Filed under: Famous Homes, Celebrity Homes
Josh Altman, a Hollywood realtor and the newest cast member of "Million Dollar Listing," spills the beans on celebrity real estate shopping.Real estate: It's one of those topics that anyone can talk about, but Josh Altman, the latest addition to the cast of BRAVO's "Million Dollar Listing," can really talk real estate. Altman, who was recruited to join the show for his A-list clientele, including Kim Kardashian, rapper Eve and football pro Reggie Bush, has helped clients buy and sell dozens of million dollar listings. In fact, he's sold eight of his personal houses in six years!
Josh Altman is the latest realtor to join the show Million Dollar Listing. Photo: BRAVO
ShelterPop caught up with Josh Altman to ask him if it's true: When it comes to real estate, are celebrities just like us? Turns out, the answer is both yes and no:
They're just like us!
The firm matters. Whether you're shopping for a one bedroom in Cleveland or a $20 million dollar manse in the Hollywood Hills, Altman says the quality and reputation of the real estate firm is critical to your sale. For example, in Altman's line of work, which is super-high-end, it's important for a firm to have listings internationally for prospective foreign buyers.
You have to know your comps. Price is dependent on recent comparable sales in your area. "Look at the comps around your area," says Altman. "If every five bedroom is selling for $3 million and there's a lot of inventory out there, there's no way you're getting $4 million." The same is true at any price point.
Buying a house is a big deal. Buying a house is a huge investment -- even for celebrities. "For 99% of people, it's the biggest investment of their lives," says Altman. (Though that private yacht might rank up there too.)
Where you are counts. "At the end of the day, it's location, location, location," says Altman of the time-tested wisdom about real estate. Celebs and regular folks alike want the best location their money can buy.
Money is money. Period. Says Altman, "If you're a billionaire, a millionaire or a regular Joe, everyone is going to try to bargain and get the best deal." So, don't be afraid to bargain, but do so in a way that is respectful and informed.
Personal effects are a no-no. Whether you're a Hollywood playboy with a mirror above your bed or a midwestern family with an excess of family photos and children's toys, Altman says that removing the clutter and personal tchotchkes is necessary for making your house sale-ready.
However, they're nothing like us at all...
They've got cash. While Altman notes that everyone likes to bargain, he admits it's much easier for the super rich, who can often offer to pay all in cash. "It makes the deal cleaner and easier," says Altman. "In turn, you can get an even better deal."
Their checklists are more luxurious. While most of us are hoping for a little extra space in the garage and a recently replaced boiler, jet-setters in LA have two decidedly luxurious must-haves: A pool and a screening room. "You've gotta have a screening room," insists Altman. "Half the people in this town are in the movie business."
Their homes are immaculate. "The good thing about celebrities is that most have interior designers, which is a HUGE help," says Altman. If you can afford it, he recommends bringing in a design professional to help prepare your home for resale.
Their bodyguards need a place to stay. While everyone enjoys privacy, Altman notes than many of his clients are looking for extreme levels of solitude. "Longer gated driveways, security systems and space for the security to be on the property are key," says Altman who caters to celebrities and bold-faced names.
Details matter more. Forget your wallet-friendly, flip-this-house notions about selling a home. "You can't go cheap on an expensive house," says Altman. "When it comes time to sell the property, you're not going to trick a high-end client -- they know what's good."
OK, so obviously it's a little easier to buy and sell real estate when you're a big star, but we'll add one thing we're grateful for as lowly non-celebs: The abscence of paparazzi!
More celebrity real estate gossip:
J. Lo's house is more elegant than we expected
Lindsay Lohan's Post Rehab House
Cheap Chic Ideas From Gwyneth's Bedroom