Since the economy has taken a dive, some very big celebrities are realizing their lavish estates just aren’t worth as much as they used to be. In fact, now might be the best time in history to buy the extravagant former home of one of your favorite stars. Here are some of the celebrity palaces that have recently been put on the real estate clearance rack:
Eddie Murphy’s 32-room manor in Englewood, New Jersey, which he calls Bubble Hill, has been on the market for $30 million for five years without a sale, so last month Murphy slashed the price of the property, which boasts a bowling alley, indoor pool, elevator, full-size racquetball court, theater, and recording studio, in half, to $15 million. So far, no buyers, though — maybe because the annual taxes alone total $197,723!
If you’re in the market for something a little more reasonable, Whitney Houston has also cut the price of her NJ estate, where she married Bobby Brown, in half, from $5.6 million to $2.5 million. For the famous 12,561-square-foot gated property, that’s practically a steal!
Most recently, blockbuster star Nicolas Cage has found himself in “catastrophic” financial circumstances, which the actor attributes to a shady money manager, whom he is suing. Cage has already sold off his castle in Bavaria, but you can still own his houses — worth approximately $3.5 million each — in New Orleans, where they both go up for auction on November 12. Cage is also selling off properties in Las Vegas and Los Angeles.
Hopefully, these celebrities won’t face the same embarrassing fate as some stars did last summer, when a spate of big names like Victoria Gotti, Jose Canseco, and Damon Dash had their residences foreclosed upon by banks.
Well…. maybe these guys didnt hire the right Realtor. When it comes to hiring a Realtor, be choosy and pick the best.