Wednesday, October 1, 2008

The Once and Former House That McCain Built

Okay children, we have been getting all sorts of emails, phone calls and communiques from people linking us over to report after report (including one on CNN) that say Republican presidential hopeful John McCain and his heiress wifey Cindy are selling their 15,000 square foot house in Phoenix, Arizona.

They are not.

The 13 bedroom and 14.5 bathroom house that is everyone is all atwitter and agog about is the house where Senator and Mrs. McCain once lived and raised their family, but they have not owned or lived on the property since late 2006.

We don't want to slam CNN (a major news network on which Your Mama has appeared) or the fine political people at Wonkette, but listing information for the property auction and a report in the Phoenix New Times clearly states that it's the former home of John McCain.

Did you hear that children? The FORMER home of Senator John McCain.

Furthermore, property records show that Senator and Mrs. McCain sold the house in December of 2006 for $3,200,000 to a real estate developer named Jane Popple who overhauled the resort like property and is now attempting to flip it at an auction scheduled for October 25, 2008.

So where do the fabulously rich McCains live? As has been widely publicized, they own and occupy half a dozen homes or more, just not this one.

13 comments:

Venice4504 said...

Sorry Mama! I just sent you another link to this...yikes! :)

Jesse B. said...

Surprisingly, they are not THAT rich. I thought there was more money in beer distribution, but based on reports I've read from insiders, the business only grosses something like 150MM a year and throws off a few million in cash for Cindy.

Since she inherited the business, and executives there claim she is very hands-off - almost never coming into the office - I have to wonder if she is living slightly beyond her means?

A few million a year isn't that much money. A half a dozen homes cost a lot to maintain.

Granted, they are better off than many Americans, but I could very easily see her spending outstripping her income.

Jesse B. said...

And seriously, if they are going to spend all of that time wetting down the patio to give it that special look, wouldn't they at least take another 30 seconds to grab the cleaner out of the pool?

(I am referring to the Wonkette photo, also the photo used on the auctioneers site)

Sam said...

let me guess the flipper is selling it for ??????

FIFTY MILLION !!!!

right ?????

hey maybe you can put up posts where we can guess the listing prices, what do you think ?

Anonymous said...

Doesn't the word "auction" mean it isn't selling for a set price so it wouldn't have a "listing price"? What do you think?

Anonymous said...

I learned that Cindy's arm was fractured by McCain, Not an overenthusiastic voter.

Anonymous said...

the flipper is asking 12 million. The layout is odd and the lipstick they applied to the pig is ugly!

randomdrew said...

She may only make a few million a year from the company as a hands-off owner, but her father was quite wealthy as a result of him owning the business, and I have heard that aside from her dividend income, her net worth is North of $200 million. Based on that, I would say they are not living beyond their means.

Jesse B. said...

Oh, well $200MM can surely support that lifestyle then. That alone spins off decent cash. At least $800M a month at an extremely meager 5%. They probably don't spend anywhere near that, which hopefully means their asset base is growing.

Anonymous said...

his ranch is in sadona, az

Anonymous said...

Mama, using your super sleuth powers and/or stellar sources, are you able to scrounge up pics of what the house looked like when the McCain's sold? Inquiring minds want to know...

Deidre said...

I'm amazed that it has gone to auction this quickly. It looks like someone is trying to make fast money before the election. I covered this as an estate of the day back in July, you can find listing pics and a link to the Arch Digest spread done when the McCains owned the home here
http://www.luxist.com/2008/07/17/john-mccains-former-home-estate-of-the-day/ It was prettier when the McCains owned it.

Anonymous said...

Thanks, Deidre!

I do like the house in its old form, although I must say I would have only bought it was a retreat. It has more of a retreat feel than a primary residence feel.

As for the "new" residence, I do not see how it is worth $12,000,000 in Phoenix...even with it's 15,000 SF and resort like features.