Hey Appraiser – How Much Value Does My Home Boxing Ring Add? What if Mike Tyson Use to Own My Home?

Celebrity homes are a bright slice of the high-end real-estate market well beyond Hollywood. And for stars with money and imagination to spare, unique or quirky add-ons are routine. Neverland Ranch, the late Michael Jackson’s former Southern California ode to childhood — amusement park, bumper cars and all — is not alone as an example of personalized architectural opulence.

According to real estate expert and author Michael Corbett, who hosts “Mansions and Millionaires” on NBC’s “Extra,” quirky add-ons don’t necessarily make homes more valuable to potential buyers, especially if those quirks — say, a boxing ring, or a $70,000 wall of candy — limit the field of those interested. A celebrity name attached, though, does help.

“The rule of thumb is that celebrity homes don’t necessarily sell because they’re celebrity homes,” Corbett says. “Yet celebrities definitely increase marketability of a property. That increases the speed of the sale and sometimes the value of the property because of the marketability.”

read more at: http://www.utsandiego.com/news/2014/dec/23/quirky-add-ons-a-common-feature-of-celebrity-homes/

disclaimer: for information and entertainment purposes only

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