Celebs in real estate and financial trouble

NEW -> Contingent Buyer Assistance Program
My astonishment is not the 75% loss but that people would pay almost a half a million dollars for 190 (you read that right) square feet.....in 2002!!!!  I don't care if it fronts Heaven itself and your account balance TOPS GOD's.  That breaks down to $2447.37 a square...we were doomed to collapse.

http://www.tmz.com/2011/12/13/beyonce-takes-huge-loss-on-swanky-miami-condo/#.TulSlHo4dmI

Beyonce Takes HUGE Losson TINY Miami Beach Pad

Beyonce Knowles just got her pregnant ass handed to her in the real estate market ... selling off her swanky beachfront Miami property for 75% LESS than she bought it for ... TMZ has learned.

According to public records, Beyonce dropped $465,000 on a tiny cabana in a glitzy Miami condo complex back in 2002 -- it only measured 190 square feet ... and contained one 1/2 bathroom.

The place is basically a small little beachfront room, from which Beyonce could walk to and from the sand and the pool.

It's highly likely Beyonce owned a bigger condo in the complex ... and used the cabana so she could change and use her own private restroom without having to schlep all the way back through the building.

But that was BEFORE November 9th ... when  B sold the cabana for $110,000 ... a tad below her $135,000 asking price ... and $355,000 LESS than she paid for it. 

Tough loss ... but we're guessing she'll be able to get by somehow.

 
Frying pan to fire. Literally.

http://www.observer.com/2011/12/courtney-love-could-be-homeless-after-messy-renovations/

Courtney Love Could Be Homeless After Messy Renovations

Poor Courtney Love. After spending forever looking for a new place in the city, she finally found her dream home at 250 West 10th Street?with a little help from her friends at Curbed. But now Ms. Love?s landlords are threatening to evict her, after she has turned the townhouse into a regular hellhole.

According to attorneys for the landlord, Ms. Love extensively redecorated the place without the owner?s consent, something expressly forbidden in the lease agreement. We?re thinking red-lipstick stains on the white walls. According to a suit, which will be heard next week, Ms Love ?has wallpapered and repainted significant portions of the interior.?

Not to mention that little fire in the upstairs bedroom. Fire crews were called in June when the bed linens and curtains went up in flames. Courtney, how many times have we told you, no more smoking in bed!

The landlord claims it will cost $100,000 to restore the 1827 townhouse to its former glory, which was created by noted architect Steven Gambrel.

Then there?s also the teensy little problem of $54,000 in back rent. That may sound like a lot, but the case also reveals that Ms. Love is paying $324,000 a year in rent, or $27,000 a month. Perhaps those Nirvana royalties aren?t paying like they used to? The landlord has begun a non-payment proceeding at the New York City Civil Court seeing Ms. Love?s eviction.

Well on the upside, she?ll fit right in on the street with her signature crazy-eyes, matted-hair and unintelligible babbling.
 
More Rockers over their heads.  James ?Munky? Shaffer, guitarist for metal rock band KORN has lost a bushle of corn on these cool digs.

http://www.redfin.com/CA/Laguna-Beach/165-Crescent-Bay-Dr-92651/home/3261145

Dec 20, 2011  Sold (MLS) (Closed)  $2,600,000  --  Inactive CRMLS #L36766 
Dec 19, 2011  Pending  --  --  Inactive CRMLS #L36766 
Dec 17, 2011  Pending (Backup Offers Accepted)  --  --  Inactive CRMLS #L36766 
Oct 22, 2011  Price Changed  $2,795,000  --  Inactive CRMLS #L36766 
Aug 08, 2011  Listed (Active)  $2,895,000  --  Inactive CRMLS #L36766 
Jun 29, 2011  - Delisted (Withdrawn)  --  --  Inactive CRMLS #3 
Jan 28, 2011  - Listed (Active)  *  --  Inactive CRMLS #3 
Sep 03, 2010  - Delisted (Hold)  --  --  Inactive CRMLS #2 
Jun 23, 2010  - Price Changed  *  --  Inactive CRMLS #2 
Nov 24, 2009  - Price Changed  *  --  Inactive CRMLS #2 
Oct 19, 2009  - Price Changed  *  --  Inactive CRMLS #2 
Sep 08, 2009  - Price Changed  *  --  Inactive CRMLS #2 
Jun 05, 2009  - Price Changed  *  --  Inactive CRMLS #2 
Apr 26, 2009  - Listed  *  --  Inactive CRMLS #2 
Jun 23, 2005  Sold (Public Records)  $3,000,000  12.0%/yr  Public Records

http://southcoasthomes.ocregister.com/2009/09/28/why-rockstar-thinks-you-should-buy-his-home/

