Reese Witherspoon Sells Ojai Mini-Ranch at Big Loss

SELLER: Reese Witherspoon
LOCATION: Ojai, CA
PRICE: $4,983,500
SIZE: 7 bedrooms and 9 bathrooms

YOUR MAMAS NOTES: As we first heard from real estate yenta Yolanda Yakketyyak—and then confirmed with property records—Oscar-winning and exceedingly well-compensated actress Reese Witherspoon has—at a substantial loss—sold her rustic-luxe and equine-accommodating Wallace Neff-designed mini-ranch getaway in Ojai, CA.

Miz Witherspoon purchased the property in March 2008 for $5.8 million and first put it on the open market in September 2012 for $10 million. In March 2011 she and husband, talent agent Jim Toth, hitched their love wagons on the picture perfect property and in the spring of 2013 she generously lent the seven acre semi-rural spread to British actor and tween heart throb Rob Pattinson after it was revealed his (now ex-) girlfriend, Kristen Stewart, was fooling around with a very married movie director. Remember that nonsense? Anyways...

The asking price for the compound-like property eventually plummeted to $5.9 million before an as-yet unidentified buyer swooped in and snatched up the property for..drum roll please...$4,983,5000. A few clicks and clacks on Your Mama's bejeweled abacus shows Miz Witherspoon took a mouth-drying $816,500 loss, not counting carrying costs, improvements, and real estate fees.

As far as this property gossip know, Miz Witherspoon still owns a three parcel spread in a gated enclave in the Brentwood area of Los Angeles—the last bit she bought last year for $3 million—and a nearly 6,500 square foot house in the guard-gated Sugartree development in the upscale Belle Meade area of her native Nashville, TN.

listing photos: Keller Williams

CBS 2/1.5 baths on a 6600 SF lot in Port Largo Approved short sale 230K

If you blink this will be gone! Great deal!



If you are interested in any Real Estate in the Keys please contact me, Veepka, at 305-393-0923 or VeepkaC21@gmail.com
I look forward to hearing from you!

Tidbits and Morsels: Justin Bieber

There's some new and—as far as this property gossip is concerned—unsubstantiated scuttlebutt starting to make its down the celebrity real estate gossip grapevine (via Hollyscoop) that teen aged pop music phenom Justin Bieber just might be on the move.

Mister Bieber bought his current crib, a 9,200+ square for Spanish mansion in the double-gated Oaks development in suburban Calabasas, CA, in Aprl 2012 for $6.5 million. The six bedroom and seven bathroom property had previously been owned by Nicole Murphy, Eddie's ex-wife and the long-time fiancee of Michael Strahan.

It wasn't long before Boy Wonder Bieber attracted the negative attention of his wealthy and in some cases famous neighbors who—understandably it seems to Your Mama—do not appreciate his frequent and boisterous parties or care much for him (and/or his friends) drag racing his rumbling fleet of Ferraris and Lambos through the otherwise quite streets. One altercation allegedly ended with Mister Bieber spitting in one of his neighbor's face but, naturally, young Mister Bieber's camp denies there was any spitting and prosecutors declined to press charges.

None-the-less all the skirmishing with neighbors may be getting to Mister Bieber and according to one unnamed source, his momma wants him to pack up his house in Calabasas and decamp to the Hollywood Hills where—so the source said Momma Beiber thinks—there are fewer families for her son to annoy.

It certainly wouldn't surprise Your Mama if Mister Bieber opted to spend some of his tens of millions of dollars on a sexed-up bachelor boy pad somewhere in the Hollywood Hills or the Sunset Strip area but we can pretty much promise the Bieber camp that a vast majority of residents of the Hollywood Hills and the Sunset Strip, whether part of a family or swinging single, will not care to have an entourage-toting neighbor who plays a lot of loud music and/or sometimes guns his $400,000 Italian sports cars up and down the street. Seriously, we promise y'all they will hate it every bit as much as the families in Calabasas. Just ask Chris Brown. Anyways...

aerial photo: Pacific Coast News

Tidbits and Morsels: Vincent Camuto

High end real estate watchers will recall that in July, 2013, (mid-priced) shoe tycoon Vincent Camuto and his wife and business partner, Louise, heaved and ho-d Wooldon Manor—an historic and completely rehabbed ocean front estate in Southampton, NY—on the open market with a blistering $48,000,000 asking price.

The folks at The Real Deal were the first to report, back in early October (2012), that the property had gone into contract with an unnamed buyer for an unknown amount. Now comes word via The Wall Street Journal that the buyers—still unnamed but revealed to be a couple from New York City—have arranged to purchase not only the 9,600-plus square foot English Tudor mansion and the 5.5-ish acre ocean front parcel it sits on but also a swathe of adjacent properties that ballooned the entire deal to more than 14 acres and swelled the agreed upon sales price to a sky-high and record-breaking $75,000,000.*

We won't take the time or expend the energy to recount the full history and scope of the property and the existing 7 bedroom and 12.5 bathroom mansion—we did that here, iffin yer interested—but suffice to say that a portion of the existing mansion was once the pool house for a spectacular and spectacularly huge, 50-room mansion built by a doctor turned stock broker and later owned by five-and-dime heiress Jessie Woolworth Donahue. The house was torn down by a subsequent owner in the early 1940s to reduce property tax bills.

Believe it or not, Mister and Miz Camuto own a second, equally epic if not ocean front estate in the Hamptons. In 2005 they shelled out $35,000,000 for the so-called Villa Marie, a 15-acre spread with a then-decrepit 21,000 square foot mansion that was long used as a religious and spiritual retreat and is (unappealingly) located on often jam-packed Montauk Highway at the edge of Water Mill's small downtown district. They renovated the entire estate to exacting and expensive standards and had it published for the world to ogle (and/or scoff) at in the glossy pages of Architectural Digest (July, 2013).

The Camuto's also own an also equally epic estate with an early 19th-century French Normandy chateau in über-upscale Greenwich, CT, and, although we have no specific intel, Your Mama would be shocked—shocked, we tell you—to learn they don't maintain a luxury pied-a-terre in one of Manhattan's more expensive zip codes. It also wouldn't surprise Your Mama to learn they had a place in Palm Beach and/or another in Aspen, and maybe even one someplace Alpine like France's Val d'Isere or Klosters in Switzerland. But we digress...

*According to local agents who chatted up the WSJ property gossips, a $75 million sale price would make it the highest price ever paid for a single family residence in the Hamptons.

listing photos: Sotheby's International Realty