Luxury real estate in Australia hit by lack of buyers

Palazzo Versace Lobby

Sunland Group, a  luxury property developer in Australia, has slashed its profit outlook, reversing an upbeat outlook issued by the developer about a month ago. Sunland, which is behind the Palazzo Versace hotel and the world’s tallest apartment building, Q1, both on the Gold Coast, cut its net profit guidance by 32% — down from […]

Trump has competition for McMahon’s house

Ann Brenoff has posted on the LA Times blog that the Donald Trump-Ed McMahon deal may not go through, as The Donald now has competition to buy the place. The listing agent reports that an anonymous second buyer has shown up. Interesting. We thought the listing agent went to New York to ask Trump to […]

Donald Trump to buy McMahon home

Well what do you know? It looks like Donald Trump has stepped up to rescue Ed McMahon from foreclosure. And none too soon, it appears. We saw in the LA Times today that Trump has agreed to buy the McMahon home, and he’ll allow McMahon and his wife to continue to live there. As we […]

Ed McMahon drops home price again

Ed McMahon is still desperately trying to sell his Beverly Hills home. In fact, he just recently dropped his asking price by $1,900,000. That’s a big reduction by anyone’s standards. As we previously mentioned, McMahon is trying to avoid foreclosure by Countrywide. In June, it was reported that McMahon was $644,000 in arrears. And since […]

Cher wants to sell her Malibu mansion

chermalibu.jpg

Cher no longer wants to be Malibu Barbie. She’s putting her (approximately) 14,000-square-foot mansion (Mr. Big Time lists it as just over 13,000 sq. ft., as does Real Estalker) up for sale. To the tune of $45,000,000. That’s just crazy talk! But, it’s true, and listed with Hilton & Hyland. The Wall Street Journal wrote […]