Modern media revolves around celebrity and the personal lives of high-profile individuals, and is no different for the buying and selling of residential real estate. The media loves to know when a public figure is listing their property or in negotiations for purchasing a new abode. And as is usual in the world of celebrities, the more the media wants to know, the less they are willing to share. Celebrities go to great lengths in order to protect the privacy of their personal lives and their homes as possible, and as an article by MainStreet.com argues, often to the detriment of future resale values. The article discusses several elements that celebrities find attractive in their homes, but can be too personal for future buyers to identify with.
While exposing the name of a famous owner can get a listing extended exposure, a dream come true from a marketing standpoint, a well-known listing can also be seen as a negative by some high-end buyers. A buyer may not want to purchase a home which has gotten a lot of press due to a well-known seller being attached to the property. This also goes for high-rise apartment complexes and gated communities. Having a high-profile neighbor attracting paparazzi attention may be a negative attribute of a home or apartment driving buyers away.
Customization of a home, while usually a huge selling point, can often be overdone by celebrities making the home too personal to them, making it difficult for buyers to see themselves living in a home. While a star athlete may want an indoor sport court with their jersey number splashed across the court, or a young movie star may love the idea of a private bowling alley in their own home, a buyer may find these amenities disarming and be off-put by the home as a result.
While celebrity and fame do have positive attributes for real estate from a marketing standpoint, often the attention this garners can be viewed as negative to buyers.