Serena Williams Slices Price on Bel Air Mansion—So What Happened?
Serena Williams can't win every match. A couple of local agents help us figure out why the tennis great cut $2 million off the price of her Bel Air home.
Claudine Zap, provided by
Published 12:30 pm PDT, Wednesday, September 26, 2018
Tennis great Serena Williams is serving up a price cut on her Bel Air estate. The mansion in the Stone Canyon area of Los Angeles initially landed on the market about a year ago for $12 million. It's now listed for $10 million.
Will this price cut give Williams the sales advantage?
Let’s take a tour and see what the home offers (no tennis court, alas). According to the listing, the baby blue–hued mansion on 2.76 acres is “one of the largest lots on Stone Canyon."
The private, parklike estate includes a mix of updates along with plenty of original charm. It features a semicircular living room, white marble flooring, and glass doors leading out to the gardens. There’s a formal dining room with black and white tiles, an updated kitchen with breakfast room, six bedrooms, six baths, a wood-paneled den, and, naturally, a beauty salon. The master suite comes with a dressing room and a marble bath.
Outside there's a loggia and pool, and the landscaped grounds are filled with trails.
It sounds like a grand slam to us. So why has the mansion been on the market for nearly a year?
One local agent suggested taking a cue from "Fixer Upper."
"The grounds are fantastic,” says Marshall Peck of Douglas Elliman. “But there are many homes for sale on Stone Canyon. To move the sale, I'd put in beautiful, wide-plank wood floors on the main floor, which is a preference to most buyers of this style of home."
Flooring options aside, the price cut will have to suffice for now. Potential buyers could buy the discounted (yet gorgeous!) mansion as is and add their own tasteful upgrades. Shiplap completely optional.
Beverly Hills–based agent Connie Blankenship of Douglas Elliman says the home's original price may have put off potential buyers.
“We've been in a seller's market over the past few years,” she says. “On a micro level, nothing will affect the marketability of a particular property more than the initial price offering. I've found that the market will always dictate the true value of a property, and it's better to be on the right side of valuation from Day 1. It's always good practice to set the initial price as close to where comps prove it should eventually sell.”
The tennis legend purchased the 6,100-square-foot home in 2006 for $6,612,000. So even with the recent price cut, Williams stands to come out a winner.
Right before the Bel Air home first came to market, Williams purchased a brand-new Beverly Hills mansion with her husband, Reddit co-founder Alexis Ohanian. It was an eventful year as the couple welcomed a child last fall, Alexis Olympia Ohanian Jr. The couple also own a pied-à-terre in Paris and a large home in Palm Beach Gardens, FL.
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