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Lansner on Real Estate ~ The latest news about the housing market from Orange County Register columnist Jon Lansner.

Archive for the 'Real Housewives of Orange County' Tag

‘O.C. Housewives’ Ladera short sale in escrow

November 10th, 2009, 10:00 am by Jon Lansner
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Who says short sales — or homes in Ladera Ranch — can’t sell?

The Ladera family home of Tamra Barney, one of cable TV’s “Real Housewives of Orange County,” is in escrow. It had been listed as a “short sale” for $1.149 million. (Late last year, the 4,300-square-foot, 5-bedroom, 5.5-bathroom home — Click on the pictures at left for a larger view! — was listed at $1.6 million.)

Marcos Prolo, the agent Berrington Properties who is selling the home, confirmed the escrow status and said he got 6 offers for the home before settling on one to go to contract with. While he wouldn’t give pricing details, he did say the agreed-upon price was “in excess” of the asking price and the buyer is a current Ladera resident.

“For some reason,” Prolo says of the sales process. “It was not that big of a deal.”

Ladera Ranch, a new community built out at the peak of the market, is a hard-hit housing market. Prolo, a Ladera resident and seller of property there for 6 years says: “It’s probably the worst hit in the South County area.”

Photo by Register's Jebb Harris

Barney (By Jebb Harris)

As a “short sale,” the Barney home sale requires the bank to take less than the amount borrowed against the home for the sale to be completed. Prolo hoped that approval would come soon.

Barney told Register’s Mark Eades earlier this year that this sales was a “business decision” after the couple lost $600,000 on the house. Public records show the home being bought for $1.3 million in 2005. She was unavailable for comment this week.

Details of the home, from the listing …

Highly Upgraded Tuscan Home! One of the most desirable locations within the gated community of Covenant Hills. 5 bedrooms all with full bathrooms, Office with built-in bookcase, Loft, Master Bedroom retreat, Hardwood floors with custom stone inlay. Large gourmet kitchen opens to family room and is complete with granite counters, upgraded appliances, island and breakfast nook. The yard is an entertainer’s dream with a saltwater pool, spa with waterfall, built-in and covered grill with prep area, bar, fireplace, firepit and incredible landscaping! You will love the details, including crown molding and rustic wood beams! This is a MUST SEE!

Barney’s not the only “Housewife” with real estate issues. Ponder Jeana Keough … who saved her Coto home from foreclosure after it fell into default!

Note: O.C. short sales up 63% this year. CLICK for more!

Other local real estate troubles …

Posted in: Celebrity homes • Distressed properties • Luxury homes • • • | 52 Comments »

‘Housewives’ Ladera home on market as short sale

July 27th, 2009, 9:16 am by Jon Lansner

The family home of Tamra Barney, one personality on cable TV’s “Real Housewives of Orange County,” has been relisted for sale with an asking price of $1.149 million for the Ladera Ranch house. Late last year, the 4,300-square-foot, 5-bedroom, 5.5-bathroom home (Click on the pictures above for a larger view!) was listed at $1.6 million.

Photo by Register's Jebb Harris

Barney (By Jebb Harris)

The Barney home is now being offer as a “short sale” — meaning the bank must agree to take less than the amount borrowed against the home for the sale to be completed. Barney tells the Register’s Mark Eades that this was a “business decision” after the couple lost $600,000 on the house. She says she’s back working real estate, this time with Berrington Properties that has listed her home. Public records show the home being bought for $1.3 million in 2005.

Details of the home, from the listing …

Highly Upgraded Tuscan Home! One of the most desirable locations within the gated community of Covenant Hills. 5 bedrooms all with full bathrooms, Office with built-in bookcase, Loft, Master Bedroom retreat, Hardwood floors with custom stone inlay. Large gourmet kitchen opens to family room and is complete with granite counters, upgraded appliances, island and breakfast nook. The yard is an entertainer’s dream with a saltwater pool, spa with waterfall, built-in and covered grill with prep area, bar, fireplace, firepit and incredible landscaping! You will love the details, including crown molding and rustic wood beams! This is a MUST SEE!

Previously, when the home was listed late last year, Barney said that she and her husband, Simon, were trying to be opportunistic about the weak housing conditions. They hoped to sell their home and then pounce on one of bargains created by economic turmoil. She said: “We’ve been wanting to sell, but watching prices going down … So we’ve decided we’ll bite the bullet.” In February, Barney took the home off the market, saying: “We gave it a few months and didn’t get offered what we wanted.”

