Since Nicolas Cage got into wrangles with the U.S. tax authorities, life has been pretty painful realising some of those paper losses. His Las Vegas property apparently sold on the first day. For its asking price. From the official press release:

Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas sold Actor Nicolas Cage’s foreclosed, now bank-owned Las Vegas home the first day it was on the market.  Cage’s 14,306-square foot luxury property located at 5100 Spanish Heights Drive in Las Vegas is now in escrow and is expected to close on Wednesday.

Cage’s former luxury home boasts a 16 car subterranean garage, an elevator, theatre room, six bedrooms, seven and a half bathrooms and a full and magnificent view of the Las Vegas Strip.  Cage bought the home in September, 2006 for $8,500,000.  Since the recession has reduced luxury home prices up to 50 percent off, Lowman sold Cage’s former home for close to the asking price of $4,950,000.

Leaving Las Vegas indeed (wince again).