Reese Witherspoon Reduces Ojai Estate By Another $1.3 Million

    Posted by Cristin  |  October 14, 2013  |  7:48 am  |  Tags: , , , , , , , , , ,

    Wikipedia

    Reese Witherspoon

    Ojai, CA

    Most Known For

    Winning Academy Award for Best Actress for Walk the Line and starring in all Legally Blonde films

    Home Stats

    9-bedroom, 6.5 bath, 7-acre property

    Price

    $5,900,000

    Reese Witherspoon may be one of America’s most beloved actresses, but she’s not feeling the love in the real estate game. After a year on the market and numerous price reductions, she just reduced the price of her rustic-style Ojai, CA retreat by another $1.3 million, bringing the new asking price to $5.9 million.  The new price is much, much lower than the $10 million she was originally asking for the estate.

    While pregnant with her third child, the retreat made headlines when Witherspoon and this Ojai home appeared on the cover and in a full length spread in the September 2012 issue of Elle Décor. That month, it officially came on the market with a $10 million dollar price tag and a splashy feature story in The Hollywood Reporter.

    The home first made headlines in March 2011, when Witherspoon married second husband Jim Toth in front of a group of A-list guests on the grounds of the estate. Months later, rumors swirled that Witherspoon offered the Ojai home to her Water For Elephants co-star Robert Pattinson as an escape from the media during his ex-girlfriend Kristin Stewart’s affair scandal.

    While this country retreat has gotten all the media exposure one would think it would need to sell, Witherspoon is still struggling to find a buyer. After numerous price chops, Reese is now asking just $100,000 more than the $5.8 million she paid when she purchased the property from prominent interior designer Kathryn Ireland in 2008.

    Since then, Witherspoon has renovated the space, clearly adding tremendous value, but she won’t get much more than she originally paid and will likely lose money on the deal.

    Built in 1923 and hidden away in the Ojai Valley hills, the vacation retreat was originally designed by architect Wallace Neff as a barn, later turned to an actual home in the 1940’s by architect Austen Pierpoint. The Spanish architecture gives the home tons of personality and allows for a true getaway. The rustic, century-old designs comes alive with the stone-lined hallways and wood beamed ceilings. A cool and relaxing ambiance surrounds the space as natural light graces each room and views of the hills can be seen throughout. In the recent issue of Elle Decor, Witherspoon nicknamed the home “Libbey Ranch” and describes it as “meditative and restorative,” like “having a little bit of Tennessee in California.”

    With four bedrooms and three and a half baths, the 5,000 square foot main home seems minuscule on the seven-acre property, yet horse stables, three guest cottages, a carriage house and swimming pool take up the remainder of the land - perfect for a large family to relax and escape to a quiet, country vacation.

    Gregg Leach of Village Properties now has the listing.

      Mark Zuckerberg Secretly Spends $30 Million On Neighbor’s Homes To Maintain Privacy

      Posted by Cristin  |  October 11, 2013  |  4:10 pm  |  Tags: , , , , , , ,

      Crunchbase

      Mark Zuckerberg

      Palo Alto, CA

      Most Known For

      Facebook CEO

      Home Stats

      3 adjacent properties

      Price

      $30,000,000

      Facebook CEO Mark Zuckerberg may oversee a company with information about more than a billion people worldwide, but when it comes his own life, privacy is paramount.

      According to property records uncovered by the San Jose Mercury News and confirmed by Trulia, the Facebook CEO spent $30 million over the last 10 months to buy three of his neighbors’ homes.

      With a $19 billion dollar net worth, the collective $30 million was just a drop in the bucket for Zuckerberg, who doesn’t intend to raze the homes adjacent to the one he paid $7 million for in March 2011 and build a massive compound. Instead, he’s taken ownership of three properties and will simply rent the homes back to the current residents.

      Word is that the deals started to go down when Zuckerberg caught wind that a developer planned to buy a neighboring home and charge a premium for the home by marketing it as being “next to Mark Zuckerberg.” To squash that deal, Mark simply bought the house instead.

