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Celebrity Homes With Prices Slashed

Celebrity Homes, Slashed Prices

Homeowners have taken a beating since the housing bubble burst and no one is safe — not even celebrities.“As sellers, celebrities are no better than the rest of us!” said Amy Bohutinsky, vice president of marketing and communications at real-estate web site Zillow found more than dozen celebrity homes on the market right now that have had to take price cuts and the numbers are astonishing: The listing prices have been slashed anywhere from 4 to nearly 50 percent.And, being celebrities, who are u
Source: Zillow.com

Homeowners have taken a beating since the housing bubble burst and no one is safe — not even celebrities.

“As sellers, celebrities are no better than the rest of us!” said Amy Bohutinsky, vice president of marketing and communications at real-estate web site Zillow.com.

Zillow found more than dozen celebrity homes on the market right now that have had to take price cuts and the numbers are astonishing: The listing prices have been slashed anywhere from 4 to nearly 50 percent.

And, being celebrities, who are used to fans paying big money for everything from their autograph to their old guitar, a dramatic drop in the value of their home can be an even tougher pill to swallow than it is for the average homeowner.

“They’re used to having a power position,” Bohutinsky said. “But in this market, it’s the buyers that have the power.”

Here are more than a dozen celebrity homes and the “bargain” price they’re going for now!

50 Cent, Musician

Current price: $9.99 millionPrice cut: -45.9%Square feet: 48,515Fifty’s 21 bedroom, 25 bath Farmington, Conn., home was first listed in 2007 for $18.5 million. After a lawsuit in 2009, he took his home off the market, then relisted it for $14.5 million, then took it off the market again. The nearly 50,000 square-foot palace, which has its own night club, basketball court and grotto, is currently on the market for the bargain bin price of $9.99 million. ()
Source & Photo: Zillow.com || Inset photo: Getty Images

Current price: $9.99 million
Price cut: -45.9%
Square feet: 48,515

Fifty’s 21 bedroom, 25 bath Farmington, Conn., home was first listed in 2007 for $18.5 million. After a lawsuit in 2009, he took his home off the market, then relisted it for $14.5 million, then took it off the market again. The nearly 50,000 square-foot palace, which has its own night club, basketball court and grotto, is currently on the market for the bargain bin price of $9.99 million. (View photos at Zillow.com.)

Charlie Sheen, Actor

Current price: $3.55 millionPrice cut: -13.4%Square feet: 4,179Why would a celebrity, who has enough money to keep a spare mansion even if it’s empty, want to sell their house in a down market? In a word: divorce. In two words: Charlie Sheen. The and his wife Brooke put their Los Angeles home on the market last May for $3.29 million, saying this 4 bedroom, 4.5 bath Mediterranean home wasn’t big enough for their family. They switched realtors in the fall and briefly raised the price to $4.1 mill
Source & Photo: Zillow.com || Inset photo:

Current price: $3.55 million
Price cut: -13.4%
Square feet: 4,179

Why would a celebrity, who has enough money to keep a spare mansion even if it’s empty, want to sell their house in a down market? In a word: divorce. In two words: Charlie Sheen. The wild child star of “Two and Half Men” and his wife Brooke put their Los Angeles home on the market last May for $3.29 million, saying this 4 bedroom, 4.5 bath Mediterranean home wasn’t big enough for their family. They switched realtors in the fall and briefly raised the price to $4.1 million, before dropping the price two times in the following six months. It’s currently listed at $3.55 million. But don’t cry for Sheen, Catalina: The current price is still more than the $2.57 million they paid for it in 2007. (View photos at Zillow.com.)

Christina Aguilera, Musician

Current price: $5.99 millionPrice cut: -4.1%Square feet: 6,500What a girl wants, what a girl needs … is to sell this house. She originally put her Hollywood Hills mansion on the market in April 2008 for $7.99 million. The home, a stunning mid-Century modern with “Jetliner views from downtown to the ocean,” was then taken off the market and re-listed for $6.25 million. After her recent split from husband Jordan Bratman, the price was reduced once again and is currently on the market for $5.99 mil
Source & Photo: Zillow.com || Inset photo: Rick Diamond | WireImage | Getty Images

Current price: $5.99 million
Price cut: -4.1%
Square feet: 6,500

What a girl wants, what a girl needs … is to sell this house. She originally put her Hollywood Hills mansion on the market in April 2008 for $7.99 million. The home, a stunning mid-Century modern with “Jetliner views from downtown to the ocean,” was then taken off the market and re-listed for $6.25 million. After her recent split from husband Jordan Bratman, the price was reduced once again and is currently on the market for $5.99 million. You can feel bad for the new mom personally, but don’t feel bad for her wallet: Aguilera originally bought the home in 2003 for $5 million, so at this price, she stands to make a cool million off the sale. (View photos at Zillow.com.)

