Celebrity homes in US selling at bargain prices | Irvine Real Estate | Irvine Homes and Condos for Sale

by Robert Mack on January 21, 2011

in Buyers, Latest News, Sellers

It’s not just the UK, the USA is also suffering from a property slump and celebrities over there are selling some of their incredible properties at bargain prices.

For instance singer Sheryl Crow’s Nashville mansion is going to auction as it didn’t find a buyer at the $7.5 million asking price. She paid $6 million in 2006 for the three storey, five bedroom, seven bathroom, six car garage house.

It also has a theatre room, swimming pool, staff annex, three bedroom guest cottage and a fourteen stall barn with indoor riding arena house.

High profile actor Nicolas Cage, has finally sold his Bel Air home for a mere $10.5 million, which is only a third of the price he was originally asking.

The 1940s Tudor style, 11,817 square foot mansion which has six bedrooms, nine bathrooms, a central tower, wine cellar, 35 seat theatre and a swimming pool, didn’t generate any bids when it was offered in April at the county courthouse in Pomona. It did however attract potential buyers and multiple offers after Citibank put it back on the market at a reduced price of $11.8 million.

A slightly smaller, newer house sold for $22 million just last year on the same street in Bel Air, according to public records. Which really shows the continued price falls in the luxury market in the US.

Cage who is 46, has faced property portfolio problems and sued his former business manager, Samuel J. Levin last year, who he accused of leading him into financial ruin.

But Levin filed his own countersuit, telling how Cage set off ‘on a spending binge of epic proportions’ buying 15 palatial homes around the world, an island in the Bahamas, four yachts, a private Gulfstream jet and art and jewelery worth millions.

Celebrity Gossip!!!!

Posted on Irvine Orange County Real Estate Market News

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