Retired professional wrestler Hulk Hogan has lowered the price of his house after it failed to sell on the market.
The mansion, located in Floridaââ¬â¢s celebrity zone of Clearwater, was listed for $25m in 2006, but has been reduced in price four times over the past five years, now reaching the significantly lower cost of $8.85m.
Hulkââ¬â¢s property joins other celebrity houses that have failed to sell recently, with Alec Baldwin relisting his New York apartment last month after it couldnââ¬â¢t find a buyer two years ago. Avril Lavigne, as well, has had to cut the price tag for her Bel-Air home, which was originally listed in May for $10 million but can now be purchased for just under $9m.
The trend continues with Dennis Quaid, whose Brentwood house dropped almost $4m in price after its $14m price tag failed to attract any interest in March 2011 ââ¬â a drop of over 28 per cent.
Hulkââ¬â¢s home, known to many from his reality TV series, was built in 1996 and boasts a gym, spa, five-car garage and even a two-tier waterfall. But with prices cascading on luxury celebrity houses across the market, buyers seem to be in short supply as economic doubts continue.
But price cuts are also occurring on average domestic American real estate, as foreclosures and repossessed properties see some agents and developers cutting prices by 50 per cent. Whether buyers are looking for bargain second homes or expensive mansions, investing in overseas property is a decision they wonââ¬â¢t have to wrestle with.
Are you looking to buy property in USA ? Florida , Ca , Detroit , Cape Coral , Buffalo
Are you looking to rent property in USA ? Austin , Kissimmee , New Orleans , Park City , Breckenridge
Author
Nick Marr
I am an internet entrepreneur with a passion for driving big audiences and a love for real estate. I have had plenty of ups and downs which has given me the experience to help others launch their own businesses. I enjoy projects that save consumers time and money, challenge convention and add real value to peoples lives.