The current real estate market is known for two things: slow sells and great bargains. These things hold true not only for the average Joe buying and selling homes, but also for celebrities. Jennifer Aniston and Ashlee Simpson both sold their homes below list value, providing exceptional opportunities for the buyers. Even in Hollywood, there is a buyers’ market.
Jennifer Aniston is known across the globe for acting in everything from television shows such as “Friends” to popular movies like Marley & Me and Just Go With It. She listed Ohana, her luxurious Beverly Hills estate for $42 million earlier this year and sold for much more than the actress originally paid for the property, and only slightly below the listed . The home that Aniston only paid $13 million for in 2006 – when she was with Brad Pitt - has officially been sold for somewhere around $37 million. How did Aniston get such a great return on her original investment? Superb renovations from the inside out by Stephan Shadley, a well-known interior designer.
Aniston’s home is almost as famous as she is, appearing in Architectural Digest and being a hot item on the real estate market since March. But what brought Aniston to sell this 10,000 square-foot mansion? A need to simplify her life, according to the actress. Aniston feels the home is not her and does not fit; therefore, she listed the property and now the new owner has an incredible home that Aniston spent a lot of time and money drastically improving it over the last few years.
Jennifer Aniston is not the only celebrity selling her home; so is Ashlee Simpson. Ashlee is best known for being the little sister to Jessica Simpson; however, she has also made a name for herself over the years as a recording artist. Ashlee has produced multiple number-one albums and has even had her own reality television show—The Ashlee Simpson Show. Ashlee married and had a child with Pete Wentz of the band Fall Out Boy and filed for divorce in February of this year. She sold her the home she owned before the marriage for approximately $3.5 million, which was listed for $4 million.
Ashlee’s Beverly Hills home is located in the 90210 district and is a spacious 7,000 square-foot property. Before her marriage, Ashlee purchased the home in 2007 for $4.5 million, a property that was complete with pool and spa. However, she decided to sell her home to her soon to be ex-husband, Pete, for $3,475,000 after the divorce as she turns her attention to advancing her career. Ashlee is working on a new album while also working with her sister Jessica on a clothing line.
The Beverly Hills celebrity transactions like that of Jennifer Aniston and Ashlee Simpson show that incredible deals are available from single-family homes to Hollywood mansions. One thing is certain—it is a buyers’ market out there, much to a real estate investor’s delight.