Many celebrities from the arts, sports and other professions have chosen Miami, at one time or another, to buy fabulous properties either because they simply love Miami and/or because their professional careers have been centered in this city. Most recently, for example, this has been the case of world known Shaquille O'neal and Alex Rodriguez.
However, destiny brings along choices not foreseen when an original decision was made. Such was the case when both of sports greatest decided to purchase their respective Miami mansions: O'neal and Rodriguez bought espectacular mansions at Miami's Real Estate prime time but when the time came for them to sell these properties they found themselves with no other alternative at a loss. Why? Unfortunately, they were forced to put their homes up for sale precisely when the Real Estate market is going through a downslide situation and Buyers that are still in a position of spending millions of $$$$ on these type of properties are NOT willing to spend the X-tra price tag only because a "celebrity" is the Seller.
Bottom line: A claim to fame does not instantly turn into a draw magnet in a down Real Estate market!
Even the rich are being cautious when the time arrives to spending their money wisely especially if a property is involved. As a Realtor, I have always chosen to price my listings correctly trying to be fair for both the Seller, so he/she/they can sell faster, and the Buyer, so he/she/they can also buy faster.
As a Realtor I specialize in luxury waterfront properties in Miami and its neighboring cities such as Miami Beach, Golden Beach and Sunny Isles Beach dealing both with Buyers and Sellers.
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