Saturday, June 6, 2009

UPDATE: Patrick Dempsey

In early March of 2009, Your Mama discussed the Bel Air house of boob-toob doctor Patrick Dempsey (Grey's Anatomy). At that time Mister Dempsey's New England style Chantilly Road residence was on the market with an asking price of $3,595,000. Six weeks later the asking price was given a substantial hair cut to $3,295,000.

Then, in mid-May, with a helping hand from a lovely gal we call Lucy Spillerguts, we learned that Mister Dempsey had already bought a new, bigger and much more expensive McDreamy House on N. Bundy Drive in the Brentwood section of Los Angeles.

Shortly thereafter, Mister Big Time announced that the property had been put into escrow. Well children, we regret to inform, but for whatever reason(s), the house is back on the market with a new asking price of $2,995,000. A few flicks of he well worn beads of our bejeweled abacus reveals that's just 83% of the original asking price, and, even more punishing for Mister Dempsey's pocketbook, a bit more than one hundred thousand clams less than the $3,100,000 property records show he paid for the place in July of 2006.

We're sure many of the children will gloat and foam at the mouth with delight over Mister Dempsey's real estate misfortune as it relates to his former home on Chantilly Road. However, something to keep in mind while mocking and wagging fingers with financial self righteousness is that while Mister Dempsey may lose a bushel of shekels on the sale of this house, he can still afford to buy a new six and something million dollar house without having sold his previous property.

So my dear Chicken Littles, who's really getting the last laugh on this one?


:{} avg joe said...

All of these rich actors, moguls, business men, internet gurus are losing millions in this market from the sale of bad investments, but..........

they did not lose 7 trillion like wall street just did and .....

they make so much money every year so they can afford the steep losses that would put others out into the street or on a journey to the next life

at least the realtors, brokers will not get sued or worse over these shillings that have brought the US, UK and other grade countries to their knees

just sayin

:{} avg joe said...

btw when cnn is saying the low low price of $1300 a night for a entry level hotel room at the ritz in "bora bora" is a super great deal means we still have a long long long long long long long way to go to get to the bottom, we will not see any real damage for at least 5 years

I mean $1300 a night for a hotel room in bora bora ??? who can now afford that ?

unless it was a typo and it is really $13 a night ? that would make more sense but that will not happen for at least a few years

don't you think ?

:{} avg joe said...

it is not the ritz, it is the regis

The general rule here is, go as far as your frequent-flier miles will take you. For example: The Four Seasons Resort Hualalai on the Big Island of Hawaii, where Julia Roberts vacations with her family, is giving $1,000 resort credits good for anything on the property (including room rates) for those staying at least four nights. At the Four Seasons Maui, rooms are starting at a (relatively) affordable $395 per night and include extras like outrigger-canoe excursions and introductory scuba clinics. In Bora Bora, at the St. Regis, an entry-level room used to be $1,300 per night, but now every second night is half price. Bonus: You're near the lagoon James Michener once called the "most beautiful in the world." For groups, check out the "second bungalow for half price" package.

One other romantic spot worth considering: Sandy Lane in Barbados, where Aristotle Onassis once rowed in from his yacht to frolic alongside Princess Margaret and Frank Sinatra. The resort was completely renovated in 2008 and has numerous packages, with rates ranging from a few hundred to thousands of dollars off typical prices.

Anonymous said...

god just die already

Anonymous said...

The Public Records for North Bundy Drive still aren't showing any transfert... are you sure of your source ?

Anonymous said...

Last laugh?

Give the fat lady a cyhance to sing.

2009 is just her warm up year.

:{} avg joe said...

the super rich are about no more

soon the high end market will follow

ie 100 a night at the ritz vs 3000 a night and at that point the highend market will crash while asking for bailout money

the billionaires are back to millionaires that are billions in debt

so I would say that is bad wouldn't you ?

Anonymous said...

I don't know where you get your information joe, but it's never accurate. Ever. You're just an agitator looking to stir the shit pot and that's it.

There are still lots of billionaires. yes, less than 2 years ago. but think about it, if you have 1 billion dollars and you loose half you're still insanely rich. Even if you loose 75%, you're still extremely enough to pay 1000 bucks a night for a nice hotel on vacation.

just sayin...

Sir Harold said...


if you are worth 5 billion and are in debt for 7 billion and lose 2.5 billion you will not have enough to make the payments to the bank that provided you the billionaire's lifestyle and as you are skipping on a few payments in the amount of 1 million a month, they will eventually, depending on how they feel about you, lead you to your untimely death, in the form of suicide of course

bankers are the true mafia and they are not wise guy italians, they are the nerdy types with hearts of stone and no fear of man or god,

Sir Harold said...

and they put out a scam every 5 years that once again changes the odds of many fortunes

they also have kenneth hagin, kenneth copeland, teddy haggard, jimmy swaggart, oral roberts, benny hinn, creflo dollar as their co conspirators, notice on how the evangalicals and baptist preachers are always fleecing their flocks ?

now they are encouraging their flock to start bringing guns to church as their scams are getting revealed and many a former christian is exacting their personal revenge

and to think that jesus is the prince of peace ...

Anonymous said...

Who are you people?... Just shut up already!

