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Thursday, June 4, 2009

Po' 50

Cent gives up on selling Home

50 CENT has proved he will never succeed in real estate - he has pulled his home off the market after over-pricing it by more than $13 million.

The In Da Club hitmaker paid $5 million for the mansion in Farrington, Connecticut in 2003 but added $18.5 million to the price tag when he put the property up for sale in 2007.

He dropped its value to $14.5 million late last year (08) after failing to attract a buyer - but it still didn’t sell, and has now been taken off the market.

And a real estate expert is adamant the reason the 19-bedroom, 50,000-square-foot house remained unsold for two years is because it was hugely over-priced.

Prudential Premier Homes agent Rob Giuffra says, “The house is not worth $1 over $5 million. Celebrities often overvalue a house, so they keep dropping in price. That home in that location is not worth anywhere near $14 million, and it will never sell for that, no matter how long you leave it on the market.”

50 Cent has spent an estimated $10 million renovating the property and adding attractions including a giant hot tub and a dance floor.

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