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Michael Jackson’s Dermatologist Arnold Klein Lists Home in Bankruptcy

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Arnold Klein HomeDoctor Arnold Klein, the dermatologist accused of contributing to Michael Jackson’s overdose, is now bankrupt thanks to the many lawsuits against him. TMZ reports that he failed to turn over more than 100 pieces of expensive artwork as well as a 2001 Ferrari Spider to the bankruptcy trustee. But one thing he hasn’t been able to hide is his impressive Tudor-style home in Beverly Hills.

Yesterday the home hit the market for $4.25 million as a bankruptcy sale. The 11,300 square foot home was built in 1914 and retains many original features, including beautiful mill work on the elaborate carved staircase, unique statuary and English gardens. It also comes with a library, maid’s quarters, guest house and pool (with a big hippo statue!).

The home is located in the Windsor Square area of Los Angeles, an area that isn’t known for A-listers (they tend to head to the hills), but is home to other celebs such as James Spader, Neal McDonough, Shonda Rhimes and Patricia Heaton.

If you want to check it out for yourself, there’s an open house on Sunday, June 23, from 2:00 – 5:00 p.m.!

The post Michael Jackson’s Dermatologist Arnold Klein Lists Home in Bankruptcy appeared first on Redfin Real Estate Blog.


Carlos Santana Lists and Buys in Las Vegas

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Carlos Santana HomeCarlos Santana is clearly a fan of modern, tech-savvy homes. On May 28 the musician listed his Las Vegas home at 23 Skybird Ct for $3,499,900, and on June 3 he bought a similar home down the street for $6 million. Both homes have a Creston technology system, which controls the lights, shades, security system, temperature, TV and electronics. They also have similar architectural styles, with sleek lines and exposed stone.

His new home cost more than $2.5 million more than the one he is trying to sell. It has an extra bedroom, bathroom, and $2 million dollars worth of electronics. It’s the ultimate party pad, with a pool table, pinball machines, air hockey, a putting green, outdoor pool, home theater and bar. Both homes are located in Summerlin, minutes from the Las Vegas strip.

What do you think of his new place? Would you enjoy having $2 million worth of electronics in your home?

The post Carlos Santana Lists and Buys in Las Vegas appeared first on Redfin Real Estate Blog.

Bob Newhart Lists Wallace Neff-Designed Home for $15.5M

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Bob NewhartComedian Bob Newhart just listed his Wallace Neff-designed home in Los Angeles for $15.5 million! This isn’t the first time it has hit the market; he listed it in 2006 for $18.9 million, but pulled it off the market after it hadn’t sold in nearly a year. It looks like he’s giving it another shot!

Newhart and his wife, Virginia, purchased the home in 1990 for $4.2 million. It was built in 1941, but has since undergone several remodels and expansions. The five bedroom, 6.25 bath home spans more than 9,100 square feet and is located on more than an acre of beautifully landscaped grounds.

The French Country estate has all the typical features of homes in this price range, including a cook’s kitchen, maid’s quarters, and a grand master suite with a sitting area, his/hers baths, and large walk-in closets. Outside, there’s a large lagoon pool and covered outdoor entertainment area with a kitchen and two baths.

The price tag has a lot to do with the location; the estate is located in old Bel Air, home of celebrities and wealthy entertainment executives (it is right next door to Nancy Berry, the vice chairman of Virgin Music Group). Another factor is the famous architect; Wallace Neff is known as the creator of “California Style” homes, and is a favorite among luxury home buyers. Other celebrities who have owned Neff-designed homes include Brad Pitt, Jennifer Aniston, Madonna, Jenna Elfman and Rupert Murdoch.

What do you think of his home? Would you pay $15.5 million for it?

The post Bob Newhart Lists Wallace Neff-Designed Home for $15.5M appeared first on Redfin Real Estate Blog.

