Celebs in real estate and financial trouble

NEW -> Contingent Buyer Assistance Program
Ouch!! Looks like Derek Lowe (ex-Dodger) had to Lower his price quite a bit...$1.1 Million dollar loss to be exact, in the good old South Bay (My hometown)

http://www.mbconfidential.com/2010/05/way-lowe-r.html

In Aug. 2006, he bought 204 19th (4br/4ba, 4260 sq. ft.) new for $5.0m.

When his last of 4 seasons with the Dodgers was nearly over in Sept. 2008, he listed the home for $5.7m. Nice markup.

Once he knew for sure that he was leaving town 4 months later, he dropped the price to $5.2m. (See "Lowe-ring the Price.") Still a markup, though.

Another 4 months later came the final (public) price cut: to $4.599m on May 21, 2009. First markdown.

Precisely one year passed, and a sale closed last week, May 21, 2010, for $3.9m.
 
Is this show cursed or what?  Another housewife, this time in New Jersy, is belly up on their home.  Up to her big hair in hawk to the tune of $11 Million clams..WTF!!

http://www.nypost.com/p/news/local/deadbeat_reality_8f3qwDPV2oY8s9N51fL82I


She has a gaudy new mansion, pricey breast implants and spends thousands of dollars on shopping sprees for her spoiled brats -- but a New Jersey reality star and her goombah hubby are real-life deadbeats who owe $11 million, court records show.

Free-spending "Real Housewives of New Jersey" diva Teresa Giudice and her husband, Joe, make just $79,000 a year and are up to their tanned necks in liens, foreclosures and unpaid bills, according to bankruptcy papers filed in Newark federal court.

The Giudices say they owe creditors $10,853,648.04.
 
Not a celeb but now these foreclosures are taking lives...sadly

http://www.breitbart.com/article.php?id=D9GBU8780&show_article=1

Home in SoCal murder-suicide in foreclosure
Jun 15 04:35 PM US/Eastern

ANAHEIM, Calif. (AP) - A man who shot his wife to death and critically wounded his 3-year-old son before killing himself had money troubles and the family home was in foreclosure, police said Tuesday.
Money problems?and marital troubles that may have stemmed from the man's financial situation?were being investigated as possible motives in Sunday night's shootings, said Sgt. Rick Martinez.

 
Ron Artest may be a Basketball World Champion but he lags a bit in real estate...

http://www.sacbee.com/2010/06/18/2831518/ex-king-artest-joins-long-list.html#ixzz0rFHXbCgI


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.



 
Not that they are in any real financial trouble but a 1.7 million dollar reduction has got to smart...

Price plunges on Sandra Bullock?s former home
July 6th, 2010, 2:00 pm

The asking price on the oceanfront Sunset Beach house that Sandra Bullock and Jesse James shared before their marriage crumbled has taken a plunge of $1,755,000.  The 2-story house had a price tag of $6,750,000 when it went up for sale in April. Now it?s listed at $4,995,000

http://huntingtonhomes.ocregister.com/2010/07/06/price-plunges-on-sandra-bullocks-former-home/102773/
 
morekaos said:
Woahhh, Ms. Scarlett Johansson seems to be learning a very painful lesson in real estate investing....to the tune of around 2 million bucks.  Ouch!!

http://www.redfin.com/CA/Los-Angeles/7222-Senalda-Rd-90068/home/7127023

Feb 05, 2010  Listed $4,950,000  --  TheMLS #10-426273 
May 08, 2007  Sold (Public Records) $7,000,000 
Click to expand...

Closed for $4,300,000.00...That is a $2,700,000.00 slap in the face. Reality hurts as well as realty.
 
I don't comment on this thread but I am thankful for it.

Always interesting to see the scale of comparison with the rich and famous.
 
morekaos said:
Even Diane Keaton had to lop off over $2 million clams from her original $13 million ask...OUCH!!!

http://www.redfin.com/CA/Beverly-Hills/820-N-Roxbury-Dr-90210/home/6821700
Click to expand...

Ms. Keaton is hitting the eject button on another prop in the OC.

http://lagunahomes.ocregister.com/2010/07/13/oc-housewife-selling-diane-keaton-home/7023/

Jeana Keough, who is one of the original members of Bravo TV reality show ?The Real Housewives of Orange County,? is selling the former Laguna Beach home of actress Diane Keaton.

