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Former Housewives of Orange County beau-hunk Slade Smiley is back in the real estate gossip columns. The LA Times‘ celebrity real estate high priestess Ruth Ryon recently reported in her Hot Properties column that the former reality television stud purchased a unit in the much publicized and bally-hooed Eastern Columbia loft building, which happens to be located in a still scrappy and crappy part of downtown Los Angeles.

Yes kids, this is the same freshly converted condominium conversion where LA based designer du jour Kelly Wearstler did up the lobby (her huzband happens to own the company that developed the building), and where a-list actor Johnny Depp plunked down $2,100,000 for a penthouse unit. No one seems to know just why Mister Depp, who owns a lavish and storied estate above Sunset Boulevard, would want or need a modestly sized loft downtown. Your Mama sniffs a publicity ploy, but we’re cynical that way.

Anyhoo, the new condo isn’t the only new piece of real estate gossip about Mister Smiley. The former mortgage broker (isn’t that what he did?) has long been trying to unload his 4,800 square foot mess of a mini mansion in Orange County ever since his former ladee friend Jo dumped his ass so that she could live in Los Angeles and pursue her heart’s desire to be a pop star.

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Originally priced at $1,725,000 and listed with Housewife Jeanna Keough natch, the price was reduced several times and was recently karate chopped to just $1,290,000. Which, quite honestly, still seems like a lot of paper for a house with white carpet, questionable architectural integrity (at best), and no swimming pool. Then again, what does your Mama really know about the real estate ambitions of all the too tan and plastic boobed behatchas who marry high earning and emotionally absent husbands so they can live behind the glitzy gates of Coto de Caza? Ouch. Did we say that?

We also heard recently from someone we’ll call Timothy Tattletale who whispered to Your Mama that Mister Smiley’s house is in default, which we heard once before from a gal we call Connie Crossyerheartandhopetadie. But our quick little bit of research did not turn up any evidence of that, so perhaps Mister Smiley has made good with the tax man or the lender or whomever it was that wanted money from him.

Whatever the case, Your Mama looks forward to being invited for gin and tonics over at the Eastern Columbia where Mister Smiley can fill us in on all his new and exciting ventures.