Hollywood power couple Ben Affleck and Jennifer Garner are the latest in a line of famous buyers to purchase a beautiful ranch house in the Pacific Palisades. Built back in 30s, the home was designed by Cliff May and is considered to be a classic example of his style, with rooms that flow into each other, indoors and out. The cliffside home measures almost 8,800-square feet. Renovated in the 90s, it features five bedrooms, eight bathrooms, a guesthouse, a pool, a studio, and stunning views. According to public records, the actors paid $17.55 million for the property. This is well below the price it had been listed at: $27.5 million.
The home has been a mainstay celebrity hot property since the late 1940s, when it was purchased by actor Gregory Peck. A Life advert for Pabst Blue Ribbon showed Peck and his first wife Greta at the bar in the den, a room that Peck was known to favor.
One of the oldest homes located in the Brentwood area has been listed for sale. Built back in the 1920’s, this hacienda-style home has had a slew of famous owners over the years, including power couple actress Michelle Pfeiffer and TV producer David E. Kelley, as well as actress Melanie Griffith and actor Antonio Banderas. The house is currently owned by actor Dylan McDermott, who coincidentally waited on Michelle Pfeiffer back when he was still a struggling actor in New York.
The home features four bedrooms (three of which are suites), three bathrooms, and a two-story great room with cathedral ceilings. The walled and gated property features a pool, a 250 year old oak tree, a fountain, a pergola with climbing roses, and an expansive yard. The 4000 square foot home was purchased back in 1999 for almost $4 million. It is currently listed on the market for $6.9 million.
In this current housing market, which has yet to show a sign that it has bottomed out, seeing new heights reached for home sales is a sign that we can take consolation in. A new watermark has just been set for the highest price paid for a home in the state of California when a mansion in Beverly Hills sold for a fairly impressive $31.5 million.
The French Normandy-style home measures 27,000 square feet and sits one a two acre lot. It’s three stories and has ten bedrooms, thirteen bathrooms, and seven fireplaces. Designed by Richard Landry, it also features a grand ballroom, a library with a glass floor, and a large wine cellar.
While the price might seem impressive, it must be taken into account that the mansion was originally listed for $45 million and sat on the market for a lengthy 255 days. That sounds more like the market we’ve come to know.
David Evans, better known by his stage name The Edge, has plans to develop mountaintop property in Malibu, much to the concern of some of his neighbors. The erstwhile U2 guitarist plans to build five mountaintop mansions with amazing ocean views, one for him to reside in, one of which would be a home for real estate investor Derek Quinlan, and three that would be place on the market in the hopes of turning a tidy profit. Other residents of the area are concerned both about the noise of the construction and the impact on the cliff side and the surrounding environment. The area that has been chosen for the site of these residences requires a number of difficult engineering feats in order for construction to proceed as planned. Evans has stated that he loves the Malibu area and plans to be environmentally responsible during construction. The California Coastal Commission plans to do a study this summer.
Unfortunately, while many people dream of seeing their ideas for a custom home brought to life, not everyone gets to actually live in the house that they’ve built. Kristin Cavallari, best known for playing herself in the reality TV series Laguna Beach: The Real Orange County has placed her custom-built home, located in the titular city, on the market for a pricey $13.95. Tucked away inside the gated community Three Arch Bay, this home took eight years to build. Over $2 million was invested into just the masonry, with hardwoods also being heavily featured in the construction. Measuring in at 7,100 square feet, the home has four bedrooms and six bathrooms. The 3.25 acre property has beautiful views of the coast and Catalina. The property also features almost an acre of professional landscaping, an infinity pool, and enough parking for up to 25 cars.
While we are definitely in a buyers’ market these days when it comes to real estate, not everyone is doomed to watch their property sit unsold for weeks or even months on end. Melanie Brown, better known as Scary Spice from the hit 1990’s pop group the Spice Girls, managed to sell her home after it spent only seven days on the market.
Purchased in 2007, this “ultra chic” home is located in the Hollywood Hills and recently had $1 million worth of remodeling done. The home measures 3,476 square feet and has four bedrooms and four bathrooms. The property also features an entertainment area, waterfalls, and a saline pool.
While the MLS said that the original listing price had been $2,999,999, the house closed at $3.14 million, proving that even in a buyers’ market, there are hot properties to be found.