So Lauren went home to pack her room last night in Laguna on the Hills. She said during the episode she was sad and that her parents had planned to keep that house forever.(If I remember on Laguna she said the house was going to be left to her also). Her parents gave the reason that it was too much house for just them and their son Brandon.
Here's my guess, they built the house at the market peak. I bet they had a very healthy home equity line originally and I also bet they thought the house would continue to appreciate in value. Two things happened, I bet the price of that house fell 25% to 50% in value and I also bet their home equity line which was probably huge was cut to next to nothing by their bank.
I am not saying they are broke but I bet they are hurting.
10 comments:
They might have, but I don't think that was the reason. They put their house on the market last spring/early summer I believe. I'm sure they didn't sell it at the price they listed it at, which was a lot! But it's a huge beautiful home. So who knows, their exact reasons. Anybody know where Breanna went to college?
I think the economy and the housing bust forced the sale, did they ever even sell it? I wonder if they had to do a short sale on it.
The house was worth 5 million dollars when he built it. James was asking for 17 million, but sold it for 13 million. He made 8 mil in profit, not bad.
Breanna goes to school in UTAH.
Are you sure 10:22? How do you know?
Okay, not everyone who put thier house on sell has financial problems. As Lauren's dad had said, it truly does not make sense of him stil living in that big house with his wife, when his kids are all grown up ,and all moving out, and so the next move is to buy a more smaller place that they could be able to maintain and keep neat.
From what I have heard too many people knew whose house that was because of Laguna and the family had no privacy there
Still for sale according to zillow
http://www.zillow.com/homedetails/96-Vista-Del-Sol-Laguna-Beach-CA-92651/59727213_zpid
The economy is hitting everyone hard including rich people but noone knows for sure why they decided to sell the house. It sure is a beautiful house.
I agree - they bought that house knowing that Lauren would be moving out that year, and knowing Breanna would be moving out in 2 years......
When you buy a HUGE house like that - thats the point, for it to be a lot of house.
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