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The brutal real estate market has also claimed the former home of Arizona Sen. John McCain and wife, Cindy, as the sprawling, 12,000-sq ft property on the Phoenix real estate market is facing foreclosure. A trustee-sale auction is scheduled for Aug. 15, according to azcentral.com.

The home is Cindy’s former childhood home and where she and Sen. McCain raised their children. The McCains sold the home at the peak of the real estate market in 2006 for $3,200,000, when McCain began to campaign for the 2008 presidential election. He and Cindy then “downsized” and bought a large penthouse suite (created out of side-by-side units), in the luxury building “2211 Residences at Camelback.” (See all the McCains’ homes).

Real estate investor Jane Popple purchased the McCain home and renovated it in 2007, plus added about 4,000 square feet to it. According to Zillow’s Price History chart (left), she listed it for sale in 2008 for $12 million, and then over the years, the listing price began to drop: first to $10 million, then $9.9 million, $5.9 million, $4.9 million, $4.7 million, $3 million and now down to $2.5 million.

The home is on nearly 3 acres and is equipped for large gatherings. There are several outdoor bars that are ideal for “entertaining 250-400 of your closest friends.” Inside, is an open floor plan, with several great rooms that feature vaulted ceilings. The home has 9 bedrooms, 14.5 bathrooms, and a “chef’s kitchen” with a huge butler’s pantry.

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