Josh Altman says Ben Affleck and Jennifer Lopez's mega mansion is appropriately listed at $65 million ... 'cause they're probably gonna take a hit, which is factored into the price.
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00:00I don't know if you saw, we broke the story that Jen and Ben are trying to quietly unload
00:09the house they bought together.
00:10How could I miss that story?
00:11How could I miss that story?
00:12You know, there's not so many $60 million sales this year.
00:16They're trying to sell it for $65 million, roughly.
00:21They bought it in May of 2023 for $60 million, so they're trying to sell it for $5 million
00:27more than they bought.
00:29What do you think about this?
00:30Yeah, look.
00:31I'm super familiar with that house.
00:32I actually love that house.
00:33Oh, you do?
00:34It is one of my favorite houses.
00:35Don't you love that house?
00:36Yeah, it's one of my favorite houses that I've seen in that price range in a long time.
00:40I thought they got really good value for it.
00:42It's a massive compound.
00:44There's some unique features to it that you can't see on any other type of properties
00:47that work for somebody like them that's in that mega celeb category.
00:52Look, my thoughts on price is this.
00:56You got to realize that you got to do the math when you resell a house.
00:59I see this more often than not, believe it or not.
01:01People who I sell houses to who don't like a location, they call me up and say, I know
01:05we just bought it, let's resell.
01:07Maybe they have kids that they think are going to go to a certain school that they don't
01:11get into.
01:12They say, oh, we bought the house to get into the school, but now they're not going, and
01:15then they resell.
01:16I actually see multiple sales a year where somebody buys it and changes their mind.
01:21It just happens.
01:22No matter what, when they sell this, they got to pay the mansion tax, the LA mansion
01:27tax.
01:28How much is that going to be?
01:29Five and a half percent of $61 million.
01:32We're talking almost three and a half million bucks.
01:34No matter what.
01:35That's just out the gate.
01:36Let's talk about commissions, 2% each side probably.
01:39You're looking at another two and a half million dollars.
01:42You're looking at $6 million before they even talked about breaking, even making a dime
01:48this or that.
01:49How much do you think they should be selling this house for?
01:52I think I would have priced it at exactly the same thing they priced it at.
01:5565?
01:56Yeah, you have to.
01:57You have to.
01:58Between the mansion tax commissions, you're already in the hole six million bucks.
02:03Any normal seller, business manager is going to realize they have to do that.
02:08Can I ask you this?
02:12What do you think about the fact that they listed it off the market?
02:15Could it be to keep it quiet, or is that a tactic in selling the house?
02:18I mean, look, anybody who's got their ear to the ground in this town is going to know
02:22what's going on as far as real estate in our business.
02:25I think they just want to try to keep something in their life a little below the radar, even
02:31though it's not below the radar.
02:34Anybody who sees that house, proof of funds, if you can't Google them, it's got to be some
02:39serious proof of funds where they can call the bank and verify.
02:43No one's getting into that house unless they're a serious hitter.