Ben Affleck and Jennifer Lopez are having big trouble selling their marital home ... and Ben has an idea that's not going over so well with his ex-wife.
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00:00To Ben Affleck and Jennifer Lopez.
00:02Not over.
00:03It is not over.
00:04Well, real estate-wise, it's not over, because they still have their marital home, the home they bought together, for, what, $60 million?
00:14A little over $60 million.
00:16You've heard of a white elephant, right?
00:18Oh, that's a...
00:18Not the actual elephant, but the metaphor.
00:21But that is a white house.
00:21It is a white house.
00:22It is a large one.
00:23And a lot of people in the real estate biz say it is now a white elephant, meaning good luck selling it.
00:30Because it has sat on the market now for approaching a year.
00:35Yeah, coming up on a year.
00:36And they haven't gotten a serious buyer in this thing yet.
00:39And it's really been, you know, slim pickings over the last, in fact, all of this year.
00:45And it is causing, there's at least a disagreement, we'll say, between Ben and Jen on this, on selling it.
00:52And so we should say that they are divorced.
00:56They have a property settlement.
00:57The outlier in all of it is that they have separately said, and we're going to sell our marital home.
01:05And we'll deal with that.
01:07They put it on the market.
01:09And everybody we spoke with in the real estate industry said, I think they were asking, they're asking around $69 million.
01:17Everybody we spoke with said, it is way overpriced.
01:23This was a tough house to sell.
01:26When they bought it, it had been on the market a while.
01:29And they have a lot of money invested because they redid a lot.
01:32They have to pay a real estate fee.
01:34And so even if they get $68, they're basically going to break even.
01:38But everybody says $68 is dreaming.
01:42And the fact that it's been on the market for almost a year would indicate that those people are correct.
01:47That's right.
01:48So there is a division here over what to do.
01:51Yeah.
01:51Ben is in the camp of lower the price.
01:56We got to unload this thing.
01:58And he is on board with the suggestions they've gotten from people in the real estate world that they should drop it by at least, what is the number you said?
02:0815%.
02:09At least.
02:10Jennifer doesn't see it that way.
02:11Not budging.
02:12Yeah.
02:12And what's crazy about this is you have to think of how much money they are spending trying to offload this house.
02:18I mean, they're paying these realtors every month or whatever, like, the contract period is.
02:24They're paying for this house to just sit there.
02:26It's a little bizarre that she's not okay with just saying, hey, we might take a loss here, but at least we're going to get rid of it.
02:33We'll pocket some money and it'll be done and we'll cut our losses.
02:37Exactly.
02:38Cutting your losses.
02:39Like, why wouldn't you?
02:40There are huge carrying costs to this house.
02:42And a couple of problems.
02:44One, they paid cash for the house.
02:47We're told after they bought it, they did take out a mortgage.
02:52I believe it was for around $20 million.
02:54But they have a lot of cash invested in this house.
02:56And secondly, selling it now, this is not that far from the Pacific Palisades fires.
03:04And go back to the wide shot there.
03:06There is a lot of brush.
03:08Insurance is insane.
03:11Insane.
03:11Which is another reason why someone might not be, who was interested and had the money, wouldn't, might not necessarily snatch it up like that.
03:19Hi, my name is Chelsea from Providence, Rhode Island.
03:22It appears that the second time was not the charm for Ben and J-Lo.
03:26They need to agree to a price reduction, especially with the insurance concerns popping up around the wildfires.
03:33And just move forward.
03:35You know, throw money at a problem.
03:37Cut the cord.
03:37They're already divorced.
03:38Why not move on?
03:40I'd love to see Ben back in Boston with his resting Ben face and his Dunkin' Donuts cup running around.
03:47And I'd love to actually see another engagement out of J-Lo.
03:49I love a Jennifer Lopez engagement.
03:52No, they both bought houses in L.A. afterward.
03:54I don't know about Ben in Boston, but there will be another Jennifer Lopez engagement.
03:58Just stand by.
03:59There will be.
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