Celebrity Real Estate Woes of 2011
By Colleen Kane, CNBC.com
Live like a celebrity
Some celebrities, like "Malcolm in the Middle" star Frankie Muniz and the cast of "Friends" seem to be constantly buying and selling properties. But famous or not, it's not so easy for everyone to sell.
It could be the market and the economy. Maybe specific properties have specific reasons they aren't selling: staging issues, odd choice of décor, massive size or perhaps outrageous cost.
Or maybe there's a glut of luxury homes mostly in the L.A. area that are too similar-so many of them are Spanish, vaguely Mediterranean in style, in a gated community, decorated in neutrals, with pool, spa, home theater, fitness room, wine cellar, guest house and so forth.
Other celebrity real estate headaches this year include a lawsuit-entangled property involving water damage.
Here's a look at 5 palaces on the market, with photos provided by Trulia.com.
See the full slideshow of 10 Celebrity Real Estate Woes
Hilary Duff
Location: Toluca Lake, Calif.
Price: $6,250,000
Bedrooms: 5 Bathrooms: 6
Square Footage: 9,277
"Lizzie McGuire" star Hilary Duff and hockey-playing husband Mike Comrie are expanding the family, which is sometimes the catalyst for moving, although there seemed to be no shortage of space in this house . The Mediterranean-style property was first listed in 2010 for $7 million, and is still on the market at the reduced price of $6.25 million. It was built in 1951, but has recently been updated with some rather nontraditional décor. The kitchen has an almost Steampunk look, with steel mesh cabinetry, an abstract retro-modern light fixture over the riveted island and golden animal-leg sculptural accents.
Kate Walsh
Location: Los Angeles
Price: $3,995,000
Bedrooms: 4 Bathrooms: 6
Square Footage: 5,940
The star of "Grey's Anatomy" and "Private Practice" bought this Spanish-style Los Feliz-area home in 2007 with her then-husband Alex Young for $4.295 million and has been trying to sell it this year for significantly less but has had no luck in the first few months. In addition to having fireplaces in the master bedroom, living room and den, the 1928 property has a three-room guesthouse with two offices, a Pilates studio and a gym.
Mary J. Blige
Location: Saddle River, N.J.
Price: $12,500,000
Bedrooms: 8 Bathrooms: 8 full, 3 partial
Square Footage: 18,250
MJB's pad, which has been on the market for more than six months, is near Diddy's neighborhood, just over the George Washington Bridge from upper Manhattan. Why choose a location across the river from the big city? Maybe it's because she likes to spread out: Blige's Country French manor is the largest mansion in this slideshow, containing an indoor basketball court, a movie theater that seats 14, a wine tasting room, a fitness center. Its four-acre property also has a swimming pool and full- service cabana.
Britney Spears
Location: Calabasas, Calif.
Price: $4,499,000
Bedrooms: 7 Bathrooms: 7
Square Footage: 10,300
There's always something going on with that Britney Spears, and recent rumors surround her possible new Thousand Oaks home . But she has another house in Calabasas that's been on the market in 2011. Despite the cachet of being owned by a troubled pop star and despite the gimmicky auction start time of 11:11 a.m. on 11/11/11 with the opening bid set drastically below the previous price of $10.8 million, it didn't sell.
Lauren Conrad
Location: Los Angeles
Price: $2,250,000
Bedrooms: 4 Bathrooms: 3 full, 1 partial
Square Footage: 3,009
Reality star Lauren Conrad of The Hills fame put her Spanish style home on the market several months back, and in this case, there are no clues as to why it hasn't sold. It was built in 1922 and has many of the charms of similar houses of that era-wrought iron, original moldings and Spanish tile floors-but has undergone major renovation on the electric, HVAC, pool, roof, foundation and windows.
See the slideshow: 10 Celebrity Real Estate Woes of 2011
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