The Celebrity Real Estate Market - Sell, Sell, Sell

Published by julia | Filed under Buyer / Seller Tips, Celebrity Real Estate, Cool Listings, Real Estate

If you think the common man is the only one selling out of their homes, rest assured, the celebrity is also selling. Most of the time celebrity real estate will have some sales and some purchases, but not this time around. Shaquille, Barry and Britney are all selling.

Shaquille O’Neal was just signed to a contract with the Cleveland Cavaliers. This means no more Miami Heat and no more mansion (sorry MTV Cribs). What it also means is that the mansion needed to be sold and fast in order for the basketball star to buy a new home. For those who worry about reducing the price of their homes a few thousand, listen to this one. The original listing price for the Shaquille O’Neal mansion was $32 million in 2005. The home was finally sold for a mere $15 million. That is a price reduction of more than 50%.

Barry Manilow is also on the selling block. This world renowned singer has reduced the price of his beach front home from $12 1/2 million to nearly $11 million. Manilow is not as brave as Shaquille O’Neal, however. Barry Manilow purchased the beach house for about $4 million in 2002, so no one is going to buy this home until the price reaches near that again. Count on it!

Britney Spears has managed to keep her name out of the main stream news for a few weeks now, but her real estate dabbles are still front page news. She owns a home Hollywood Hills and has reduced the price of the home in the past. Again Britney took a trip to the real estate agent and told them to, “Cut That Price!” Her home is now listed for $6.5 million (originally listed for $7.9 million).

BONUS NEWS: For those keeping up with the most popular celebrity news, there may be a new home purchase to report in the near future after all. Kevin Jonas, oldest brother of the popular teen group The Jonas Brothers, has recently been engaged. This means there will be a need for additional square footage and larger closet space. Watch out cribs, this could be the next big story in flaunting real estate.