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January 25th, 2010
10:12 AM ET
Cher sells Hawaii estate for $8.72 million testing captions Singer, actress and now real estate-mogul Cher auctioned off her Hawaii home for $8.72 million last week, turning a pretty profit on the property flip. Cher designed the house and five bungalows around a garden courtyard and a swimming pool at the Hualalai Resort according to the Los Angeles Times. The unidentified buyer is from Arizona, according to Concierge Auctions which handled the sale. The Oscar, Grammy and Emmy winner paid $2.9 million for the site in 2009.
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She paid about 3 million for the site then built a new house, 5 bungalows, a big pool and garden courtyard for how much ? – LOTS. So she may have made some profit but she probably not a flipper. She just decided not to live there. The lead intro is pushing for this big profit angle which is just newpaper hype.
That's what she paid for the property alone, then she had the house built & furnished so not as big a profit as you would think
This isn't the first time that Cher has made a splash in the real estate market and it surely won't be the last. The woman has too much smarts and knows where to make the money. Nothing wrong with it.
With 2010 being a return of her to movies and music (new disc is to be on the way for late 2010) let the Diva have her due and the fans simply be happy to have her back in the limelight!
As far as her charitable nature, even if a time of this didn't go to the Earthquake funds, she has done more than her share of work for organinizations around the globe, many in which the general public don't want know or want to discuss simply because it is easier to jump on her for dating or her appearance.
Cher is a hell of a lady in many ways. Too bad the general media only wants to focus on Cher when it comes to yellow journalism.
Too bad that money won't buy her old face back, which was prettier than this rubber mask she is wearing now. Yes, I wonder moron paid 8 million for ANY house?
I like Cher, I really do. She's entertaining, and she's smart. I love that she doesn't care about what anybody thinks. I agree with Jeanne though. Do the new owners need a pool girl or two ? I'd be willing to do it.
Cher,
Your a legend! Also, I'm sure a very smart business woman.
I would have loved to see your show in Vegas, but alas not all
of us have money for the a ticket.
Nice chunk of change will buy her a new 20 year boy friend.
the article failed to mention how much $ she spent on upgrades people she probably did right ?
There is a sucker born every minute
Nice dress!
I guess she can now pay her plastic surgery bills.
Ya know what..I am happy for her, so she made a profit off the sale and the snide comments are un-called for. She is an entertainer and more than likley has done her share of donating to good causes..
I love Cher
ENVY?? NOT..she has a great talent that most of us don't have and if we did wouldn't have a clue as how to make $$ of it..
Be jealous and petty...in the meantime..let her make a profit off a very wise real estate deal!
What's wrong with people getting a return on their investment? Nobody has any idea of her personal financial status, charitable giving, etc. Who is anyone to judge? I say "You go, girl!" and I hope the new owners enjoy their fabulous new home!
Good for her. She's a great lady!
Way to go Cher...you're the only person making a profit in selling realestate nowadays
If I had the $$$, I would totally buy a house that Cher designed. Good flip, Cher.
This sort of real estate speculation is a good part of what got this country into this current depression. Apparently the rich just can't be rich enough.
Hope she donate her profits.....do the new owners need a pool girl?
What was her total investment? The $2.9 was just to purchase the site. We don't know how much she spent in total to mkae the changes whe wanted, so don't get too excited about her profit.. Although I'm sure she did quite well.
Exactly the kind of information thrown out to the public that induces high anxiety and greed to a paramount whereas the entire US populace once again all attempts to make real estate riches overnight as if housing was never created to be homes, but to be a bastard child of greed.
How much money do you need to be happy? or is she. or maybe she is saving to buy a company of some sort, who knows. or making up for the lack of record sales. very smart move.
So where are you going to live now?
Send a chunk of that change toward Haiti relief, would you?
It goes to show that it takes money to make money. Pity the middle class. I do love Cher, though.
very cool!! What a huge profit!
Whoa, nice flip Cher!
is this where you're going to live?