Kate Walsh Sells Los Feliz Mansion for $4,675,000

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Kate Walsh HomeOn June 20 “Private Practice” star Kate Walsh, 45, sold her Los Feliz pad after three years on the market. The romantic Spanish-style estate was built in 1928 and retains some of the original details, including vintage tile, wood-beamed ceilings and a wrought iron stairwell. It spans nearly 6,000 square feet, with four bedrooms and six baths, and has been updated with new surfaces, appliances, and modern conveniences. The garage was even converted to a Pilates studio…Kate must work out more than she drives!

Kate originally listed the home on May 3, 2010, for $4,295,000. After four months on the market, she dropped the price to $3,995,000, but that didn’t do the trick, so she delisted it a few months later. It reappeared on May 10, 2013, for $4,750,000, and finally sold on June 20 for $4,675,000. Kate paid $4,750,000 for it back in 2007, so she lost money on the sale.

The home is directly across the street from the current home of Michael C. Hall (a.k.a. Dexter). That home sold much more quickly; it was listed by a developer on April 5, 2013, for $3,927,000, and Hall bought it six weeks later for $3,825,000.

The post Kate Walsh Sells Los Feliz Mansion for $4,675,000 appeared first on Redfin Real Estate Blog.

Jimmy Buffett Can Enjoy His Cheeseburger at This New Home in Paradise

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Jimmy Buffett HomeHe may be traveling the country on his “Songs from St. Somewhere” tour, but that hasn’t stopped Jimmy Buffett from jumping on a real estate opportunity. A few weeks ago the singer purchased a third home in Palm Beach, Florida, for $1.3 million. It is located directly across the street from a home he purchased in 2002 for $802,000. His new home has four bedrooms, 3.5 baths, and spans more than 3,100 square feet. It comes with a chef’s kitchen, marble-finished baths, a private patio and balcony.

Rumor has it that he bought the home just to store his surf boards. We can’t confirm one way or another, but it’s certainly not the most expensive home in his real estate portfolio. Buffett owns another home just a few miles down the road, which he picked up for $4.95 million in December 2011. Described as “island contemporary,” the estate exudes a tropical feel, with mahogany-framed glass doors that slide open to create an indoor/outdoor living area. Even though he bought it for nearly five million, it seems like a major downsize compared to the 11,500 square foot estate he sold in 2010 for $18.5 million.

In addition to his Florida homes, Buffett drinks margaritas at his home on the Caribbean island of St. Bart, and on Long Island, where he owns three homes located right next to each other on Actors Colony Rd.

What do you think of his new home? Tell us in the comments!

The post Jimmy Buffett Can Enjoy His Cheeseburger at This New Home in Paradise appeared first on Redfin Real Estate Blog.

Ricki Lake Lists Former Courteney Cox/David Arquette Home for $8.75M

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Ricki Lake HouseTalk show host Ricki Lake just listed the Los Angeles home she purchased from Courteney Cox and David Arquette! It hit the market for $8.75 million, which is $2.25 million more than Lake paid for it back in 2002, when she purchased it from the Arquettes for nearly $6.5 million under her RMR Trust.

The secluded plantation-style home has a prime location in Brentwood, which is home to many celebrities. It was built in 1949 and spans 5,226 square feet, with six bedrooms and 5.5 baths. It has a Zen-like feel, with French doors leading out to a patio decorated in Moroccan-style furnishings. The patio leads to a covered outdoor kitchen and dining area, which looks out onto a lush garden with twinkling lights and lanterns.

Lake may be looking to downsize now that “The Ricki Lake Show” has been cancelled. Even though she won a Daytime Emmy award for “Outstanding Talk Show Host,” her show received low ratings in the 2012-2013 season, and was ultimately cancelled after just one season.

The Arquettes owned the home for six years before they sold it to Ricki and her husband, Rob Sussman. They purchased the home in 1996 for $2,055,000, under their “Bring It” trust (great name!).

This isn’t the only time the stars have been connected. Ricki Lake and David Arquette competed against each other in Season 13 of “Dancing with the Stars!” Ricki came in third place, beating out David, who came in sixth place.

What do you think of Ricki’s home? Tell us in the comments!

The post Ricki Lake Lists Former Courteney Cox/David Arquette Home for $8.75M appeared first on Redfin Real Estate Blog.

