Kara DioGuardi Breaks Rule No. 1 for House Listings

By Ann Brenoff | Posted Sep 26th 2011 5:50PM

Updated Sep 28th 2011 2:27PM

The cardinal rule of real estate pricing -- let's call it the Wal-Mart rule -- is that you price your home with a number ending with the digit "9," not "0." Not only does it sound more bargain-like, but the listing will pop up in the lower-priced searches if it ends in "9."

Apparently, former "American Idol" judge Kara DioGuardi has never shopped at Wal-Mart. She just priced her home in Studio City, Calif., at $10 million.

Hopefully, for that annoying extra $1, no one will overlook this extensively remodeled and furnished architectural home that sits on 3.5 acres. The 7,600-square-foot gated house has five bedrooms and 6.5 bathrooms. There is a 20-foot tall original river rock fireplace, a solarium, infinity pool and views of the mountains and city.

DioGuardi (pictured at left), who has tons of creds as a songwriter and music producer, is now the head judge on Bravo's singer-songwriter competition series, "Platinum Hit." And we bet she's never bought a song from iTunes with a price that ended in a zero.

Gallery: See Kara DioGuardi's Studio City Home

Click on the images below to see some other high-end listings in Studio City and the Los Angeles area:

See other celebrity real estate and other homes for sale in the Studio City, Calif., area on AOL Real Estate.

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Also see:
Kate Walsh Hoping for a House Call on L.A. Home
How's Sharon Stone's Real Estate Instinct?
Hillary Duff Lists L.A.-Area Home, Again

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Reader Comments (10)

by GetReal - September 28th 2011 @ 8:20AM

WHO??

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by Kevin D. - September 28th 2011 @ 10:32AM

ANYONE with half a brain is insulted with a $9.99 price tag......IT"S TEN DOLLARS. No one should be shopping at Chinamart either. How many IDIOTS see $9.99 price tag and think OK thats great cuz I would never pay $10.00 for that. I will tell you who thinks that the same IDIOTS that shop at Chinamart.

by wayne - September 28th 2011 @ 2:11PM

LOL...and where do you shop? Americamart? ROLOL

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by K - September 28th 2011 @ 2:01PM

Well Kara must be doing something right since for that $1.00 added to her price she has received all the publicity (from your article) that she would have never received if she simply dropped her price by $1.00 as you suggested.

So sad that so many big shot rich people are having to sell their million dollar properties. Somehow I just get the best laughs from seeing these rich pigs losing so much. And too bad that Kara is going to lose several millions on this home and it doesn't even have anything to do with the over-pricing of 1 dollar! Maybe Pres Obama or someone in the House or Senate will bail them all out like they have for other rich/companies/military etc and lose/waste more of "taxpayers" monies..borrowed or not!

by Jim - September 28th 2011 @ 2:39PM

I am in the real estate business, and yes, ending in 9 does make the price a little more attractive but ending in 0 makes it more accessable to those viewing. Most people search in intervals of 5 and 10. For example, those searching based on price might look between 9 million & 10 million or between 10 million & 11 million. If the home is priced at $10,000,000 exactly, it will be featured in both searches, rather than just one search if listed at $9,999,999.

by Iris - September 28th 2011 @ 7:36PM

Brilliant thinking

by Dale - September 28th 2011 @ 5:28PM

I totally agree both with Kevin D and with K. Look at all the publicity she got for just adding the dollar. PLUS, that old 99 cent thing is so old does anyone really believe they're getting a deal when they see that number? Or do they, like myself, think it looks just plain stupid and automatically round up anyway.

by Dr. Dreisdale - October 5th 2011 @ 5:43PM

I hate to break this to Ann Brenoff, the writer of this article, but I can't help but wonder if it ever occurred to her that sometimes one doesn't WANT something to "sound more bargain-like" or "pop up in the lower-priced searches..." I highly doubt that she is more aware of fundamental real estate practices like "the cardinal rule of real estate pricing" than the realtor representing the fabulous home of Kara DioGuardi.

That said, this article has an unappealing, arrogant edge to it that is indicative of a myopic viewpoint, and it also reeks of the unmistakable pungent smell of sour grapes.

Yeeeeeesh.

by Judy Lynn Clark Ferguson - October 14th 2011 @ 10:58PM

The bank will have someone to purchase the home back and make a fortune off of it. These foreclosures are nothing other than a racket and Congress needs to act.

10 Comments / 1 Pages