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Celebrity Real Estate: Stars Making A Mint Off Real Estate

2011-04-15-Screenshot20110414at11.33.50PM.jpeg     First Posted: 04/15/11 06:58 PM ET   Updated: 06/15/11 06:12 AM ET

Story courtesy of ZILLOW.

By Lauren Riefflin

Reports of declining home values, price cuts and foreclosures dominate the headlines — even in the world of celebrity real estate. But, there are some celebrities who not only sold their homes in a down market, but pocketed substantial profits from the sales. Plus, we sprinkled in a few that stand to make a profit, compared to their purchase price. Take a look:

Dennis Quaid
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For sale: 14223 Evans Rd, Pacific Palisades, CA
Purchase Price: $1,830,000
Listing Price: $16,900,000
Potential Profit: $15,070,000

Actor Dennis Quaid has a lot to celebrate as he turns 57 (birthday is April 9). First, he is among acting's elite A-list, is happily married, and is also in the process of selling his massive equestrian estate for a huge profit. According to public records, Quaid purchased the 2-acre Pacific Palisades property in 1999 for a reported $1,830,000. After a series of renovations, Quaid transformed the quaint property into a luxurious equestrian retreat featuring a French country-style main house, a guest house, studio, barn, and corral. Quaid's equestrian estate hit the Pacific Palisades real estate market last month for $16.9 million - an 823.5% price increase from his purchase price back in '99.

See more photos of Dennis Quaid's equestrian estate
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