      Zuckerberg’s recently-revealed purchases not only stopped that one slimy developer from profiting from being Zuckerberg-adjacent, but it also ensured that Mark and his wife Priscilla Chan won’t face that issue again. For one particular property, Zuckerberg had to really pony up, likely because the seller didn’t want to sell or knew Mark was motivated and had the funds. He paid $14.5 million for a home with a market value of about $3.2 million dollars.

      The properties are all held in generically-named LLCs tied back to Zuckerberg’s money manager at Iconiq capital.

      Zuckerberg also owns a home in San Francisco that is currently undergoing extensive upgrades.

      Images via Google.

        Katy Perry Still Can’t Sell Russell Brand Love Nest, Price Chops Home By Another $500k

        Posted by Cristin  |  October 7, 2013  |  10:07 am  |  Tags: , , , , , , , , , ,

        Jason Merritt/Getty

        Katy Perry

        Hollywood Hills, CA

        Most Known For

        Pop songstress with a tabloid-worthy personal life

        Home Stats

        7 bedrooms, 9 bathrooms, 8,835 square feet, pool

        Price

        $5,988,000

        Poor Katy Perry!

        She just can’t seem to be able to leave the past behind and sell the Hollywood Hills home she intended to share with then-husband Russell Brand before their divorce. After a massive price cut this summer, she has just price-chopped the home for a second time!

        Katy Perry is ready to close the door on that part of her life, even if it means losing a ton of money in the process. In a revealing article in the June 2013 issue of Vogue, Perry revealed that Brand told her he wanted a divorce via text message. With that kind of ending, no wonder Perry wants out of the home that she and Brand had intended to make their happy home. After slashing the price on their former home by $430,000 in June, Perry has axed another $507,000 from the asking price, bringing the new price to $5,988,000 – $512,000 less than what she paid for it!

        Purchased by the songstress on June 24, 2011 for $6,500,000, Perry intended to make the 3-acre estate compound near the famed Chateau Marmont her and then-husband Russell Brand‘s marital love nest. Amid rumors of an impending divorce and before the moving vans could even get in the front gates, the duo split for good – and the home remained vacant. Perry was reportedly secretly hoping to find a buyer for her unlucky love nest without having to officially list the home for sale. Perhaps she was asking too much money or people just didn’t want the bad juju associated with the home, but Perry couldn’t find her buyer with a pocket listing. She officially listed it April 2013 and has been desperate to part with it ever since. Still without a buyer, Perry is discounting the home yet again, in hopes that an even lower price will entice someone to make an offer.

        The home, dubbed “Park Hill,” was built in 1921 and is comprised of a significant Mediterranean residence with two-story grand entry that continues into two-story living room overlooking all of Los Angeles and the city’s dramatic skyline.

        The property has a separate two-story guest house that was formerly a caretaker’s apartment on the lower level and a Carriage House on the second level for auto storage. In 2004, another guest house was built and could be used as a private residence, as it comes complete with a bedroom, kitchen and bathroom.

        The lushly landscaped backyard has a lagoon-style pool with waterfall and small bridges. Adding to the allure of this property, the home neighbors Frank Lloyd Wright’s famed Storer House.

        Perry has since moved on a romance with John Mayer and on the real estate front, she’s also moved on to a two-home compound that she purchased for $11 million.

          Ellen and Portia Sell High Priced Equestrian Estate In Just Six Weeks

          Posted by Cristin  |  September 12, 2013  |  3:58 pm  |  Tags: , , , , , , , , ,

          Lara Porzak Photography via Getty

          Ellen Degeneres & Portia de Rossi

          Thousand Oaks, CA

          Most Known For

          Daytime talk show host and beautiful actress; Real estate aficionados

          Home Stats

          8 bedrooms, 10.5 bathrooms, 26.29 acres

          Price

          $10,580,000

          Ellen Degeneres and Portia de Rossi have sold their Thousand Oaks equestrian estate just six weeks after listing it.

          First listed for $11 million, the duo must have had oodles of interested parties, because they quickly upped the asking to $12.995 million. Now, the home is under contract with a buyer, as first reported by Curbed and confirmed by the listing agent, Suzanne Perkins. The Los Angeles Times is reporting that the sale price is $10.85 million.

