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Thursday, March 17, 2011

Gary Coleman's Utah Home Drops to $225,900

Gary Coleman's Utah Home Drops to $225,900

The late actor Gary Coleman's former Utah home got a price reduction last week. Now listed for $225,900, the Chase bank-owned property located in the small town of Santaquin is where the 42-year-old actor fell down the basement stairs in May and suffered a brain hemorrhage that led to his death two days later.

"Santaquin is a great area; a smaller community for raising kids," Mark Murdoch, the assistant for listing agentLindsey Andrus of South Rim Realty, told AOL Real Estate. He said prices here have been pretty stable, but gave no indication as to why the former Coleman home has yet to sell. However, a court document obtained by TMZ last summer, stated that the home was in "poor/distressed condition."

The two-story home was originally listed for $324,000 along with an adjacent lot, but had a previous list price of $237,600. Coleman paid $320,000 for the home in 2006.

When life support was pulled on the "Diff'rent Strokes" star by his ex-wife Shannon Price, who still lived with him at the time, Coleman owed $325,158 on the upside down mortgage, according to TMZ-obtaineddocuments filed in court last summer by the court-appointed Special Administrator of the estate, who wrote that "belongings in the house are disorganized and in disarray."

Priced at $48 per square foot, the 1996-built home sits on just over half an acre on a cul de sac. The 4,724-square-footer has three-bedrooms and three baths. Listing photos show a privacy fence around the front and sides of the home and a vaulted ceiling in the living room.

Gossip rags reported that the bed had been covered in items such as adult diapers, dirty laundry, broken light bulbs and peanut butter. The home was eventually cleared of all items before it went on the market.

Chase Bank is willing to give special finance considerations to qualified buyers. The listing details say that the "[s]eller will credit buyer up to 3 percent of sales price toward closing costs if negotiated."

1 comment:

  1. The mortgage market is facing pressures from new laws and regulations, still-declining home prices and the ongoing need for government-owned mortgage players to shore up their finances.