The real estate sell off from the Real Housewives television shows continues. We are back in the O.C. for a look at the home of Tamra Barney, one of the stars of "The Real Housewives of Orange County." The Real Estalker reveals that Tamra Barney and her husband Simon recently put their Ladera Ranch, California home back on the market. They first listed the five-bedroom home last November. The Real Estalker also took a peek over at Redfin where the home is listed as a short sale. According to property records the pair paid $1,320,500 for the home in 2005. They are set for a loss as they are only asking $1,149,000 for it now.

For your money you get the standard Tuscan-style inland Orange County home, beige on the outside, dark wood and tile on the inside. The backyard is rather nice with a saltwater pool, spa with a waterfall, a built-in grill, bar, fireplace and firepit. The kitchen features a large granite-topped island with barstool plus a separate breakfast table. Dispensing with the usual flatscreen television over the fireplace, the family room has a large television built in to a wood cabinet. The living room and dining room are separated by a half wall which keeps the dining room from being too narrow. I don't watch the show so I don't know if this is how her home usually appears but it looks staged and ready for sale to me.

UPDATE: This home is no longer on the market.
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We mentioned a few weeks back that Jeana Keough, one of the women on "The Real Housewives of Orange County" was in default on several of her properties. After receiving a loan modification she decided to list her family home in the Coto de Caza area of Orange County California. She listed the seven bedroom home for $5.5 million and the pictures are now online. The rather fuzzy photos show the French Country estate with a guest house, basketball court and a large pool and spa with covered patios and a firepit. Inside the home has high ceilings, lots of draperies and plenty of beige. There is a two-person office with a view of the hillside, large family room with built in wet bar, game room, library and a media room formed by a pull-down screen, a couple of leather chairs with cupholders and some large speakers. This home has been listed at $5.5 million in a town which is stuffed with multi-million dollar properties on the market. We're not too optimistic about her chances of getting her asking price. She told the Orange County Register that the property was once worth $6.5 million and is now worth around $5 million.

UPDATE: This home has been pulled off the market.

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Jeana Keough, the former Playboy model turned real estate agent/reality TV star is having a bit of trouble in the Orange Country, California real estate market. She stars on "The Real Housewives of Orange County" and owns four homes including three rental properties. She has told the Orange County Register that all four homes are in trouble. Last month,her lender filed a notice of default for a $1.3 million mortgage made in 2003, saying that she owes $37,538 in unpaid bills. She's also under fire from the homeowner's association in her neighborhood, Coto de Caza which says she owes $3,732.

Keough, who recently announced that she wasn't not planning to return to the show, has said she's working on loan modifications on all four homes and that's why they are going into default. She has renters in her three other units but isn't sure if she is going to sell.

In November, we mentioned that California's Lamborghini Orange County, the world's largest dealer of the exotic Italian cars, had suddenly closed up shop. Now the whole story is unfolding and it's quite intriguing. The OC Register checks out court documents accusing the owners of Lamborghini Orange County in Santa Ana of selling their cars at heavy discounts and not paying their creditor. A lawsuit filed by Volkswagen Credit Inc, says that it paid for Lamborghini O.C.'s cars in advance of sale and never received the $12 million owed for the vehicles.

In a separate suit, the owners of the dealerships, Vik Keuylian and his sisters Asdghig, Nora and Sossi Keuylian are also accused of defaulting on a $3 million loan from East-West Bank. And in Las Vegas, Stephen Cloobeck, owner of Diamond Resorts, is suing Vik Keuylian for $340,000 for taking his 2008 Lamborghini Murcielago and never paying him for it. The high-profile dealership was famous for its celebrity clientele some of whom may be driving cars that the dealer never paid for.

Another casualty of tough times in Southern California's Orange County appears to be opera. The recent staging of "The Barber of Seville" may have been the swan song for Opera Pacific, the area's professional opera company. The company was founded in 1986 and has been going strong for years but currently a limited circle of patrons has been unable to swing the $4 million to $5 million in donations needed to fund a season's budget of about $7 million to $8 million. The LA Times reports that the company has canceled its two remaining operas "The Grapes of Wrath" and "Salome" and has put its its office, set-storage and rehearsal building in Santa Ana up for sale and laid off all but two members of the staff. Donations to the arts are often first hit when people scale back their philanthropy in tough times.

Southern California's Orange County is one of the state's wealthiest areas and it is home to many luxury brands but the OC Register reports that the world's largest Lamborghini dealer, Lamborghini Orange County recently closed. The dealership usually sold a full 10 percent of all the Lamborghinis produced in the world and Lamborghini has planned to move its North American headquarters to Santa Monica partly to be nearby its big dealer. The owner of the dealership has not commented on the situation but Pietro Frigerio, chief operating officer of Lamborghini America is quoted as saying that the dealership's financial stress is due to "several unfortunate business decisions" made by the dealership in addition to the economic stressors. At least nine Orange County auto dealers have closed since January but none were as high profile as the Lamborghini dealership. The OC dealership is now padlocked and the lot is vacant.

Yet another story about posh car dealerships comes from the OC Register which reports on a $65 million new Lexus dealership which is said to be one of the most expensive car dealerships in U.S. history. The new Lexus dealership is located down the street from Fletcher Jones Motorcars, the nation’s largest dealer of Mercedes-Benz. The amenities are pretty sweet in both places. The Fletcher Jones dealership has a valet, the Newport Lexus dealer will have a service concierge. Fletcher Jones has a Starbuck’s and the Lexus dealer will have a Wolfgang Puck Café. There are also entertainment options including large TVs and a putting green. I’m not quite sure why they need this in the O.C. but there will be a year-round fire in a cozy fireplace at the Lexus dealer.  A BMW dealership in Santa Ana also a Diedrich Coffee shop and is building a $31.5 million showroom that will include iPod stations and individual televisions at every seat and a barbershop that will offer haircuts. All this might actually make going to have your car serviced a fun trip rather than a chore.