Mel Gibson, Actor

Current price: $12.75 millionPrice cut: -12.1%Square feet: 5,403Not even the “Passion of the Christ” seems to be able to help Mel Gibson sell his Malibu dream home. He put the Lavender Hill Farm (an ironic name, given that lavender is known for its soothing properties) on the market for $14.5 million in March 2010. After a highly-publicized crazy parade and subsequent divorce from wife Robyn last year, the 9 bedroom, 8.5 bath home in a secluded area of Malibu, was knocked down to $12.75 million
Source & Photo: Zillow.com || Inset photo: Bertrand Langlois | AFP | Getty Images

Current price: $12.75 million
Price cut: -12.1%
Square feet: 5,403

Not even the “Passion of the Christ” seems to be able to help Mel Gibson sell his Malibu dream home. He put the Lavender Hill Farm (an ironic name, given that lavender is known for its soothing properties) on the market for $14.5 million in March 2010. After a highly-publicized crazy parade and subsequent divorce from wife Robyn last year, the 9 bedroom, 8.5 bath home in a secluded area of Malibu, was knocked down to $12.75 million a few weeks ago. He’s also had a hard time selling his Connecticut property, which was slashed to $29.75 million from $35 million. He knows what women want and now he knows what buyers want — a lower price tag! (View photos at Zillow.com.)

James Mardsen, Actor

Current price: $899,000Price cut: -35.7%Square feet: 3,974The “Modern Family” and “X-Men” actor bought this Nashville home for $780,000 in March 2008, did a huge green renovation and then tried to sell it for nearly double — $1.39 million — last year. But his superpowers (he shot red bolts of force from his eyes in X-Men) weren’t enough for this real-estate market. In August, it was reduced to $1.25 million. Less than a year later, his million-dollar dreams were dashed and the home is currently
Source & Photo: Zillow.com || Inset photo: Paul Redmond | Wire Image | Getty Images

Current price: $899,000
Price cut: -35.7%
Square feet: 3,974

The “Modern Family” and “X-Men” actor bought this Nashville home for $780,000 in March 2008, did a huge green renovation and then tried to sell it for nearly double — $1.39 million — last year. But his superpowers (he shot red bolts of force from his eyes in X-Men) weren’t enough for this real-estate market. In August, it was reduced to $1.25 million. Less than a year later, his million-dollar dreams were dashed and the home is currently listed for $899,900. Still, he’ll make nearly $120,000 if it sells at this price. (View photos at Zillow.com.)

Jamie Moyer, MLB Pitcher

Current price: $6.75 millionPrice cut: -15.1%Square feet: 7,100Jamie Moyer’s price-cut tale is also a story of divorce — but divorce from a team. After 10 years with the Seattle Mariners, the pitcher was traded to the Philadelphia Phillies. In the fall of 2009, he put his 7 bedroom, 4.5 bath Seattle home, that was extensively renovated, on the market for $7.95 million. The took it off the market for a while, then relisted it in January 2011 for $6.75 million. ()
Source & Photo: Zillow.com || Inset photo: George Gojkovich | Getty Images

Current price: $6.75 million
Price cut: -15.1%
Square feet: 7,100

Jamie Moyer’s price-cut tale is also a story of divorce — but divorce from a team. After 10 years with the Seattle Mariners, the pitcher was traded to the Philadelphia Phillies. In the fall of 2009, he put his 7 bedroom, 4.5 bath Seattle home, that was extensively renovated, on the market for $7.95 million. The took it off the market for a while, then relisted it in January 2011 for $6.75 million. (View photos at Zillow.com.)

