Monday, December 23, 2013
Reese Witherspoon Sells Ojai Mini-Ranch at Big Loss
LOCATION: Ojai, CA
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