Pierce Brosnan Drops Malibu Home Price

Pierce Brosnan is best-known for his cool and collected demeanor playing James Bond in the movies and Remington Steele on TV, as well as starring in the world smash hit film, 2008's Mamma Mia! But after dropping the asking price of his longtime home in Malibu, Calif., by $400,000, one could hardly blame him for getting a little steamed.

The Irish-born Pierce Brosnan and his second wife Keely Shay Smith -- his first wife died of cancer in 1991 -- have occupied the home, which has sweeping views of the Pacific Ocean, for 15 years. After putting the home on the market in June 2010 at $3,900,000, they dropped it to $3,500,000 in early December.

Brosnan will do ok, even with the drastic price drop -- he bought the house out of foreclosure in October 1996 for $600,000. Despite its view, the home is modest by celebrity standards, with 3 bedrooms and 3.5 bathrooms included in 3,412 square feet. The master suite includes a private sitting area, a balcony and bathroom with a steam shower, a claw-foot tub and a fireplace.

The style of the home is a mix of Carribbean, Mediterranean and Tuscan influences, with a long driveway leading up to the home, which isn't far off from the traffic of Pacific Coast Highway.

No doubt Brosnan is shaken by the time it has taken to sell his place, but he certainly is not stirred.




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Latoya Rutledge

When it comes to selling real estate, one of the most difficult and frustrating situations for sellers is when market conditions make it nearly impossible to sell at the desired price point. A high initial listing price might be because the seller simply has an unrealistic idea of how their house stacks up against the competition in the area, or because the owner needs to sell for a set minimum price in order to pay off their loan against the property.

With traditional property sales methods, the only way to prevent the property from sitting on the market indefinitely is to keep dropping the price. Unfortunately, this technique doesn't always work - especially if the seller is unwilling to "discount" their house by much.

In areas flooded with homes for sale, reducing the asking price slightly will not bring the desired result. In fact, it's common that the property will continue to sit on the market without offers, alongside the multitude of other unsold properties with similarly reduced prices.
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April 19 2011 at 5:33 PM Report abuse rate up rate down Reply

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