Yikes Mega Mansion On Auction Block

By
Real Estate Agent with TIM LORENZ - Elite Home Sales Team DRE# 00919781

Yikes Mega Mansion On Auction Block

It is sad to see that some one lost their dream.  The home that is going on the auction block is high up on a hilltop.  It is a palace that was once valued at $87 million now bankrupt Newport Coast, Pelican Hill Resort once known as Villa del Lago.

Auction will take place on April 25th at 7:00 PM.  Irvine-based Auction.com conductin the auction. 

Again it is sad to see another dream dashed do to the economy.  My prayers to all involved.

Comments (16)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Tim,

Wow, how sad to hear that!  That area is so beautiful.  It will be interesting to see what goes for!  A

Apr 15, 2012 07:00 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

It is truly sad indeed and my heart goes out to them.

Apr 15, 2012 07:04 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News
We have a historic home in our area going on the market this week too. Can't imagine what a property once valued at $87M would now sell for.
Apr 15, 2012 07:29 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Cindy

We will see very soon where the price goes.

Apr 15, 2012 11:14 AM
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is sad that someone could lose that much.  It is truly a tragic situation.

Apr 15, 2012 11:18 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes it is Mark.

Apr 15, 2012 12:10 PM
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

You are from my old home town! I use to live there and it is beautiful, or it was 30 years ago!  I miss the beach...

Apr 15, 2012 12:56 PM
Heather Tawes Nelson
Live Better in Arizona - Scottsdale, AZ
Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ

I saw an article about this home today and how it came to be on the auction block. It is amazing how much things have changed in the last decade. 

Apr 16, 2012 12:46 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Tim, this just shows you everyone is effected by the downturn!

Apr 16, 2012 05:00 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Sorry to hear that, but what I am glad to see is your sensitivity to the sale. It would be sad if these moments escaped us and we viewed them as the norm. I agree with Alexandra - #1, it will be interesting to see what it goes for at auction.
Have a good Tuesday Tim.

Apr 17, 2012 01:00 AM
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Tim

Let's jut hope for the best....perhaps the buyer, who obviously has money, can bring this back to life, whether as a rsort, or some other business facility that will bring value to your town.

Apr 19, 2012 01:31 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Evelyn

The beach is wonderful.

Apr 20, 2012 12:42 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Endre

Yes no one is immured from this one.

Apr 20, 2012 12:43 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Heather

It is a decade to remember.

Apr 20, 2012 12:44 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Thanks Debb

Apr 20, 2012 12:46 AM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Pacite

Yes the other side of the coin is bright.

Apr 20, 2012 12:48 AM