Kristin Cavallari's family home has been foreclosed on after they fell behind on the mortgage payments, according to new reports.
The “Laguna Beach” babe’s dad apparently couldn’t afford the mortgage payments and so the 7,100-square-foot oceanfront mansion was auctioned off for $6.1 million.
Papa Cavallari reportedly owed $7.5 million on the mortgage for the 5 bed, 5 bath, 3.17-acre property that also features a swimming pool, dry sauna, wine cellar, and extravagant beach views.
It's hard to believe that the Conrad's and Kristin's Dad both lost their LB homes. Sad! :(
Click here for more posts on Kristin Cavallari
credit - celebrity-gossip.net, thanks for the heads up portia! : )
~Kelli at Hills Freak
Click here for more posts on Kristin Cavallari
credit - celebrity-gossip.net, thanks for the heads up portia! : )
~Kelli at Hills Freak
Lauren's parents sold their home for around 13 million about 2 years ago. They made a huge profit since they bought the land for under 2 million back in 1997.
ReplyDelete2 million doesn't include all the millions they put into getting it built...
ReplyDeleteLauren's parents didn't lose their home.They sold it and made a profit.
ReplyDeleteI guess it was fun while it lasted huh? LC's dad did not make a huge profit.
ReplyDeleteI would guess construction costs on the Conrad house to be no more than 3 million-- probably much less.most of the value of the house was in the locaton-- a clifftop ocean view in prestigious Laguna Niguel. They probably made a nice profit in the millions when they sold.
ReplyDeleteI think the Cavallaris waited too late to sell. Their house had similar value to the Conrads but ended up selling for half as much after being foreclosed.It seems they were living beyond their means if they couldn't afford the payments.
The Conrad's house had to cost way more than 3 million to build. On Socialite Life (http://socialitelife.com/kristin-cavallaris-laguna-beach-home-foreclosed-photos-03-2012) they said the masonry work alone on the Cavallari house cost more than 2 million! Then factor in everything else, landscaping (infinity pool, palm trees being helicoptered in) payment to the workers, all the custom cabinetry, etc. etc. and that place had to have cost them a mint.
Deletetrue but it's doubtful that there wasn't still a sizeable profit since it probably didn't cost 11 million to build. Also it was a sale not a foreclosure.
ReplyDeleteJust to clarify - I didn't mean that the Conrad's lost their home due to foreclosure - more like the bad economy/decline in real estate. I know it was sold but I also know that it was their dream home that they hoped to pass down to their kids. It's a shame they didn't get to see that come to fruition.
ReplyDeleteSooo sad ! there were so many memories :-(
ReplyDelete