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Ellen DeGeneres and Portia de Rossi have changed the asking price of their 26-acre equestrian ranch after only two weeks on the market. But in an interesting twist, they have actually increased the price — by $2 million.
The price increase comes not only amid a strong real estate market but also on the heels of a feature in April’s Elle Décor. It’s not unusual for celebrities and other high-profile homeowners to seek coverage in a magazine as a way to give an inside look at a property before listing it.
For example, Reese Witherspoon showed off her Ojai, Calif., home in September’s Elle Décor and weeks later listed it for $10 million. In March, she slashed the asking price by $2.75 million. It’s still on the market.
DeGeneres and de Rossi bought their ranch in 2009 for $8.5 million. They first tried to sell it in 2011, asking $16.5 million before dropping the price to $14.9 million. That listing was canceled in September 2012.
The ranch is said to include eight farmhouse cottages, horse stables, two barns, trails, a yoga pavilion, tree house and a tennis court. It includes eight beds and 10 1/2 baths, and the price includes all furnishings, according to the listing.
The couple have been on a home buying and selling spree of late: In May, they purchased a home in Montecito, Calif., for $26.5 million and are reportedly about to sell their Beverly Hills penthouse for just under $900,000. A year ago, they bought and sold a Malibu home that had been owned by Brad Pitt and sold another Beverly Hills home to Ryan Seacrest.
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