It appears that not even the title of The President of The United States can salvage an offer in todays Southern California home market.
This exquisite example of a Spanish Revival...predominant on So Cal's Gold Coast during the 1920's and '30's...wreaks of a relaxed yet elegant setting. Imagine floating in that stunning pool sipping your favorite c-tail...in the year round average 75 degree weather...Baby...we're home!
Prices just keep tumbling, including a multi-million dollar home that was part of former President Richard Nixon’s San Clemente estate before it was parceled off.
After taking several price cuts over the years, this “Nixon spin-off estate” is now listed for $9,499,000. According to OC Register’s South Coast Homes, this home “… was first listed for $15 million Nov. 4, 2008, then it was reduced to $12.5 million April 13, 2009, and then dropped in price once more to $9.9 million July 26, 2009.”
This estate was part of Nixon’s San Clemente compound, which was called La Casa Pacifica (”The House of Peace”) — also referred to as the “Western White House.” Nixon bought the compound in 1969 and sold it in 1980 to Gavin Herbert, a pharmacist who founded the pharmaceutical giant Allergan. Herbert then divided the property into 16 lots. He kept Nixon’s house (still owns it, plus another) and sold the others.
The owner of the home featured in this post is attorney Richard Osman, who bought the 38,000-square-foot lot in 2003 for just under $2 million. He then began building in 2005. It is a Spanish Revival-style home with seven bedrooms, 10 bathrooms, a 36-seat theater, spa with custom sauna, steam room, and roman tub and rain showers. Plus. it has a library, arts & crafts room, music room, and grounds that contain an infinity edge pool with sunken bridge, spa and palm islands, a large sports court, cabanas, fire pit, and fountains.
Reportedly, the house has never been occupied.
By: Diane Tuman, Zillow Content Manager | June 24, 2010