Friday, April 3, 2009

UPDATE: Mel B

We hear that Miz Mel B, aka Scary Spice aka one of Eddie Murphy's baby mommas, sold her damn house in the Mount Olympus neighborhood above L.A.'s Laurel Canyon for $3,140,000* after just 7 days on the market. That's right puppies, one week. We also heard–but can not confirm–there were multiple offers on the spicy contemporary domicile. The children will recall that she listed the property with an asking price of $2,999,999.

Although the sale price is a bit higher than the $3,000,000 she paid for the place in August of 2007, she's still losing a giant wad of money if you believe what we heard about Miz B dropping 800,000 or a million clams on renovations.

Your Mama's gonna keep our usually loose lips sealed on this one and let all the real estate agents and Chicken Littles throw down with each other about what a sale like this might indicate about the real estate market.

3.2.1. Go!

*Your Mama also heard through the gossip grapevine the sale price was $3,200,000, so we don't really know what the buyer has agreed to pay. We'll just have to wait until the transfer records hit the interwaves before we know for sure.

16 comments:

StPaulSnowman said...

Tasty follow-up Mama! Who bought Marge Schott's wonderful tudor in......dare I say it......Ohio?

Babe Parish said...

i guess shane and i will have to take l'wren's place...
:P

Anonymous said...

what is ohio? os it one of the "state " streets?ingiae

Anonymous said...

I know the buyer

Eddie Murphy !!!!!!!!!

Anonymous said...

god it's tiresome typing in the word verification after you've had a few cocktails coledrer

Anonymous said...

I figured this house would sell. Despite the slow market... it is now spring and that will pick it up a bit, plus it was priced right and if your taste, didn't need anything to be done to it. I think some of the children will be surprised to see some sales this summer when the property is priced where it should be. That said, it still blows me away how cerain properties are listed right around what they sold for a couple years back and others are listed at vast sums higher than paid, wait are these ppl thinking?

Anonymous said...

Obviously, some very educated buyers out there appreciated the VALUE that property represented.

What the f**k are these letters in word verify? What is the point of making them unreadable?

Anonymous said...

The difference between Mel B with her realistic or maybe, if reports about renovations are accurate, under pricing is that her life and style apparently isn't dependent on this deal. For others, it's lifestyle adjustment time if they don't get their pipedream price.

Hot Sauce said...

this house sold because it was on Mama's blog! That added much need cache and value! Praise Jesus! I only hope when me and Cracker get ready to sell Bel Reve (that's what I call our little doublwide) that Mama will be the good kind Christian woman she is and feature our place!

lil' gay boy said...

Whore-riffic.

TheFlyingDutchman said...

I doesn't say anything about the market. Some people still have money to burn and they sell and buy in this market but hardworking people won't risk losing thousands or even hundreds of thousands by buying a home that is overpriced/will depreciate.

Anonymous said...

Quite possibly purchased by someone with a longer term vision than the next 24-48 months. The house may decline in value in the next year or so but eventually it will go back up and people will be whining that about the good old days when one could get a house in this neighborhood for only 3 million. The government needs to figure out a way to keep people from playing the housing market like it is a stock market and we will be fine.

Anonymous said...

I would point out that agreeing to a purchase price and closing escrow are two hugely different things. If this does close it wouldn't surprise me if it's an all cash deal.

Viva! said...

I always liked this house and thought the pricing was very fair. Good for Mel B!

Rational Renter said...

"The house may decline in value in the next year or so but eventually it will go back up" - while your statement is literally true, you vastly underestimate how slowly housing markets turnaround. In the 90s housing crash (after a bubble about 1/3 the size of this one), it took almost a decade to recover. If you bought a house in 1990, you couldn't sell it for the same price until 1999. So when we finally do reach a pricing bottom (probably in 2011 or so depending on the area), there will be years of static prices before price appreciation begins again (and it will do so at a very slow rate).

Anonymous said...

1) The statement says "eventually". It does not state a time frame so the estimate is entirely projection on your part.

2) You are off in your numbers of the last cycle or painting with too broad a brush. I bought a foreclosure not far from Mel's house in 1994 for exactly half of what it sold for in 1990. I sold it in 1998 for 20% more than it sold for in 1990.

Be happy renting. I love having people like you pay my mortgage.