This isn’t some barter agreement, there’s money exchanging hands of course, and a lot of it. But celebrities tend to buy former celebrity homes.
Down in Hollywood it’s common for the famous to sort of transition from one stars home to another. That’s just the nature of the landscape, all the stars living in the area over the years, from Beverly Hills to the Hollywood Hills. If you buy property in Hollywood more often than not there's a celebrity story behind the property or the house next door.
So, you could potentially buy a home that's been owned by a list of stars--then you can claim the star you like most when telling your friends about the property you’ve just bought. Referencing the figure or star with the most appeal at the particular time. Yeah, he or she lived here for years you say.
I recently read an article about Lenny Dykstra, the all-star baseball player, and how he bought the former hockey great Wayne Gretzky’s old mansion for $18,500,000 – yes that’s the price for this 6.5 acres, 12,360 square feet, 6 bedrooms, 7 bathroomed home.
But again, there's a long list of famous homes down in LA. After all, that's where most movies and TV shows are made.
What does this do to the price though? For the most part it's all hype. Celebrities don't sell real estate with their name alone, it can boost interest and perhaps increase the price a tad in some buyers eyes, but overall, it's all about the quality of the property and its location - as with most real estate. Still it's fun to read about what celebrities are buying and selling and where they've lived though.
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