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9 Celebrities Who Lost Some Serious Cash Money On Real Estate
Celebrity Real Estate Losers
The housing market is tricky. It’s up, it’s down, it’s up again…and then it’s back down. We’re seeing a nice recovery in the overall market right now, but that doesn’t mean everyone is making money on their homes – even celebrities.
Let’s take a look at 9 big-name celebrities that lost some serious cash money when they sold their luxury real estate in the last year.
This “California Gurl” bought this Spanish-style home in Hollywood in 2011 for $6.5 million. She intended to use the spread as her marital home with then-husband. Russell Brand. Before the moving trucks could even get in the front gate, the duo had split. Perry then had to face a financial heartbreak when she had to sell the home for $5.65. After fees and closing costs, she lost more than a million dollars on the home.
Reese just sold this ranch in Ojai, California for $4,983,500. She bought it in 2008, married her husband Jim Toth there in 2011, and then put the place up for sale in 2013. Reese originally had the place listed it for $10 million, and price chopped it multiple times, until it sold for almost a million less than the $5.8 million she paid for it.
The NBA legend has been trying to sell his Chicago-area mansion for years. It originally had a $29 million dollar price tag until he cut $8 million off the price – bringing it to $21 million. After failing to sell it at the reduced price, Jordan put the home up for auction – where it AGAIN failed to sell. It’s now back on the market and still looking for a buyer.
The ageless actress and spokeswomen lost $25,000 (plus agents fees and other costs) when she sold her Marina Del Rey home after only 9 months of ownership.
The actress and sister of Hilary Duff lost $30,000 when she sold her Toluca Lake bachelorette pad for $1.72 million in February 2013. She paid $1.75 when she bought it back in 2008.
Phillipe joins his ex-wife, Reese Witherspoon on this illustrious list. The actor lost an eye-popping $1,175,000 on the sale of his Hollywood Hills home. The silver screen hunk paid $7,175,000 for the place in 2008, and sold it for an even $6 million in March 2013.
After two years on the market, Christina Aguilera FINALLY sold the home she bought from the Osbournes. She paid $11.5 million to buy the Beverly Hills mansion from Ozzy and Sharon, and that’s exactly what she sold it for – $11.5M, although she’d been hoping for $13.5M. After remodeling, closing and carrying costs, ‘The Voice’ judge likely lost a nice chunk of change.
‘Private Practice’ actress Kate Walsh waited a long time to sell her glamourous Los Feliz home, and lost $75k along the way.
Actress Olivia Wilde was eager to sell her bachelorette pad in Los Feliz after her engagement to actor Jason Sudekis. She took a $100,000 hit on the place when she sold it in June 2013.