Why rockstar thinks you should buy his home
 
Bahahahahahah!!!!

http://miami.cbslocal.com/2012/01/16/bank-foreclosing-on-o-j-simpsons-kendall-home/

Bank Foreclosing On O.J. Simpson?s Kendall Home


MIAMI (CBSMiami/AP) ? JPMorgan Chase is moving forward with foreclosure proceedings on the Kendall home of O.J. Simpson.

Simpson, who is serving time in Nevada for kidnapping and armed robbery, bought the four-bedroom, four-bath house in 2000 for $575,000. Its current assessed value is $478,401.

The 64-year-old former football star and actor is serving a nine-to-33-year prison sentence in a 2007 armed confrontation with sports memorabilia dealers in a Las Vegas casino hotel room.
 
morekaos said:
morekaos said:
Is it possible this house is cursed?  First Nic Cage loses his buns and has to sell and now Jerry Herbst (Terrible Herbst) is selling everything (including this house) to hide assets as his casino investments drag them under.

http://www.lvrj.com/business/terrrible-herbst-owner-selling-newport-beach-home-92909849.html

http://www.redfin.com/CA/Newport-Beach/2692-Bayshore-Dr-92663/home/3246083
Click to expand...

It just gets worse..

http://lansner.ocregister.com/2011/03/02/nic-cage-house-selling-18-below-record-price/101381/

Nic Cage house selling 18% below record price

A Newport Beach mansion formerly owned by Nicolas Cage is now selling for $6.5 million less than the record $35 million that the movie actor got when it sold it three years ago.

The waterfront home, located on Bayshore Drive with a clear view across the channel, fetched the highest price ever paid for an Orange County home when Cage sold it in January 2008 to Jerry Herbst, owner of the Las Vegas-based Terrible Herbst chain of gas stations and casinos.

Herbst, who paid Cage $35 million, is now asking $28.5 million for the home, or 18.6% less than what he paid.

The price cut may be a barometer for how much prices for trophy homes have come down during the ongoing housing slump. Agents say that price reductions have been commonplace across the board for high-end homes of all types.
Click to expand...

Its official,  this house is cursed....

http://newporthomes.ocregister.com/2012/01/16/balboa-bay-club-sale-falling-apart/

Balboa Bay Club sale falls apart

Sources say that Chung?s difficulty getting money out of China was a problem not just for the bay club deal but also for his reported interest in buying the waterfront house formerly owned by actor Nicolas Cage, once Orange County?s highest-price residence.
 
How the heck does Kristen Bell lose her house after this splashy article in brag sheet In Style..I suppose it is now "in Style" to lose your house to foreclosure.

http://www.instyle.com/instyle/package/general/photos/0,,20302958_20220788_20665998,00.html

According to Real Estalker..

"Our own perusal of the property records confirms Miz Giveyousomedirt's accounting of the ugly matter and reveals twenty-something year old Miss Bell's secluded residence nestled snugly into the thickly wooded hills above Studio City with an easterly view over the neon lights of CityWalk at Universal Studios was snatched back by the bank in late January of this year (2012)."

http://realestalker.blogspot.com/2012/02/la-home-of-kristen-bell-falls-into.html
 
morekaos said:
How the heck does Kristen Bell lose her house after this splashy article in brag sheet In Style..I suppose it is now "in Style" to lose your house to foreclosure.

http://www.instyle.com/instyle/package/general/photos/0,,20302958_20220788_20665998,00.html

According to Real Estalker..

"Our own perusal of the property records confirms Miz Giveyousomedirt's accounting of the ugly matter and reveals twenty-something year old Miss Bell's secluded residence nestled snugly into the thickly wooded hills above Studio City with an easterly view over the neon lights of CityWalk at Universal Studios was snatched back by the bank in late January of this year (2012)."

http://realestalker.blogspot.com/2012/02/la-home-of-kristen-bell-falls-into.html
Click to expand...

And it hits the market with a thud...

http://www.redfin.com/CA/Studio-City/10948-Alta-View-Dr-91604/home/21921811

Feb 22, 2012  Listed (Active)  $1,995,000  --  TheMLS #12-583415 
Jan 30, 2012  Sold (Public Records) This home was foreclosed    $2,622,934  --  Public Records 
Nov 16, 2006  Sold (Public Records) $3,100,000  --  Public Records 


 
Looks like them "Hills" are not filled with gold...

