Foreclosures category archives

Financially beleaguered actor Nicolas Cage lost his two New Orleans homes to foreclosure yesterday:
1140 Royal St, New Orleans, LA 7011:

2523 Prytania St, New Orleans  LA 70130:

Regions Bank of Birmingham, AL, paid for $2.3 million for the Royal Street property (appraised at $3.5 million) and $2.2 million for the Prytania Street home (appraised at $3.3 million).
Quite [...]

September 2009 saw real estate values remain flat from the prior month (-0.1% change in the Zillow Home Value Index from August), but fall almost 7% from their values one year ago. That brings the national market down 21% from its peak in the second quarter of 2006, taking home values back to levels last [...]

Diane Wheatley of MoveUpProperties asks in Zillow Advice:
Foreclosure. vs Short Sale. Which is Better?
When you consider the tax consequences, future ability to purchase a home and the length of time involved for all, is there a true benefit to a short sale vs. a foreclosure sale?
Do you think you know the answer?

A New York City photographer, who is a Detroit native, and an architect plan on encasing one of Detroit’s 80,000 foreclosed homes in ice this winter to bring attention to Detroit’s growing economic crisis and housing downfall in an art project titled “Ice House Detroit.”
Detroit home values have taken a huge hit, dropping 23% year-over-year.
>>Scroll [...]

Toni Braxton just can’t get a break. After undergoing a very public bankruptcy in the late 90s and heart problems that developed after the birth of her second child, Braxton is facing possible foreclosure, according to TMZ.
Allegedly she owes $12,500 on her Century City, CA mansion. Toni is best known for her song “Un-Break My [...]

Here’s some startling news - in 2006, homes in the top tier of local home values made up 16 percent of foreclosures. Today homes in that same bracket make up 30 percent of foreclosures, according to new foreclosure analysis by Zillow Chief Economist Stan Humphries.
Watch Spencer Rascoff, Zillow COO, as he discusses this data on Bloomberg News.

No one likes mosquitoes (really, no one) and they just won’t quit. And their nastiness has another side effect related to real estate. Zillow VP of Communications Amy Bohutinsky wrote a blog post two years ago that foreclosures are helping spread the West Nile Virus since untended backyard swimming pools are the perfect breeding ground [...]

Celebrity foreclosures are becoming more frequent these days, but few have ties to large criminal cases.
Harvey Diamond, author of the best-selling 1980s diet book Fit for Life and father of recently arrested Beau Diamond, is currently in foreclosure on his $1.1 million Sarasota home, located at 8424 Midnight Pass Rd, Sarasota, FL. The St. Petersburg [...]

Some media outlets are starting to report that foreclosure rates in some states are starting to slow, the first sign of good news in the foreclosure space for a long time. Stemming the rate of foreclosures is a prerequisite for a turnaround in the housing market because it reduces the amount of new distressed inventory [...]

Cheronda Guyton, the Wells Fargo senior vice president who used a bank-owned Malibu house for parties, has been fired, according to Huffington Post. The home is located at 106 Malibu Colony Rd, Malibu, CA.  Guyton’s job was overseeing foreclosed commercial properties.
Previous owners of the property lost the home when they were financially devastated by Bernie [...]