Celebrity Roundup: Stockwell’s Hancock Flip

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Coupla celebrity items that caught our eye: Big Time Listings notes that actor-writer John Stockwell scored a handsome profit on his Hancock Park house. Purchased for just $550,000 in 1995, the five-bedroom, 5,043 SF house sold in June for $3.55 million. By our math that is a return of 545% in 12 years. (Note: We originally referred to him as John ‘Rockwell,’ which proves we don’t get out much. Of course, it’s John Stockwell. Our bad.)

And who knew John Cleese had done so well for himself? Ruth Ryon reports he just put his Montecito horse ranch on the market for $28 million. The Cleeses are not leaving Montecito -- they own another home there.

Speaking of Montecito, The L.A. Times profiles the community today, and the historical chart showing median sales prices is worth a second look:

1990...$837,500
1995...$525,000
2000...$1,100,000
2006...$2,575,000
*2007...$2,900,000

A few headlines come to mind: The median price has shot up 453% since 1995, and 164% since 2000, making Montecito the seventh-highest-priced ZIP Code in the U.S., according to Forbes. Here’s one more headline: Prices do fall in exclusive areas. Look at 1990 to 1995: Prices fell 37% over five years.

Photo Credit: Big Time Listings