Sold for $ 25 million - a property in Pacific Palisades on the American west coast, north of Los Angeles.

That was apparently exactly the price that the prominent sellers wanted for the luxurious villa with its 950 square meters.

The stately property was on the market for less than a month before it found a buyer, according to reports from the Los Angeles Times.

Kerstin Papon

Editor in business.

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The previous owners should be happy about this: actress Michelle Pfeiffer and television and film producer David E. Kelley, her husband. The couple had only acquired and renovated the Mediterranean-style luxury hostel with seven bedrooms, eleven bathrooms and views of the Riviera Country Club golf course in early 2020 for a good $ 22 million. It is not known why the property was sold or to whom. California and the area around Los Angeles are also often hit by devastating fires. It was probably not their first sale. Many people have already made a lot of money with real estate. However, you can lose a lot quickly due to the often high purchase sums or renovation costs.

In recent years, real estate prices have risen significantly in some cases - not least because of the loose monetary policy of many central banks and the low interest rates.

In this environment, quite a few “normal” property owners could come up with the idea of ​​seizing the opportunity to make the theoretical profits real through sales.

When high maintenance costs leave no choice

And indeed: The sharp rise in prices is currently being used by many property owners to realize profits, according to a survey by the real estate agent Homeday, which is active in this country. More than 220 real estate agents in their own company were asked about their experiences. Profit-taking is the most common reason for a sales decision, said 27 percent of those surveyed in August. Only the age of the owner is more common in the answers (29 percent). Real estate is often too big, too remote or not needs-based for older people, says Homeday. In view of the age structure in Germany, this is an important reason to sell. Many sick people, for example, can often only afford the high costs of accommodation in a nursing home by selling the property.when they can no longer be looked after at home. 15 percent of the brokers also name family changes and inheritances as reasons for selling.

And who will be awarded the contract? According to Homeday, the most important thing is the buyer's financial strength and decision-making speed. Sympathy is important, but secondary, says Steffen Wicker, CEO of Homeday. The sellers are interested in everything going quickly and safely. It is therefore important for interested parties to be prepared and to have the financing available so that they can strike quickly if necessary.