Hunky “True Blood” Star Joe Manganiello Buys Mid-Century Modern Home in Los Angeles

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Joe ManganielloJoe Manganiello, who plays a werewolf on HBO’s “True Blood,” recently purchased a mid-century modern home in Los Angeles for $1,806,000. The four bedroom, three bath home was built in 1963 and has been renovated with modern fixtures and appliances. It is located in the Hollywood Hills, near Nichols Canyon, where many celebs call home, including Tim Allen, Rose McGowan, Jonathan Rhys Meyers, and Anna Faris/Chris Pratt.

The home’s modern interior features a remodeled kitchen with a built-in bar, Subzero fridge, Bosch dishwasher and Viking oven – perfect for cooking his typical breakfast: a flank steak with egg whites, green salad, and a side of meatballs.

The living room opens to the backyard, which has an outdoor lounge area with a pool, hot tub, fire-pit, built-in barbecue and dog run (perfect for the pack master!). The master suite includes a large walk-in closet and dressing area, and a bathroom with a travertine shower and separate soaking tub.

Joe Manganiello HomeThe backyard faces the hillside and has tall fences for privacy, but there’s not much that Manganiello hasn’t already showed on-screen. In addition to baring it all on “Magic Mike,” the actor participated in a racy three-way on the new season of “True Blood.”

Manganiello purchased the home on April 19, under a trust called “National Residential Nominee Services,” managed by his business associate Barry Greenfield (they also have another trust called 3:59 Inc.).

What do you think of his new place? Is this where you pictured him living? Tell us in the comments!

The post Hunky “True Blood” Star Joe Manganiello Buys Mid-Century Modern Home in Los Angeles appeared first on Redfin Real Estate Blog.

Lance Armstrong Flips Home in Austin; Buys Home from His Former Lobbyist

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Lance Armstrong's Home

Armstrong bought this home in Austin, TX, and sold it six weeks later

Now that his cycling career is over, is Lance Armstrong turning to real estate? The disgraced cyclist bought a modern architectural home in Austin, TX, on April 10 for $4.34 million, only to sell it six weeks later to race car driver Bret Curtis. The final sale price hasn’t been disclosed yet, so it’s unclear if he made a profit, but the turnaround was fast, even for professional home flippers.

Armstrong hasn’t given up on Austin real estate. In late May he picked up another home owned by Ben Barnes, the former lieutenant governor of Texas and owner of The Ben Barnes Group, which Armstrong hired to look into steroid cop Jeff Novitzky in July 2010. Perhaps he visited Barnes’ home during that time and liked what he saw. The 7,200 square foot Mediterranean-style manse is located in the Old West neighborhood of Austin. It’s unclear how much he bought it for, but it is on the Travis County tax rolls for $2.7 million.

What do you think – is Armstrong making a new career in real estate? Would you hire him to flip your house?

The post Lance Armstrong Flips Home in Austin; Buys Home from His Former Lobbyist appeared first on Redfin Real Estate Blog.


Hilary Swank Won’t Give Up On Selling Her Home

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Hilary SwankThe star of “Million Dollar Baby” doesn’t give up easily. Today Hilary Swank relisted her Pacific Palisades, CA home for $9.495 million, after it expired from the Multiple Listing Service in May. Swank has been trying to sell the home since September, and hasn’t dropped the price yet.

According to property records on Redfin, Swank has owned the home for more than five years. She purchased it in March 2007 for $5.8 million, shortly after her divorce from actor Chad Lowe. Immediately following the divorce, she started dating her agent, John Campisi, but unfortunately they split last summer, which may be the reason for her move.

Hilary Swank HomeThe home is an ideal spot for Swank to get in shape for her upcoming Western, “The Homesman.” It comes with a gym, lap pool, and even an organic vegetable garden for fresh produce.

The Mediterranean-style mansion was built in 1928 and meticulously restored by architect Marc Appleton. It offers a lot of space for entertaining, from the expansive terrace with ocean views, to the state-of-the-art surround sound theater, to a cigar room/wine cellar. It is listed by Myra Nourmand, of Nourmand & Associates-BH.

