The real estate market might be soft as over a million homeowners face the prospect of default, but we can all take comfort in this bit of news: Ellen DeGeneres has sold her Santa Barbara estate for $20 million -- 27% more than she paid just one year ago.That kind of return is reminiscent of the heady days of the bubble. Santa Barbara real estate sales fell 40% this past October from a year earlier, according to the Wall Street Journal. Median prices fell 9.2%, according to research firm DataQuick. But Santa Barbara has been a bright spot, with sales up 25%. The median price of a home in Santa Barbara is an astounding $1.28 million.
Congratulations to Ms. DeGeneres for her investment savvy. Recently, Sarah Gilbert wrote about Kelsey Grammar's real estate speculation forays on our sister blog, Luxist.
If following the real estate deals of celebrities is something that interests you, the frequently-updated Big Time Listing Blog should keep you happy.
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Reader Comments (Page 1 of 3)
12-07-2007 @ 6:28PM
Brockage said...
Well, lesbians buy and sell houses too: it's not a moral vision that applies here, but the market; it's good that somebody out there in Cal is actually making a buck on a house sale. Here's to Ellen.
12-07-2007 @ 6:33PM
Doug said...
The rich get richer.Maybe she'll buy me lunch, if I humor her.
12-07-2007 @ 7:03PM
Doug said...
And I'm standing here,afriad to touch the thermostat, set at 64.Geeez,Ellen.
12-07-2007 @ 7:59PM
joesesto said...
The median price for California is not $1.2M, or anywhere near that. The median price for Southern Santa Barbara County homes has varied from $1.0M to $1.3M for a few years. Sales of estates in Montecito cause wide variations in the median price for the south county..
12-08-2007 @ 10:32AM
Norm said...
Of course something was bound to go up. Just because she's a lezzer doesn't mean things always have to be "going down".
:)
12-08-2007 @ 10:41AM
Annie said...
I saw her house advertised on her show and it was absolutely beautiful. She had this green green lawn and down the middle about a foot wide and about 35 long was this tiled water leading to a fountain. She was up the hill from Oprah's. She made fun of her bath by having her staff in their having a party, it was funny and oh so beautiful.
12-12-2007 @ 6:53AM
trizone said...
It's good to hear that at least one more rich person has gotten a good return for their investment. It would have been devastating if she had only made a 17% return on her home.
Don't wipe that up, I was dripping with sarcasm.
12-12-2007 @ 7:51AM
Sharell said...
Good for her. It doesn't matter what other people think. It is not their business. Why shouldn't she sell her house and make money. She is really a good person. Let it go.
12-12-2007 @ 8:01AM
Mike F said...
why would anyone buy a house from an anti-labor person.she is crossing a picket line everyday to do her show.I REFUSE to watch it or buy any products her sponsors sell
12-12-2007 @ 8:36AM
Philsy said...
You people make me sick. Are you jealous because she is extremely successful and as a result, RICH. In this homophobic world, I give her credit for beating the odds and winning the hearts of most. You all chose your career paths, and she choose hers. Obviously hers pays better than yours.........so get over it.
12-12-2007 @ 8:41AM
Philsy said...
Mike, what about the non-union people that would have been put out of work had she not crossed the picket lines. Don't they count. Don't the sponsors count. Or is all about the over paid unioin workers. Give me break. You must be a teamster that needs cult watching your back 24/7.
12-12-2007 @ 8:44AM
w said...
Selling her home doesn't prove that she has any "investment savvy." That just proves that her Realtor did her job, and she sold her house to someone who wasn't too aware of the area's current price comps.
12-12-2007 @ 9:22AM
Speakout said...
Her sexuality has nothing to do with her standing up for what she believes in, Crossing the picket line earns her alot in my eyes, How much is enough, most Americans are struggling to get by, we do not make 1M or more a show, But we are the one's who foot the bill when we buy the products that sponser the shows. This is what makes our country so great the freedom of choice. So Merry Christmas to Ellen, and for those of you who have a problem with Christmas well that is your choice, My choice is Christmas, HO HO HO, The right to believe, and not trying to force on others my believes. Think for yourself and be yourself like Ellen. Great job Ellen and no I am not Gay for those of you who think that the the only reason to defend someone is for personal reasons.
12-12-2007 @ 9:30AM
Lu said...
It's funny how people dis others who have more then them. I'm an average mother of 6 who works hard and is not wealthy by any means. If you sold your house for a profit, I would be happy for you. It's easy for people to sit and make fun of a hard working woman who made a lot of money selling her house. You have the same rights. Get out and work for it like she does. And being a Lesbien has nothing to do with it either. Your jealous over someone elses fortune. They work for it and are very generous in helping others in need. Someone has to be. So many of these actors and actresses give, give, give. Someone has to step up to the plate and do so. Give credit where credit is due and get up off your duff and earn your own rewards.
12-12-2007 @ 9:41AM
Rosen said...
I love Ellen and I would love to have a house,that was level,every room is off,we just found out that our home was a hazzard.(Sinking another words.My husband an I are in our 50's.We try to fix as much as we can,when we can.We drive a 1988 mitzubitshi and thats about as bad as the house.God Bless you Ellen,Happy Holidays.
12-12-2007 @ 9:46AM
daisy said...
Good for her. Why do people feel compelled to have to say she is a lesbian. It has nothing to do with her house sale. I was formerly obese. Whenever I did anything, good or bad, there was always a mention of my weight. There was once a mention of me in a local California publication about a committee I was on and the mention included " a heavyset member of the committee Daisy BlahBlah said....." I was so hurt and unhappy. Now that I m normal (thank you low carb eating and smartsole http://www.smartsole.com and my pedometer), people don't include my weight in my description!
12-12-2007 @ 9:54AM
David said...
Will she name her new home "The Pink Taco"?
12-12-2007 @ 10:02AM
Fresh 1 said...
she'll be outta that house lickedy split now : O
12-12-2007 @ 10:12AM
tnipnad said...
Will she give the profit to the homeless? After all, that's what the left is trying to do to those of us who work hard for what we have. They want to take it from us and give it to the "less fortunate." Well, to quote the Scripture, the Apostle Paul said, "if a man doesn't work, he doesn't eat." I assume that applies to a place to live as well.
12-12-2007 @ 10:21AM
Wayne White said...
Good for Ellen!!! We should all be as lucky with our homes. And to the idiot who won't watch her show because she is anti union (she goes to work everyday across picket lines), screw you....
She wants to work, let her. We want to see her. We could care less about the strikes. The USA now is a non manufacturing country and our dollar is worth less and less every year. Guess why? It's not management's fault. Somebody somewhere has to work if anything is going to get done. The "something for nothing" mentality of our new generation has been created by the "union mentality". I for one am sick of it and don't waste your time babbling your useless union rhetoric. I won't be back to read it, and no one else wants to either.