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Reese Witherspoon's Sweet Home Shangri-La!

Anonymous • May 2, 2013 at 4:07 PM

This week at TopTenRealEstateDeals.com we take a look at Reese Witherspoon's Libby Ranch in Ojai California for sale at $7.25 million.

If the world hasn’t already heard the news, Reese and her agent-husband James Toth were arrested last week in Atlanta. Toth couldn't Walk the Line and was busted for drunk driving, and Reese's Best Laid Plans went awry as she also went to jail for her refusal to follow police instructions and her uncontrolled mouth.

In an interview with a British magazine just before her Atlanta problem, Reese blamed her new baby for her recent craziness: "Ever since I had the baby, I can't remember anything. Serious, this child stole my brain." Another reason Reese might be a bit testy these days could be the same thing that has driven thousands of home sellers to the edge of rage – a bad real estate market. Since her home was listed at the end of last year, she’s already cut the price by $2.5 million. Ouch!

Libby Ranch was originally built in 1923 for Edward Libby, the early owner of Libby Glassware, as a stable. In following years, the ranch evolved and was the fictional Shangri-La in the Frank Capra film Lost Horizon. The home has had other illustrious owners such as Harold Ramis (Ghostbusters) and Kathryn Ireland, fabric designer and decorator to the stars. It was designed by Wallace Neff with later additions by Austen Pierpont. 

In other home news:

The Florida home that George Jones and Tammy Wynette bought shortly after they were married in 1969 is for sale at $1.95 million. The home was both the inspiration and title for the Jones' hit song Two Story House: “There's chandeliers in every room, imported silks and satin all about. We filled the house with everything but somehow left love out.” George was the master of country & western heartbreak music. 

Although George wrote in his autobiography that, “I was happier than I’d ever been” when he and Tammy were living at the Two Story House, the king and queen of country music's marriage soon crashed with George’s boozing and drugging and the loud parties that turned once friendly neighbors into adversaries. George and Tammy moved out in 1972 and divorced in 1975. 

The house was originally built in 1902 in downtown Lakeland by lumber company owner H.B. Carter, it was later moved to the outskirts of Lakeland by a subsequent owner. While still owned by Carter, notables such as Thomas Edison and Teddy Roosevelt were entertained at the historic home.

And a famous old Kentucky horse farm:

Worldwide anticipation is building to fever pitch for the 139th running of this year’s Kentucky Derby on May 4th. Ladies hats are pushing into the $500 range, tickets are quickly being sold and bets are being made while Martina McBride is practicing for her rendition of the National Anthem. Lexington's Vinery Farm, one of the finest horse breeding farms in the world, is now on the market.  Since 2003, Vinery has invested nearly $18 million in racehorses. Seventy six percent have become winners and 25 percent of them stakes horses. Vinery Farm’s Laurie’s Rocket and Flashpoint finished 1-2 in the $75,000 Hot Springs Stakes going six furlongs at Oaklawn Park in April.

So don the perfect hat, start muddling the mint and don’t forget to concentrate on the Derby while your mind is secretly on this ultimate Kentucky horse farm! Vinery Farm is priced at $13.97 million.

Real estate is never boring at TopTenRealEstateDeals. Check out today's most entertaining and unusual real estate news stories of the week. News such as weird celebrity homes, haunted homes you can actually buy, and dirty real estate tricks.

TopTenRealEstateDeals.com also features Top 10 Condo Developer Deals, Top 10 upcoming home and condo auctions, and regional real estate agents' choices for the best deals in their areas. To read more, click HERE.

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