It's summer time, and you know what you need? A party house in the Malibu Colony. This is a great one--just ask Cheronda Guyton, the Wells Fargo executive who used the bank-owned house as her personal party pad last summer and paid the price.
The four bedroom, four bathroom house was handed over to Wells Fargo in May 2009 by Bernie Madoff victims and recorded at a $12 million value. When the LA Times discovered (via disgruntled neighbor) that Guyton was using the not for sale house, she was fired and the house was hastily put on the market, listed by reality television real estate agent Chad Rogers at $21.5 million (When you've already got a scandal on your hands, why not throw a reality star in the mix?). Somewhere along the way it got some slightly less saturated photos and a few weeks ago, a chop. It's now asking $18 million. According to the LA Times story, people were tripping over themselves to make offers back when Wells Fargo was keeping the house off the market. Where oh where have they gone?
· 23360 MALIBU COLONY Rd [Redfin]
· Chad Rogers Lists Wells Fargo Malibu Party House [Curbed LA]