Welcome back to the Real Estate newsletter, which this week is anchored by a transmission from the rolling hills of rural Italy.
If Southern California home prices have you down — and you happen to have a dollar lying around — you’re in luck. Eager to attract new residents, towns and villages across Italy have historic homes on the market for around $1. They’d cost even less, but it’s technically illegal to give a property away for free.
Unfortunately, there are no such bargains in the still-hot L.A. market. Compare that one-buck bucolic retreat in the Italian countryside with the $14 million needed to buy a modern home above the Sunset Strip. That’s how much Ariana Grande hauled in for her nest in the Bird Streets of Hollywood Hills — $300,000 more than she paid for the place last year.
The “Most Dramatic Listing of the Week Award” goes to NBA star Ben Simmons; not because of the house itself, but the circumstances behind it. The…