Eight years after the King of Pop’s death Neverland Ranch is still on the market. The disgraced property is proving to be a very hard sell.
A lot of rich and famous real estate buyers like to own a piece of history. But the Ranch’s bad legacy is making it tough for real estate agents to shift the property.
The property has been on the market for months even though it’s located in one of the wealthiest parts of the United States. In a smart move by Coldwell Banker, real estate agent, the name of the property was erased and changed to ‘Sycamore Valley Ranch’. Although this is still not enough to drum up any interest in property.
Sycamore Valley Ranch is currently on the market for $67 million, a nearly $35 million reduction on the prior price of roughly $100 million.
At face-value this may seem like a steal for the 2700 acre property in the idyllic Santa Barbara location, which also includes guest houses, tennis courts, stables and incredible views.
After the property was renamed it officially went on sale back in February. Here is what the description of the ranch written by Coldwell.
“A property of quintessential California beauty and rare privacy, Sycamore Valley Ranch formerly known as Neverland Ranch, is both residence and retreat. Three parcels, totalling approximately 2,700 acres, border on historic family ranches and the Los Padres National Forest in Southern California’s most unique wine-growing region.”
It will probably take decades to erase the sordid past that haunts the property. At one point it was probably an amazing place to be but now, not so much.
The legacy of the place is holding it back and putting off any potential buyers. The allegations Michael Jackson faced are tarnishing his career although his music remains incredible and no one has come close to matching his talent.
This is a shame because Sycamore Valley Ranch is a stunning piece of land.
Here is a list of some of the things included with the property.
- 12,598 square foot main residence
- 2,700 acre property adjoining Los Padres National Forest
- 16 bedrooms.
- 29 bathrooms.
- A separate lake.
- Pool house with 14-foot deep ‘lagoon style’ pool.
- Spacious movie theater.
- Dance studio.
- Multiple barns.
- Horse corrals.
- Separate staff facilities.