          Nestled at the foot of the Santa Monica Mountains in Thousand Oaks, CA, Ellen and Portia’s former property is comprised of 26 acres that include a unique compound of vintage barns, charming guest cottages and state-of-the-art equestrian facilities. Two large barns serve as the social hubs of the property and are ideal for entertaining. Four private cottages provide modern convenience and farmhouse charm. A stable has six double stalls, grass and sand turnouts, a dressage arena and judging stand. The property also features a tennis court and windmill. Additionally, incredible landscape lighting washes majestic oaks, pines in pools of light and cottage paths appear magically at night.

          A mere 50 minutes from Ellen and Portia’s $17.4M main residence in Los Angeles, this property was the ideal escape for the hard-working duo.

          Don’t worry about Ellen and Portia being without a proper vacation home. Just before they put this ranch on the market, they scooped up a mansion in Montecito, CA for $26 million.

          In the past couple years, Ellen and Portia have kept their real estate agent on speed dial. They sold a penthouse in Beverly Hills, flipped Brad Pitt’s Malibu bachelor pad, and sold their massive Beverly Hills compound to Ryan Seacrest. Expect more news from these real estate aficionados sometime soon.

           

           

            SOLD: Exes Paul Wesley and Torrey DeVitto Snag A Buyer and Make Major Profit On Former Marital Home

            Posted by Cristin  |  September 9, 2013  |  1:33 pm  |  Tags: , , , , , , , , , ,

            Gustavo Caballero/Getty

            Paul Wesley & Torrey DeVitto

            Most Known For

            He's best known for playing Stefan Salvatore on Vampire Diaries and she's known for her TV work in Army Wives and One Tree Hill

            Home Stats

            3 bedrooms, 2.5 bathrooms, 3,262 square feet

            Price

            $1,734,020

            There’s a silver lining in Paul Wesley and Torrey DeVitto’s divorce story. The actor and actress exes just closed on the sale of their former martial home in the Hollywood Hills – and they got $139,000 OVER their asking price.

            Property records show that the home closed on September 6, 2013 for $1,734,020. They were asking $1,595,000 when they listed it in early August. The timing may not have been right for their relationship, but when it comes to the housing market, it was spot on. Shortly after placing the home on the market following their divorce announcement, it quickly went into escrow and closed a month later.

            After meeting in 2007 and marrying in a private ceremony in New York City in April 2011, Wesley and DeVitto purchased the home together on December 29, 2011 for $980,000. While their marriage may be kaput, they can at least smile about the $754,000 profit they made on the home sale.

            Sold to an unknown buyer, the Wesley and DeVitto’s former home is a fully restored 20?s Mediterranean Villa perched above Beachwood Canyon with hedged perimeter for absolute privacy. The interior has a large rotunda entry, gorgeous vintage tile floors, a top-of-the-line kitchen, beamed ceilings and stone counters.

            Upstairs, the large master retreat is separated from the 2 additional bedrooms, which share a vintage-style bathroom. Outside, French doors open to a large flagstone, canyon-view terrace with fountain and garden areas.

            Peter Maurice of Rodeo Realty – Beverly Hills represented Wesley and DeVitto in the sale and Boni Bryant of Sotheby’s International Realty was the buyer’s agent.

            Images with the MLS.

              Drew Barrymore Drops The Price Of Her Marital Montecito Mansion By $600,000!

              Posted by Cristin  |  September 9, 2013  |  8:19 am  |  Tags: , , , , , , , , ,

              People.com

              Drew Barrymore

              Montecito, CA

              Most Known For

              Child actress turned full-blown adult star; currently focused on motherhood and her beauty line, Flower.

              Home Stats

              6 bedrooms, 7.5 bathrooms, a separate guest apartment, expansive lawns, site of her 2012 nuptials

              Price

              $6,900,000

              In an effort to sell the stunning Montecito mansion she married at last year, Drew Barrymore has just priced chopped the estate by $600,000.

              Originally listed for $7.5M in May 2013, Barrymore never found a buyer during the hot and heavy summer buying season. As summer turns to fall, Barrymore needed to bring the asking price down to attract a potential buyer.