Swank lives down the street from other famous Pacific Palisades residents, including John Mayer, Dan Aykroyd, and producer Charlie Lyons.

For more information and pictures of Hilary Swank’s home, visit Redfin.com.

The post Hilary Swank Won’t Give Up On Selling Her Home appeared first on Redfin Real Estate Blog.

Guest Post: Bill Gates Buys $8.7M Estate in Florida

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celebrity-house-pictures-logo

The following post is contributed by CelebrityHousePictures.com, a collection of aerial views of celebrity homes, celebrity home news and celebrity homes for sale.

 

The billionaire Microsoft mogul Bill Gates recently purchased a home in Florida. Most of us would be more than happy with Bill Gates’ house in Washington or any other celebrity home, but there are other reasons for the move. Apparently, Bill Gate’s daughter is an inspiring horse rider and her career has taken off, forcing the family to move part time to Florida. Before they purchased their new home they had been renting a home for 2 years totaling $1 million in rent.

Bill Gates Florida HomeThe Gates’ new home is fantastic, as one would expect. The home is situated on 4.8 acres accompanied by an amazing 20 stall horse barn. The home itself is over 7,000 square feet and includes four full bedrooms and four full bathrooms. The backyard is home to a gorgeous Spanish style tiled pool and relaxation area. The interior of the mansion is stunning and has an open air feel. The entire home has hand laid tile and Spanish styled entry cutouts throughout the home. The master bedroom has French doors that lead to the backyard and keep the home open and inviting. The master bath is exquisite with charcoal colored tile and a deep white bathtub.

Despite the property being 4 acres and located in a gated community, the price tag was relatively tame. Mr. Gates reportedly paid cash for the $8.7 million estate, and even recommended a 24 hour manned security officer at the entrance to the community. Of course, 8.7 million is pocket change to a man like Bill Gates who is estimated to be worth $66 billion. The views from any given room are fabulous and the home seems to be the perfect size for three of the luckiest people alive. Bill Gates’ daughter Jennifer has plenty of room to train and perfect her riding skills while mom and dad can enjoy themselves in their gorgeous new Florida home.

Celebrity House Pictures

For additional photos and information, visit the listing details page on Redfin.com.

The post Guest Post: Bill Gates Buys $8.7M Estate in Florida appeared first on Redfin Real Estate Blog.

Goldie Hawn/Kurt Russell Sell Malibu Home for $9.5M

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Goldie Hawn Kurt Russell HouseIt took a few years, but Goldie Hawn and Kurt Russell finally sold their Malibu beach home for $9.5 million. The couple first listed it in July 2011 for $14,749,000, and made many price cuts over the past few years, dropping it down to $9,950,000 on Sept 20, 2012. It looks like the final buyer was able to negotiate down, to $9,500,000.

The beachside home was extensively redesigned by Gus Duffy AIA to offer tranquil light-filled living spaces, a designer kitchen, an integrated entertainment system that includes a Creston media room, and a bedroom that opens to balconies and courtyards. The master suite has ocean views and a spa-inspired bath area with onyx surfaces. The grounds feature tranquil fountains, lush mature landscaping for added privacy, an expansive oceanfront patio with covered outdoor living room and fireplace, a fenced yard, and path across the sandy dunes. The home also comes with a detached two-room guest house!

For photos and additional details, check out the listing on Redfin.com.

The post Goldie Hawn/Kurt Russell Sell Malibu Home for $9.5M appeared first on Redfin Real Estate Blog.

Ryan Reynolds Lists Hollywood Hills Home for $1.599M

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Ryan Reynolds HomeRyan Reynolds has had some bad luck at the box office this week, with the flop of “R.I.P.D.” and “Turbo,” but he’s hoping his luck will change in the real estate market. The actor just listed the Los Angeles home that he has owned for almost six years. The two bedroom, 2.5 bath home just hit the market for $1,599,000, which is $116,000 LESS than Reynolds paid for it in 2007.

