Yes, the higher end of the real estate market is finally feeling the pinch. Just a few months ago, actress Amy Yasbeck (widow of John Ritter) put her 5,974-square-foot house at 8115 Mulholland Terrace in the Hollywood Hills, where it sat until December 2008 with a $2.495 million asking price. Perhaps perspective buyers are put off by the rumor that this is house where Rick James allegedly imprisoned and tortured a woman. (The superfreak was never convicted. For that alleged imprisonment). The listing describes the house as a "wonderful country manor house in the midst of being updated. 33,000 square foot lot with privacy and panoramic views of mountains and city lights." The four bedroom, three-and-a-half bath house, which serves as a secondary residence for the Yasbecks, also has a pool, waterfall and footbridge, and a two-story cabana. Cut to February, with the house newly relisted with a substantial price drop. New asking price: $2.05 million or $343 per square foot, with an 18% reduction from the previous listing price.
· 8115 Mulholland Terrace, Los Angeles CA 90046 [Redfin]
· Celebrity Real Estate Wrap: Michael Ovitz, Randolph Duke, Amy Yasbeck, Gossip Girl Co-Creator Selling [Curbed LA]