18 BIGGEST Celebrity Real Estate LOSSES in 2024: Ranked Lowest to Largest Price Cut | 1400

Epic Real Estate Investing

Matt Theriault

Education, Business, Investing, How To

4.8 • 955 Ratings

🗓️ 26 December 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode, we take a deep dive into the jaw-dropping financial losses endured by 18 ultra-wealthy celebrities as they struggle to offload their extravagant properties in one of the toughest real estate markets in recent history. From former MLB star Jose Canseco’s multi-million-dollar Las Vegas mansion to casino mogul Steve Wynn’s sprawling Beverly Hills estate, we’ll explore how even the most luxurious homes are feeling the sting of price reductions — some of which soar to a staggering $60 million. But it’s not just about the properties. We’ll unpack the reasons behind these steep price cuts, examining the dynamics of the luxury real estate market in 2024. What’s causing these once-prized mansions to lose their allure? Are high-end buyers becoming more cautious in the face of economic uncertainty, or is this just a temporary dip? We’ll also explore how repeated price reductions are reshaping the perception of value in the world of ultra-luxury homes. Join us as we break down what these high-profile losses reveal about the future of celebrity real estate, the shifting trends in luxury markets, and what this means for the wealthy elite in the years to come. With millions at stake, this episode provides an eye-opening look at how even the rich and famous are feeling the heat in today’s volatile real estate landscape. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Terio Media.
0:05.0	Hey, strap in. It's time for the epic real estate investing show. We'll be your guides as we navigate the housing market, the landscape of creative financing strategies and everything you need to swap that office chair for a beach chair. If you're looking for some one-on-one help, meet us at
0:21.7	rei-aise.com. Let's go. Let's go. Let's go. Let's go. Let's go. Let's go. 60 million dollars, gone.
0:31.0	That's how much one billionaire lost trying to sell his Beverly Hills mansion. But he's not
0:35.9	alone. In fact, 18 ultra wealthy celebrities just
0:39.3	took massive losses on their luxury homes. And I'm about to show you exactly how much money
0:44.2	each one of them lost, including a medium mogul who sold his Manhattan pet house for 20 million
0:50.6	less than you paid for. But let's start with number 18. Remember Jose Canseco, the big hitting
0:55.9	baseball legend? Well, he's been trying to offload his Las Vegas mansion. It's got five bedrooms,
1:00.9	four and a half bathrooms, and plenty of room to flex. But even a sports star can't dodge a tough
1:06.2	market. To entice buyers, he had to knock off $100,000 from his asking price.
1:13.2	Now he's sitting at $1.6 million.
1:17.1	Not a massive loss compared to what's coming, but still, it stings.
1:22.5	The house is still on the market, which shows how even a little price drop might not be enough.
1:25.6	Number seven, another baseball giant, Albert Pooleholes.
1:27.0	He couldn't escape the pinch.
1:32.4	He sold his massive 10,000 square foot mansion and Irvine for $8.8 million, but only after slashing $1.18 million off the top.
1:35.0	Ouch.
1:35.7	That might not seem huge to a multimillionaire, but losing a million bucks is still a serious hit.
1:40.6	If you think this is painful, just wait.
1:43.3	These losses are about to get way bigger.
1:46.0	Number 16, actress Leah Rimini tried hard to sell her six-bedroom, nine bathroom, Los Angeles home.
	...

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