The home is directly across the street from the former home of Matthew Perry! Perry sold that home in February for $4,685,000. The two of them were neighbors for almost five years. The home is also down the road from where Scarlett Johansson lived before she married Reynolds in 2008. The two of them purchased a new home together, and ScarJo sold her bachelorette pad at a $3 million dollar loss. Unfortunately the marriage didn’t work out, and the two divorced in 2010.

It’s not the first time Reynolds has tried to unload his home. In 2009 he listed it for $1.9 million, only to pull it off the market six months later when it didn’t sell. He tried again July 2011, listing it for $1,690,000 – and then dropping the price by $91 grand – but that didn’t work either.

Now that the market is picking up – and he has found new love with Blake Lively – he’s trying to sell it again. The 1,789 square foot Hollywood Hills home is a private hideaway, located on a cul-de-sac, with an entrance through a walled and gated courtyard. The eco-friendly home comes with solar heating, a tank-less water heater, and a new roof. There are two wood-burning fireplaces…including one with a plush white rug in front of it. Like something out of a Ryan Reynolds movie. The living room opens up to a large courtyard with stunning mountain and city views.

Reynolds purchased the home from Greg Alterman, the founder of Alternative Apparel. Other celebs in the area include Charlize Theron, Jason Statham, and Selma Hayek.

What do you think of Ryan’s home? Where do you think he and Blake Lively will buy together?

The post Ryan Reynolds Lists Hollywood Hills Home for $1.599M appeared first on Redfin Real Estate Blog.

Shakira Lists Miami Mansion for $14.95 Million!

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Shakira Home FloridaShakira Isabel Mebarak Ripoll – known simply as Shakira – just listed her Miami Beach home for $14.95 million. “The Voice” judge purchased the home in 2001 for $3.38 million, under “North Bay Road Investments” trust – which she manages under her own name. She remodeled the home extensively in 2008, adding three bedrooms, 3.5 bathrooms, and nearly 2,000 square feet. That explains the $11.57 million dollar increase in price!

The home is located in the Bayshore area of Miami, down the road from the home Matt Damon is trying to sell, and a home that was formerly owned by Jennifer Lopez (which is also for sale).

It is described as a “Zen sanctuary” and comes with a state-of-the-art kitchen, a pool with a hardwood deck, a master bedroom with a nursery, guest quarters, and a gym (where she must have worked out to get that amazing post baby bikini body!). The exterior is all-white, with walls of glass that offer indoor/outdoor living space. The property has direct access to the bay and dock, perfect for taking the boat out directly from home.

It is listed by Benjamin Moss, Campins Company LLC. For additional information and photos, check out the listing on Redfin.com.

Do you think this means she’ll be moving in with her beau (and baby’s daddy) Gerard Piqué? Tell us in the comments!

The post Shakira Lists Miami Mansion for $14.95 Million! appeared first on Redfin Real Estate Blog.

Ellen and Portia Increase Price of Thousand Oaks Ranch by $2M

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Ellen and Portia RanchAfter only two weeks on the market, Ellen and Portia just increased the price of their equestrian estate by $2 million dollars, from $10.995 million to $12.995 million! It’s definitely not the first time the property has had a price change, but in the past the price has gone down. The couple first listed it in 2002 for $39.5 million…more than triple what it is now!

In 2008, after the real estate market crashed, they tried again – listing it for $10 million – but no one bought it. Perhaps the still-strong real estate market has encouraged the couple to increase the price and keep trying. The 26 acre ranch is located in Thousand Oaks, CA and includes eight farmhouse cottages, horse barns, stalls, trails, and a tennis court, among many features.

The estate was featured in Elle Décor in April. In the article Ellen shed a little light on why she and Portia own so many homes. “I can only change the furniture so much and I get bored,” DeGeneres said. “Then I need a new structure to work on.” It’s clear that buying homes to decorate is a passion of theirs. Ellen and Portia have bought and sold several homes over the past year, including a $26.5 million dollar Montecito mansion they purchased in May, and a penthouse in Beverly Hills that’s about to sell for around $899,000.

For more information on Ellen and Portia’s ranch, including all the gorgeous photos, check out the listing on Redfin.com.