Reality TV star?s family home foreclosed in Laguna Beach

The Laguna Beach family home of reality TV star Kristin Cavallari was foreclosed on about a month ago, according to public records.
Sitting high atop the hillside in South Laguna?s gated Three Arch Bay community, the property at 96 Vista Del Sol sold to OneWest Bank Feb. 27 for $6.11 million, records show
In early 2009 the property was listed for as much as $13.95 million, according to Register records and the Multiple Listing Service.

This sprawling ocean-view home even made a TV cameo. Cavallari, of ?Dancing With the Stars? and MTV?s ?Laguna Beach? and ?The Hills? fame, visited the home with camera crews for season 5, episode 14 of ?The Hills,? according to mtv.com.

Carved into a 3.17-acre pad on the hillside, the contemporary-meets-craftsman style residence features a pool, a spa, a dry sauna, a steam sauna, a yoga studio, a media room, Feng Shui certified design and more. The 7,100-square-foot floor plan offers open concept spaces for entertaining throughout
 
morekaos said:
Looks like them "Hills" are not filled with gold...

Reality TV star?s family home foreclosed in Laguna Beach

The Laguna Beach family home of reality TV star Kristin Cavallari was foreclosed on about a month ago, according to public records.
Sitting high atop the hillside in South Laguna?s gated Three Arch Bay community, the property at 96 Vista Del Sol sold to OneWest Bank Feb. 27 for $6.11 million, records show
In early 2009 the property was listed for as much as $13.95 million, according to Register records and the Multiple Listing Service.

This sprawling ocean-view home even made a TV cameo. Cavallari, of ?Dancing With the Stars? and MTV?s ?Laguna Beach? and ?The Hills? fame, visited the home with camera crews for season 5, episode 14 of ?The Hills,? according to mtv.com.

Carved into a 3.17-acre pad on the hillside, the contemporary-meets-craftsman style residence features a pool, a spa, a dry sauna, a steam sauna, a yoga studio, a media room, Feng Shui certified design and more. The 7,100-square-foot floor plan offers open concept spaces for entertaining throughout
Click to expand...

Hahaha. I'll bet this pleases Kristin's frenemy Lauren Conrad.
 
When concentrations and hubris can bring a guy to his knees....

http://www.dailymail.co.uk/news/article-2154564/Halsey-Minor-tech-guru-files-bankruptcy-ruined-Carters-Grove-estate.html#ixzz1wvUuYy00

The tech guru who lost his entire fortune investing in lavish real estate... and his bankruptcy may have ruined one of the most historic homes in America

It is the story of how one man made it all, lost it all and all but ruined one of the most historic houses in America.
Halsey Minor?s four-and-a-half year reign in charge of Carter?s Grove is now over but in its wake are a trail of debts -- and the end of a tech guru?s dream.
Once worth $400million Minor now owes $12million including $10.5million to the state of California in unpaid taxes, making him its no.1 tax avoider.

 
morekaos said:
morekaos said:
Is it possible this house is cursed?  First Nic Cage loses his buns and has to sell and now Jerry Herbst (Terrible Herbst) is selling everything (including this house) to hide assets as his casino investments drag them under.

http://www.lvrj.com/business/terrrible-herbst-owner-selling-newport-beach-home-92909849.html

http://www.redfin.com/CA/Newport-Beach/2692-Bayshore-Dr-92663/home/3246083
Click to expand...

It just gets worse..

http://lansner.ocregister.com/2011/03/02/nic-cage-house-selling-18-below-record-price/101381/

Nic Cage house selling 18% below record price

A Newport Beach mansion formerly owned by Nicolas Cage is now selling for $6.5 million less than the record $35 million that the movie actor got when it sold it three years ago.

The waterfront home, located on Bayshore Drive with a clear view across the channel, fetched the highest price ever paid for an Orange County home when Cage sold it in January 2008 to Jerry Herbst, owner of the Las Vegas-based Terrible Herbst chain of gas stations and casinos.

Herbst, who paid Cage $35 million, is now asking $28.5 million for the home, or 18.6% less than what he paid.

The price cut may be a barometer for how much prices for trophy homes have come down during the ongoing housing slump. Agents say that price reductions have been commonplace across the board for high-end homes of all types.
Click to expand...