Hulk Hogan, Former Pro Wrestler

Current price: $10.9 millionPrice cut: -21.6%Square feet: 17,145Hogan may know best when it comes to his TV show, but with real estate prices? Not so much. The former pro wrestler-turned-reality star originally put his Belleair, Fla., home on the market in August 2009 for $13.9 million. Four price cuts and a divorce from wife Linda later, the current list price is $10.9 million. Though, it’s still a nice profit, if he can pull it off, given that he bought the house for $2 million in 1992. Descri
Source & Photo: Zillow.com || Inset photo: Getty Images

Current price: $10.9 million
Price cut: -21.6%
Square feet: 17,145

Hogan may know best when it comes to his TV show, but with real estate prices? Not so much. The former pro wrestler-turned-reality star originally put his Belleair, Fla., home on the market in August 2009 for $13.9 million. Four price cuts and a divorce from wife Linda later, the current list price is $10.9 million. Though, it’s still a nice profit, if he can pull it off, given that he bought the house for $2 million in 1992. Described in the listing as “majestic,” the 5 bedroom, 9.5 bath house sits on a bluff with “magnificent views” of the Intracoastal Waterway and Clearwater Pass to the Gulf of Mexico. Whoever buys this palatial estate won’t have to wonder what the old homeowners were like and what they did in the house — they can just buy the DVD box set! (View photos at Zillow.com.)

Val Kilmer, Actor

Current price: $18.5 millionPrice cut: -43.9%Square feet: 5,500Tom Cruise famously asked Val Kilmer, “What’s your problem?” in Top Gun. Well, I think we know his problem now and it has nothing to do with Maverick’s flying. The actor can’t seem to sell his Pecos River Ranch in New Mexico — even after several price cuts. The 7 bedroom, 8.5 bath ranch, which he at one time hoped to turn into a B&B (for all his tough guy roles, a B&B is pretty funny), is now listed for $18.5 million. It was original
Source & Photo: Zillow.com || Inset photo: Getty Images

Current price: $18.5 million
Price cut: -43.9%
Square feet: 5,500

Tom Cruise famously asked Val Kilmer, “What’s your problem?” in Top Gun. Well, I think we know his problem now and it has nothing to do with Maverick’s flying. The actor can’t seem to sell his Pecos River Ranch in New Mexico — even after several price cuts. The 7 bedroom, 8.5 bath ranch, which he at one time hoped to turn into a B&B (for all his tough guy roles, a B&B is pretty funny), is now listed for $18.5 million. It was originally listed for $33 million in 2009. You wouldn’t think living at a ranch, which is a great hunting, hiking and fishing retreat, would be stressful, but Kilmer’s time there has been littered with trouble with his neighbors — and the IRS. Excuse me, lieutenant. Is there something wrong? (View photos at Zillow.com.)

Billy Joel, Musician

Current price: $18.5 millionPrice cut: -17.8%Square feet: 5,550Who needs a house in Sagaponack-ack-ack-ack, you oughta know by now — Billy Joel’s movin’ out. After splitting with his third wife, Katie Lee Joel, in 2009, he put his oceanfront Sagaponack, NY home in the Hamptons section of Long Island on the market for $22.5 million. After a year, they knocked it down to $19.9 million and it’s now listed for $18.5 million. He bought the 4 bedroom, 6 bath home for $16.75 million in 2007 (from “Jaws
Source & Photo: Zillow.com || Inset photo: Getty Images

Current price: $18.5 million
Price cut: -17.8%
Square feet: 5,550

Who needs a house in Sagaponack-ack-ack-ack, you oughta know by now — Billy Joel’s movin’ out. After splitting with his third wife, Katie Lee Joel, in 2009, he put his oceanfront Sagaponack, NY home in the Hamptons section of Long Island on the market for $22.5 million. After a year, they knocked it down to $19.9 million and it’s now listed for $18.5 million. He bought the 4 bedroom, 6 bath home for $16.75 million in 2007 (from “Jaws” star Roy Schneider) and did an extensive renovation with designer and Oprah regular Nate Berkus, which may explain why the initial listing price was so high. You had to be a big shot, did you? (View photos at Zillow.com.)

