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La Quinta villa sold at a loss

Steve King

Member
Messages
31
Points
8
What happens when a piece of property is up for sale, yet a buyer is not forthcoming? Earlier in the year, Sylvester Stallone put up his villa for sale, demanding $3.35 million, about $1.15 million less than what he paid for a decade ago. He eventually sold it for $3.15 million. We'd have expected the abode to have appreciated, right?
 

jack25

Member
Messages
270
Points
18
Last I checked, Stallone was worth an estimated $400-million, so a loss of this amount wouldn't worry him so much. He'll be glad to have recouped a significant percentage of the initial investment, and with this, he can invest elsewhere.
 

scatman

Member
Messages
84
Points
8
Real estate is tricky. Appreciation values depend on location, equity, but mostly location. If properties close to his, for example, are depreciating so will his. To an extent.
 
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