Looks like trouble likes company
http://www.redfin.com/CA/Laguna-Beach/989-Cliff-Dr-92651/home/3261603

 
OK, He is not a huge star but it is tragic and even a bit sad

Jeremy London Is Broke, Home In Foreclosure

http://iwantpop.com/340/jeremy-london-broke-foreclosed-home/

?It?s sad, Jeremy is a nice guy but he seems to have fallen on hard times. He asked me if he could clean cars at my house to earn some extra cash, and if he could borrow a car but I didn?t want any trouble,? adding ?Somebody came by the house around ten days ago, and then left, but I haven?t seen him in around four months, and he didn?t look to good. He originally spent a lot of money on the place but now it?s just a mess. His wife was living there with their young son and an ex-boyfriend after she and Jeremy split. Sometimes, he would come and visit and then she moved-out around a year ago, and he would live there himself on and off. It?s sad to hear about the incident in Palm Springs. I hope he will be okay.?


http://www.imdb.com/name/nm0518718/
 
Is stupidity now a viable legal defense?

http://www.tmz.com/2010/07/14/danny-masterson-bank-condo-loan-construction-lawsuit/

'70s Show' Star -- I Got Nailed in Real Estate Scam!

Danny Masterson -- who played Hyde on "That '70s Show" -- tried to dabble in a little real estate back in 2007 ... but claims he was duped into holding the bag on a $3.2 million condo that was never even finished.
Masterson -- whose rep says this is "one of 30 developments Danny has been involved in over the last 10 years" -- claims he went into business with a company called TomatoBank ... and agreed to co-sign a $3.2 million loan for a fancy 4-story condo in Toluca Lake, CA in 2007.

But according to docs filed in L.A. County Superior Court, Masterson claims the builders ran into some permit issues -- so TomatoBank secretly approved a 3-story structure instead ... all without telling Danny.

Of course, Masterson eventually found out -- and now claims he's screwed because he's on the hook for a $3.2 million loan ... but only has an unfinished 3-story building to show for it ... which obviously doesn't cover his debt. 

So, Danny is asking the court to force TomoatoBank to cover his losses -- and wants his loan agreement tossed in the garbage.
 
Man, I guess Chris Tucker is not laughing about this loss.

http://www.zillow.com/homedetails/16607-Arezo-Ct-Montverde-FL-34756/82057852_zpid/

07/17/2010  Listed for sale *  $2,000,000  -66.7%  $225  RE/MAX Central Realty 
06/20/2007  Sold  $6,000,000  1,296%  $677  Public Record 

I suppose not paying your taxes may have helped along this forced sale.

http://www.tmz.com/2010/07/27/chris-tucker-taxes-tax-problems-11-million-federal-irs-internal-revenue-service-debt-nic-cage-rush-hour/?loc=interstitialskip

Chris Tucker -- 11 Million Tax Problems
7/28/2010 12:30 AM PDT by TMZ Staff


--------------------------------------------------------------------------------

Chris Tucker's ongoing tax problems have reached Nicolas Cage proportions -- according to new docs, the "Rush Hour" star now owes the IRS more than $11 million in back taxes.




 
morekaos said:
morekaos said:
Woahhh, Ms. Scarlett Johansson seems to be learning a very painful lesson in real estate investing....to the tune of around 2 million bucks.  Ouch!!

http://www.redfin.com/CA/Los-Angeles/7222-Senalda-Rd-90068/home/7127023

Feb 05, 2010  Listed $4,950,000  --  TheMLS #10-426273 
May 08, 2007  Sold (Public Records) $7,000,000 
Click to expand...

Closed for $4,300,000.00...That is a $2,700,000.00 slap in the face. Reality hurts as well as realty.
Click to expand...

Ooopps...It actually closed for 4 mil even....that's a 3 million dollar loss.  THREE MILLION FRIK'N DOLLARS!!!!

Jun 16, 2010  Sold (Public Records)  $4,000,000  -16.5%/yr  Public Records 
Jun 16, 2010  Delisted  --  --  Inactive TheMLS #10-426273 
Jun 16, 2010  Sold (MLS)  $4,000,000  --  Inactive TheMLS #10-426273 
Feb 05, 2010  Listed  $4,950,000  --  Inactive TheMLS #10-426273 
May 08, 2007  Sold (Public Records)  $7,000,000  --  Public Records 
 
morekaos said:
morekaos said:
Even Diane Keaton had to lop off over $2 million clams from her original $13 million ask...OUCH!!!

http://www.redfin.com/CA/Beverly-Hills/820-N-Roxbury-Dr-90210/home/6821700
Click to expand...

Pulled on and sold the other for 2 million less than first ask...yikes!



