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Al Jolson Estate

Described as “Legendary Celebrity Estate with brand new glamour on over 2 flat acres,” this home for sale at 4875 Louise Ave., Encino, CA, has been owned by quite a lineup of celebrities. First off is Al Jolson, dubbed the “world’s greatest entertainer” during his time (1911-1950), and then it was owned by actress/singer Katey Sagal, Cheers gal Kirstie Alley, and actor Charlie Sheen. Not sure of the order of who owned it when, but this home sure has some interesting pedigree.

Another curiosity about the house is the address is on Louise Avenue, yet when you look at the parcel map below, only a tiny section of it actually fronts Louise Avenue; most of it rests on Palora Street. Weird.

Louise Street

The house is going for $9,790,000, in case you’re interested.

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Jeez, Louise! Louise Street Estate has Glamorous Past

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We have all heard of builders throwing in incentives when buying a home, and we are now hearing too much about the federal government  having to get involved as well.  What’s next?  I am starting to see a trend of local municipalities entering the incentive ring in an effort to stimulate housing sales and growth locally. 

I first heard of this last month when the village of Manhattan, IL began offering incentives for new construction, and now the local government of Harrisburg, PA is doling out $1,000,000 to first time home buyers. 

In Manhattan, if you buy a single family, new construction home before July 2009, you can quality for a rebate for up to $5,000.  If you buy a town home or condo, you’ll receive a $3,500 rebate.  The rebates will be financed through developer-paid building permits.  According to Tom Pahnke, the town’s building commissioner, the plan provides not only local stimulus, but also keeps community wide assessed property values higher than if the builders had to slash prices.  You can see the list of preferred builders (however, it is not necessary to use one of them, any new construction qualifies) and read more of the details at www.BuildManhattan.com

In Harrisburg, first time home buyers are the targets.  If you are buying your first home, you can qualify for up to $5,000 in down payment assistance and closing cost aid.  The Harrisburg city council actually allotted $2,500,000 to housing issues, with the remaining $1,500,000 going towards programs such as emergency shelters, demolition of blighted structures, and other charitable housing causes. 

Between the sellers, builders, local, state, and federal government programs – there are many assistance programs out there.  Make sure you do all your due diligence before going to the closing table. 

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Local Government Assistance – A New Trend?

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Strong odor + burned out trees = potential meth lab. This equation adds up to an alleged meth lab in this neighborhood in Houston. As reported on ABC13.com in Houston, this house is supposedly where the meth house is located and where one firefighter had to be rescued after being overcome by fumes. Neighbors are shocked at the reports and one commenter on Swamplot reports their own observations of this Oak Creek Village neighborhood. Below is a screenshot of the alleged home. Is it my imagination, or does it seem like the trees in front of the house are dead?

Excerpt from:
Meth Lab Found in Sedate Houston Neighborhood

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First Team Real Estate, one of Southern California’s finest real estate companies, is now in partnership with Zillow to display their property listings on our site.

First Team is the number one independent real estate company in sales in southern California. As such, they have taken proactive measures in today’s business climate to further increase their marketing presence, including the submission of their listings to Zillow.

First Team began operations in 1976 with 4 agents and have grown both in size and reputation. Today they have almost 1,850 agents with almost $5 billion in sales volume last year alone.  Good job team!

Welcome First Team! We are proud to be a partner.

If you too would like to create a feed to have your listings appear in front of Zillow’s monthly audience of five million  visitors, please visit www.ZillowFeeds.com to get started.  PS – We generated a million clicks to our listing partners last month!

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Zillow Welcomes First Team as a Listings Partner

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Michael Vick's dogfighting home

Former Atlanta Falcons quarterback Michael Vick, who was convicted in 2007 of bankrolling a dog fighting operation and is now serving a 23-month sentence in the federal pen in Leavenworth, Kansas, made headlines again today by filing for bankruptcy protection. Vick allegedly owes approximately $10-50 million to creditors.

Vick’s former Virginia home where the dogfighting occurred (photo above) is on the market for $995,000. Vick bought the home in 2001 for $35,000, then sold it in 2007 to an investor — reportedly for a tremendous below-the-market value of $450,000. It was to be auctioned off last December, but the bidding never rose to the level the investor liked, so here it is, on the market again. Vick’s home in Duluth, GA, (photo below) is also listed for sale by Funari Realty for $4,500,000 and it looks like it’s been for sale for a while.

