The Real Estate Blog

Even Hollywood celebrities can’t avoid the slump in prices for real estate. With property prices falling by 11 percent, rock singer Avril Lavigne has found herself victim to the downturn in the market. As a result, Avril Lavigne’s Beverly Hills mansion has been reduced from $6.9 to $5.8 million.

According to Forbes, Avril Lavigne has put her house on market in February 2007.

“Young rocker Avril Lavigne has had to reduce the price on her five-bedroom, six-bath house in Beverly Hills from $6.9 million to $5.8 million. The property is currently in escrow. The Hollywood Hills home is in a gated community just off Mulholland Drive, and includes a tennis court and pool. Since she put the house on the market in February 2007, two offers have fallen through. In the public listing, her agent calls the house “One of the best values on the market today.”

Mark David works in the celebrity real estate market and claims that sellers mostly try to push famous buyers to pay the full price.

When it comes to real estate, stars generally aren’t treated any differently than other rich people. Mark David, who runs the celebrity real estate site The Real Estalker says homes generally don’t demand a premium just because a celebrity was living there. At the same time, famous buyers are unlikely to get any kind of a bargain, since sellers often push famous folks to pay full price.

Photo: © indoloony

No related posts.