Stephen Curry isn’t used to losing—at least, on a basketball court. But in the realm of real estate, this Golden State Warriors point guard proved that not all he touches turns to gold when he recently sold his home in Walnut Creek, CA, at a loss.
So what’s the score exactly? In November 2015, Curry and his wife, Ayesha, bought the 7,520-square-foot, five-bedroom, six-bath Mediterranean-style mansion for $3.2 million. Then the couple poured an additional half-million into renovations. A year later, they put it back on the market for $3.7 million. But apparently they’d set their sights too high, because it sat warming the bench with no takers.
Finally in July of this year, the home sold for the lowball sum of $3,195,000—more than a half-million less than what Curry was hoping for and less than what he paid for it almost two years earlier.
This defeat seems all the more resounding considering the fact that his home is situated near the San Francisco Bay Area, where prices are astronomical. Perhaps the Mercury News said it best in the headline to their recent article: “Steph Curry Did It. How Do You Lose Money in the Bay Area Real-Estate Market?”
Good question. What did Curry do wrong?
A lot, actually. Here’s a rundown of his mistakes.