Reality TV Real Estate 2011

You might enjoy watching reality TV, but I'm sure you'd love living in reality TV real estate. And there's a lot of it on and off the market these days.

"The Osbournes"

Remember The Osbournes and the extravagant Beverly Hills mansion their numerous dogs destroyed in front of millions of viewers?

Reality TV's most entertaining family has been off the air for 6 years, but the vast estate they once called home is currently listed for sale.

The current owner, recently divorced Christina Aguilera, listed the enormous property for $13.5 million earlier this year. The diva might have to settle for a bit less considering the average Beverly Hills home value is currently hovering around $1.9 million and has been falling year over year.

The former Osbourne home features a master suite with a raised-bed platform, red chandeliers and curving staircase. With reality TV-worthy amenities like these, it won't matter how many dogs are on the loose once the new owners move in.

The Osbournes aren't the only reality TV celebrities with homes on the market; check out the list of celebrity homes that are currently for sale or have recently sold according to Zillow.

"The Hills"

Lauren Conrad, or LC as she was known on Laguna Beach, has placed her Hollywood Spanish-style estate on the market for $2.25 million. She purchased the house in 2008 for $2.36 million while filming the hit MTV reality series "The Hills."
Although the show has been over for a while, the detached guesthouse (where Audrina Patridge lived), refinished hardwood floors, wrought-iron railings and Spanish floor tiles make this space a great setting for any Hollywood gathering.

Where would an American Idol live?

"American Idol"

From terrible auditions to amazing contestants, "American Idol" has provided millions of viewers with memorable moments over the course of 9 seasons.

If you've been watching the reality TV show from its inception, you might recall the paranormal activity which plagued the American Idol house: Cast members witnessed strange flickering lights, a spider invasion and even a sheet floating down an empty hallway. Needless to say, the house was eventually abandoned and placed on the Beverly Glen real estate market for $12 million.

Those rumored hauntings didn't stop a buyer from purchasing the spooky estate for $11.2 million. Who says haunted mansions are a thing of the past? (Hey, it's almost Halloween! Check out these Hollywood Haunted Houses.)

What's good for the Donald ...

"The Apprentice"

"You're fired."

Contestants from "The Apprentice" dread those two little words as they compete for a shot to work for Donald Trump. If you want a taste of reality TV life without having to get fired by Trump you can rent the gated estate Season 6 contestants called home.

For $49,000 a month you get 9,000 square feet of living space, 9 bedrooms, 10 bathrooms, 4 bars and 3 reception rooms. That's plenty of space for hosting swanky work parties Trump himself would be envious of.
But it's a far cry to the Jersey Shore...

"Jersey Shore"

Ever wondered what it would be like to spend a summer at the "Jersey Shore" house? If you want to get in some serious GTL, the beachfront Seaside Heights residence can be yours for $2,500 a night.

You and up to 12 of your friends can party where Snooki, Pauli, Vinny and The Situation fist-pumped their way into the hearts of MTV viewers. Feel free to let loose: residents can relax in the Jersey Shore hot tub without cameras everywhere.

But if you think blondes have more fun ...

"The Anna Nicole Show"

Anna Nicole Smith endured her fair share of controversy before passing away in 2007. On her short-lived reality TV show, "The Anna Nicole Show," viewers were subjected to her health problems and expensive financial battle with the stepson of her late husband, J. Howard Marshall.

Even in death, the controversies have persisted for Smith. Her former domestic partner and executor of her will, Howard K. Stern, gained the court's permission back in March 2011 to transfer the ex-playmate's home into his name. The house had been inherited by Anna Nicole's daughter, Dannielynn, and her natural father Larry Birkhead.

Stern recently placed Anna Nicole Smith's on the Studio City real estate market. It features 4,700 square feet of living space, 5 bedrooms and 5 bathrooms â€" plenty of space for any aspiring actor or actress. Buyers who don't mind a little controversy can make this home theirs for a cool $1.75 million.

What if Growing Up Gotti suits your fancy?

"Growing Up Gotti"

Audiences got an in-depth look at how Mafia families live when "Growing Up Gotti" first aired on A&E back in 2004. The show was cancelled due to declining ratings, due in large part to the family's ill-gotten luxuries which were funded by the crimes of the late mafia don, John Gotti. Victoria Gotti cut a deal on the on the white-pillared piece of Old Westbury real estate with the bank when it faced foreclosure, but the 5-bedroom, 4.5-bath house featured on the show is now on the market for $2,895,000.

Hopefully the Gotti's connections will get them their asking price: median Old Westbury home values are currently $1,535,400, well below the mafia family's desired price.

Getting married this year? Here's a house for all you newlyweds to consider.

"The Newlyweds"

Jessica Simpson and Nick Lachey couldn't make love work after their reality TV show, "The Newlyweds," ended in 2005.

After they separated, their love nest landed on the Calabasas real estate market for $3.4 million. "Malcolm in the Middle" star Justin Tyler Berfield eventually snatched it up, but then sold the house in 2010 for $2.1 million.

Perhaps the new buyers will have better luck in love, amidst a modern architecture background and over 6,000 square feet of living space.

And if that isn't enough space to spread out, consider this next property.

"Hogan Knows Best"

Terrance Gene "Terry" Bollea, better known by his ring name, "Hulk Hogan," always knew what was best for his family on the hit VH1 reality show "Hogan Knows Best." Even so, Hogan could have used some help when he listed his Bel Air mansion for a whopping $25 million back in 2006.

Despite being featured in the reality TV series, the home was quickly taken off the market due to a lack of interested buyers. After some time and significant price cuts, the home went back on the market at $13.9 million in 2009.

Even the $11 million dollar price drop, 17,000 square feet of living space, 5 bedrooms, 9.5 bathrooms and hand-carved countertops and floors were not enough to entice buyers - the asking price had to be slashed several more times to its current rate of just over $8.8 million.

This is a trend that might continue since Bel Air home values have dropped 15.6 percent since last year. If you wait long enough, this custom estate could be yours at a rock-bottom price.

Of course, if you get it cheap enough, you might just consider flipping it for a profit.

"Flipping Out"

Jeff Lewis is best known as the neurotic house flipper of the popular Bravo tv show "Flipping Out." Aptly named for both the nature of Lewis' business and his tendency towards hysterics, the show focused on the luxurious remodeling and selling of high end homes. T

hat was in 2007, when "flipping" was the trend and homes were flying off the market. In today's post-bubble housing market, the emphasis is now on interior decorating instead of renovating homes for a quick sale. Lewis' former Hollywood Hills home, known simply as "Valley Oak Two," sold last October for over $2.3 million. That's quite a price drop from when Lewis originally sold it â€" he put it on the market in 2008 for just under $3.2 million.

Which one of these homes would you splurge on?
More on MoneyWatch:

Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.comand The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.

Ilyce Glink

Ilyce R. Glink is an award-winning, nationally-syndicated columnist, best-selling book author and founder of Best Money Moves, an employee benefit program that helps reduce financial stress. She also owns ThinkGlink.com, where readers can find real estate and personal finance resources.

Twitter