In 2012, The Miz paid $1.865 million for a Hollywood Hills home, then renovated and expanded it into a 4,532-square-foot Tuscan villa before listing it for $3.65 million and selling it for just over $3 million

Realtor.com reported that Mike “The Miz” Mizanin bought his Laurel Canyon home in the Hollywood Hills for $1,865,000 in 2012. Forbes reported that the renovated and expanded property was listed for $3.65 million in 2017, while Variety reported in 2019 that it sold for just over $3 million.The listing highlighted a basketball court, pool and spaForbes described the Hollywood Hills West property as Mediterranean-style, with four bedrooms and three and a half bathrooms. The listing, handled by Victoria Mirisch of Pinnacle Estate Properties, highlighted a basketball court, swimming pool and spa. Wrestling Online reported that the house measured 4,532 square feet and included three levels, a circular driveway, a home theater and mountain views.In Property Renovations and Their Impact on House Price Index Construction, Federal Housing Finance Agency economists Alexander N. Bogin and William M. Doerner found that failing to account for property improvements can overstate repeat-sales house price index estimates, with valuation distortions reaching 15 percent in central districts of large cities. These numbers are not national averages, and the authors admit they were unable to segregate the renovations by quality, degree, or expense.In Property Renovations and Their Impact on House Price Index Construction, Federal Housing Finance Agency economists Alexander N. Bogin and William M. Doerner found that failing to account for property improvements can overstate repeat-sales house price index estimates, with valuation distortions reaching 15 percent in central districts of large cities. These numbers are not national averages, and the authors admit they were unable to segregate the renovations by quality, degree, or expense.Overlooked renovations can overstate price growth by as much as 15 percent in central districts of large citiesThe Federal Housing Finance Agency’s working paper Property Renovations and Their Impact on House Price Index Construction, by economists Alexander N. Bogin and William M. Doerner, looked at how renovations affect repeat-sales house price indices. The paper says renovation activity can create positive quality drift in repeat-sales indices, and that omitting those improvements can push local price estimates upward by as much as 15 percent in central districts of large cities. It also finds the distortion fades outside downtown areas and is generally negligible in smaller cities with populations below 500,000. These are index-construction results and do not measure the value of Mizanin’s house. The $3.65 million asking price followed a renovation and expansion, so the paper offers background on how improvements can distort price data, not an estimate for this property.A study of 780 English sales found homes sold at about 96 percent of the listing priceIn Bargaining over Residential Real Estate: Evidence from England, Antonio Merlo and François Ortalo-Magné examined how asking prices play out. The data covered 780 properties listed and sold through four real estate agencies from June 1995 through April 1998. The properties sold at an average of around 96 percent of their listing price within 11 weeks of listing. They found that a higher listing price led to fewer viewings, higher offers, a higher sale price and a longer time on the market. The longer a property stayed listed, the lower its sale price relative to the asking price. The sample is a restricted comparison: the average starting listing price was £69,812, and the market was England in the 1990s, not Los Angeles.Variety reported that the house sold for just over $3 millionVariety reported in 2019 that Mizanin and his wife, Maryse Mizanin, owned the Laurel Canyon property from 2012 until its sale, and that the “quasi-Tuscan mini-estate” sold for just over $3 million to a non-famous married couple. Forbes had called the house Mediterranean-style, so the style label varies by source. The sale price was a little over four-fifths of the $3.65 million asking price.You use AI every day. Now get your AI Quotient. Take the AIQ test.