The post Ellen and Portia Increase Price of Thousand Oaks Ranch by $2M appeared first on Redfin Real Estate Blog.

Wayne Gretzky Sells Arizona Home for $2,875,000

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Gretzky Scottsdale homeHockey legend Wayne Gretzky just sold his Scottsdale, AZ retreat for $2.875 million, which is $520,000 less than what he was asking for when he listed it on June 28. Looks like the buyer was able to negotiate down! Gretzky has owned the estate since 2003, when he purchased it for $1,737,450.

The Mediterranean-style home sits on more than an acre in the secluded, gated community of Arcadia. It has stunning views of Camelback Mountain, a popular destination for hiking and rock climbing. It’s close to restaurants and shopping in Scottsdale, which is known as the Beverly Hills of Arizona.

The home is a desert oasis, with a large pool and outdoor entertaining area that includes a built-in barbecue, fire pit, and covered patio. The main residence comes with three bedrooms and 3.5 baths, and there’s a separate guest house with one bedroom and one bath. Gretzky’s office has soaring, wood-beamed ceilings, and the kitchen has top-of-the-line appliances. The master bedroom has a sitting area, walk-in closet, and an accompanying bath with a giant, two-person bathtub with jets.

Gretzky and his wife, Janet Jones, used the property as a vacation home, but have been spending a lot of time in Southern California, which may be the reason they put the home on the market. Other professional athletes with homes in Scottsdale include NBA players Raja Bell and Steve Nash.

For additional photos of the home, check out the listing on Redfin.com.

The post Wayne Gretzky Sells Arizona Home for $2,875,000 appeared first on Redfin Real Estate Blog.


SOLD: Mario Van Peebles’“Tree House” in the Hollywood Hills

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Mario Van Peebles HomeMario Van Peebles, the co-star of “Damages” and director of “Sons of Anarchy,” just sold his home in the Hollywood Hills for $1.225 million. Van Peebles has been known as an “eco-warrior” ever since he starred in a reality TV show called “Mario’s Green House,” where he and his family retrofitted another home in Los Angeles to be more eco-friendly.

It’s unclear if Van Peebles did extensive renovations on this Hollywood Hills home to make it more green, but the listing photos suggest he furnished it with reclaimed and recycled furniture and building materials. The home was built in 1961 and has four bedrooms and 3.75 baths. Van Peebles has been trying to sell it since October 2012, when he first listed it for $1,675,000.

The property is set among the woods in a private, serene location. The main residence spans 3,500 square feet, and there’s a guest house that’s around 1,000 square feet. Details include a custom wood front door that lends to the “tree house” feel, mosaic tile accents, and a large outdoor brick patio with a built in barbecue.

For additional details and photos of the home, check out the listing on Redfin.com.

The post SOLD: Mario Van Peebles’ “Tree House” in the Hollywood Hills appeared first on Redfin Real Estate Blog.

Home of (Now Bankrupt) CNET Founder Halsey Minor Hits Market for $14.95M

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Halsey Minor LA HomeHalsey Minor, the co-founder of CNET, was once worth more than $200 million dollars, but is now bankrupt, thanks to his affinity for fancy homes, horse races, and art. Court documents show that Minor owes as much as $100 million, but has no more than $50 million with which to pay his debts. As part of his Chapter 7 bankruptcy, all of his assets are being handed over to a court official who will sell them to the highest bidder. That includes his property in Los Angeles, which just hit the market for $14.95 million.

Minor purchased the home for $20 million on March 3, 2006, a few years before he sold CNET to CBS. It sits on more than three quarters of an acre in Bel Air and comes with unobstructed city-to-ocean views. The home was built in 1964, by famed architect Richard Dorman. According to the listing, it “needs complete restoration and remodel.” Potential buyers are encouraged to bring their contractors.

Minor tried to sell the home in May 2008 for $12.9 million, but was unsuccessful, and dropped the price to $11.4 million in September 2008. When that didn’t do the trick, he delisted it. He tried again a few years later, on April 15, 2010, listing it for $8.995 million, but five months later, it was pulled off the market once again.

