Michael Jackson's Neverland Ranch back on market at steep discount

LOS ANGELES - Michael Jackson's Neverland Ranch in California is back on the market for US$31 million , a steep cut from the US$100 million asking price four years ago.

The 1,093ha estate located near Los Olivos and renamed Sycamore Valley Ranch features a main house with six bedrooms along with three guest houses, a 1.6ha lake with a waterfall, tennis courts, several barns and animal shelter facilities. The dramatic price cut for the iconic property is partly due to years of drought in the region that affected the real estate market, Mr Kyle Forsyth, one of the listing agents, told US media.

He said the compound has been well maintained and"with the drought ending and the Santa Ynez Valley in full bloom", now was the best time to sell. Jackson reportedly paid US$19.5 million for the property in the 1980s but a real estate investment firm bought it in 2008 for US$22.5 million after the singer defaulted on a loan.News of the sale comes as HBO is set to air on Sunday a damning four-hour documentary titled Leaving Neverland, which includes the testimonies of two men who claim Jackson sexually abused them as children all over the ranch, including the attic, the master bedroom and the pool.

Whatever it was he was the King of Pop

Owned by Tom Barrack, one of Trump's old business buddies.

The Catholic Church should buy it...

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Market mismatch slows once-booming private property market in Penang, MalaysiaKUALA LUMPUR: Discounts, lucky draws and freebies were everywhere at property fairs across Penang over the first weekend of the Chinese New Year ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Market mismatch slows once-booming private property market in PenangChairman of the real estate housing development association in Penang, Toh Chin Leong, on how high land prices and construction costs are eating in developers’ profit margins: (📹: Aidila Razak) You are STILL making good $$$, why are you bitching!! Haha...he is only looking at the profit margin against revenue. Most developers are leveraged. ROEs can be very high. In fact, if you look at price psf, developers profit margin is among the highest margin of all. The question is how much profit 20% 30% or 40% greed knows no limits
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Tesla's 'mass market' US$35k electric car ready to order, online[SAN FRANCISCO] Tesla said Thursday its Model 3 - heralded as an electric car for the masses - is available for order online only at a price of US$35,000, with delivery promised within a month. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

China's fledgling junk bond market spawns new breed of vulture fundsWhen the Shanghai-traded bonds of conglomerate China Minsheng Investment Group plunged 40 percent over two days in January after news it had ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »