US Property Market Issues

It’s not just here in the UK that is suffering from a property slump, in the USA celebrities are putting up some fantastic property for sale.

Sheryl Crow is selling her Nashville mansion at auction with a $7.5 million expected price tag. Fortunately for the “ALL I wanna do” singer she paid a measly $6 million for the huge property back in 2006.

So what does £4.7 get you? Just a seven bathroom, six garage, five bedroom, 3 storey dream home. Add in a theatre, swimming pool, staff quarters and a 3 bedroom guest cottage. If that wasn’t enough there is a 14 stall barn with an indoor riding area.

“Con-Air” star Nic cage recently sold his Bel-Air home for just the $10.5 million. I saw just because his initial asking price was over $30 million! The 40’s style 11,817 square foot mansion has 6 bedrooms, 9 bathrooms a very handy central tower (what?), wine cellar as well as the now “as standard” theatre and a swimming pool.

Just down the road from Mr Cage, a slightly smaller yet newer property sold for $22 million which shows just how much these property prices are falling.

The star of “National Treasure” sued his former business manager for allegedly leading him to financial ruin. But Mr Levin, Cage’s manager counter sued after accusing Cage of going “on a spending binge of epic proportion”. Part of this binge included further properties around the world and a property in Bahamas.