Beverly Hills

There were voices whispering that Brittany Murphy’s home will be foreclosed. It looks like the rumors aren’t true. More precisely, Brittany Murphy’s mother Sharon Murphy is in the process of selling her 8,000 square-foot Hollywood Hills home, and she claims that already has several ‘bonafide buyers’ so there will be no foreclosure auction.
In any case, the date for an auction has been postponed to February 14. and could be pulled off again as behind the scenes negotiations to sell the property continue.
“The trustee sale has been postpone and the seller is currently in negotiation with several parties regarding potential sale,” the statement issued on behalf of Sharon Murphy says.
The possibility of a short sale is pretty high, although this is kept silent.
The asking price for the Hollywood Hills property is $4.995 million and it’s handled by Aitan Segal of Rodeo Realty’s Beverly Hills office.
The house currently has a first mortgage of $4 million and a second one of half a million the real estate records say. It has been put on the market in March 2010 shortly after Brittany died, with an asking price of $7.5 million.

Category : Beverly Hills &Celebrities &Distressed Luxury Real Estate News

California’s financial situation is getting worse every day. Even if jobs will be created at a fast pace, it is likely to do very little for the housing market, simply because the jobs being added do not have in the income potential of the real estate heavy jobs during the housing bubble.
Home prices are down and even if the nationwide economy starts recovering, California is likely to face structural problems because of looming liabilities.
Now the luxury property located at 2600 BOWMONT DR, Beverly Hills, CA 90210 hit the market. The 10,000 square feet, contemporary medit masterpiece feature 7 bedrooms, and 8 bathrooms, and stunning views. The property was once estimated to almost $17 million and it hit the market with the $8.59 million price. This means 50% drop.

Category : Beverly Hills &Distressed Luxury Real Estate News

Late Ed McMahon, who died at the age of 86 last year, was a renowned Television actor who featured in ‘The tonight Show’ as Johnny Carson’s sidekick. He also hosted ‘Star search’. The famous actor was entangled in property and finance woes. Ed McMahon started facing foreclosure problems for his home within a short time of its purchase. In the year 1990, he purchased a home in Beverly Hills for $2.6 million and had it in the market for some years. In 2006, he saw the latest listing price for his home at $7.699 million. At that time he decided to sell it off but he was falling short of payment by $644,000 on a $4.8 million mortgage loan. Moreover, there were few takers for his home because Britney Spears’ home was in the neighborhood and attracted many media persons; this was a turn-off for most of the buyers.

His property was facing a risk of getting foreclosed. In the month of August, year 2008, a real estate tycoon Donald Trump declared that he will purchase Ed McMahon’s home from the financial company and lease it back to the actor to avoid foreclosure. To avoid a foreclosure on his home, McMahon instead entered into a deal with a private dealer whose offer fell through in early September. Then Donald Trump renewed his offer again to Ed McMahon to purchase the Beverly Hills home.

Ed McMahon was among the initial celebrities to in recent past to go through the public foreclosure. Hi financial defaults amounted to almost five million dollars as outstanding loans. Donald trump finally purchased his home and leased it back to him as a gesture of courtesy. All this time, his home was in the market for about two years. The case of Ed McMahon is considered as a classic example for celebrity home foreclosures. Many critics to this case believe that McMahon had spent a lot more than he could have afforded and that is why he was indebted to such an extent.

The long time that is involved in this case not only posed a threat to his brand name but also caused a great amount of mental tensions and worries to him. A professional was all he could have gone for. Hiring our services for short term sales to avoid foreclosures will solve your financial indebtedness problems quickly and with a great degree of secrecy about the whole transaction. Not every one is lucky to get help from sudden and unexpected sources like McMahon. Hiring our professional services to avoid foreclosures of your homes sounds a smart option.

Losing your home to a lender due to shortage of credit for the loan repayment can cause humiliation to person specially if he is a renowned person in his own field. Our short sale services not only saves your home from going back in the hands of the lender or the bank but also offers you confidentiality and no public exposure of the transaction. Save your name and your home by hiring our expert services.

Category : Beverly Hills &Celebrities &Luxury Short Sales