Barney’s not the only “Housewife” with real estate issues. Ponder Jeana Keough  …

Other local real estate troubles …

Posted in: Celebrity homes • Distressed properties • Top tale • • • | 143 Comments »

‘Housewives’ Coto home listed for $5.5 million

July 9th, 2009, 12:35 pm by Jon Lansner
'Housewives' kitchen 'Housewives' pool 'Housewives' fireplace

Now that the Coto de Caza home of recently retired “Real Housewives of Orange County” cast member Jeana Keough has escaped foreclosure, it’s up on the market!

'Housewives' frontFor just $5.5 million you get 7 bedrooms and 9 baths, plus — as the listing (HERE) says:

French Country custom estate, with guest house. Panoramic views of Saddleback Mtn, Coto Clubhouse and all of Coto. 6 car finished garages, gated court yard parking, easily handels boat and recreational storage. The home has high ceilings with custom woodwork, stone wall in large family room 25 x25 with built in bar and open to backyard entertainment center. Large 2 person office with views of peacefull hillside. Single loaded cul de sac with 3 homes. Circular stamped concrete driveway, set back garages. Large Master bedroom suite with retreat, and balcony. His and her bathroom has walk in closets. All secoundary bedrooms are at least 16 x 16 suites. Secound master has walk in closet, fireplace. Gourmet kitchen has large granite island, sub zero extra large refrig and freezer, large yard, sport court(1/2 court basketball)and built in fireplace and firepit, BBQ center, covered patio’s. Mature landscape.

If you recall, we reported last month that Keough says she received a loan modification, saving her home from potential foreclosure. We had earlier noted that Keough received a notice of default on the mortgage on her Coto home. (Also last month, Keough said she’d unlikely return for a fifth season on the Bravo TV show.)

Keough told The Register’s Mark Eades of the listing: “Who knows if it will go for that price. I’m always testing the market. If someone makes me a good offer, for $5.5 million, I’d sell it.” (You can click on these photos for larger images!)

And, by the way … for what Zillow’s math is worth, it places a $1.56 million value on the home. And Eppraisal? $1.96 million.

Oh, yeah, before we forget: Another ‘Housewives’ personality, Tamra Barney, took her house in Ladera Ranch off the market in February.

Other luxury home news …

Posted in: Celebrity homes • Luxury homes • Top tale • • • | 111 Comments »

Real Housewife saves Coto home from foreclosure

June 11th, 2009, 3:09 pm by Mark Eades
Keough home

Keough home

Former Real Housewives of Orange County cast member Jeana Keough says she’s now received a loan modification, saving her Coto de Caza home from potential foreclosure. We had earlier reported that Keough had received a notice of default on the mortgage on her Coto home.

Keough sent us a letter thanking ocregister.com reporter Mark Eades for letting her know about the loan default and that she had received a loan modification. Here’s the note (We added a few background words in parenthesis for context!) …

Mark, thank you for making me aware of a NOD (notice of default) filed on my house, I have successfully completed a loan modification with Zachary Scoggins and Art Moore! Thanks guys! Washington Mutual/Chase are committed to keeping families in there homes. Thanks President Obama and HUD’s Jason Coughenour.

I have struggled for months with loan mods (modifications) for all my clients and myself. So many of my friends, Realtors, Actors, Mortgage brokers, writers and Directors and Producers and agents are struggling in this economy. Hopefully things will turn around, it is times like these when people’s true character’s come out. I am proud of all my friends who have struggled and kept positive in these uncertain times.

Photo by Mark Eades

Photo by Mark Eades

And my dear friends who have helped me Bridget Godardt of Pure Indulgence med spa and facials, Ken Pavis, and Kym Wyman for always keeping my hair looking good, Sabrina from Glitter Girl and Sky tops from Robertson Blvd, Liza from La Diva for always making me look good. And of course my fellow OC’ housewives Gretchen and Slade, Tamara and Simon and Lynn and Frank, Quinn and Tammy Knickerbocker for all your moral support.

My favorite restaurants, who have suffered because I am not eating there 7 nights a week. Hanna’s, Infusion and Tutto Fresco! Thanks for your support and letters, leaving TRHOC (The Real Housewives of Orange County) is hard but I am confident I will be successful in what ever adventure is next.

I have a life coach, Tom Ferry, whose help through all this has been a god send. A literary agent Dan Conaway from Writer’s House, and a co-writer Laura Morton (she has written 36 celebrity books.) Kara (daughter) has transferred to UCLA and is taking summer school, doing an internship and writing a book about Reality TV’s effect on her life.