Excerpt from:
Michael Vick Files for Bankruptcy

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Summer in New York is always hot, but things are really heating up as the NY tabloids are reporting that New York Yankee superstar Alex Rodriguez is being given the heave-ho by his wife, Cynthia, due to “emotional abandonment.” According to the New York Post, A-Rod has had his share of romantic dalliances and was recently seen visiting Madonna at her Central Park West apartment. Madonna’s apartment is in Harperley Hall, which is a 12-story, pre-war cooperative with 85 apartments.

According to Celebrity Mound, A-Rod is now house-huntinga few blocks away from Madonna in the luxurious San Remo apartments located at 146 Central Park West. The San Remo’s unique two-tower design is immediately identifiable from Central Park and counts Steven Spielberg, Dustin Hoffman, Glenn Close, Bono and Demi Moore among its former and present star-studded tenants.

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This week’s 98th edition of the Carnival of Real Estate is posted at Transparent RE! This week’s host was Pat Kitano, who put together a slideshow using SlideShare.net to highlight this week’s articles. Head on over and take a look!

The carnival will make its next appearance on Monday, July 14 at Lansner on Real Estate. Please submit your best post by Sunday July 13, to be considered. Are you a real estate blogger and would you like to host a future edition or take a more active role in carnival administration? If so, get instructions on how to do so here. Please check the complete FAQ list if you have other questions as to how to participate.

Originally posted here:
Carnival of Real Estate #98

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Last Sunday, approximately 2000 people, including about 35 Zillow.com employees, friends and family ran, walked, rode in strollers, and hobbled* in the 31st Annual Shore Run Walk 2008. This year we were led by Team Captain, Spencer Rascoff, Zillow CFO and his lovely daughter Sophia, but typically it’s David Beitel, our CTO, who leads the charge. David has been a supporter of the Hutch for years, so it’s no surprise the this is the third consecutive year Zillow.com was a sponsor. It fact, just months after our Beta launch in 2006, Zillow initiated its sponsorship of the 6.7K Run, and for the last two years has been the 5K Run sponsor. The Hutch is such a great organization and doing such important work, it’s hard not to want to support them.

If you’ve never come out for this event, I highly recommend you make every attempt to check in out next year.  Why?  First, it’s hard not to like the Early Detection Initiative for the Fred Hutchinson Cancer Research Center, and second, there is good reason the Shore Run is referred to as “Seattle’s Most Beautiful Race.” There are two separate beginning points for the races, with the 6.7K Run start at Seward Park and the 5K Run/Walk start at Leschi Park.  Both are scenic courses that wind through the neighborhoods and scenery around Lake Washington, through neighborhoods like Leschi, Madrona, Denny-Blaine and to the finish line in Madison Park. Even while sweating through the 5K Walk and hoping to finish before the 5K runners dash pass you by a second time, it’s actually easy to forget you are exerting yourself physically at all. It’s really a stunning stroll along the lake through some of the most beautiful neighborhoods and homes in Seattle, and actually I don’t think it’s a stretch at all to say past some of the most beautiful homes and neighborhoods in the world.

There are large and lavish homes, as you will find near most any waterfront area, but there are also homes that more of us have a shot at affording some day.  We noticed quite a few homes for sale and with Make Me Move (MMM) prices.  A few that caught my eye include this gorgeous condo for sale in Leschi overlooking the marina (one could imagine watching many sunsets from that balcony), then there was a charming 988 sq foot 1911 beach cottage, just steps from the lake with easy access for paddler-types, and in the “one can always dream” category is this 6800 sq ft home with a dock for your float plane (image below).

At the race finish area in Madison Park, people kicked back in the sun and listened to a 10 piece jazz band. I’m not sure who these guys were, but they definitely knew how play and we particularly enjoyed their solos, especially the ones by the baritone sax player. There were also free snacks and drinks to enjoy provided by Mad Pizza, totally delicious Dave’s Killer Bread being sliced and handed out by Dave himself. Talking Rain provided several kinds of interesting energy and vitamin drinks, and there was the usual assortment of fresh fruit, trail mix, white cheddar popcorn, and more.

While some of us were sunning and snacking, the “Kids Run” took place with 68 kids participating. Somewhat amusing is that the race was literally over before it began as most the kids were across the finish line before the race actually started –- apparently the kids were cued on by a balloon pop. Speaking of fun things for kids, check out the new playground at Madison Park. The play area and equipment is really something special since being recently renovated, courtesy of donations from the Friends of Madison Park.

