Long before the rumors that Sarah Palin had bought an Arizona home surfaced someone went by the nearly-finished manse and took a detailed video tour. The financials behind this property follow the tale of short sales and house flippers everywhere. Before the house was fully finished it was foreclosed upon with $1.24M left on the note. Last year a real estate investor (Ian Whitmore) bought the house from J.P. Morgan Chase bank for $800,000. He did a bunch of work on it and sold it to a company called Safari Investments for at least twice that price on May 13th, 2011. Safari Investments is a limited liability company that was created the day before this house was purchased and is reportedly owned by Sarah and Todd Palin. There are differing reports as to how much the Palins paid, but they range from $1.6M to $1.75M. Funny how she didn't mention any of this over this past weekend when she was in town for Rolling Thunder.
The house is one of the smaller mega-mansions in the neighborhood at 7,000 square feet, but we bet this is the only one with a master suite that takes up an entire floor. That same master also has a full bar and an entrance to the house elevator, which takes you right down to the basement with a three-tiered movie theater and game room. See the video of what the house looked like before the latest renovations after the jump and for what it looks like inside after all the reno work check out the photo gallery from our cousins over at Curbed National.
· Video Tour Of 29005 North 82nd St [YouTube]
· Sarah Palin's New $1.75 Million House Purchase Exposes Another Facet Of The Neverending Housing Scam [Zero Hedge via HuffPo]
· Sarah Palin May Have Bought This Arizona Pad As New HQ [Curbed National]
· Sarah Palin Buys A Luxury House In Scottsdale [Arizona Republic]
· Is Sarah Palin Hightailing It For The Lower 48 [Real Estalker]