Celebrity Housing Problems

Many celebrities are experiencing their own problems with real estate and the current trend in the market according to HomeGuide123.com and the LA Times. Celebrity or not, who's to blame?

Ricky Martin is livin' la vida loca and confident about it. Over the last few years he has made a profit from flipping prime real estate in Florida. Ricky purchased a $16,250,000 Florida mansion in April of 07'. He's now trying to sell it for $22,500,000. Another of his many wishful flips is a Miami Beach mansion for $19,500,000 which five months ago he had it listed for $16,900,000. If all else fails, you still had one hit to look back on. Good luck!

Avril Lavigne and Ed McMahon are both feeling the struggle of selling right now. Lavigne has had her $6.9 million dollar home on the market a year. With two failed offers she's now reduced her home to $5.8 million. McMahon is trying to unload his Beverly Hills home. It's been two plus years and had been reduced $2 million. It's currently on the market for $5.7 million.


Latrell Sprewell, the former NBA basketball star isn't balling anymore apparently. His $405,000 home has just gone into foreclosure. Sprewell hasn't made a mortgage payment since September of last year. He also had his yacht repossessed last year. Maybe it's time to release a rap album.



Michael Jackson is about to beat it. His well known Neverland Ranch isn't seeing its best days. He has a $23 million dollar loan on it and is in back payment trouble. He's behind $200,000! He's looking for someone to refinance his loan before it goes into default. Good luck there man in the mirror.



Marion Jones, the fastest steroid user of the Olympic error, is down to her last $2,000. Her $2.5 million dollar North Carolina mansion was foreclosed on in 06'. Jones reported while driving in her Porsche SUV, that she had no idea where all the money went. Uhm.

Billy Donovan, Florida Gators basketball coach, is in some deep trouble, or is he? The coach purchased a $6 million dollar property on a 40-year mortgage with no money down. Not to mention the fact that he got locked into an ARM. Now the ARM kicked in and he can't afford it. I wonder if he reads his player contracts as well as his loan docs. Oh, he makes $1.7 million per year and will be calling on the government for a mortgage bailout. This might be my most nauseating celebrity real estate situation yet.

I take that back... The most nauseating celebrity housing problem definitely goes to Slash. He purchased his Hollywood Hills home for $6.2 mil in 06' and just sold it for $5.7 mil. After selling, Sir Slash decided he paid too much. He decided to sue his real estate agent. His reasons? He's said the home wasn't described properly. He also said it was too small with not enough privacy. Perhaps the hat, hair, sun glasses and cigarette smoke impaired his judgment, but did you NOT see the home before you purchased it and then live in it for two years?




**Note, any of the above following celebrities Googling their name and finding this, feel free to update us. Also, if you're expecting a baby, had lunch with Britney or are planning on checking yourselves into rehab, please comment below.