reporting that pop star Michael Jackson has transferred the deed to his Neverland Ranch in Los Olivos, Calif., to a company he partly owns. Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital LLC bailed him out earlier this year by purchasing his loan. On Monday, Jackson transferred the title of the ranch to Sycamore Valley Ranch Company LLC. But Jackson may effectively still own the property, since Sycamore Valley Ranch is a joint venture between Jackson and an affiliate of Colony Capital. See the AP story here.

Chicago’s North Shore is a great place to live for a number of reasons, ranging from the proximity to the city and cultural events to activities on or around Lake Michigan. But for many families, it comes down to community and schools. And it might be tough to find a place that better exemplifies the ideals of a close-knit society and values of education than Winnetka.

Winnetka’s role in progressively advancing school curriculum dates back more than a half century. Carleton Washburne, the district’s superintendent from 1919 to 1943, was the architect of innovative programs that focused on individualized instruction, hands-on learning and social development. His work was known as “The Winnetka Plan,” but has been widely incorporated by schools across the nation. Winnetka also was home to one of the country’s first nursery schools in 1929.

The community’s commitment to its young people can also be found in the nonprofit Winnetka Alliance for Early Childhood Development, which promotes the healthy growth and development of children up to age eight. Its member organizations include public, private and parochial schools in addition to childcare programs.

Nearly 50 percent of the households in Winnetka have kids under the age of 18, with the majority of children being in grades one through eight. It is a “Leave It to Beaver”-type community, where youngsters can get to school on their own. 

Winnetka gets its name from an American Indian word for “beautiful land.” It is that, and much more. Just ask any family that lives here.

—Steve Hudson, The Hudson Company

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Carlisle, Lincoln and Concord—located amidst the picturesque landscape that inspired Ralph Waldo Emerson and Henry David Thoreau—continue to be among the most desirable upscale communities in Greater Boston, just northwest of the city. All of the attributes that contributed to this area’s prominence—traditional architecture, a strong sense of community, highly ranked schools, and quaint commercial districts—continue to drive the luxury market today.

As gas prices rise and people become more environmentally conscious, close-in locations are becoming increasingly popular. Buyers also love to be able to move right in without enduring lengthy renovations, so when you pair new construction with proximity to shopping, dining and commuter train stations, it is a winning combination. Currently offered are some newly constructed homes with 3,500 to 4,500 square feet of high-end finishes close to Concord’s town center, priced at less than $1.5 million. Lot sizes are more modest than the area’s typical half-acre minimums, but the benefits of having so many amenities within walking distance more than compensate for the concession.

These homes are designed with the same New England Colonial architecture that is a trademark of the region, and the charm of Concord’s downtown is a major draw. Although our market has fared better than most of America, this is the perfect time to be looking for any luxury home in the area, because inventory remains plentiful and sellers are motivated to accommodate buyers’ needs.

—Laurie Cadigan, Barrett & Company Real Estate

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The picturesque and quintessential New England coastal towns of Cohasset and Hingham are best known for the natural beauty of their ocean- and harbor-front properties, and for their well-kept Colonial and Victorian-style historical homes, which share space with modern architectural styles. These towns provide year-round vacation living 19 miles from Boston.

The Cohasset and Hingham real estate markets have not suffered to the extent that the national and state markets have. These are upscale communities and there have been few foreclosures. It’s a great time to buy, and if you’re willing to accept the realities of the new marketplace and price your home accordingly, it’s good time to sell.

Well-advised sellers have readjusted their asking prices to a level that is probably 15 to 20 percent lower than where they were on average two years ago. This presents a remarkable opportunity for the savvy buyer. In other words, if you are selling your $700,000 house for $600,000, but you’re then buying a $2.8 million home for only $2.3 million, your proportionate savings are substantial. You’re getting $100,000 less for your $700,000 house, but you’re also saving about $450,000 on your $2.8 million purchase, so it’s a significant benefit for people who are moving up. People that have owned their houses for more than three years are not going to be able to sell them for as much as they might like, but they will be able to sell them, make some profit and then trade up at a large savings. 

Two recent oceanfront examples: a home on Atlantic Avenue came on the market at $3.5 million and sold for $2.2 million; similarly, a $3.9 million home on Jerusalem Road sold for $2.3 million.

—Tom Hamilton, Dean & Hamilton Realtors

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Singer Island, located just north of ritzy Palm Beach, has emerged as South Florida’s newest “in” spot, fueled by world-class water sports, golf, shopping and dining. Currently, buyers are drawn to two spectacular developments—The Resort at Singer Island and 2700 North Ocean—that fully embody the island’s luxury lifestyle.

Baby boomers view retirement on Singer Island as a reward for a lifetime of hard work up north. But unlike their parents, they have no intention of slowing down and therefore welcome the more cosmopolitan amenities at these two developments. I personally live at The Resort and never tire of the island’s sunrises, which are even more mesmerizing than on the mainland.

