America’s Biggest Home Foreclosure!

America’s Biggest Home Foreclosure!

America's Biggest Home Foreclosure!
Brand new and in sought after Laguna Beach, one can now own this 11.77 acre, 11,333sf beauty at a foreclosure price! Just before its completion, it was in escrow for $28m in a deal that fell through. Today it is being offered at $18m! Designed with ultimate privacy in mind, the acreage consists of terraces of outdoor living space from which the expansive views of the Pacific and Catalina Island are no less than stunning. Rooms are huge with Craftsman windows and French doors opening to lovely landscaping, infinity-edge pool, spa and entertaining areas. This fine example of contemporary architecture also features 4 bedroom suites, six full baths and one half-bath, an in-home theater, 20-car garage and . . . a private FAA approved heliport! In addition to the house's own amenities, the Aliso Creek Golf Course is only a few blocks away.

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Another bankruptcy reportedly caused by "an ongoing stalemate with uncooperative lenders" by So Cal luxury real estate agent, John McMonigle, has forced this home into foreclosure, now being said to be the largest in the U.S. Though it's terrible to watch the current market claim yet another victim, at the same time makes it possible for others who have maintained their financial stability to reap the rewards of obtaining valuable real estate at more realistic prices.

The Villa Mar Vista Estate is a rarity in that finding so much acreage in Laguna Beach is almost impossible today. Though a half mile from the ocean's edge, the unobstructed vistas make you feel as though you were at the helm of a ship. Since the window over the kitchen sink also commands a spectacular ocean view, we imagine the cook of the house will be looking for excuses to spend more time in that room. That could work to everyone's advantage!

Laguna Beach home $18m. So much luxury at an outstanding price!

Source: www.socalmls.com