              In the summer before she hoisted the home on the market, Barrymore hosted a modest 190-person backyard wedding at this home to her art consultant husband Will Kopelman. In early June 2010, before she met Kopelman, and likely before she was marriage-minded, Barrymore purchased the home for $5,705,000.

              The estate is a gorgeous 1937 traditional home on approximately two acres of secluded, lush grounds. The classic two-story estate features 6 bedrooms, 7.5 bathrooms, a separate guest apartment and ample parking. A walking path winds through the abundant gardens, citrus and avocado trees and expansive lawn to create a one-of-a-kind setting.

              While Montecito is a chic and highly desired celebrity real estate enclave, sales prices are down about 7.9% in the last quarter, so Barrymore and her wealthy neighbors are all having trouble selling.

              Suzanne Perkins of Sotheby’s holds the listing.

                Rupert Murdoch Officially Buys Bel Air Vineyard Estate For $28.8 Million

                Posted by Cristin  |  August 29, 2013  |  9:06 am  |  Tags: , , , , , , , ,

                Forbes

                Rupert Murdoch

                Bel Air, CA

                Most Known For

                Newscorp chairman and legendary businessman

                Home Stats

                3 bedrooms, 4.5 bathrooms, 7,500 square feet, pool, winery

                Price

                $28,800,000

                Newscorp Chairman Rupert Murdoch has officially purchased a 13-acre winery and mansion in Bel Air, California. Property records and the Los Angeles Times show that Murdoch paid $28.8 million for the property, which was listed earlier this year at $29.5 million.

                His new acquisition is an award-winning winery and elegant main residence that make up the historic Moraga Vineyards Estate. Hidden away in the heart of Bel Air, the property has a 7,500-square-foot main residence with 3 bedrooms, 4.5 bathrooms, a guesthouse and a swimming pool.

                The property’s winery operations include an on-site wine cave with significant wine inventory and a 4,400 sq ft office building, currently used as the winery sales office, within 1/2 mile of the property.

                Aside from his Newscorp duties, 82-year-old Murdoch is chief executive of 21st Century Fox. According to media reports, the billionaire media mogul’s name has been floated around as a potential buyer for the Tribune Co. newspaper company, which includes the Los Angeles Times and Chicago Tribune.

                Outside the boardroom, Murdoch is currently experiencing some personal woes. He and his wife Wendy Deng Murdoch split after 14 years of marriage. Many thought the divorce would be quick and easy due to an iron-clad prenuptial agreement, but Ms. Deng has recently hired a new high-powered divorce attorney, William Zabel, suggesting that the divorce proceedings have taken an acrimonious turn.

                 

                 

                Jim Kline of Surterre Properties Inc. represented the sellers and Murdoch was represented by Delphine Mann of Coldwell Banker-BH North.

                 

                  Bruce Willis Chops $2 Million Off Asking Price of Beverly Hills Hacienda

                  Posted by Cristin  |  August 27, 2013  |  8:13 am  |  Tags: , , , , , , , ,

                  Gage Skidmore via Wikipedia

                  Bruce Willis

                  Beverly Hills, CA

                  Most Known For

                  Action movie star of hits like "Die Hard" and "Armageddon" and others

                  Home Stats

                  11 bedrooms, 10,379 square feet, pool

                  Price

                  $19,995,000

                  In a housing market that’s going up, up, up, actor Bruce Willis is having a hard time selling his Beverly Hills mansion. Originally listed for $22 million in May 2013, Willis just chopped $2 million off the asking price of his sprawling, gated Beverly Hills hacienda.

                  Willis slashed the price of the home in hopes that a lower price can get the deal done and he and wife Emma Hemming can fully enjoy East Coast life in their chic condo in New York City.

                  Property records we peeped show that Willis paid $9 million for the estate way back in June 2004, when he bought the pad from movie industry titan Alan Ladd Jr.

                  The 1928 Spanish-style residence sits on about an acre acre of flat land in a prime section of lower Beverly Hillsand has 11 bedrooms and 11 bathrooms spread out over 10,379 square feet of interior space that also includes a state-of-the-art screening room, his & hers bathrooms and two staff rooms. Outside, a large pool, tennis courts and the surrounding areas are an entertainer’s paradise.