Alicia Keys, Musician

Current price: $2.99 millionPrice cut: -7.8%Square feet: 7,9542010 was a big year for the Grammy-winning singer: She got married, had a baby and put her Syosset, NY home on the market. Well, two out of three ain’t bad! She initially listed it for $3.25 million in September 2010 and then slashed it to $2.99 million a few months later. Even though the 7 bedroom, 6.5 bath house would be big enough to start a family, they are aggressively trying to sell it. So much so that, at the current price, Key
Source & Photo: Zillow.com || Inset photo: Bruce Gilkas | FilmMagic | Getty Images

Current price: $2.99 million
Price cut: -7.8%
Square feet: 7,954

2010 was a big year for the Grammy-winning singer: She got married, had a baby and put her Syosset, NY home on the market. Well, two out of three ain’t bad! She initially listed it for $3.25 million in September 2010 and then slashed it to $2.99 million a few months later. Even though the 7 bedroom, 6.5 bath house would be big enough to start a family, they are aggressively trying to sell it. So much so that, at the current price, Keys would take a loss on the house. She bought it for $3.87 million in 2005. It keeps on falling. Innnnnn … and ouuuuut … with buyers .. sometimes they love you! Sometimes they make you blue …  (View photos at Zillow.com.)

Joey Lawrence, Actor

Current price: $2.59 millionPrice cut: -18.8%Square feet: 8,100Gimme a break! Lawrence, originally listed his classic Spanish estate in Encino, Calif., for $3.19 million in January 2010, then dropped the price to $2.99 million in July and $2.59 million in November. The 6 bedroom, 9.5 bath has a “ginormous” master suite (that sounds like something Joey would say, right?) a movie theater and multiple saunas. He’s lived there for 16 years, which is a lot in actor years. (What is that, like 37 human
Source & Photo: Zillow.com || Inset photo: Getty Images

Current price: $2.59 million
Price cut: -18.8%
Square feet: 8,100

Gimme a break! Lawrence, originally listed his classic Spanish estate in Encino, Calif., for $3.19 million in January 2010, then dropped the price to $2.99 million in July and $2.59 million in November. The 6 bedroom, 9.5 bath has a “ginormous” master suite (that sounds like something Joey would say, right?) a movie theater and multiple saunas. He’s lived there for 16 years, which is a lot in actor years. (What is that, like 37 human years?) So, even if he sells at the bargain basement price of $2.59 million, he’ll still make a profit of over $1.4 million. Whoa! (View photos at Zillow.com.)

Shawn Green, Former MLB Player

Current price: $10.9 millionPrice cut: -37.7%Square feet: 13,500In this economy, not even some of the coolest features in a prestigious zip code can sell a house. Shawn Green, a professional baseball player who’s played for the L.A. Dodgers and N.Y. Mets, among others, has had to take a couple of price cuts on his Irvine, Calif., home, that features a subterranean wine cellar and tunnel connecting the residence to the pool house and home theater, according to the listing. It went on the market i
Source & Photo: Zillow.com || Inset photo: G Flume | Getty Images

Current price: $10.9 million
Price cut: -37.7%
Square feet: 13,500

In this economy, not even some of the coolest features in a prestigious zip code can sell a house. Shawn Green, a professional baseball player who’s played for the L.A. Dodgers and N.Y. Mets, among others, has had to take a couple of price cuts on his Irvine, Calif., home, that features a subterranean wine cellar and tunnel connecting the residence to the pool house and home theater, according to the listing. It went on the market in December 2009 for $17.5 million and two price cuts later, it’s on the market for $10.9 million. (View photos at Zillow.com.)

Leanne Rimes, Musician

Current price: $6.24 millionPrice cut: -16%Square feet: 13,310Tell me now … How will she live …. Without this house … I want to know. Well, none of us will know for a while because Leann Rimes is having a hard time selling her 13,000 square foot faux English-style mansion in Tennessee. In May 2009, she put the house on the market for $7.45 million. A few months later, she put her husband back on the market and the couple filed for divorce. After the divorce was finalized, she dropped the price i
Source & Photo: Zillow.com || Inset photo:

Current price: $6.24 million
Price cut: -16%
Square feet: 13,310

Tell me now … How will she live …. Without this house … I want to know. Well, none of us will know for a while because Leann Rimes is having a hard time selling her 13,000 square foot faux English-style mansion in Tennessee. In May 2009, she put the house on the market for $7.45 million. A few months later, she put her husband back on the market and the couple filed for divorce. After the divorce was finalized, she dropped the price in January 2010 to $6.49 million. That was a cool million off the top, but it wasn’t enough. They lowered the price two more times and the current price is $6.24 million. Lovers may come and go, but real estate seems to stick with you forever in this market! (View photos at Zillow.com.)