*For those who care, the reference to “hobbled” is for those of us in the Wells Fargo Center building who walked down 46 flights of stairs last week in an emergency preparedness drill. Some of us were inspired by the Mom of General Counsel, Liam Lavery –- whose reach from far away Michigan extends quite effectively to Seattle. She sent Liam a copy of an article “How to Survive a Disaster” –- and the rest is history -– so read at your own risk. Personally, I find it highly alarming to realize at this stage of life that walking DOWN the stairs could be that strenuous, and that a week later my calves and quads are still emitting tiny screams when I actually use my muscles from time-to-time to do such useful things as walk to the kitchen for a snack. Therefore, I resolve to be in better shape next year and intend to do the 5K Walk in 40 minutes or less.

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31st Annual Shore Run Walk 2008

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It’s the afternoon before a 3-day weekend and perhaps you’re counting down the hours until you can fire up that bbq or go purchase some last-minute fireworks.  If you’re looking for something to do to kill the time, might I suggest Dueling Digs. Perhaps you’re day-dreaming about some kitchen remodeling ideas, or thinking about a bathroom remodel.  Well, you wouldn’t be the only one!  Below are the top viewed homes from today, as of 11:30 a.m. PST.  Don’t agree?  Cast your vote!

Top Exterior: Heavenly Ridge St, Thousand Oaks CA

Top Kitchen:Keats Lane, San Ramon CA

Living Area: West Highland Ave, Redlands CA

Top Bathroom: East Fox Chase Rd, Chester NJ

Top Bedroom: Hillhaven Ave, Tujunga CA

Top Yards & Garden: Picrus St, San Diego CA

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Killing Time with Home Improvement

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Confession: I have a small obsession with Julia Child. I recently read her biography, My Life in France, and have been trying to navigate myself around a handful of recipes within her famous cookbook, Mastering the Art of French Cooking. The only one I have perfected is the boeuf bourguignon (except I still can’t pronounce it).

Too bad I can’t afford her previous home.

After moving back to the United States from France, Julia and her husband, Paul, purchased this Cambridge, MA home and lived there for 40 years, according to the Boston Globe. Julia lived in the home until 2001, when she moved to a retirement home in California at the age of 89. The house is currently on the market for a cool $4.35 million, however you won’t get the full effect as the home has undergone a kitchen remodel. Why, you might ask? The kitchen was so epic, that it is actually now on display in the Smithsonian. So those of us who can’t afford to buy the home can still experience firsthand what may be the most famous kitchen in America.

*** Image courtesy of the Smithsonian

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Elk Grove, CA, with a Zillow Home Value Index (Zindex) of $292,500 at this writing, seems to have attracted a fair share of real estate known as pot houses or, indoor marijuana farms, according to an article in the San Jose Mercury News.

In 2007, authorities busted 3,713 indoor marijuana houses in the United States, 590 in California, according to DEA figures.

Evidently, occupants jerryrig the homes with growing systems to be a year-round harvesting operation for marijuana. Walls are ripped out, sprinkler systems installed, special lighting and electrical support rigged and chemicals and fertilizer brought in. As a result, the homes’ structural systems becomes compromised and the walls and foundation are exposed to possible mold contamination.

So, if you’re looking for homes for sale and see a real estate deal too good to be true, make sure you get the full disclosure of the home or hire an expert to sniff out the possibility that a home had a dual purpose.

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Real Estate Bargain: Pot Houses

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This week’s 4th of July Stars and Stripes edition of the Carnival of Real Estate (the 97th CoRE) is posted at Trulia Blog. There are 11 posts highlighted for your enjoyment — head on over and take a look!

The carnival will make its next appearance on Monday, July 7 at Transparent RE. Please submit your best post by Sunday July 6, to be considered. Are you a real estate blogger and would you like to host a future edition or take a more active role in carnival administration? If so, get instructions on how to do so here. Please check the complete FAQ list if you have other questions as to how to participate.

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Carnival of Real Estate #97

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This past January, banks and lending institutions started sending “Dear John” letters of sorts, telling borrowers their HELOC was being cancelled or frozen. And, just like that, the spigot of money was switched to the “off” position.

But, what if you were in the middle of a kitchen remodel, your house is torn apart and your cash flow to pay the contractor suddenly goes dry? This Wall Street Journal article, “Renovators in Limbo,” provides just that scenario for several families. Some people have other sources to draw from, but others need to save money the old-fashioned way — bit-by-bit — to finish the project.

