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Hot Property: Tom Hanks' big buy

Actor-producer-director Tom Hanks has purchased the contemporary Pacific Palisades home of veteran producers Kathleen Kennedy and Frank Marshall.

The sale price was listed at slightly more than $26 million at Blockshopper.com, a news and market data service. Property records show that the 14,513-square-foot house, built in 1996, has four bedrooms and five bathrooms. Hanks did not respond to requests for comment, but the transaction was confirmed by area real estate agents. The home was not on the market.

The purchase ranks as the most expensive for Los Angeles-area homes so far this year.  As for Hanks' Pacific Palisades neighborhood, there were 201 sales of single-family homes in 2009 at a median price of $1,950,000, according to MDA DataQuick. That was a 15.5% drop from the 2008 medium.

Here's a look at how prices have been trending in Pacific Palisades, compared with Brentwood and Bel-Air, from Zillow.com:

Zillow Home Value Index

--Lauren Beale

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Graphic: Courtesy of Zillow.com

 
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