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Jennifer Lopez Sells Bel Air Home

Date:December 28, 2009 | Author:Sarah Greenleaf | Category:Celebrity Real Estate

Not all celebrity housing news is bleak - Jennifer Lopez and husband Marc Anthony managed to sell their Bel Air home. The four bedroom, five bathroom French Farmhouse-style home was originally listed for $8.5 million, reduced to $7.9 million in May and de-listed in early December. It allegedly just sold for $7.5 million, over one million more than the $6.25 Lopez paid for it in 2005.

As Zillow reported, the power couple made real estate headlines back in September after purchasing a condo at Philippe Starck’s Icon Brickell, a high-end, high-rise condo tower in Miami, FL.

See more gorgeous Bel Air, CA homes.

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Tidbits: Sleeper House Auctioned; Cage’s Bel-Air House Sells for $10.5 MM; Virtual Property Sells for $330,000

Responses (5)

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Chris 3:22 PM - Jan 4,2010

Just to show you how far out of whack Zestimates are… Jennifer Lopezes house just sold for 1.5 million more than the figure Zillow provides:

Sold: 7.5 million
Zestimate: 5.989 million

Consumers beware — technology only goes so far and can cost you millions.
Houston TX Homes For Sale 12:26 PM - Jan 5,2010

1.5 Million/7.5 Million*100%=20% roughly. This then shows a 20% error rate in the Zillow Zestimate. I think the Zestimates at this point in the game are damaging to the consumer. Not just because in this case the valuation was 20% less than what the market could handle, but also that these valuations can be in excess of value by a comparable amount or more and that is very damaging in a market like today.

I do commend Zillow for trying to develop a instant valuation system, but they are far from it and market way to aggressively. If I went about marketing such a week tool as a real estate agent I would have the state commission send my head rolling even if I said the valuation was to be used for entertainment purposes only. So, why does Zillow get to provide poor information without any risk?
Drew Meyers 12:53 PM - Jan 5,2010

“Houston TX Homes for Sale”-
Zestimates are a starting point, not the final word on home values — that’s very different than a local professional providing a CMA or appraisal. That said, our median error percentage in Los Angeles County is 10.9%, which can be seen on our accuracy page for California.

It is a fact homes at the very low and very high end (like this one) are harder to estimate than homes in the middle tier since there are fewer similar sales to compare them to, but we still believe showing more data to the consumer & being transparent about it is better than hiding the data.
2010 Holiday Barbie 9:27 PM - Aug 7,2010

I think she and her husband live mostly in Miami anyway. I believe they want to keep the Hollywood stuff away from the kids as much as possible; hence, they sold this house.