I don't care how much money you have...$10 million is $10 million.

http://lansner.ocregister.com/2012/09/14/did-nic-cages-mansion-sell-after-10m-price-chop/166345/

Nic Cage?s mansion sold after $10M price chop

NEWPORT BEACH ? The 8,300-square-foot Newport Harbor mansion that actor Nicolas Cage sold nearly five years ago for a record $35 million sold again Thursday after the price was reduced by $10 million.

Listing agent Rob Giem, who represented both the buyer and the seller in the deal, confirmed the transaction, saying there were multiple offers on the property.

Giem declined to divulge the sale price or to say who bought the home,  but confirmed it wasn?t a Chinese entrepreneur who tried to buy it last year. The seller was Jerry Herbst, owner of the Las Vegas Terrible Herbst casino and gas station chains.

The property?s sale could provide one measure of how much trophy home values have deteriorated in Orange County. According to Giem?s website, the property last listed for $24.95 million, or more than $10 million below the record $35 million paid for it in 2008.

 
Even GOD won't save man from himself...

http://lansner.ocregister.com/2012/09/19/former-crystal-cathedral-pastor-defaults-on-home/166444/

Former Crystal Cathedral pastor defaults on home

The Rev. Robert A. Schuller ? former senior pastor of the Crystal Cathedral and the son of Crystal Cathedral founder Robert H. Schuller ? is one of the latest homeowners to feel the effects of the nationwide housing crash.

With a foreclosure sale looming in November, Schuller is seeking bank approval to sell his Laguna Beach house ?short? ? that is for less than the $1.66 million he owes on two mortgages on the home.

A foreclosure auction at the Orange County Central Courthouse has been set for Nov. 2, but Schuller said he has a buyer and is just waiting for the bank to decide whether to accept the purchaser?s offer.

?I?m short-selling my house. I have more loans than I can sell the house for,? Schuller said in a phone interview. ?The house will not go into foreclosure. It will be a short sale.?
 
morekaos said:
morekaos said:
morekaos said:
Is it possible this house is cursed?  First Nic Cage loses his buns and has to sell and now Jerry Herbst (Terrible Herbst) is selling everything (including this house) to hide assets as his casino investments drag them under.

http://www.lvrj.com/business/terrrible-herbst-owner-selling-newport-beach-home-92909849.html

http://www.redfin.com/CA/Newport-Beach/2692-Bayshore-Dr-92663/home/3246083
Click to expand...

It just gets worse..

http://lansner.ocregister.com/2011/03/02/nic-cage-house-selling-18-below-record-price/101381/

Nic Cage house selling 18% below record price

A Newport Beach mansion formerly owned by Nicolas Cage is now selling for $6.5 million less than the record $35 million that the movie actor got when it sold it three years ago.

The waterfront home, located on Bayshore Drive with a clear view across the channel, fetched the highest price ever paid for an Orange County home when Cage sold it in January 2008 to Jerry Herbst, owner of the Las Vegas-based Terrible Herbst chain of gas stations and casinos.

Herbst, who paid Cage $35 million, is now asking $28.5 million for the home, or 18.6% less than what he paid.

The price cut may be a barometer for how much prices for trophy homes have come down during the ongoing housing slump. Agents say that price reductions have been commonplace across the board for high-end homes of all types.
Click to expand...

I don't care how much money you have...$10 million is $10 million.

http://lansner.ocregister.com/2012/09/14/did-nic-cages-mansion-sell-after-10m-price-chop/166345/

Nic Cage?s mansion sold after $10M price chop

NEWPORT BEACH ? The 8,300-square-foot Newport Harbor mansion that actor Nicolas Cage sold nearly five years ago for a record $35 million sold again Thursday after the price was reduced by $10 million.

Listing agent Rob Giem, who represented both the buyer and the seller in the deal, confirmed the transaction, saying there were multiple offers on the property.

Giem declined to divulge the sale price or to say who bought the home,  but confirmed it wasn?t a Chinese entrepreneur who tried to buy it last year. The seller was Jerry Herbst, owner of the Las Vegas Terrible Herbst casino and gas station chains.

The property?s sale could provide one measure of how much trophy home values have deteriorated in Orange County. According to Giem?s website, the property last listed for $24.95 million, or more than $10 million below the record $35 million paid for it in 2008.
Click to expand...

