Posted on 10/08/2016 4:35:20 PM PDT by BenLurkin
“Less than the original asking price” is of course a relative term, but losing money on a home sale still hurts, whether it’s a regular Joe or Matthew Perry, who had to settle for $2.85 million less than the original $25 million he asked for his Malibu home. Katy Perry and Jessica Simpson also had to settle for less than asking prices on their properties – respectively, $1.36 million less on a Hollywood Hills estate and $1.595 million less for her Beverly Hills home.
Celebrities sometimes add features to their homes that aren’t popular among regular people – such as a basketball court in the basement. These properties are also harder to show, according to Redfin real estate agent Alec Traub – anyone who wants to tour a property owned by a celebrity has to go through a vetting process.
(Excerpt) Read more at losangeles.cbslocal.com ...
It is only worth what another person is willing to pay for it
Who wants stalkers or murderers coming in? See Manson, Charles.
I’m still trying to figure out how they put a basketball court in their basement.
I remember the folks whose homes burned down in a HUGE Santa Barbara fire. I felt sorry for them until they said that they were watching their wonderful home burn...from their yacht.
.
.
Oh, SOOO sorry.
Same way they put one in the matterhorn at Disney World?
Charles Manson And The Beach Boys - Never Learn Not To Love (Cease To Exist)
https://www.youtube.com/watch?v=1ERIssUYV8g
The house next to me was empty for 6 years. No one wanted the built in swimming pool.
Id probably be willing to consider an artificial natural pool, but not a regular pool.
Artificial natural pools use biological processes to self-clean
Gee, I thought everybody automatically got exactly what they asked for when they put there house up for sale. You mean sometimes folks sell for, like, 10% less??
The reason this is true, that celebrity homes sell for less, is because celebrities buy the homes for far more than anyone else would pay. They are bad buyers. They either quickly get tired of them or they realize too late that keeping up a huge home is even more expensive than buying it in the first place. And so they sell it long before they can realize any gain.
Celebrities are idiots. Many of them go bankrupt when their celebrity looses its lucrative value. Nobody ever explains that property taxes, landscapers, pool boys, maids and every type of handymen cost tons of cash.
And such sales naturally take longer.
I’m sure they have no problems writing off the loss
I feel real sorry for them.....
Hollywood salaries and internet personalities salaries.
http://www.hollywoodreporter.com/lists/hollywood-salaries-2016-who-got-933037/item/hollywood-salaries-revealed-who-got-933047
I’m sure they have no problems writing off the loss
The reason these folks have a problem is that they are no longer the celebrities and have lost their celebrity income, ergo they do not have income to be offset by the loss, by tax code limited to
$3k per year deduction against taxable income.
Chapter 7 bankruptcy then follows once income flow is lost and expenses exceed the income and contract secured debt cannot be paid when due.
This is a simplified explanation that I hope you and others can handle...
I have seen one in the basement of a house. It was a full sized court. The ceiling of the basement was at least 20 feet above the basement floor. Also, the “basement” was extended out the back of the house to make it a full sized court. The concrete patio was above it.
I can hardly hold back the tears...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.