You might think celebrities are immune from the pains of the real estate market but in fact, many of them have taken a hit.
There are quite a few celebrity homes on the market that have had serious price reductions, though many of them would still make a profit if they sold at the current list price today. But there are others who, for one reason or another, have had to sell their homes at a loss.
“Celebrities aren’t exempt from today’s national real-estate trends,” said Candice Cerro, a spokesperson for Move.com and Realtor.com. And, they’re not exempt from life. “Even though they might have more money, there might be life circumstances that are forcing them to have to sell” in a down market, she said.
For some, it’s divorce, for others, it’s financial troubles. Whatever the reason, it’s hard to believe that starpower can’t overcome this market. Here are eight celebrity homes sold at a loss.
By Cindy Perman
23 March 2011