Ex-King Ron Artest Joins Long List Of Placer Short Sales

When Ron Artest left the Sacramento Kings more than two years ago, he took with him a very expensive reminder of his time here – the mortgage on his home in Loomis.

Artest paid $1.85 million in 2006 for the five-bedroom, four-and-a-half-bath house, but the property attracted no buyers as he bounced from Sacramento to Houston to Los Angeles.

That finally changed late last month, when the property was sold to local businessman Paul J. Bianchi for $1 million. Like so many others who bought before the real estate market crashed, Artest had to resort to a short sale, in which the lender agreed to take less money than was owed on the property.

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