ELLE's Women In Hollywood Celebration - Arrivals
LOS ANGELES, CALIFORNIA - DECEMBER 05: (L-R) Ben Affleck and Jennifer Lopez attend ELLE's Women In Hollywood Celebration at Nya Studios on December 05, 2023 in Los Angeles, California. https://www.gettyimages.com/detail/news-photo/ben-affleck-and-jennifer-lopez-attend-elles-women-in-n/Photo by Kevin Winter/Getty Images

Jennifer Lopez and Ben Affleck are facing significant challenges in selling their shared Beverly Hills estate, with sources revealing that the couple is struggling to find a buyer for the lavish property.

Per TMZ, the "Gone Girl" actor is actually ready to sell the mansion, but the singer will have none of it. The pair is said to be at odds; however, Affleck wants to lower the listing price, but Lopez is reportedly refusing to lower the price at all.

Since being put on the market in July 2024, the estate is expected to draw little interest for its $68 million asking price. Real estate agents who are familiar with the listing chastised the price that was sought, some calling it a complete 15% over this property's market valuation. The agents also argued that Affleck and Lopez paid too much for the mansion, noting that they shelled out $60.85 million in cash for the property in May 2023.

According to real estate professionals, the Los Angeles luxury market appears to have cooled, which has made it challenging to sell high-end residences at the requested prices. Their potential buyers have supposedly been looking for bargain basement pricing, and the $68 million asking price does not accommodate this new possible market.

On top of all that, after the wildfires in January that devastated the rest of the greater Los Angeles area, insurance premiums are climbing. The mansion's insurance will allegedly cost the future owner half a million dollars per year, which is putting off prospective buyers.

The Stalemate Over the Home Sale

Terms of the deal regarding the stars' Beverly Hills estate in their divorce settlement earlier this year are sealed. The terms are not clear, but the former couple's permanent state of indecision over the sale of the house implies that emotions relating to the future steps must still be high.

Sources close to the situation say that the two are still struggling to reach an agreement, leaving the future of the mansion up in the air. Despite the lack of movement, there's no indication that they are at odds over the sale itself; instead, it seems to be a matter of negotiating the right price and terms.

For now, the estate is still on the market for the original listing price as the two work out the details of their post-divorce.

Originally published on Music Times