[Update June 19, 2013]: According to TMZ and later confirmed through property records at Blockshopper, the power couple sold this home for $6.9 million on March 11, 2013. There has been an ongoing discrepancy on the price that Braxton/Herbert originally paid for the home which is either $3.4 million or $6.9 million. I highly doubt that the price paid is $3.4 million because the property taxes are based on an assessed value of $6.9 million which doesnt match the $3.4 million figure floarting around out there. I have no idea why this discrepancy exists. So based on the $6.9 million paid, Braxton/Herbert sold at a breakeven price but that doesnt include taxes, carrying costs, any renvoations, and commissions. Commission alone for a $6.9 million home at 6% equates to $414,000 resulting in a significant loss but I could be wrong on my numbers. One other random note revealed by the Realestalker is that this home was purchased by the same people who sold it to Braxton/Herbert which seems rather fishy if you ask me.
[Original Post]:
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| Images above courtesy Prudential California Realty |
Vincent Herbert is an award winning music industry executive and producer who has worked with musical legends like Toni Braxton (of course), Destiny's Child, Whitney Houston, and Lady Gaga. Tamar Braxton (sister of Toni Braxton), is an R&B singer and songwriter and stars with Toni in a reality show, Braxton Family Values.
In the same December 13, 2011 post, I discussed about Braxton and Herbert selling their Encino home for a loss and moving into their new Hidden Hills home which they either purchased for $6.9 million or $3.4 million depending on which property records site is referenced. Those are two big discrepancies! My guess is that the $3.4 million is a typo and they purchased for $6.9 million because that $3.4 million would be one heck of a bargain based on similar comps in Hidden Hills.
However, if the $3.4 million purchase price is correct, the Braxton/Herbert duo stand to make $4,195,000 before taxes, commissions, carrying costs, etc. all in less than a year! If the $6.9 million purchase price is correct, then they stand to make $695,000 before expenses which is still impressive for owning less than a year!
You can view more details about the home on the December 13, 2011 post. Below is the listing description:
Other celebrities with recent real estate transactions or listings in Hidden Hills include the following:
However, if the $3.4 million purchase price is correct, the Braxton/Herbert duo stand to make $4,195,000 before taxes, commissions, carrying costs, etc. all in less than a year! If the $6.9 million purchase price is correct, then they stand to make $695,000 before expenses which is still impressive for owning less than a year!
You can view more details about the home on the December 13, 2011 post. Below is the listing description:
ABSOLUTELY GORGEOUS, NEWER, COUNTRY FRENCH ESTATE WITH PANORAMIC VIEWS. SPECTACULAR, TWO STORY ENTRY OPENS TO SLIDING WALLS OF GLASS. SUPERBLY FINISHED WITH EXCELLENT QUALITY & CRAFTSMANSHIP THROUGHOUT. STELLAR GOURMET KITCHEN WITH HUGE CENTER ISLAND, AMAZING HOME THEATRE WITH 125" WIDE SCREEN AND 7.2 SURROUND SOUND, BEAUTIFULLY FINISHED CUSTOM LIBRARY/STUDY, PUB/GAME ROOM WITH WET BAR AND OUTSIDE WATERFALL, LARGE FORMAL DINING ROOM WITH OPEN BEAM CEILING & ADJACENT WINE CELLAR, EXPANSIVE FAMILY ROOM WITH LARGE CUSTOM FIREPLACE, EXTRAVAGANT MASTER SUITE WITH VOLUME CEILING, ALL STONE BATH, STEAM SHOWER, SPA TUB, DUAL CUSTOM CLOSETS, FIREPLACE(S), WALK-OUT BALCONY, AND FOREVER VIEWS. AMENITIES INCLUDE A TRUE SLATE ROOF, STONE AND PLANK HARDWOOD FLOORS, "INVISIBLE" SPEAKER SYSTEM, GRANITE & MARBLE COUNTERS, ALL STAINLESS STEEL APPLIANCES, ESPRESSO CENTER, MIRRORED ELEVATOR, CONTROL 4 AUDIO-VISUAL SYSTEM, WIRED FOR CRESTRON SYSTEM, MULTIPLE SECURITY CAMERAS, EXPANSIVE BBQ/ENTERTAINING CENTER, SPARKLING POOL & SPA WITH WATER FEATURE, STONE PATIOS, MATURE OAK & PINE TREES, FOUNTAINS, LUSH LANDSCAPE, PRIVACY, AND A WONDERFUL AMBIANCE.Its not known why Braxton/Herbert are leaving after such a short stay. Additionally, based on the empty house from the listing photos, its looks like they have already left the building. Maybe a new opportunity came along in another part of the country requiring them to leave the SFV behind.
Other celebrities with recent real estate transactions or listings in Hidden Hills include the following:
- Billy Blanks (Tae Bo) who recently sold his mansion for $7.3 million.
- Ron Tutor (Construction) who previously leased to Britney Spears and is currently available for less than $10 million.
- Beau Bridges (actor) who is trying to sell for under $3 million.
- Drake (music) who recently purchased for $7.7 million.
- Ozzy and Sharon Osbourne (music/reality) who are trying to sell for close to $13 million.
- Taylor Hawkin's (Foo Fighters music) purchase of a former Howie Mandel mansion for $2.7 million.
- Morris Chestnut's short sale for $2.3 million.
- Dwayne "The Rock" Johnson's (wrestling/acting) who recently sold for $4 million.
- Also, the Kardashians/Jenners live in this area.
You can view more SFV Celebrity Real Estate here.