Aaron Spelling

Vanity Pricing Consolation Prize for Luxury Real Estate

You have 320 choices if you're looking for a home that costs more than $20 million – though if you're smart, you shouldn't have to pay nearly that much. Why? As you'd expect, real estate agents are having trouble moving these houses, so they are staying on the market for a while, and age doesn't do much for a property's value.

The top listing right now belongs to Aaron Spelling's widow – at least until she can sell it. This is a difficult proposition, however, with a price tag of $150 million. Four years ago, the highest price on the market was half what Spelling is asking. This year, $75 million isn't good enough to make the top 10.

Since the number of listings is up, you'd expect sales to be down ... and that's how it's working out. In the Hamptons, year-over-year sales were off 43 percent in the second quarter, with the median price down 17 percent. Homeowners who can't sell are trying to rent instead, with mixed results. Joseph Farrell, who has a home in Bridgehampton, would like to sell it for $59.5 million. Until that happens, he has to be content to rent it, which he's doing now at $425,000 for two weeks.

So, if homes aren't moving, why continue to price them above $20 million? The answer is as old as consciousness: vanity. An absurd price is guaranteed to get some attention (as I've just demonstrated).

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Tags: aaron spelling, AaronSpelling, beachfront, bridgehampton, estate, estates, hamptons, housing, housing bubble, housing market, housing sector, HousingBubble, HousingMarket, HousingSector, real estate, RealEstate, villa

Spelling Mansion Listed at $150 Million, Now World's Most Expensive Estate

by Jared Paul Stern (RSS feed) —

Filed under: Estates

Move over Fleur de Lys: Candy Spelling's legendary massive 123-room Holmby Hills mansion has officially hit the market with a record-breaking asking price of $150 million. That's $25 million more than the Beverly Hills behemoth Mariah Carey is said to have made an offer on recently, and officially makes the Spelling mansion, called "The Manor," the world's most expensive estate in terms of current listings, the Wall St. Journal reports. The 57,000-sq.-ft. mansion, which has at least 11 bedrooms and 16 baths, was built by TV producer Aaron Spelling on the site of Bing Crosby's former estate, which they razed

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Features include a bowling alley in the basement, a beauty parlor and a barber shop in the 17,000-sq.-ft. attic, a gift wrapping room, doll museum, a home gym, a wine cellar and wine tasting room, a humidity-controlled silver storage room, a china storage room, and a screening room where the screen rises up out of the floor with paintings moving up to reveal the projector, the Real Estalker reports. The gated grounds encompassing five acres include a motor court with a fountain, covered parking for dozens of luxury cars, formal gardens including a rooftop rose garden, a swimming pool and spa complex and of course a tennis court.

Tags: Aaron Spelling, AaronSpelling, Bing Crosby, BingCrosby, Candy Spelling, CandySpelling, Fleur de Lys, FleurDeLys, Holmby Hills, HolmbyHills, Los Angeles, LosAngeles, mansion

Tori Spelling's Yard Sale

by Deidre Woollard (RSS feed) —

Filed under: Celebrity Shopping

Not content to just sell her clothes on eBay or to peddle her memoirs in order to raise funds, Tori Spelling is now holding a garage sale this Friday and Saturday in Los Angeles. The pregnant actress is inviting people to her home this weekend for an estate sale. The sale includes clothes, jewelry, antiques, art and more. Tori and her husband are also opening a bed and breakfast which they are filming for a reality television show. You can get the details and address on yard sale guru Sharon Yost's website. They say they are expecting a large crowd so be prepared to wait in line to get your peek at Tori's goods.

[via Dlisted]

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Tags: aaron spelling, celebrity, tori spelling, ToriSpelling

Is the Spelling Mansion Already For Sale?

by Deidre Woollard (RSS feed) —

Filed under: Estates

Hot real estate news, TMZ is reporting that Candy Spelling, the widow of Aaron Spelling, is already shopping around the family manse. The ultra-posh Holmby Hills home is rumored to be listed at $150 million. TMZ says that the Westside Estate Agency has the listing, although they are quietly selling it so it's not on the website yet. The price would be a record-breaker but the home did cost $47 million to build in 1991. Is it fancier than Trump's $125 million mansion or Updown Court? I can't wait to see the listing on this one.

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Tags: aaron spelling, AaronSpelling, candy spelling, mansion, real estate, spelling