PROPERTY PROBLEMS AS STARS FAIL TO SELL

Last updated: Monday, May 26, 2008

PROPERTY PROBLEMS AS STARS FAIL TO SELL

Los Angeles' struggling property market is beginning to give the celebrities a headache - many are struggling to sell their homes.

SHARON STONE

Sharon Stone, Angela Bassett and Frankie Muniz have each been forced to lower the asking price on their properties in a desperate effort to sell them.

Stone fears she'll have to let her Beverly Hills home go for a loss, relisting it at $10 million (GBP5 million) - that's $1 million (GBP500,000) less than she paid for the property, according to the Los Angeles Times newspaper.

The actress never actually lived in the mansion she renovated, according to the publication.

Meanwhile Bassett and her husband Courtney B. Vance have drastically reduced the asking price on their Hancock Park home, which features five bedrooms and its own hair salon, from $6 million (GBP3 million) to $4.6 million (GBP2.3 million).

And former Malcolm in The Middle star Muniz is struggling to sell his Hollywood Hills property after placing it on the market for $3.7 million (GBP1.85 million) - almost $200,000 (GBP100,000) less than his original asking price late last year (07).

Source: WENN

| Monday, May 26, 2008

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PROPERTY PROBLEMS AS STARS FAIL TO SELL

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