California real estate -- A lousy housing market has celebs settling for below-asking prices

By Frank Spotnitz
Updated March 19, 1993 at 05:00 AM EST

The California real estate market is in worse shape than Bruce Willis’ movie career. ”I hate the word lousy,” says John Aaroe, a Beverly Hills realtor whose clients have included Cher and Joan Rivers, ”but it’s been disappointing.” A number of celebs have had to settle far below their asking prices, while others have been unable to sell at all.