The WSJ article provides some information on what to do if your credit line is frozen, or might be soon:

  • Look locally for funding
  • Look at resources that provide a broad range of loan sources, such as Zillow Mortgage Marketplace
  • Pay for full appraisals
  • Be proactive: Pull money from your HELOC before it freezes and stash it in an interest-bearing account until needed
  • Scale back your project or postpone it

Seriously, if you are looking for a HELOC, home equity loan or a mortgage, Zillow Mortgage Marketplace offers an innovative approach to borrowing. You, the borrower, can fill out a mortgage loan request form anonymously — no name, address, phone number or Social Security number is required — and you will get mortgage loan quotes returned to your private Zillow account. No one knows who you are. No one will call or e-mail you to pressure you. You are in control. It’s really a pretty cool approach to borrowing. Here’s more about how it works for borrowers.  Try it out– especially if you can’t stand looking at the sink sitting in the bedroom another day.

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Renovators Caught in HELOC Freeze

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Real estate is becoming stranger by the minute. Here’s a story that teeters on desperation: A single woman apparently posted a combo ad on Craigslist, looking for love and to sell her South Florida home. Eight years of the single life and a year of trying to sell her home has put Deven Trabosh over the edge.

Here’s how her ad appeared on Craigslist, in case it disappears prematurely:

Craigslist Ad:

Marry a Princess Lost in America
Create the Magic with this Fairy Tale Princess

Traveling Lady in immediate need of her Prince Charming, someone who wants to share & create magical moments, imaginations & fantasies for LIFE!!!

If you want to live the never ending dream and experience the real love, life and the romance you have always felt was a fairytale then this is the vibrant outstanding woman of your dreams!

To sweep this European Loving Lady off her feet send in your application right now

PROPERTY INFORMATION

Gated 24 hour manned community, Lush landscaping throughout the community & a newly updated clubhouse that offers swimming pools, hot tub, 4 tennis courts, 2 racket ball courts, sand volleyball court,children’s playground and a fitness center with brand new equipment,& more! It’s like living in a five star resort. This Dakotah model has a great room with vaulted ceilings and many windows that bring the outside in. This well maintained , impeccably clean home has neutral colors, Berber carpet, and upgraded tile. The 1ST floor master suite has a double entry door & a master bath with double sinks, a soaking tub & an over sized shower stall. There is also a 1st floor Powder room. The second floor loft/media room overlooks the great room and leads to the 3 full size bedrooms, full bathroom. An extended terrace overlooks the garden. This is a fantastic buy, in a great location.

Best of Both Worlds
Summers in Europe
Winters in Sunny Beautiful South Florida
Seller Facts:
Single family
4 beds
2.5 bath
2,000 sqft
Lot 5,227 sqft
Built in 2000
At-a-Glance Features:
Cable Ready
Ceiling Fan
Garden
Gated Entry
Hot Tub/Spa
Pool

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For Sale: Princess and Her South Florida Home

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Ernestine AndersonJazz great Ernestine Anderson, 79, a four-time Grammy nominee and Seattle resident, is another star to add to the celebrity foreclosure list. Anderson’s Central District home is at risk of foreclosure since she’s behind approximately $45,000 in fees and back taxes. A peculiar piece of this report is how Anderson got a loan with monthly mortgage payments of $5,000 when she’s existing on $1,000 a month in Social Security checks and occasional performances. Friends have put together a fund-raising campaign to try to help Anderson. If they can’t raise the funds in time, Ernestine Anderson’s house will be put up for auction on July 11. (Photo taken from her MySpace page.)

Updates on celebrity foreclosures:
Ed McMahon’s home: Mr. “Star Search,” who is facing foreclosure for his Mediterranean-style mansion Zestimated at more than $3.3 M, is now being sued by Citibank for outstanding debt.

Jose Canseco’s home: This former major league baseball star was recently forced to walk away from his L.A. home. The home sold in foreclosure for $2,635,152.

Whitney Houston’s home: This diva narrowly avoided foreclosure by hastily putting her Atlanta home on the market. It sold for $1.19M, not $1.88M (its market value in 2007).

Veronica Hearsts home: Like so many other Americans, Veronica Hearst has a bad case of negative equity. Her Florida home recently sold at a foreclosure auction for $23.5M, almost $8M less than she paid for it in 2000.

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Ernestine Anderson in Foreclosure Trouble

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