Oakley’s founder is billionaire is the latest victim of the slow luxury housing market – but the profit that he can still achieve is a basic problem

Janard, who is At a value of $ 1.3 billion is estimated according to Forbesand Just repeat a list He has a megamansion Beverly Hills for $ 65 million. However, this is a decrease from $ 68 million that he originally included in June 2024.

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A victim of a challenge to the luxury housing market has fallen where many of the most expensive houses in the country are priced when they reach the market. Now, Jannard stands for the loss in the returns he was expecting when he included the house for the first time.

For what he deserves, Janard paid $ 19.9 million for ownership In December 2009, so even if it can MEGAMANSION concrete This extends more than 18,000 square feet and about two acres in one of the most desirable neighborhoods in Los Angeles. The luxury real estate company, which is based in Orange County Like the list last year.

The current real estate staff is Aaron Kerman with Christie International Real Estate, who has Many lists Of more than $ 100 million in Los Angeles. Kerman and Janeard did not respond immediately luckRequests to comment on the property.

Other GNS sellers were forced to drop their inclusion prices. In May, Jennifer Lopez and Ben Affleck The price decreased Among the $ 60 million Beverly Hills Palace, at 8 million dollars Lifted the price From Manhattan Benthaus is approximately 40 % to $ 38.5 million.

Housing market factors that affect sellers

Although we are not completely outside the seller’s market, the tide has begun to shift for buyers while the lists remain in the market for a longer period and the price reduction becomes more common, according to RealTor.com.

For this reason, the price drops are not surprising, especially in the luxurious luxury Los Angeles market where buyers have more influence. luck.

“Square footage and celebrities are no longer justified by enlarged prices,” he said. “Buyers want a smart design, promotion and long -term value.”

Los Angeles Palace Tax, which applies an additional 4 % tax to property sales at least $ 5 million and 5.5 % tax for property northern $ 10 million, increases the complexity of sales and real estate prices. The cost of the tax, which the seller usually pays, is separate from the price of selling home and can be a “huge amount of money”, ” Selling sunset Emma Hernan, the star and customer of the Obenheim Group. He said luck. It also described it as a “nightmare” for the sellers and agents alike.

Hernan said that she warns her customers of the palace tax before preparing for sale. Take a $ 5 million house, for example. Hiran said that the seller would have to pay an additional $ 200,000, “he did not really treat them when they bought the house because the palace tax was not in play.”

Luna said that the trend of luxurious home prices is decreasing like Janard, Murdoch and Towz says something bigger about the housing market: more correction.

He said: “The luxury market is no longer revolving around vanity. It is about value and security.” “Buyers do mathematics, and they claim the trick.”