2012 has been a great year for the Orange County real estate market and it’s not just regular people who have been buying or selling their area homes. Celebrities in the music, sports, television and film industries all have been buying and selling their homes to take advantage of historically low interest rates for refinancing, and upgrading to bigger homes or selling their mansions to avoid the potential tax implications when the United States goes over the “fiscal cliff”.
Although his Orange County home was sold in 2008 for $35 million dollars to Las Vegas casino tycoon Jerry Herbst, the former home of Nicholas Cage was on the market again recently and sold for $24.95 million. A price cut of $10 million.
The spacious mansion has over 8,000 square feet and beautiful views of the Balboa Pavilion and Newport Bay.
Anyone who follows the career of Nicholas Cage will remember that Mr. Cage sold his home in 2007 after being woken up in the middle of the night, by a naked man, who was wearing one of his leather jackets and eating a fudgesicle.
Back in August Kristin Cavallari’s parents Laguna Beach home sold as a foreclosure for close to $7 million.
The home was on the market for just a short 28 days and sold for $625,000 over the original asking price that it’s owner, OneWest Bank wanted.
Sitting on over three acres, the craftsman style mansion includes a spa, two saunas, media room, yoga studio and over 7,000 square feet of space which makes it ideal for any growing family, especially a family who is dedicated to fine, Fung Shui living since this home has a design that has been certified as following all of the tenants of Fung Shui, a design practice and art form which takes energy and
balance into account during the process of designing a living space.
To learn more about all of the Orange County homes that were sold by celebrities in 2012, contact Fred Sed & Associates today at (949) 272-0125.