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Hot Property: Maloof matriarch sells in Beverly Hills

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Colleen Maloof, whose family’s holdings include the Sacramento Kings and the Palms Casino Resort in Las Vegas, has sold her Tuscan-inspired home in the gated Mulholland Estates area of Beverly Hills for $7.3 million, according to the Multiple Listing Service.

That’s 8.75% below the $8 million she paid for the home in 2006, a search of property records shows, nearly 19% below the most recent MLS listing price of $8,985,000 and 33.6% below the November asking price of $10,995,000. Ouch.

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There’s more at latimes.com about her sale and the reduced asking prices of the homes of sons Joe and Phillip.

--Lauren Beale

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