Cher Bails On Her Just-Built Home


Does Cher "Believe" in life after bad real estate moves?

Ask her after Jan. 18. That's when her seven-building Hawaii compound is going on the auction block. She never even lived in it - the property was only just finished this month. See, even celebrities are bailing out of their real estate mistakes. Cher's looking to recoup $8 to $12 million on the sale.

Here are the details:


Cher bought the land in the Hualalai Resort, on the exclusive Kona-Kohala Coast of the Big Island in 2004 and just this month completed construction on the 8,821-square-foot home. She designed the Balinese-style compound herself, but never got to live in it. Pity, she should have at least thrown a party in the rambling estate since, after all, it was "artfully contemplated for guests and entertaining," as the Concierge Auction site suggests.

The property is made up of seven separate buildings surrounding a center courtyard. The main residence has a master suite, great room, kitchen, dining room, outdoor "lanai" living area (like in "The Golden Girls"!), and a stunning infinity pool with spa overlooking the Hualalai Golf Course and the Pacific Ocean. The rest of the property is made up of one- and two-bedroom guesthouses and a media bungalow. And if you spring for the $8 mil, you get Cher's custom furniture and artwork to boot: The property is selling fully furnished with all artwork and accessories. Because, you know, what works in Hawaii doesn't always translate stateside.



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