Short sales, in which a home is for sale at less than what is owed on the mortgage, are a rarity on the Multiple Listing Service these days, especially in a neighborhood full of multi-million dollar homes. Short sales were more prevalent about a decade ago, during the housing downturn, as a way to avoid a foreclosure.

A 13,000-square-foot Shady Canyon home is on the market as a short sale for just under $7 million.

In a short sale, the lender must approve the transaction.

Built in 2007, the estate at 89 Canyon Creek has nine bedrooms and 11 bathrooms, along with “one of the most impressive garages you’ll ever see,” according to the listing. We’re trying to learn more about that.

The listing also cites “multiple kitchens, raised pool and multiple game rooms.”

The home, on two-thirds of an acre, has been on and off the market over the past decade.

The residence first was listed in April 2008 at $11.8 million. By February 2016 it was for sale at  $7.495 million, eventually increasing to $9.495 million. The price dropped to $7.995 million in June and to $6.995 million on August 21, according to the MLS.

Shady Canyon is a guard-gated community in Irvine boasting a golf course designed by Tom Fazio.  Sports radio host Jim Rome made headlines there when he sold his six-bedroom home for $12.5 million in 2017. The sale was a record for the development.

The priciest home currently on the market in Shady Canyon is a 13,969-square-foot Tuscan estate for $14.9 million.

Tarek El Moussa of HGTV’s “Flip or Flop” is co-listing the Canyon Creek home with Eric Crisp. Both agents are with Pacific Sotheby’s International Realty in Orange County.