The Real Housewives of New Jersey star Jacqueline Laurita and her husband Chris list their Franklin Lakes, New Jersey home for sale. The couple bought the home back in 2002 for $1,720,000 according to tax records and are asking $2,850,000 according to real estate website Zillow.
Looking at recent sales via tax records it appears the Laurita’s have significantly over priced their home to the tune of almost $1,000,000. With the exception of one home, recent sales have been in the $300 per square foot range, the Laurita’s are at $502 per square foot.
If you take the most recent comparable (highlighted below) which is much bigger than theirs and sits on a considerably bigger lot, the Laurita’s home sits on approximately a 76,00 square foot lot, the home, if I were listing it, should be listed at approximately $324 per square foot. Taking all this into consideration and if they want a quick sale, the home should be listed between $1,838,376 (low-end) and $2,133,424 (high-end $376 per sq. ft.).
Back in March 2013 the Laurita were allegedly facing foreclosure on this home, at which time the estimated value was $1,808,435. Currently Zillow Zestimates (notoriously incorrect), the value of the home at $2,320,391. Either way you slice it the home is overpriced. The Internal Revenue Service has placed federal tax liens on all the Laurita’s properties for unpaid taxes totaling almost $95,000, according to public records.
One thing I do find interesting about the on-line listing is that the listing agents claims in the marketing remarks that this is the first time the home has been on the market, claiming the Laurita’s are the original owners. According to tax records the home was built in 2001, the Laurita’s purchased it in February of 2002, things that make you go hmmmmm.
FIRST TIME OFFERED FOR SALE BY THE ORIGINAL OWNERS AS SEEN ON THE TV SHOW THE REAL HOUSE WIVES OF NEW JERSEY. THIS 6 BEDROOM 5 1/2 BATH GRANITE AND STUCCO MANOR HOME WITH 4 CAR HEATED GARAGE IS LOCATED IN SOUTH GATE URBAN FARMS ON 1.75 ACRES WITH LIMESTONE WALK WAYS. THIS CUSTOM BUILT HOME GREETS YOU WITH A 2 STORY ENTRY FOYER, LARGE DINING ROOM WITH MOLDINGS/HAND PAINTED MURALS, LIBRARY WITH CUSTOM WOOD WORK, 2 STORY GREAT ROOM WITH CUSTOM MOLDING/FIREPLACE/WET BAR DONE BY SALERNO, SALERNO KITCHEN WITH COMMERCIAL RANGE/WINE FRIDGE/LARGE WALK IN PANTRY, BREAKFAST AREA, MASTER SUITE WITH 2 LARGE WALK IN CUSTOM CLOSETS, GYM, ALL BEDROOMS HAVE CUSTOM BUILT CLOSETS, FINISHED WALK OUT BASEMENT WITH PLAY ROOM/WINE CELLAR/CARD ROOM/OFFICE/FULL BATH, NEWER DECK WITH OUTDOOR KITCHEN, SECURITY SYSTEM WITH CAMERAS/NIGHT VISION, WHOLE HOUSE WIRED WITH STEREO SYSTEM INCLUDING OUTSIDE, RADIANT HEAT IN ENTRY FOYER/GREAT ROOM/KITCHEN/MASTER BATH. POOL PLANS AVAILABLE FOR BUYER.
I guess now that Jacqueline is no longer on The Real Housewives of New Jersey there’s no need to live in the big manse with all the put on pretense. Hmmm, wonder if their moving to the much smaller home in Wayne, NJ? They purchased the Wayne home back in November of 2007. Notice the date? It’s right after the real estate market crashed nationwide, nothing like hedging your bets!