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PriceChopper: Gilded Malibu Mansion Basically Free

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It's basically free for Saudi princes looking for a weekend beach shack in Malibu, that is. It's not clear when Villa Versailles came to market, but as of April 2008, the home was listed at $23.75 million. A listing agent for the home spilled the backstory on the 10-bedroom home: It was built in 1992 by a guy who wanted to impress the love of his life. The couple moved in, but only lived in the home for a weekend because she didn't like living so far away from Los Angeles. Anyway, the home's price dropped to $19.9 million in April 2009, and last week, the home was relisted at its more modest $14.995 million price. Given the land, and all that gilding, aren't the owners taking a bath? At this point, why not just turn the whole place over to orphans. They can get to work chewing off all that gilding.
· 30553 MORNING VIEW Dr [Redfin]