Casey Abby Blog's: Why Haven’t Jay Cutler and Kristin Cavallari Been Able to Sell Their Nashville Mansion?

Monday 3 February 2020

Why Haven’t Jay Cutler and Kristin Cavallari Been Able to Sell Their Nashville Mansion?

Former NFL quarterback Jay Cutler and his wife, the reality TV star Kristin Cavallari, doubtless lead charmed lives. But they’ve had at least one setback in their Nashville adventures—selling the grand mansion they bought eight years ago.

The Mediterranean-style villa—which the couple purchased in 2012 for $5.3 million—served as the beautiful backdrop for the first season of the reality show “Very Cavallari.”

But the duo moved on to another home in the area, and placed their property on the market in 2018 for $7.9 million.

The combination of a celebrity pedigree, a beautiful locale, and a designer interior seemed like a winning package. Alas, the home sat on the market. And sat some more.

The couple agreed to a price chop to $5.75 million last year. In 2020, they relisted the mansion for $4.95 million, which means that the celeb couple will be eventually be tackled for a loss.

So, why hasn’t a buyer stepped up with an offer for this fancy Nashville estate? We spoke with the agent representing the home and came away with three main factors standing in the way of a quick sale…

The home Kristin Cavallari and Jay Cutler have put on the market
realtor.com

1. The home is big. Really big.

Let’s take a quick tour of the offering. For the price, the property includes an almost 20,000-square-foot main house, with seven bedrooms and seven full bathrooms, plus three half-baths, all sitting on 8.5 acres. Great, right? Not necessarily.

“Everybody likes the land,” says listing agent Tim Thompson. “It’s just the size of the house. Around here, if you start getting above 8,000 to 10,000 square feet, that’s plenty for most people.”

The home’s daunting size means that upkeep is a chore, and simply furnishing the massive space can seem overwhelming.

One reason the house is so massive? The couple expanded the square footage after they bought it, finishing the basement, and adding to its sprawling size.

In fact, the space may have proven too much for Cavallari and Cutler, who have reportedly purchased a smaller, 10,000-square-foot home with a barn and stables.

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2. Splashdown? There’s no pool

While there are plenty of amenities inside the house, the outdoor space lacks one obvious feature: a pool.

And as far as comps go, buyers spending dough on a luxe mansion expect some sort of splashy feature out back.

“You start getting into this size home and price range, you’re going to have pools and hot tubs,” says Thompson. “But this house has mostly indoor stuff, and it does not have a pool.”

For reasons only known to the owners, they removed the pool when they moved in. If you scope out the outdoor area, there’s an obvious place where the pool was probably filled in. For a buyer who falls in love with the home, the pool might be the first addition made.

Although the couple took out the pool, they left the poolhouse and outdoor living space. But for the money, if a buyer can easily find a comparably priced home with a pool, that puts this home at a disadvantage.

Given the price cuts on the home, it might have been worth it for Cutler and Cavallari to put the pool back in before departing.

For further proof, here’s an example of a 10,000-square foot home in Nashville with a pool for $6.75 million, with 5 acres. Or a five-bedroom, 10,350-square-foot abode with only 1.41 acres, also with a pool, for $4.95 million.

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3. The price wasn’t right

Owners initially want to go as high as they possibly can on price, to recoup the money on a sizable investment. No one wants to leave money on the table. And in this case, the couple added more square footage and more amenities.

However, Thompson cautions that this thinking can deter sellers. He noted that since the price dropped to its current ask, activity has been strong, with serious interest and showings. The price you want just simply may not be what buyers are willing to pay.

“Find out what things really sold for,” Thompson says. “Every house is different, and you have to price accordingly. We are getting strong results now, since we dropped the price.”

In other words, as the listing description notes, with the price adjustment below $5 million, this is a “superb value.”

On the plus side

Meanwhile, there are plenty of positives about this 25-room property. The indoor amenities are bonkers.

From the gloriously huge kitchen with two islands, to the screening room, library, family room, gym, and rec room with bar, “It’s a great entertaining house, “ Thompson says. “It’s got a huge area for a butler’s kitchen,” perfect for effortlessly catering dinner parties or hosting events.

Then, the location is a high point.

“The views of Nashville are awesome from the house,” Thompson says. He adds, in his final pitch for the next owner, “It’s a gorgeous place. They’re going to get a good house with very good proximity to Nashville, and from the third floor, gorgeous views.”