Zillow has just learned that Jon and Kate Gosselin have finally sold their Elizabethtown, PA starter home, located at 2190 Andrew Avenue, Elizabethtown, PA 17022 — for a loss.
The property, which was the setting for the start of the “Jon & Kate Plus 8″ reality TV series, was originally listed for sale back in March of 2009 for $325,000. After 10 months, one price reduction, a lien, and a much-publicized divorce, the home finally sold for $258,000 — that’s 21% off the original list price and $22,000 less than the couple paid for the home back in 2006**.
Original List Price: $325,000 (March ‘09)
Price Reduction: $299,900 (Sept ‘09)
Final Sale Price: $258,000 (Jan ‘10)
*21% price reduction
**Gosselin’s paid $280,000 for home in 2006
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The Gosselins are not alone in their real estate woes. According to December data from Zillow, 14% of all homes in Elizabethtown sold for less than the previous purchase price. The Zillow Home Value Index for Elizabethtown, PA is $153,900, down 3.6% from the previous year.
The Gosselin’s are also not the first celebrities to foolishly think that fame will expedite the sale of their home. While famous homes (and their owners) can draw attention to property listings, buyers are often wary to move into such a public home. Celebrity price reductions and celebrity foreclosures are all too common.
The media-loving couple has yet to disappear from the headlines. Kate has made hair extensions front page news and is preparing to release her third book in April “I Just Want You to Know: Letters to My Kids on Love, Faith and Family.” Jon, on the other hand, continues to sport Ed Hardy T-Shirts and schmooze with younger women. He is also rumored to be hard up for cash and negotiating with TLC to resume filming his children again.
*See interior photos of the Gosselin home.
**See more Elizabethtown, PA homes for sale
> See percentage of Pennsylvania homes sold for a loss
