Despite the global economic turmoil experienced in 2011, many celebrities were still successful in selling their luxury homes, but not all. Some unfortunately have had to take a hard hit, by millions, on their origional asking price & have been on the market for 4 or more years. My advice is to never to buy the biggest house on the street... lol
Elizabeth Taylor
700 Nimes Road, Los Angeles CA Sold: $8,000,000
Elizabeth Taylor’s home hit the Bel Air real estate market in May as a pocket listing for $8.6 million. Although there weren’t an interior shots of the home in the listing description, the classic Hollywood starlet granted an exclusive interview, with photos of her home, to Architectural Digest a few months before her death. The L.A. Times, among others, says the buyer of the Taylor estate is anonymous, but Real Estalker lists Rocky Malhotra, who inherited his fortune from his family’s company.
Sally Field
3655 McCanany Way, Malibu CA (above)
Sold: $5,650,000
The very private Malibu home of Sally Field, which was completely renovated by the Oscar-winning actress, sold for $5,650,000, according to the L.A. Times. Field bought the 1950s home in 2004 for $4,822,500, and despite median Malibu home values declining 10.5 percent year-over-year, made a little profit. Besides a beautiful home, Field’s three-acre property includes walking trails, a pool, lighted sports court and play area with swing set.
Katy Perry and Russell Brand
4100 Cromwell Ave, Los Angeles CA (above)
Sold: $3,300,000
Although Russell Brand reportedly purchased this piece of Los Feliz real estate for then-girlfriend pop singer Katy Perry as a Christmas gift, neither of them appeared sentimental when they listed the home for sale earlier in May, perhaps we should have taken this as a sign of their soon to be breakup. The 4,706-square-foot estate was built in 1922 and sits on over three acres of property with views of downtown
Candy Spelling
Asking: $150 million
Dubbed the most expensive piece of real estate in the US, the hotel like mansion has out-of-this-world amenites & an exclusive locale.
Ricky Martin's former home
Asking $26.9 million
Ricky Martin, known for his pulsating hits like "Livin' la Vida Loca" and his frost-and-tip-kit-inspired 'do, owned this home from 2004 to 2006, when he sold it for $15 million. Three years later, it's back on the market for $26.9 mil.Martin's former residence is steeped in history. Once the site of a 9,000-square-foot midcentury house owned by Woolworth heiress Barbara Hutton, the property belonged to actor Michael Caine and his wife, Shakira (not the pop singer), from 1976 to 1987, according to SF Gate's 2006 account of Martin's property sale. The buyer before Martin bought the midcentury house and demolished it, building the home that stands today.The new home features 12 baths, a large family room, a gourmet kitchen, a master suite with his-and-hers baths, a gym and four additional bedroom suites. There's also a guesthouse and tennis court on the property.
50 Cent
Reduced: $10.9 million
Bargain basement price? Curtis Jackson III, better known as rapper 50 Cent, listed this home in back 2007 and has been cutting the asking price ever since. He started out at $18.5 million, then chopped the price late last year to $14.5 million. Now, if you love Fitty's house like, er, a fat kid loves cake, you can pick it up for a cool $10.9 million.The rapper bought the home in 2003 for $4.1 million from Mike Tyson's ex-wife, and then proceeded to rarely use it. Though the home's address was initially 48 Poplar Hills Drive, he changed the house number to -- you guessed it -- 50.This huge mansion has a whopping 21 bedrooms and 25 baths, a private lake with gazebo, an indoor/outdoor pool, a gym and a grand media room, all spread nicely over 48,000 square feet of living space.
Barry Manilow
Reduced: $10.9 million
This contemporary beach front home belongs to the singer/song writer. The house has an enclosed backyard, floor-to-ceiling windows overlooking the ocean and a two-story living room with fireplace (perfect for sitting around the fire with your favorite Barry Manilow album and a home frosting kit).The contemporary pad has already undergone some serious price cuts: it started out on the market at 12.6 million and is now priced at $10.9 million.
Joan Rivers
Asking: ??
Joan's New York 5,190 square foot penthouse appartment, just steps from Central park, offers 3 bedrooms and four-and-a-half baths and boasts several decked-out reception rooms, a dramatic two-story gallery, light-flooded livingroom and a terrace with sweeping city views.
Mel Gibson
Reduced: $29.75 million
With his divorce from longtime wife Robyn and a girlfriend pregnant with his eight child, Mel dropped the origional asking price from $39 million ( 2007 ) in June to $29.75 million.The mansion, known as "Old Mill Farm," was designed and built in 1926 by architect Charles Lewis Bowman for horse-loving client G.L. Ohrstrom. The Tudor-inspired mansion has a whopping 15,800 square feet of living space, with 15 bedrooms and 18 baths, and includes a great hall with 40-foot cathedral ceilings, a minstrel's gallery and a walk-in fireplace. The home also comes with 77 acres of land, a huge landscaped yard (including a maze) fashioned by landscape designer James Doyle, staff houses, log cabin, pond, greenhouse and stable.
Michael Jackson
Asking: $28.99 million
Although the listing price has dropped more than $9 million from 2008, it is also infamously the home where Michael Jackson passed away last year, which could potentially either lure or scare away buyers. Although Jackson did not own the home, he was renting it for a reported $100,000 per month while he rehearshed his "This is It" tour.
This 17,171 square foot 7 bedroom 13 bathroom French Chateau is located in the Holmby Hills area of Los Angeles and includes a "glamorous" theater room, wine cellar, elevator, gym, guest house, a pool and expansive gardens on the 1.26 acre property. The home also features 12 fireplaces and an indoor spa.
In order to even view the home, interested buyers must go through an extensive "pre-buying" check, to avoid any paparazzi.
Dr. Phil
Asking $16.5 million
Phil McGraw's 11,036 square foot 8 bedroom 7 bathroom Hollywood home is currently on the market for a cool $16.5 million. With a prime "north of Sunset" location, this Mediterranean villa is completely walled and gated and features a grand 2-story entry, theater room, gym, billiard room, a 2-bedroom guest house and an outdoor dining room. The estate sits on land measuring approximately 31,360 square feet.
John Wayne
Asking $2,263,00
The Duke's former 4,448 square foot 4 bedroom 4 1/2 bath home, located in Newport Beach, California on the market for any duster fans. The property has has had two previous owners since John Wayne. It last changed hands in 1998 for $895,000.
The house borders the Big Canyon Golf Course, right by the tee for the fourth hole. The home features a two-story living room with floor-to-ceiling windows, parquet floors, marble fireplaces, balconies and a formal dining room with a custom console designed by Wayne himself.
Whether you are looking for something a bit more affordable or equally as grand, please visit our website at http://www.MervEdinger.com
*Information regarding listings were obtained from HGTV, Yahoo, & HomeZillia.
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