Famous Homes Priced Under $1 Million

Posted by Staff Reporter (media@realtytoday.com) on Mar 03, 2016 06:38 AM EST
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Melanie and Antonio Expand Their LA Homemore big
383133 05: A picture of actors Melanie Griffith and Antonio Banderas'' new home December 11, 2000 in Los Angeles, CA. It was disclosed today that the couple have purchased the adjoining home for $1.3 million which restores the property before the lot was split in the 1950''s. When the couple''s project is completed it is projected the value of the property will be $17.5 million dollars. (Photo : Frederick M. Brown/Newsmakers)

Celebrity homes are often flocked with countless offers from buyers in the real estate market. However, most people know that houses once owned by celebrities come with a hefty price tag, and therefore, very few can afford to live in one.

Celebrity homes for sale in the real estate market often come with a high price tag for a number of reasons. Most celebrities live in grand and spacious properties with to-notched appliances and furniture, which only explains the reason for the high selling price.

However, Trulia noted that aside from this, just the fact that the property was once owned by a celebrity almost always boosts the house value.

"When a celebrity lives in a house, it helps increase the value," said Brad Korb Real Estate Group CEO Brad Korb. "Buyers think, 'Wow, someone famous lived here, I'd like to live here too."

Korb told the publication that when buyers hear about a celebrity client selling a specific property, it almost always ends up with more attention and multiple bids than it would have if it was advertised without the celebrity's name to it. Unfortunately, most celebrity homes in the real estate come at a high price.

The publication, therefore, listed several famous houses that come at a price lower than $1 million. These houses, however, are not celebrity-owned, but they were once visited by famous personalities.

One of the famous homes for sale is the mile-high hangout in Denver, which was once a guesthouse for Guy Lombardo, Glenn Miller and Grace Kelly. The historic home is being sold for $650,000.

Bob Dylan also once stayed at the home of a famous sculptor in Lamy, NM, which is now being sold for $749,000. Elvis Presley also stayed at French country log cabin in House Springs, MO and the house is listed on the market for $749,900.

As previously reported here on Realty Today, celebrity homes often have common features.

Most celebrity houses have outstanding views, which also add up to the house value when determining the selling price. Celebrity homes also have luxurious amenities such as a home spa and a spacious master suite.

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