LOCATION: Victoria Point Road, Malibu, CA
SIZE: SIZE: 3,424 square feet, 5 bedrooms, 4 bathrooms
DESCRIPTION: Lender owned foreclosure! Reduced over $2,000,000 from last listed price due to recent foreclosure sale. Great beach front location on private cove in prestigious Broad Beach area. End of cul-de-sac location on private, gated street. Large 5 bedroom Cape Cod style home with lots of charm, hardwood floors, vaulted beamed ceilings, sunroom and deck. unbelievable ocean views from this private, scenic cove. Enjoy the Malibu lifestyle!
Let's go back to the middle of May when Your Mama discussed the ocean front house in Malee-boo that actor Micahel Madsen was trying to sell lickety split before his bank started foreclosure proceedings. Madsen's kinda shabby house was one the market for $9,950,000 and he was looking to have someone take the house off his sad little hands almost immediately, before the bank foreclosed on the house.
We're sorry to say that there was no quick sale at a high price, the bank foreclosed, and the house is back on the market for a $7,800,000, a substantial price reduction, and probably a more realistic price.
Your Mama has no idea why Mister Madsen, who is the brother of Oscar nominated actress Virginia Madsen, did not have the money to make his mortgage, particularly when his IMDB resume is littered with recent projects that surely brought in a substantial amount of dough. Sad.
As you may recall, this house once belonged to Ted Danson, before he moved up in the world of Malee-boo real estate and purchased a home in The Colony in the year 2000. The couple have recently placed the house on the market, again, at $18,500,000.
Anyhoo, Your Mama wisher Mister and Missus Madsen well as they search for and move into a more affordable home.
Source: Internet Movie Data Base