Eva Longoria, Scarlett Johansson, and many other stars have experienced the tremors of housing market volatility and suffered huge losses when trying to sell their homes.
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While the housing market is not unpredictable, figuring out when is the best time to sell is always a balancing act for celebrities who move between homes in several major cities, as many stars do. It's a stupid thing to do.
Most of these A-listers quickly bounced back from real estate failures such as: scarface Actress Michelle Pfeiffer and her husband David E. Kelley quickly made more than $3 million in profit on a real estate deal, just after losing more than $1 million on another home sale.
However, other stars, by their own admission, were near financial ruin after several real estate deals went wrong. ghost rider Actor Nicolas Cage revealed in 2023 that he desperately needed to recoup $6 million in capital from the early 2010s after the global housing market collapse affected his careful real estate portfolio. .
But despite all these real estate losses, these stars continue to level up by owning luxury homes, apartments, and in some cases entire estates around the world. Therefore, it can be assumed that they are doing well.
Take a look at celebrities who have lost over $1 million in real estate deals over the years.
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celine dion
Image credit: Christopher Polk for Billboard
Celine Dion took a huge hit in 2017 when she sold her Florida mansion. Celine Dion put her oceanfront estate on the market for $72 million in 2013 after investing millions in renovations.
The 20,000-square-foot property on Jupiter Island, complete with 13 bedrooms and its own water park, has sold for $28 million.
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Michelle Pfeiffer & David E. Kelley
Image credit: Christopher Polk for Variety
Michelle Pfeiffer and David E. Kelley have been central figures in several high-profile real estate deals, with mixed success.
They bought a Pacific Palisades home in 2018 for $5.3 million and sold it for $6.5 million in 2022, taking a $1.2 million loss.
But on the flip side, they acquired a $22.25 million home in 2020 and sold it the following year for $25 million.
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Eva Longoria
Image credit: Christopher Polk for Variety
Eva Longoria lost $3.15 million when she sold her Los Angeles home in 2018.
The star first bought the duplex from Tom Cruise in 2015 for $11.4 million, and it was originally listed for $14 million, but it ultimately sold for $8.25 million, according to the outlet. people.
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nicolas cage
Image credit: Errich Petersen for SXSW Conferences and Festivals
In 2009, Nicolas Cage was feeling the effects of the real estate market crash, selling an elaborate English castle for a $1.5 million loss.
The actor reportedly bought the Gothic castle for $6 million and sold it for $4.5 million at a time when he was rapidly selling off his vast real estate portfolio. daily mail.
In 2023, Cage admitted that his real estate investments at one point caused him to go into huge debt. “I overinvested in real estate. The real estate market crashed and I couldn't get out in time,” Cage said. 60 minutes. “I paid it all back, about $6 million. I never filed for bankruptcy.”
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adele
Image credit: Michael Buckner/Variety via Getty Images
After splitting from ex-husband Simon Konecki in 2018, Adele lost $1 million when she sold the UK home she shared with ex-husband in 2020.
According to reports, the singer bought the house in 2018 for $4 million. Daily Mail.
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sandra bullock
Image credit: Gilbert Flores of Variety
In 2022, Sandra Bullock lost a lot of money in an off-market deal on her Sierra Towers condo in West Hollywood. joker Directed by Todd Phillips.
The Oscar winner paid $5.1 million for it in 2017 and sold it for $3.6 million, taking a loss of $1.5 million.
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Leonardo DiCaprio
Image credit: Monica Schipper/GA/The Hollywood Reporter via Getty Images.
Leonardo DiCaprio bought a luxury New York apartment for $10 million three years ago, then sold it for $8 million in 2016, losing $2 million.
To make matters worse, the actor never even lived in the house.
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Reese Witherspoon
Image credit: Gilbert Flores of Variety
Apparently, Reese Witherspoon has definitely bounced back financially after losing nearly $1 million selling her elaborate California ranch in 2013. Reese Witherspoon originally listed her ranch for $10 million, but reportedly only received $4,983,500 by the time the deal closed.
That's far less than the $5.8 million Witherspoon paid for the home in 2008. The home has nine bedrooms and seven bathrooms.
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ryan philippe
Image credit: Mark Von Holden for Variety
Witherspoon's ex Ryan Phillippe also had bad luck when it came to real estate. After breaking up with his famous ex-wife, the actor bought a Hollywood Hills home in 2008 for $7.175 million.
But when it came time to sell, Starr spent two years trying to find someone to take it, and it was finally sold for $6 million in 2013, the magazine reports. LA Times.
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pharrell williams
Image credit: Swan Gallet for WWD
You wouldn't complain if he sold his house for $14 million, like Pharrell did in 2020, but it's still a net loss for the music producer.
The star bought the three-story, 10-bedroom, 11-bathroom home from Tyler Perry in 2018 for $15.6 million, but lived in the fountain-equipped home for just two years, according to So, after that, he saw her off. LA Times.
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scarlett johansson
Image credit: Nina Westervelt for Variety
Scarlett Johansson has suffered major real estate losses not once, but twice, in her career.
In 2022, she finally sold her Manhattan apartment, which had been on the market for more than two years, for $1.9 million, but took a loss on the $2.1 million price tag she paid in 2008.
About a year before buying the New York pad, the star dropped $7 million on a stunning four-bed Spanish-style home in the Hollywood Hills, which she sold for just $4 million in 2010.
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Trevor Noah
Image credit: Golden Globe
In December 2020, Noah dropped a whopping $27.5 million on a stunning six-bedroom, 11,375-square-foot home in Bel Air. Then, in March 2022, just two months after the property went on the market, he was a bit shocked when it sold for $26.39 million. That's over $1 million less than what he paid!
