Finally a dose of real estate wisdom from Diandra Douglas. We've been following the saga of Michael Douglas' ex-wife as she fights for a share of Michael Douglas' earnings from Wall Street 2: Money Never Sleeps." Her case, which hinges on a clause in their divorce that said that she was entitled to profits from spin-offs from his existing projects, was rejected in New York but is currently under consideration in California. All the while, Douglas has kept her Montecito, California home firmly priced at $29 million for nearly a year. But when I looked recently the price had been dropped down to $24 million.
The former Mrs. Douglas owns an enviable spread in Montecito, the ultra-pricey enclave that is home to Oprah Winfrey, Ellen DeGeneres and others. The Tuscan villa is on over seven acres which is actually divided into two lots. It is rumored that she got a $45 million settlement in the divorce as well as this home. The Real Estalker reported that the home was purchased way back in 1979 for just $275,000. The 1920s Mediterranean has large iron gates and a motor court leading up to the grand home. The home has been recently updated and has a 75' pool, guesthouse, tennis court, Japanese water garden and green lawns from which to take in the ocean views. Tile floors, dark wood beams, vaulted ceilings and arched French doors all add to the feeling of classic Californian Mediterranean style. The pool/guest house offers another living room and kitchen.
Gallery: Diandra Douglas in Montecito