Back to the listing. Dempsey bought his house at the very top of bubble, so it is not surprising that he needs to lower the price to get his house sold. It's not a smirking hater opinion, it's just a fact. If he sells his house for $2.8M, it would be just 10% lower from the top, which is much better than the rest of the California RE and a WHOLE lot better than other forms of investments, like the stock market, where he would have held his money otherwise. Partially, that's because he gets a celebrity premium on his sale price, and good for him.

Anonymous said...

new news, the homeless are now moving into brand new luxury condos around the nation


Developer to banker, investors

"I have a great idea, I need a billion for my new luxury condos that I will get 3 billion for in this incredible market"

banker to developer

"okay, we will use your condos as collateral"


great no problem, thank you, also I am going to buy a penthouse in NY for 40MM although it is really worth 5


developer to banker

I cannot make the payments, the market as you know crashed

banker to developer

"okay then, so are you ready for the next life ? and while we are at it we are taking all you own and putting your family on the streets"

banker to city

"we need a billion dollar tax break on these condo developments"

city to banker

"okay then, we shall let the former owners, who are now ironically homeless "chuckle chuckle" now move into these new luxurious condo's and get them off of the streets in LA, NY, SF, Chicago, Miami"

moral of the story ?

stupid is as stupid does

sound like a great hollywood movie ?

Sarah said...

This blog is so entertaining

I love it !!!!!!


Anonymous said...

On this site the 1040 North Bundy has been for rent since January. Are you sure of your source?

Anonymous said...

So after the shrink last Friday I sashayed down Madison from 87th to 59th, 12n--1 pm or so. Gloomy week in NYC weather wise. Very light rain on my stroll, just a mist, really. Hardly a soul about. Every single shop has a discreet "50%" off sign. Not a soul in any shop, only bored and sheepish-looking shopchicks and doorkeepers. Passed one bewildered, overdressed Amarillo matron somewhere in the 70s. Who's kidding whom? The other shoe has yet to drop--the rich may still be rich, as some here claim, but they ain't shoppin'. If anything, just kicking tires. Oh oh oh, the listing here. Never watched that Grey show. Not once. And I've always gotten a kick of Ms Oh. Show looks boring even in the ads. Dempsey looks boring. The house looks boring. Give me Victoria or Joan!

Anonymous said...

Economic professors predictions are about as reliable as weathermen

NO CHANCE !!!!!!!!!

stop panicking

all will be well

signed the illumati


Anonymous said...


A little digging and I do not turn up that listing on the MLS or on Valerie Fitzgerald's website...she's the listing agent. So my bet that listing for the rental you linked to is old.

It's unlikely that it would be on some OC website but not on the agent's site of the MLS.

Anonymous said...

10:36 - You should check your own sources before questioning Mama.

That site you listed isn't even registered to a realtor. It's an ad driven site put up by a marketing company called Lead Internet. They make their money from banner ads, not real estate. They could care less if those listings are active, they just want addresses people will search for (ie. Celebrity addresses.......) to get you to their page of ads.

Anonymous said...

Why is this house still for sale on zillow and trulia?

Village said...

The new house is just as ugly as this one. Money can't buy taste.

Anonymous said...

I got two new listings last week ( $1 million and $4 million), in both cases people willing to sell for less than they paid four years ago. Both presentations were to two generations of family members, and both were telling me that my proposed prices were "too high". Neither "has to sell" but both were anxious to not have homes on the market too long.

I live in a pretty high profile building (200+ units) where there has not been sale over one million dollars since the beginning of the year (four over $5 million last year). There are only a few Bentleys left in the garage and not one new SL, now that the leases have come due people are driving their old cars again.

I don't think that these are signs of a recovery.

Anonymous said...

Add to that the fact that Mama has to clean her own terlets this week; Svetlana was out winning the French Open.

Poor Mama. A folded up towel under the knees makes cleaning floors easier.

Anonymous said...

Most of the houses on Chantilly Road now seem to be listed for around 2.5 mil. He will be lucky to get over this.

Makes no sense to pay that much, when larger houses and going for less nearby.

Anonymous said...

Zillow is for amateurs (and idiot joe).

Anonymous said...

you build the same estate for 20% of what they are listing for now

that tells me that they are still going down, down, down down

Miss Ramona said...

Given that he is quite wealthy, I wonder if he could afford to hold on to the Chantilly house for another 3 or 4 years at which point I think the real estate market, at least in the wealthier sections of LA, will be recovered. It might be worth it, especially if he could rent it out, although I'm always curious why people wealthy enough to rent out a place for $20,000 a month wouldn't just buy something small. On a side note, mama, I do love your site!

Anonymous said...

5:49 - Yeah, we can build the same house for Buttf*ck, Idaho (no offense to the happy residents of Buttf*ck). This isn't Idaho and you couldn't reproduce it in the same community for 20%. As Mama would say - That's just Stoopid.

Anonymous said...

Didnt Dempsey go broke as an actor before? He should be wiser with his investing 2nd time around.

Anonymous said...

11:17 - If you are admitting Zillow is inaccurate ("stop reading the Zillow estimates") but still defending it as a reliable source...then YOU are TRULY the queen of the idiots.

Joe - give him your crown. Don't worry, you'll post some other stupidity and get it back soon enough.