With 2,700 acres, a six-bedroom mansion, three guest houses, and a private lake, the property should be red hot.
But its asking price has been slashed from $100 million to $31 million in just four years.
Why? The controversial former owner probably has something to do with it.
Pop singer Michael Jackson’s Neverland Ranch – the property at the center of the sexual assault allegations against Jackson – is back on sale and priced to move.
The home near Santa Barbara, California was last up for sale in 2017, when it failed to find a buyer even after the price dropped to $67 million.
While agent Kyle Forsyth blamed the new, lower price on a slow market and natural disasters (wildfires and mudslides), there’s definitely some unease associated with the home where several men allege Jackson molested them as children.
Police raided the ranch in 2003 as part of one of the investigations against Jackson, turning up a collection of pornography and nude photos of children. (Jackson was acquitted of charges relating to that investigation in 2005.)
The documentary exploring the case against Jackson is also titled Leaving Neverland.
The compound, which also features a barn and animal shelter, has apparently been well maintained since Jackson’s death in 2009, and renamed Sycamore Valley Ranch.
While there was once an amusement park on the property, much of the attractions (including an electric train) are now gone. The few that remain include a replica fire department building with a replica truck, movie theater, game rooms, and a basketball court.
The main home features 12,000 square feet of space, with quarters for staff.
Jackson originally bought the ranch for $19.5 million in the ‘80s, but lost the home in 2008 after defaulting on a loan. Today the property is co-owned by the singer’s estate and a real estate investment fund.
[H/T: CBS News]