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$10 million discount offered for Balboa home

June 25th, 2009, 12:01 am · 11 Comments · posted by Jeff Collins

Photo courtesy of the McMonigle Group

Photo courtesy of the McMonigle Group

The price has dropped again for 1510 E. Oceanfront, located on the ocean side of the Balboa Peninsula.

The price now stands at $19.5 million — $10 million below the original asking amount.

Even if it sells at this new price, it still will be the priciest home on the peninsula, according to listing agent John McMonigle. The highest prices on Balboa Peninsula to date were sales for $15.5 million and for $15.7 million.

According to Redfin, the home first went on the market for $29.5 million last July. The price was cut to $24.5 million in January, and reduced to its current $19.5 million on June 8.

For details and photos of 1510 E. Oceanfront CLICK HERE!
For a map of O.C.’s priciest homes, CLICK HERE!

Related news …

Posted in: Luxury homes • Top tale • •
 
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 11 Comments

  • Will says:
    June 25, 2009 at 6 am

    They are also selling a six-pack of Diet Coke, listed for $15.99, now discounted by $10 to $5.99! Act fast!

  • Melissa says:
    June 25, 2009 at 7 am

    There are a lot of great homes for sale in the Laguna area for much more reasonable prices.
    http://www.neighborcity.com/CA/Laguna-Beach_For-Sale/real-estate/

    • pdu says:
      June 25, 2009 at 2 pm

      There are some good deals in San Diego and up near San Francisco too……..which has nothing to do with this house on the penninsula, either.

  • BOGEY says:
    June 25, 2009 at 7 am

    What??? A ’super agent’ can’t sell a 29mm home?

    Seems the ‘order-taker’ days for RE agents in OC are over.

  • jennychangf8 says:
    June 25, 2009 at 7 am

    bottom! uh…ha! I called it. Where is Gunner? lol

  • lee in irvine says:
    June 25, 2009 at 7 am

    LOL!

    8)

  • Bill says:
    June 25, 2009 at 12 pm

    Hey National Bubble–
    Please enlighten the rest of us with your explanation as to why this house is worth $9 million! I would love to hear your expert opinion!

  • Shannon says:
    June 25, 2009 at 12 pm

    Plus you get the Newport-Inglewood Fault line right underneath your house. YeeHaw!

  • Troy says:
    June 25, 2009 at 12 pm

    Not that I could ever afford a 10+ Million dollar home, but this thing looks clownish and ridiculous in the pictures. That huge art piece on the wall is way too personalized and polarizing, and what’s with the slithering pool right down the courtyard? The bar stools a few inches from the edge of the pool are a risky proposition..

    My grandmother and great aunt lived on Balboa 60 years ago, and my Mom went to elementary school there for a few years in the 50’s. But what it’s become is just a sleazy sham. These pie-in-the-sky prices were total fiction, and now that they are actually trying to sell this shlock those prices will come crashing back to earth.

    It should be fun to watch, at least. Just don’t sit in the barstool near the edge of the pool!

  • anonymous says:
    June 27, 2009 at 9 am

    This article is the poster child for overvalued real estate in OC. List it for $100.0m, settle for $50.0m. lol