Not all properties lost value between 2007 and 2010! The 6000+ square foot Trousdale Estates home originally built for Groucho Marx was purchased in 2007 for $4.675 million but listed for sale last August at $12.9 million! That being a little rich, it was eventually reduced to $9.85 million and sold early in February for
$8.8 million.
Hot Property: Rebuilt Groucho Marx home sells in Beverly Hills Money & Company Los Angeles Times
Note: Research tells me the bedrooms/baths declined from 7/7 to 5/6, so some considerabe remodeling was evidently performed in order to make the home more appealing to a 21st Century buyer. Still, 88% appreciation in 3 years ain't bad, though they'd been hoping for 275%!! That's what I call a successful fixer. - David
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