Laguna Beach Estate, Once Repo'd By a Lender and Never Lived In, Sells for $10.1 Million by Villa Real Estate
Posted by MARILYN KALFUS of Orange County Register — August 31, 2015
An 11,000-square-foot South Laguna Beach home foreclosed at $19.2 million during the housing downturn sold this week for $10.1 million.
At the time the lender took the house back in 2010 - the year it was built - Realtor.com called it one of the priciest residential foreclosures in the country. A year later, it was back on the market at $18 million.
The home at 31401 Mar Vista Avenue went on to become the setting for the Philharmonic House of Design, a month-long fundraiser showcasing the work of nearly two dozen interior designers.
Reached by a private drive and set on a dozen acres, the house never was lived in, according to listing agent, Michael Johnson of Villa Real Estate, who gave us a tour last year. At that time, the home was offered as a standard sale at $14.4 million.
The most recent asking price: $12.8 million.
No word on who the buyers are.
Article originally published in The Orange County Register