News

John McCain's Former Residence Still For Sale; Price Dropped to $10 million

This probably isn't the deal you've been waiting for, but the price of the Phoenix mansion formerly owned by John McCain has dropped by $2 million.

You can now buy this piece of Arizona history -- (imagine the dinner party conversations: "Yeah, the guy who Obama beat lived here,") --  for a mere $10 million.

The Wall Street Journal mentioned the home in a Friday article. It went up for sale back in October, but failed to find a buyer at auction.

Stewart Larsen, owner of the real estate firm that tried to sell the mansion, says the October auction was disappointing because it only pulled in five registered bidders, none of whom offered more than $7 million.

The home's owner, real estate investor Jane Popple, later agreed to try to sell the place for $7 million up until Election Day. The offer received no bites, and the extra exposure on the home from the presidential campaign petered out when McCain lost the race. Now, the real estate market is even worse than it was in November. Larsen doubts it will fetch the lowered, $10 million asking price.

Zillow.com estimates the price at just under $3.4 million.

Like the Senator himself, John McCain's former home just can't close the deal. 

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Ray Stern has worked as a newspaper reporter in Arizona for more than two decades. He's won numerous awards for his reporting, including the Arizona Press Club's Don Bolles Award for Investigative Journalism.