Colton (son) has been asked to try out for the Area Code Games, a very big deal for him, (baseball-related) and is getting great grades in school. Shane (son) is getting better every week at his Stockton Ports (minor league) baseball club and is settling in nicely to life on the road.

Thanks for all your letters of concerns and offers of financial aid, I am really touched. I probably will sell the house — 8,500 feet with a guest house on a 1.2 acre lot with 6 garages is more than Colton and I need. My $6.5 million house is now worth $5 million, but the next house I buy will be cheaper, too.

– Jeana Keough

page-teaser-vertOther real estate news …

Posted in: Celebrity homes • Distressed properties • Top tale • • • | 144 Comments »

‘Real Housewives’ Coto home in default

June 9th, 2009, 2:03 pm by Mark Eades
keough-jeana

Photo by Jebb Harris

Jeana Keough of the ‘Real Housewives of Orange County’ TV show confirms that creditors have filed notices of default on her Coto de Caza home.

According to ForeclosureRadar.com …

  • Lender Washington Mutual — now Chase — last month filed a notice of default for a $1.3 million mortgage made in 2003. Unpaid was $37,538.
  • The Coto homeowner’s association filed a similar motion in April, claiming its owed $3,732.

Jeana told The Register that she recently got some paperwork from lenders and “I’m trying to doing a loan modification.”

She admits that she controls four homes — the other three are rental properties — and all are in trouble. “I think all four of my houses have notices of defaults on them, as I’m trying to get loan modifications on them. To get a loan modification you have to stop making payments to qualify. I have renters in the other three now. I don’t know if I’m going to sell it, or what I’m going to do.”

Jeana, who when she isn’t acting is in real estate sales, added: “The realty business is so bad. You’ve got to come up with $10,000 a month. It’s a tough market, everybody’s struggling. My kids don’t really need this news right now.”

What’s the home worth?

  • A Zillow Zestimate of the home’s value pegs it at $1.382 million.
  • The county tax collector puts assessed value for the current tax year at $1,537,549 with a $17,286 tax levy for 2008-09.
Keough home

Keough home

Keough, who for four years has appeared in every episode of the popular Bravo reality TV series, said recently she didn’t think she would be returning to the show.

As for other ‘Housewives’ real estate, co-star Tamra Barney took her house in Ladera Ranch off the market in February.

Extra ‘Housewives” news …

Posted in: Celebrity homes • Distressed properties • Top tale • • • • | 229 Comments »

‘Housewives of O.C.’ star’s Ladera home up for sale

November 9th, 2008, 11:33 am by Jon Lansner

Tamra Barney, one of the stars of cable TV’s “Real Housewives of Orange County,” has listed her home in Ladera Ranch for $1.6 million.

Barney told me that she and her husband, Simon, are trying to be opportunistic about the weak housing conditions. They hope to sell the 4,300-square-foot, 5-bedroom, 5.5-bathroom home and then pounce on one of the many bargains created by economic turmoil. (Click on the pictures above for a larger view!)

Photo by Register's Jebb Harris

Photo by Jebb Harris

“We’ve been wanting to sell, but watching prices going down … So we’ve decided we’ll bite the bullet.”

Tamra says the couple “isn’t upside down, like a lot of people” with their housing financing –  public records say the home was bought in 2005 for $1.3 million. And “if it sells, it sells. If it doesn’t, that fine, too.”

If the couple can sell the home, Tamra says, she’d like a new place that offers the family some additional privacy. The couple is raising four kids and Tamra says their current neighborhood offers little in the way of security against folks wanting to occasionally gaze at a celebrity’s home. And this Ladera home, located on a small cul de sac, often appears in the show.

“We’d (like to) pick up a foreclosure, or a vacant lot — where ever. We know we can get a hell of a deal,” Tamra says.

Part of last season’s story line on the Housewives reality show included discussion about Tamra’s work in real estate. She says that won’t happen in the upcoming season — which starts later this month on Bravo — because (1) she was unhappy about how her business acumen was portrayed; and (2) she’s taking a break from real estate as the market stays chilled. (Tamra is listed as the agent for her home.)

“It was easy money,” she says of real estate a few years back. “Right now, it wouldn’t be worth what I’d pay a babysitter.”

“I haven’t given up, it’s just that I don’t have to pound the pavement, so I won’t.”

Other celebrity Orange County home sales:

Other Orange County business news:

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Posted in: Local-Local • Top tale • • • | 130 Comments »