Celebrity Homes

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Real estate or ‘real property’ refers to an area of land, the air above and ground or earth below it and also any structure or buildings erected on it. The synonym real property differs from real estate in that it encompasses the legal ownership of the land while real estate means the structures and fixtures in or below the land.

It is worthy to note that the term ‘internet real estate’ has been regularly used in the virtual investment community and it refers to the rights of a domain name and the relationship or similarities thereof between a superiority internet domain name and the physical real estate.

Real estate in the US

In early 2005 the pricing of houses rose nationally. The prices began to decline in 2006 but have not yet hit bottom. The increase of the rate of ‘foreclosure’ by US homeowners between 2006 and 2007 built up to a crisis in the later quarter of 2007. The mortgage crisis came about when too many homeowners were not able to pay the agreed mortgage. This is because the low rates, which they were introduced with – called sub-prime -, went back to the regular rates of interest. A warning was sent out that large decline of home values would occur. The Countrywide Financial Corporation, the largest mortgage lender in the U.S., further warns that the resurgence of in the housing division is not likely to be experienced until 2009 since the prices of homes are falling.

What Celebrities Like

Despite the American economic housing distress, celebrities are still able to purchase real estate in the form of land or an already existing structure. Being a successful celebrity gives one the freedom to purchase land or property when they find it worthy of investment. Kathy Griffin, a comedian, views that celebrities want to purchase homes that they find attractive outright, since they do not think they will keep making payments for the house in a mortgage situation. For the celebrity interested in big profits, he or she can purchase property and in a few years, that property will be worth more than originally bought. If sold, a hefty profit is reaped.

Most Unique Celebrity Homes

According to a popular listing, Oprah Winfrey owns a 23,000 square feet home in Santa Barbara, California. Actors Goldie Hawn and Kurt Russell moved to a home in Vancouver, Canada. It is estimated at $5.4 million. Madonna, the pop icon, owns a house on 1,200 acres in Wiltshire, England.

Julia Vakulenko is a licensed broker associate with Tampa4U.com Realty. She has one of the hardest working Tampa Real Estate team in Florida specializing in Brandon Real Estate and also in2Va Team for Fairfax Virginia Real Estate.

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