Mark Wahlberg takes his $87.5M Beverly Hills mansion off the market

Mark Wahlberg takes his $87.5M Beverly Hills mansion OFF the market as soaring mortgage rates scare prospective homebuyers away

Wahlberg reportedly removed the listing for his Beverly Hills mansion amid the cooling housing market
He initially listed the $87.5 million mega-mansion in April and announced plans to move to Nevada
But with mortgage rates topping 7% this week, homebuyer demand has retreated dramatically
Apparently unwilling to settle for a lower price, Wahlberg likely plans to wait until the market rebounds

Actor Mark Wahlberg has reportedly taken his lavish Beverly Hills mansion off the market, apparently realizing he will have to wait for the housing market to rebound in order to command top dollar.

The $87.5 million listing was first posted in April, but was recently taken down after Wahlberg realized that soaring mortgage rates were depressing the housing market, according to the New York Post.

Wahlberg has already purchased new land in Nevada, where he says he plans to relocate in search of lower taxes and better quality of life, but it seems he has the resources and patience to wait out the cooling housing market for better terms.

Nationally, the average contract rate on a 30-year fixed-rate mortgage topped 7 percent this week, more than double the start of the year and the highest since 2001.

Home sales volumes have plunged as buyers flee the market, and as Wahlberg’s case shows, many sellers are also having second thoughts.

Actor Mark Wahlberg has reportedly taken his lavish Beverly Hills mansion off the market, apparently realizing he will have to wait for the housing market to rebound in order to command top dollar

The massive piece of property is nestled in the canyon just below Mulholland Highway, and overlooks the city of Los Angeles

The 50-year-old actor initially splashed out $8.25million for a dirt lot in 2009 in the exclusive North Beverly Park community located in the canyon overlooking Hollywood, and enlisted the help of architect Richard Landry of The Landry Design Group to create the home of his dreams

The average contract rate on a 30-year fixed-rate mortgage rose to 7.16% for the week ending October 21, up from 6.94% the prior week

Wahlberg revealed earlier this month that he is leaving his longtime home in Los Angeles in favor of Nevada in a quest to eventually build ‘Hollywood 2.0’ in Sin City.

In April, Wahlberg made the move to sell his Beverly Hills manse 13 years after purchasing the plot of land and building his dream family home.

The actor initially splashed out $8.25million for a dirt lot in 2009 in the exclusive North Beverly Park community located in the canyon overlooking Hollywood, and enlisted the help of architect Richard Landry of The Landry Design Group to create the home of his dreams.

The family compound features an astonishing 12-bedrooms and 20-bathrooms across 30,500 square feet of living space.

In an interview with The Talk, the 51-year-old actor said he had bid the Golden State farewell in hopes of giving his children a ‘better life’ in income tax-free Nevada.

He’s already made two purchases in the Silver State, a $15.6million 2.5-acre block of land in an exclusive area that he plans to build out, as well as a $14.5million bungalow to live in as construction begins, according to Elite Agent.

The 267,335-square-foot lot is nestled behind guarded gates below Mulholland Drive, in the ultra swanky area with neighbors including Denzel Washington, Sylvester Stallone, Justin Bieber, Eddie Murphy and Samuel L. Jackson and Lisa Vanderpump, to name a few

Now, more than 12 years later, Wahlberg is saying goodbye to the family compound he built from scratch, which features an astonishing 12-bedrooms and 20-bathrooms across 30,500 square feet of living space

Inviting: A spectacular two-story entry welcomes guests into the home and features a grand foyer with a dual staircase and gorgeous wainscoting along the walls

It comes as many celebrities have been getting out of California over taxes, rising crime in major cities and the state’s notorious homeless problem. The likes of Elon Musk, Joe Rogan, Ozzy and Sharon Osbourne and Matt Damon have departed in recent years.

Los Angeles mayoral candidate Rick Caruso has made keeping Hollywood ‘in Hollywood’ a huge plank of his campaign, though he appears to have lost momentum to woke progressive Karen Bass.

Wahlberg noted that he moved to Nevada in hopes of getting a tax credit that would ease the creation of his proposed film studio.

Wahlberg’s Beverly Hills home made headlines when it first hit the market in April, even if it failed to attract the right buyer.

A spectacular two-story entry welcomes guests into the home and features a grand foyer with a dual staircase and gorgeous wainscoting along the walls.

Round arched hallways throughout the home offer a more Roman design to the contemporary living spaces, with a family room leading to an extensive library.

Blending designs: Round arched hallways throughout the home offer a more Roman design to the contemporary living spaces, with a family room leading to an extensive library

California cool: Outdoor elements are brought inside with the use of floor-to-ceiling windows

Let’s eat! Marble flooring is used throughout the front of the home until guests reach the kitchen, where dark wooden floors add an extra earthy element to the bright white designs

Goals: Double counter tops with additional cabinets provide ample prep and storage space for the most amateur to professional chefs, with built-in, top-of-the-line appliances to complement the six-burner stove

Marble flooring is used throughout the front of the home until guests reach the kitchen, where dark wooden floors add an extra earthy element to the bright white designs.

Double counter tops with additional cabinets provide ample prep and storage space for the most amateur to professional chefs, with built-in, top-of-the-line appliances to complement the six-burner stove.

A bright blue breakfast nook has wall-to-wall glass French doors, and received finishing touches with a sparkling chandelier and floral curtains.

One cozy room included a fireplace with a comfortable couch and extra wide crown molding along the ceiling.

Upstairs, the primary room was a sight to be seen as it featured a sitting area with a full couch, chair and ottoman setup next to the luxurious California King-sized four-post bed.

If the bedroom wasn’t enough, the closet was surely coveted, with room for an entire shop’s worth of clothing to be stored in custom cabinetry and multiple crystal chandeliers sparkling from the ceiling.

Another dressing room appeared to be designed specially for Marky Mark with dark wooden features and athletic shoes covering multiple walls.

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