For additional photos, check out the listing on Redfin.com.

The post Home of (Now Bankrupt) CNET Founder Halsey Minor Hits Market for $14.95M appeared first on Redfin Real Estate Blog.

Ellen & Portia Sell Beverly Hills Condo for $843,900

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Ellen and Portia CondoEllen DeGeneres and Portia de Rossi have a hobby most can only dream of; buying homes so they can fill them with beautiful furniture and décor. Once they’re bored with decorating the home, they often put it on the market. That was certainly the case with the Thousand Oaks ranch that they recently listed, which has been featured in Elle Décor and Architectural Digest. But the Beverly Hills penthouse they just sold for $843,900 may be the exception.

Even though it’s a corner penthouse, the furniture and décor – which you can see in the listing photos – doesn’t have the same pizzazz as Ellen and Portia’s other homes. It’s likely the couple purchased the condo as a convenient place to stay when filming TV shows and movies, or it could be a home for a family member. The 1,683 square foot condo was built in 1985 and has two bedrooms and two baths. Amenities include a doorman, valet parking, security, gym, pool, spa, and club room.

The couple first listed the condo on June 12 for $899,000, which means the buyer must have negotiated down to the final sale price of $843,900. The couple purchased the home in 2010 for $835,000, under the name of their business manager Harley J. Neuman. For more photos and information, check out the listing on Redfin.com.

The post Ellen & Portia Sell Beverly Hills Condo for $843,900 appeared first on Redfin Real Estate Blog.

Bank Reduces Price of R. Kelly’s Foreclosed Home

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RKellyHomeJP Morgan is having a tough time selling the sprawling, 14,500 square foot mansion once owned by R. Kelly. The bank, which was the lender on the property, purchased the Olympia Fields, IL home in March at a foreclosure auction for $950,000, a far cry from the $5 million it was once thought to be worth. On July 16 the mansion was listed for $618,000, and today it dropped in price by $31,000 to $587,100.

R. Kelly had stopped making payments on the home for a year when JP Morgan sued him for $2.9 million. Kelly’s camp claimed that the singer stopped paying on purpose in order to get a loan modification; at that point the home was worth much less than when Kelly bought it in 1999, when it was valued at $5.2 million.

Kelly listed the home as a short sale in October 2011 for $1,595,000, and tried dropping the price to $995,000 in January 2013, but couldn’t find a buyer. JP Morgan was the sole bidder on the property at the foreclosure auction this March.

Listing photos indicate that some parts of the home have fallen into disrepair, including the basketball court, which now has weeds growing through it. Some evidence of Kelly’s ownership remains, including a room with a Chicago Bulls logo painted on the floor. Kelly is a huge fan of the Bulls, especially after his mega-hit “I Believe I Can Fly” was featured in “Space Jam” starring Michael Jordan.

The other home that Kelly owned in Chicago — where the video that got him into legal trouble was filmed — sold for a million dollars in 2008. The buyer completely rehabbed it and sold it in 2011 for $2,640,618.

What do you think of the home JP Morgan is trying to sell? Would you buy it? Tell us in the comments!

The post Bank Reduces Price of R. Kelly’s Foreclosed Home appeared first on Redfin Real Estate Blog.

Celebrity Real Estate Roundup: Katy Perry, Jeremy Renner, Evan Williams and Jamie Moyer

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Katy Perry may have found a buyer for her Los Angeles home, Jeremy Renner made a fortune on a house flip, Twitter co-founder Evan Williams had no trouble selling his San Francisco home, while MLB pitcher Jamie Moyer can’t seem to unload his. Read on for details!

Katy Perry

8159 Hollywood, Los Angeles, CA 90069Katy Perry Home Interior
Price: $6,495,000
Beds: 7
Baths: 9
Listed by: Ernie Carswell, Teles Properties, Inc.

Katy Perry may have finally found a buyer for the home she purchased with Russell Brand in 2011. Perry has been trying to sell the home since the beginning of this year. She originally tried to sell it under a pocket listing, but when that didn’t work she put it on the MLS on April 8 for $6,925,000. A few months later she chopped the price by $500,000, to $6,495,000. That must have done the trick, because now a sale is pending on the home.

