Richard is selling his L.A. house

Richard Fortus Re-Lists House: Guns N' Roses Guitarist Asks for $429K in California 'Short Sale'
Posted on May 2nd 2012 1:30PM by Kenneth Partridge

Good news for Guns N' Roses super fans: It's probably never been more affordable to live in a home formerly owned by one of the band's members. This is bad news, however, for Richard Fortus -- or perhaps more correctly, for his mortgage company. According to the San Fernando Valley Blog, the guitarist has re-listed for $429,000 a Woodland Hills, Calif., home he bought for $700,000 back in 2006.

Fortus was originally asking $549,000 for the single-story, three-bedroom, 1,500-square-foot contemporary house, and the new price represents an approved "short sale." As Blabbermouth.net explains, a short sale is what happens when a property owner owes more than their home's market value and, facing some sort of hardship, gets permission from the lender to sell for less than is owed.

The 43-year-old veteran axeman is reportedly selling the pad because he's moved back to his hometown of St. Louis to be near family.

By all indications, the house is a steal -- and not just because the flat-screen TV hanging in the living room was a present from Axl Rose. There's also a pool, an outdoor living room, stainless-steel appliances and a covered patio.

"Based on nearby similar listings, this home appears to be the cheapest so there is a good chance that it sells relatively quickly," reads the San Fernando Valley Blog post.