Ms. Keaton is hitting the eject button on another prop in the OC.

http://lagunahomes.ocregister.com/2010/07/13/oc-housewife-selling-diane-keaton-home/7023/

Jeana Keough, who is one of the original members of Bravo TV reality show ?The Real Housewives of Orange County,? is selling the former Laguna Beach home of actress Diane Keaton.

Looks like trouble likes company
http://www.redfin.com/CA/Laguna-Beach/989-Cliff-Dr-92651/home/3261603
Click to expand...

Pulled one and sold the other for 3 million less than the original ask...yikes!

http://lansner.ocregister.com/2010/09/06/diane-keaton-family-homes-sell-6-5-mill/80187/

The Corona del Mar home of Oscar-winning actress Diane Keaton?s late mother Dorothy Keaton Hall has sold, along with a house  next door, for a total of $6,500,000.
Listings for the homes previously stated: ?Motivated seller ? family trust wants home sold ? remodel or rebuild a custom home.? In January, the properties had a combined asking price of $9,500,000, according to Redfin.
 
I cannot believe I missed this (and the OC housewives thread is dead)

? Previous PostNext Post ?All PostsO.C. ?Housewife? averts foreclosure
August 27th, 2010, 4:47 pm ? 16 Comments ? posted by Jeff Collins
Share47
Photo of Bellino home from listing website
A home belonging to the newest cast member of ?The Real Housewives of Orange County? narrowly averted foreclosure Wednesday after she and her husband got a last-minute loan modification from their lender, Register reporter Richard Chang reported today.

Alexis Bellino and her husband, Jim, defaulted on more than $80,000 in debt payments on the $4.56 million home they have owned for two years, according to documents Chang obtained.

Together with fees and penalties, the delinquent amount swelled to nearly $84,000 as of April, and their lender scheduled a foreclosure sale for noon Wednesday at the entrance to the central Orange County Courthouse.

But Jim Bellino told Chang that the sale was canceled after the couple and the lender reached agreement on a loan mod.

?Chase Bank has been great to work with on my modification,? Jim Bellino told Chang today. ?The trustee sale has been canceled, and the modification has been agreed upon.?

http://lansner.ocregister.com/2010/08/27/o-c-housewife-averts-foreclosure/79319/
 
Toni Braxton is even worse the second time around (BK)

http://www.luxist.com/2010/10/07/toni-braxton-files-for-bankrupcty-foreclosed-house-sold/

Toni Braxton Files For Bankruptcy, Foreclosed House Sold by Deidre Woollard (RSS feed)
Oct 7th 2010 at 2:01PM

One thing Toni won't have to worry about is her Nevada home, the one we checked out back in August.

The six-time Grammy winner and her husband, Keirston"Keri" Lewis bought the home in Henderson, NV home in 2007 for $2.6 million. The home was listed as a foreclosure on Realtor.com for $1.15 million. Listing pictures show that the home has been completely cleaned out. The home in the Seven Hills area of Henderson Nevada has four bedrooms, a pool, three-car garage and views of the surrounding desert. Realtor.com shows that the home was sold on September 17 for $1.060 million.
 
morekaos said:
Even Diane Keaton had to lop off over $2 million clams from her original $13 million ask...OUCH!!!

http://www.redfin.com/CA/Beverly-Hills/820-N-Roxbury-Dr-90210/home/6821700
Click to expand...

Well looks like she sold it...but for how much?

http://www.latimes.com/classified/realestate/hotprop/la-hm-hotprop-ryan-murphy-diane-keato20101004-10,0,2047030.story

"Glee" mastermind Ryan Murphy has purchased actress Diane Keaton's Spanish Colonial Revival in Beverly Hills for an undisclosed amount, public records show.

Keaton restored the Ralph Flewelling-designed hacienda, which she bought in 2007 for $8.1 million. It first came on the market in March 2009 priced at $12,995,000 and was most recently priced at $10.95 million. It could be months before the prices of September sales appear on public records.

 
I don't know if he is in any actual financial trouble but a $10 million dollar price cut sure smacks of desperation.

http://www.sfgate.com/cgi-bin/blogs/dailydish/detail?entry_id=75504#commentspage


Val Kilmer has slashed the price of his New Mexico ranch by a massive $10 million in a desperate bid to sell it.

Kilmer put his Pecos River ranch on the market in early 2009 for $33 million.

But the sprawling 5,328-acre property, which boasts a 10-bedroom, 10-bathroom, 11,573-square-foot house, still hasn't sold.

The Associated Press reports a Craigslist ad published last week lowered the price to $23 million.

http://www.santaferealtypartners.com/santa-fe/farm/201004278/
 
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