                  Branden Williams of Hilton & Hyland is the listing agent.

                    Peter Facinelli and Jennie Garth Sell Toluca Lake House For Nearly $4 Million Following Divorce

                    Posted by Cristin  |  August 19, 2013  |  11:22 am  |  Tags: , , , , , , , , , ,

                    Jason Merritt/Getty Images

                    Jennie Garth & Peter Facinelli

                    Toluca Lake, CA

                    Most Known For

                    "Twilight" actor who was once married to the "90210" and "What I Like About You" actress

                    Home Stats

                    7 bedrooms, 9 bathrooms and 8,416 square feet, pool, gated

                    Price

                    $3,990,000

                    “Twilight” star Peter Facinelli and his ex-wife, actress Jennie Garth, have sold their home in Toluca Lake for $3.99 million to “The Big Bang Theory” co-creator Bill Prady.

                    A year after filing for divorce and just a month before their divorce became final, Facinelli and Garth were able to agree on one thing together – to accept the offer from Prady that was $2,640,000 more than the $1.35 million Facinelli and Garth purchased the home for in 2003.

                    According to property records first discovered by the Los Angeles Times, the deal closed on May 1, 2013.

                    The traditional home was built in 1937 and has 7 bedrooms, 9 bathrooms and 8,416 square feet of living space that includes formal living and dining rooms, his-and-hers offices, a bar and game room, kitchen with a fireplace, two master bedroom suites, gym and media room.

                    The gated property contains an expansive five-car garage, an outdoor kitchen area and a swimming pool.

                    Andrew Manning of Prudential California Realty and Garth’s mother, Carolyn Garth of Sotheby’s International Realty were the listing agents. Caroline Fleck of Coldwell Banker’s Beverly Hills South office represented the buyer.

                     

                     

                     

                     

                      CNET Founder, Halsey Minor, Sings Bankruptcy Sale Blues as LA Estate Hits Market for $14.9 Million

                      Posted by Daisy  |  August 15, 2013  |  11:13 am  |  Tags: , , , , , , , , ,

                      Bloomberg.com

                      Halsey Minor

                      Los Angeles, CA

                      Most Known For

                      Founding CNET and blowing a multi-million dollar fortune

                      Home Stats

                      7,479-square-foot Mid-Century mansion with four bedrooms and six bathrooms

                      Price

                      $14,950,000

                      To quote the immortal lyrics of The Notorious B.I.G., we’ve got another unfortunate case of “Mo Money, Mo Problems.”

                      The 1990s and 2000s were good years for Halsey Minor. He founded CNET in 1993, turning it into one of the Internet’s first profitable companies, then sold it to CBS for $1.7 billion in 2008. But by comparison, the last few years haven’t been quite as stellar. Minor was named #1 on the state of California’s list of top 250 delinquent taxpayers in 2012, with unpaid taxes estimated at $10,711,699.29. And in May of this year, he filed for Chapter 7 bankruptcy. Allegedly, the former multi-millionaire owes more than $100 million and only has $50 million on hand to cover his debts.

                      Now, as a likely part of that filing, Minor’s 7,479-square-foot mansion in Los Angeles has hit the market for $14,950,000 as a bankruptcy sale — that’s about $5 million less than what he purchased it for in 2006.

                      Located in lower Bel Air, this gated home sits on a cliff with unobstructed, panoramic city and ocean views. The four-bedrooms, six-bathroom home was originally designed by famed Mid-Century architect Richard Dorman and built in 1964 — but move-in ready, it is not. According to the listing, the home has come into disrepair. So if you’re looking for a contemporary estate in a prime location in Los Angeles to fix up, look no further.

                      Side Note: Minor also owns an 18,000-square-foot, eight-bedroom, seven-bathroom home in San Francisco’s prestigious Presidio Heights neighborhood that’s also currently for sale for a cool $21 million. That home was modeled after Marie Antoinette’s Le Petit Trianon in Versailles — but like his Los Angeles home, it’s also in a pretty bad shape.

                      Images via the MLS.