The Calabasas home underwent a two-year renovation that added Panda marble and a dramatic chandelier.
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A Los Angeles-area mansion that was built by actor John Stamos hit the market last week for nearly $13 million.
Located in the hills of Calabasas, Stamos built the Mediterranean-style home in 1992 after buying the 6-acre property in 1991 for $430,000, records on PropertyShark show. He owned the home for about a decade, selling it in 2001 for $2.15 million.
The current owners, Justin and Candace Aguilera, bought the home in early 2020 for $2.95 million, records show. Though the home’s interior was dated at the time, Justin Aguilera said they were attracted by “the bones of the house.”
“We thought, ‘This could be amazing,’ but the whole house hadn’t been touched since the early ’90s,” he said.
Over about two years, the Aguileras entirely remodeled both the home and its grounds. Inside, book-matched Panda marble flooring—white marble with black patterns—is heavily featured throughout the house. They also added an elaborate crystal chandelier that’s about 15 feet in size and a two-sided fireplace to the formal living room, which is just beyond the entrance.
The 8,100-square-foot home has six bedrooms and six bathrooms, including an approximately 2,500-square-foot primary suite, which Aguilera said is one of his favorite spaces in the house. The primary bedroom has high vaulted ceilings, and the suite also includes a sitting area with a fireplace, a wet bar, a bathroom with dramatic black marble and a “glam room” with a salon-style setup for doing hair and makeup.
As the home was designed for entertaining, there are bars both inside and outside, with the indoor bar room featuring marble flooring, black coffered ceilings and seating for at least six.
The Aguileras also completed renovation work outside. They replastered the pool—which also has a hot tub and a grotto—added 350 landscape lights and redid about 5,000 square feet of patio space with travertine.
In addition to aesthetic upgrades, the Aguileras also made sure to fireproof the property.
“On the hill, on the hardscape, we added a sprinkler system, so we don’t have to worry about a fire,” Aguilera said.
Sitting up on a hill, the home overlooks the Malibu Canyon, and the Aguileras put in large gridless windows throughout the home so as to not break up the view.
“In the morning, since we’re so high on the hill, when the clouds come in from the coast, they always sit below you,” Aguilera said. “So you’re looking at a blanket of fog—it looks like a waterfall.”
The property’s acreage provides room for the next owners to expand, including with the option to add a helipad, according to Compass, which is marketing the property. Alessandro Corona holds the listing.
Also this week, the San Francisco townhome that was featured in “Full House”—in which Stamos starred as Uncle Jesse— sold for $6 million . The home had previously been renovated by the “Full House” creator , Jeff Franklin, who is now selling his Beverly Hills megamansion.
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The US housing market remains under pressure as high mortgage rates continue to weigh on affordability and demand. Industry leaders say 2026 has been one of the toughest years for home sales, with slower price growth, weaker mortgage activity, and fewer buyers entering the market. However, experts say reduced competition and more price cuts could create opportunities for well-prepared buyers.
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The typically busy spring season for the housing market was a dud, and the summer isn’t looking much brighter.
Housing services companies like Zillow Group and Rocket RKT +3.78% were loud and clear last week on earnings calls: Rocket CEO Varun Krishna called the quarter through June “one of the toughest spring housing markets in years.”
Jeremy Hofmann, Zillow’s chief financial officer, said on a conference call that the company predicted earlier this year that the market for mortgages would be flat. “We actually now think it’s going to be down low-to-mid-single digits,” he said.
The rest of 2026 will remain challenging for mortgage origination volume, says KBW analyst Bose George. The question now is what happens in 2027. “If mortgage rates remain [around] 6.75%, I think that’s going to be challenging even for next year,” he says.
But what’s bad news for mortgage companies could be a positive for bargain hunters. Buyers can expect prices to grow more slowly—or mildly decline—with less competition as long as mortgage rates remain unpredictable.
Mortgage rates at the beginning of the year were solidly below year-ago levels, notes Zillow senior economist Kara Ng. But they surpassed last year’s levels recently, she adds, referencing Freddie Mac’s weekly survey of 30-year fixed mortgage rates. Last week’s reading, at 6.69%, was higher than year-ago levels for the first time in 2026.
“From the affordability point of view, it’s going to get more challenging in the second half of the year,” she says. “And when affordability gets more challenging, that impacts sales and home price appreciation.”
Mortgage application data tracked by the Mortgage Bankers Association has cooled since the beginning of the year. The trade group expects that the number of mortgage originations in the remaining two quarters will lag behind last year’s levels, after exceeding 2025 levels in the first half.
Rocket’s early-stage data—which the company told Barron’s it derives from its brokerage Redfin, demand for its mortgage products, and signs in its servicing portfolio that a homeowner is preparing to refinance or move—“leads us to expect the third quarter mortgage market to be smaller than the second,” Chief Financial Officer Brian Brown, said on the company’s call. He added that such an occurrence is “something the industry has not seen since 2022.”
Prices will be about flat nationally, Ng says. Zillow’s most recent forecast, which shows how values are expected to change in the year ending June 2027, show them dropping in roughly half of the 100 largest U.S. metros for which data is available.
Buyers aren’t rushing in at a time when mortgage costs are rising and unpredictable. But those with the right combination of patience and cash could stand to benefit. “If you are financially qualified to buy a starter home, you are facing less competition and you’re more likely to get a price cut,” Ng says.