The Resort consists of 239 hotel suites and 66 private residences ranging from $500,000 for a 750-square-foot, one-bedroom unit to a lavish 6,100-square-foot penthouse priced at approximately $5 million. Homeowners enjoy the hotel’s amenities and receive discounts at its restaurants. In addition to snowbirds, some Floridians buy condo-hotel units for occasional weekends on Singer Island.

A major attraction of 2700 North Ocean, a pair of gleaming towers containing 242 sky homes, is its walking distance to premier shopping and dining at Ocean Mall, currently under construction. Prices here begin at about $1.1 million for a 1,700-square-foot unit to $7 million for 7,200 square feet with sophisticated finishes. Both developments offer unbeatable beach locations with breathtaking views, luxurious contemporary style and generous on-site amenities—and someone else maintains the grounds and pool for you!

—Dermot O’Brien, Illustrated Properties

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During my 15 years as a resident of Barefoot Beach, I have realized that it is one of the most beautiful beach settings in America. The gated 460-acre community is located between Naples and Fort Myers and is a paradise for anyone who enjoys waterfront living and activities.

Barefoot Beach residents enjoy magnificent views of the turquoise waters of the Gulf of Mexico, not to mention spectacular sunsets. With improvements that include the additions of new brick pavered streets lined with 250 royal palms, plus a new guardhouse and gatehouse, it continues to enhance its standing as one of the finest coastal communities in Southwest Florida.

There are six distinct settings, all luxurious yet casual, that can appeal to any lifestyle. You can choose from beachfront family homes situated on 11 tropical beach gardens, or two bayfront areas with single-family homes and beach and boating access.

There are low-density bay- and gulf-front condominiums and three-story attached homes with views of the water. There is also an intimate area of 16 three-story homes directly on the gulf.

If that weren’t enough, the private member-owned “Club at Barefoot Beach,” located on 8 acres of pristine beach-to-bay land within Barefoot Beach, features amenities that include a heated swimming pool, casual and fine dining, an open-air bar with food-and-beverage service at the beach and pool, plus tennis courts and boat docks.

Take it from someone who knows—one visit and you’ll never want to leave.

—Barry DeNicola, Barry DeNicola Realty

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Imagine a place that evokes the charm of small-town living combined with the cultural benefits of the big city and the allure of the remote, peaceful wilderness.

If you have trouble imagining all those characteristics existing in such proximity, let me invite you to the Lake Keowee-Clemson region of South Carolina to discover such a place.

The northern tip of Lake Keowee is home to two communities, The Reserve and The Cliffs, nestled in the foothills of the Blue Ridge Mountains. Both offer world-class golf and amenities, and with 350 miles of shoreline surrounded by nearly a half-million acres of undisturbed forest, the region provides a bounty for anyone that enjoys the outdoors.

Abutting Lake Keowee to the north is Lake Jocassee, where 95 percent of the shoreline is protected from development. The area is home to the largest vertical drop waterfalls east of the Mississippi.

Clemson is just miles away, and the university town provides an abundance of cultural and sporting events. One moment you can be alone fishing, swimming or hiking, and in the next you can be with 100,000 people tailgating prior to a football game. I grew up in Ontario, and the only thing to evoke as much passion as Clemson athletics is when Canada plays the Russians in hockey.

If that weren’t enough, the city of Greenville is just 45 minutes away.

I’ve seen the wilderness of northern Ontario. I’ve lived in cities such as Toronto and Cincinnati. I’ve never seen anything like Lake Keowee. There is a greater variety of activity here than anywhere else I’ve been.

It really is a one-of-a-kind paradise.

—Bruce May, Jocasse Real Estate

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Throughout history certain people have had itchy feet – those folks always curious about what is hidden around the next bend in the road, or wondering what lies over that far hill? But, what about today? Where do such adventurers go?

In 2002, the AARP named Boquete, Panama as the top foreign retirement destination. Thirty minutes below Costa Rica and 30 miles from the Pacific Ocean, Boquete is in the mountain cloud forest where the climate is spring-like year-round. It’s a thriving town, likened to Aspen 25 years ago, with a lively expatriate community, pharmacies, groceries, health clinics, spas, Internet cafes, and restaurants with international cuisine. Life is laid-back and prices are, by any comparison, cheap.

For $585,000 you can buy a luxury-remodeled house, with a master suite occupying the entire top floor. There are current new high-end homes on sale for $350,000, with views of both the ocean and Baru Volcano.

Valle Escondido, a gated golf community, offers homes and condos, from $250,000 up. Exclusive Boquete Country Club combines world-class leisure facilities, a state-of-the-art equestrian center and breathtaking vistas. Lots are still available for $50,000. In Cerro Verde, fabulous pre-construction lot/house packages are for sale for less than $260,000.

If Boquete is a future Aspen, then the nearby alpine village of Volcán is comparable to Vail. Here, wide-open spaces beckon. And for those adventurers looking for prime beach property investment, check out Puerto Armuelles, a coastal city with deep-water port facilities, where lots start as low as $15 per square meter—equivalent to a half acre for only $30,000.

Harry Hunt, Own Boquete Real Estate

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