My mistake....it was worse.

http://lansner.ocregister.com/2012/10/01/seller-of-nic-cage-house-took-13-million-loss/166693/

Seller of Nic Cage house took $13 million loss

The Newport Harbor mansion that actor Nicolas Cage sold in 2008 for a record $35 million changed hands last month at a 37 percent discount, county records show.

The waterfront home was sold on Sept. 13 for $22 million ? a $13 million reduction from its last sale price, which was the highest amount ever paid for a single-family residence in Orange County.

The price is $3 million less than the amount Cage paid for it in 2005.
 
From the article:

"Cage bought the home on Bayshore Drive in July 2005 for $25 million. But he moved out after waking up to find a naked intruder next to his bed eating a Fudgsicle."

Stay classy, stalker.

-IR2
 
I don't know it this is owned by a celebrity but it is cool to look at...
http://www.dailymail.co.uk/news/article-2217781/Gauche-Bel-Air-mansion-discounted-25-million-40-million-asking-price-proved-steep.html

Bargain in Bel Air after 15-bedroom chateau drops $15 million from value (but price tag is still $25m)

Chateau d'Or, a 26,000-square-foot Bel Air mansion, has slashed its sale price from $40 million to $25 million.

http://www.redfin.com/CA/Los-Angeles/10425-W-Sunset-Blvd-90077/home/6827138
 
Price dropped another $2.5 million to $22.5m. It's very funny to see Redfin's rebate for this property - $244k.

morekaos said:
I don't know it this is owned by a celebrity but it is cool to look at...
http://www.dailymail.co.uk/news/article-2217781/Gauche-Bel-Air-mansion-discounted-25-million-40-million-asking-price-proved-steep.html

Bargain in Bel Air after 15-bedroom chateau drops $15 million from value (but price tag is still $25m)

Chateau d'Or, a 26,000-square-foot Bel Air mansion, has slashed its sale price from $40 million to $25 million.

http://www.redfin.com/CA/Los-Angeles/10425-W-Sunset-Blvd-90077/home/6827138
Click to expand...
 
Well, you knew this was coming but I'll report it anyway...

http://www.nypost.com/p/news/local/bank_hot_at_lindsay_g8htYDMN2JVtaAC57OzaaL

Bank $hot at Lindsay
Foreclosure notice

A process server slapped Lindsay and Dina Lohan with court papers yesterday ? part of Chase Bank?s years-long battle to foreclose on their Long Island mansion, sources said.

The server tacked the court papers on the front gate of the troubled star?s childhood house in Merrick, where Dina and Lindsay brawled in October.

The court documents ? which a source said names both Lindsay, 26, and her mom, Dina, 50 ? were inside an envelope marked simply: ?Important Information Enclosed.?

The deliveryman confirmed to The Post that he was a process server and that the papers were related to a ?Chase Bank? mortgage issue.
 
http://www.accessatlanta.com/news/entertainment/celebrity-news/allen-iverson-loses-atlanta-mansion-in-foreclosure/nWHFw/

Allen Iverson loses Atlanta mansion in foreclosure

By Fran Jeffries

The Atlanta Journal-Constitution


Former NBA star Allen Iverson?s has lost his fabulous Atlanta mansion to foreclosure.

Iverson?s nearly 10,000-square-foot home off West Paces Ferry Road had been on the market for $2.5 million, according to Nelson?s News on wsbtv.com.

Iverson, his wife Tawanna, and five kids lived in the home he built in 2009. But he and his wife recently divorced. He retained ownership of the house in the divorce decree and was trying to sell it, according to Nelson?s News.

Robert W. Scholz, of the Atlanta law firm Evans, Scholz, Williams & Warncke, confirmed the house was sold Tuesday on the courthouse steps back to Georgia Primary Bank.

Iverson built the home, which features six bedrooms and six full baths, for $4.5 million four years ago. He made some interesting modifications.

?They actually turned one of the bedrooms upstairs into a closet, a complete dressing room, absolutely incredible, all custom built-ins,? Beacham & Company realtor Troy Stowe told Nelson?s News. ?There were some areas in the closet that could house up to 100 pairs of tennis shoes. It is absolutely incredible. Over-the-top.?

The former star baller spent time in Philadelphia, Denver, Detroit and Memphis during his 14-year NBA career.

On Tuesday, a judge awarded custody of the couple?s children to Tawanna Iverson. Allen Iverson has some visitation rights if he abides by certain conditions, many of which have to do with tending to what the decree calls ?an obvious and serious alcohol problem,? according to TMZ.com.
Click to expand...
 
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