Wednesday, September 15, 2010

Marilyn Monroe Died Here: Mark it Sold!

Entertainment, News, Life: 
We want it! 

The house that Marilyn Monroe died in sold for above asking price, raising the perennial question that surfaces every time someone successfully markets a house based on the fact that a celebrity once owned it: Does celebrity ownership add sufficient cache to make buyers reach for their checkbooks? 

The short answer: No. But it's a great way to attract free media attention. No one actually buys a house based on the fact that a celebrity once lived in it. The fact that Marilyn Monroe not only lived here, but died here as well? Still a no.

So how to explain why the Brentwood home that Monroe owned sold for $3.85 million when it was listed at a mere $3,595,000 and went into escrow within two weeks of hitting the market? Easy: It was priced well for the area and that attracted more than one buyer who could afford it.

It's a nice house, but there are plenty of nice homes on the market. For those who fret over the details, it's a 1929 hacienda that sits on a little over a half acre. It has a funky kidney-shaped pool that screams "Old Hollywood" and has lots of period details such as hardware and tiles. Beamed ceilings, a couple of fruit trees and a nice big lawn.

It was priced right. Plain and simple. The same thing was true of the home owned by actress Beverly Garland, which sold a few months ago for $100,000 more than its $1,765,000 asking price in just 11 days. It really had nothing to do with the charming Ms. Garland, who died two years ago. And she even died of natural causes.

But what do I know? The Manhattan apartment that Heath Ledger rented for $22,000 a month skyrocketed to $26,000 after the 28-year-old actor died in it of a drug overdose. Or could that just be Manhattan greed?
View gallery of the Marilyn Monroe's last home. 


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