No one ever knows what will happen in the real estate market. Many industry players have accepted that purchases will either be wins or losses. Some people have bought houses that doubled in value after a few years, while others sell at heavily discounted prices—if they even get buyers at all.

But why won’t these houses sell after they were hyped so much in the past that they cost a fortune? Could these celebrity mansions be so expensive, making only a few people bid on them? Or have the houses been overly customized to the point that their value has been reduced?

The Decline in Value of Matt Lauer’s Waterfront Estate

The former anchor of NBC’s “Today” show, Matt Lauer, may have brought his misfortune upon himself. We would rather not revisit the misconduct scandals he got embroiled in, but they impacted many aspects of his life. The value of his house in the Hamptons, New York, was also affected, as no one wanted to do business with him.

Lauer bought the property from famous actor Richard Gere for $36.5 million in 2016 and listed it three years later for $44.8 million. But the 6.3-acre estate continued to decline in value until it sold for an undisclosed amount in 2022.

Drastic Price Cut on Neverland Ranch