Celebrity Homes – Biggest Rate Cuts

Celebrities almost always bump into affairs of selling their luxurious cribs. For whatever reason for the sale, celebrity homes often stay on the auction list for long periods of time before somebody with exquisite taste for luxury estates buys these off the shelves.

Unlike regular estates, celebrity homes are more difficult to sell considering their price and the status of the real estate market. This leaves celebrities with no choice but to reconsider the bargaining prices of their properties. Most celebrity homes are bought at a lower value than its original asking price. Just like what happened to the American singer and songwriter Kenny Chesney who sold his home for an astounding $8.5 million. This is $600 thousand more than its original asking price of $7.9 million. How about other celebrities? Well, they have yet to find such luck.

One of the most famous celebrity homes that scored an astounding price cut is Nicholas Cage’s vintage Hollywood abode in Los Angeles. This classic Tudor was a former home to famous personalities Dean Martin and Tom Jones. The house itself is built on a full acre of land and has a total floor area of 11,000 square foot. The seven-bedroom property features a home theater, wine cellar, and a gaming area all of impressive dimensions. Cage bought the property back in 1998 from Jones for $6.469 million. He has tried to put it to market when it was listed at $35 million back in 2006. It is presently listed at half its price at $17.5 million.

Actor Mel Gibson has tried to sell his mansion in Greenwich Connecticut for a staggering $39.5 million back in 2007. This vintage property is one of the remaining manor homes in the area. This celebrity estate sits comfortably on a lofty 77 acre land complete with lush gardens, greenhouse, staff houses, log cabin and a maze. The mansion has 18 classy bathrooms and 15 bed rooms in total. The property is now listed at $29.5 million, $10 million cheaper than what was listed back in 2007.

Suzanne Somers owns what is probably regarded as the luxury estate that had the greatest price cut in Les Baux de Palm Springs. This celebrity home is built on the hills of Pals Springs which sits on a 65-acre desert land. The house boasts of its French country inspired interior design that comes complete with exotic velvet sofas, gigantic chandeliers, and a collection of rugs made from zebra skin. The property was initially priced $35 million and was listed on August of 2009 at $12.9 million dollars. This shows a dramatic cut of less than half of its original asking price.

What makes celebrity homes still so attractive despite the not so booming real estate market is that, for anyone who owns one practically gives the owner more than just fame. It grants him celebrity status as well. After all, celebrity homes top the best cribs the world has to offer.