Zsa Zsa Gabor's House Listing for $15 Million

Zsa Zsa GaborWhen Candy Spelling decided to finally list her house -- the most expensive in America at $150 million -- she put agents through a sniff test. Literally. She invited them in and picked the team that her dog Madison, a soft-coated Wheaten terrier, showed the greatest affection for.

Coldwell Banker North agent Christophe Choo had a much easier go of things to get the coveted listing of Zsa Zsa Gabor. An earlier attempt by Gabor's husband, Frederic Prinz von Anhalt, to sell it himself for an unrealistic $28 million clearly went nowhere, and the 12,000-square-foot Bel Air home is being listed with Choo, a former fashion model and lifelong Gabor fan.

Choo says that he expects to bring the property to market at around $15 million. (New photos are being shot this week.)

Gabor, the 90-plus-year-old Hungarian sex symbol, has been in failing health. In January, she lost her right leg and has been battling pneumonia and other setbacks since. Her husband says that he is eager to move her into a more manageable living arrangement, perhaps a condo, that would be more suitable than the 20-room mansion that has been her home for about 40 years. Gabor is said to be essentially bedridden and uses a wheelchair for mobility.

The mansion, originally built for Howard Hughes and home to Elvis for about four years while he was making movies in Los Angeles, is located off Sunset Boulevard. Gabor bought it from the Presley estate in the 1970s for about $600,000.

Von Anhalt told the media in January that the upkeep on the house was almost $35,000 a month -- and more than the couple could bear on top of Zsa Zsa's health care needs.

"I just want to settle my wife's debts and keep her comfortable," he said at the time. "It gives me a big headache, and I cannot afford to keep paying it." Gabor also reportedly lost about $7 million to Bernie Madoff.

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Latoya Rutledge

The Solution

In order to get the money the seller needs from the loan they just created, the seller could sell the monthly note payments to a specialist buyer for a lump sum of cash. If the seller finds someone willing to buy the payments, now they can "have their cake and eat it too".

In summary.

Step one: Use the seller finance option to find unique customers willing to buy the house at a higher price than would have been possible otherwise and complete the real estate transaction quickly.

Step two: Decide on the terms of the deal and create the note.

Step three: If the property seller needs immediate cash to buy another house or for any other reason, their new incoming payment stream can be resold. The person who buys the future payments from the seller will provide the funding to act as a down payment on a new house, and every party involved in the deal comes out smiling.

May 22 2011 at 9:54 PM Report abuse rate up rate down Reply
Grammma Peg

ZaZa deserves some down sizing and private time!!

May 21 2011 at 9:53 PM Report abuse rate up rate down Reply
Grammma Peg

There comes a time when we all have to make a descision to down size. It isn't a sin. Zaza deserves some private time.

May 21 2011 at 9:52 PM Report abuse rate up rate down Reply
Latoya Rutledge

Seller financing can be a great way to get a house sold without slashing the price. By recognizing the millions of people who can't get traditional financing as potential buyers, resourceful property sellers (and their real estate agents) can minimize their time investment in getting a property sold. Even better, sellers who offer financing can usually get a higher asking price for their property, even in the slowest markets. Clearly this is a win-win situation.

May 20 2011 at 2:48 PM Report abuse rate up rate down Reply

I think he should take what best offer he get's.And go fast before he ends up where he can't even sell it.
Don't be so greedy.

May 19 2011 at 9:29 PM Report abuse rate up rate down Reply
1 reply to sunglow1947's comment
Helen Davies

Asking $28Mil for a $15 Mil home is a $13 Mil error. May he learn some integrity.

May 25 2011 at 8:50 PM Report abuse rate up rate down Reply

Poor Zsa Zsa she said when Elizabeth Taylor died she was next.. I wish her well. Times are hard for everyone today.

May 18 2011 at 4:08 AM Report abuse rate up rate down Reply

I can relate to the economy downside as well. With just two Lear Jets remaining for personal traveling abroad to vacation homes in Hawaii, Austrialia, and South America, and a hunting lodge in Alaska, which needs roof repair. I'm down to driving a Corvette to the city, the Bugatti's only gets 8 mpg. Golf club memberships have increased more than $10K per year. Reducing utility costs required draining one of the indoor pools in our 38,000 sq. ft home, and laying off one lifeguard, although I was able to keep my grounds keeper. It has been tough having to stay home 12 days this month as well. I can certainly relate with Zsa Zsa in these tough economic times.

May 18 2011 at 3:29 AM Report abuse +1 rate up rate down Reply
1 reply to fbq181's comment


May 18 2011 at 5:45 AM Report abuse rate up rate down Reply

I never could grasp the concept of these celebrities who own mansions full of priceless treasures ... and NO I amnot jealous of them either. As for Zsa Zsa's husband's comment about having to take care of everything ... POOR BABY!!! I was raised to believe that was part of a husband's responsibility ... especially when the wife has as many medical complications. His "financial difficulty" is an insult to people who are struggling to make ends meet just keeping a simple roof over their head. Most celebrities have more money than they could spend in two lifetimes.

May 18 2011 at 1:59 AM Report abuse rate up rate down Reply

. "It gives me a big headache, and I cannot afford to keep paying it."

This guy hasn't paid for a cup of coffee since he married her.

May 18 2011 at 1:12 AM Report abuse +2 rate up rate down Reply

scuz me darlin but your in my way

May 17 2011 at 10:38 PM Report abuse -1 rate up rate down Reply