Perry and Brand purchased the home in June 2011 for $6.5 million, so if it sells for the asking price, she’ll lose money on the home. The 8,835 square foot Los Angeles home has seven bedrooms and nine baths. It sits on nearly three acres, with views of the L.A. skyline. It comes with two guest houses, a lagoon-style pool with a waterfall, lush landscaping, and large hedges for privacy. The home was built in 1921 and has many unique details, including rod iron fixtures, curved ceilings, intricate tile, detailed woodwork, and art glass windows.

Jeremy Renner

107 North Delfern Dr, Los Angeles, CA 90077Jeremy Renner Home Interior
Price: $24,000,000
Beds: 6
Baths: 9.5
Listed by: Rayni Romito, Hilton & Hyland

When he’s not starring in action movies like “The Bourne Legacy,” “Mission Impossible – Ghost Protocol,” and “The Hurt Locker,” Jason Renner is flipping homes with his business partner, interior designer Kristoffer Winters (who also appeared in “Hurt Locker”). Last year Renner told Esquire magazine that since 2002, he and Winters have “bought and sold more than fifteen houses, each time slightly bigger, each time slightly braver.”

This flip was brave, but it paid off; Renner purchased the home on August 13, 2010, for $7 million, and it just sold for $24 million. The listing describes the home as “fit for a 21st century Howard Hughes.” It was completely remodeled by Renner and Winters, and has a Gatsbyesque -vibe, with antique-looking tile, intricate ceilings, a built-in bar and 20′s-style art and furniture. It is located in a prestigious Bel Air neighborhood and has 6 bedrooms, 9.5 baths, and spans more than 10,000 square feet.

Evan Williams

313 Duncan St, San Francisco, CA 94131Evan Williams Home in San Francisco
Price: $3,200,000
Beds: 5
Baths: 5.5
Listed by: Eric Turner, McGuire Real Estate

Evan Williams, the co-founder of Twitter, had no problem selling his home in San Francisco. Williams first listed it on July 12, 2013 for $2,995,000, and a sale was pending just a few weeks later, on July 23. It officially sold on August 16, for $3,200,000 – that’s $205,000 over the asking price!

The home was built in 1900 and features a Victorian-style façade, which opens to a new, high-end, upgraded interior. Unique touches include roof-mounted solar panels, a rooftop deck with views of the city, and a separate guest house.

Jamie Moyer

2550 40th Ave W., Seattle, WA 98199Jamie Moyer Home
Price: $3,999,999
Beds: 7
Baths: 4.5
Listed by: Christine Doucet, Realogics Sotheby’s Int’l Rlty

Former Seattle Mariners pitcher Jamie Moyer is having a tough time selling his home in Magnolia. He recently dropped the price by $400,000, from $4,400,000 to $3,999,999. And it’s not the first time this home has seen a price drop. Moyer first listed it in 2010 for $7.8 million, and then reduced the price by more than a million dollars in 2011, to $6.75 million. In 2012 he listed it for even less: $5.35 million. About five months later he reduced the price again, to $4.85 million. But when that didn’t work, he pulled it off the market, only to relist it on May 12, 2013, for $4.4 million.

Moyer purchased the Tudor-style home on Sept. 17, 2001, for $2,805,000. It was built in 1933 and retains many original features, including intricate parquet floors, carved oak wainscoting, coved plaster walls and leaded glass. Modern touches include a home theater, a dining room with multiple TV screens, a pool and spa, and built-in barbecue. There’s also a batting cage, so Moyer can practice his swing. The home spans 7,100 square feet and has seven bedrooms and 4.5 baths. It is surrounded by soaring hedges, offering plenty of privacy.

That’s the latest news on celebrity homes for sale. Which home is your favorite? Tell us in the comments!

The post Celebrity Real Estate Roundup: Katy Perry, Jeremy Renner, Evan Williams and Jamie Moyer appeared first on Redfin Real Estate Blog.

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