The Real Estate Wonk: Foreclosures of the rich and famous - Baltimore homes, apartments, real estate: Buying, selling, renting and housing news from reporter Jamie Smith Hopkins

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February 28, 2008

Foreclosures of the rich and famous

Sign of the times: Michael Jackson's Neverland spread is scheduled for foreclosure sale next month, and the 52-room mansion of Randolph Hearst's widow was recently auctioned off after failure to pay.

From Reuters:

Michael Jackson's famed Neverland Valley Ranch in California will be foreclosed and sold on March 19 unless the pop star pays a balance of nearly $25 million, property records showed on Tuesday.

Veronica Hearst, wife of the publishing heir, lost Villa Venezia in Florida this week. It went for $22 million, the Palm Beach Post reports:

The buyer is New Stream Capital, the plaintiff in the foreclosure action. It lent over the past two years slightly more than $40 million to Veronica Hearst, stepmom to famous kidnap victim Patty Hearst.

Posted by Jamie Smith Hopkins at 6:24 AM | Permalink | Comments (1)

Comments

Wonder if Trump will want to buy it now.

I have been to the Heast Mansion in San Simione or as they call it the ranch house absolutely beatiful and so nice it was given to the state and tours offered.

Posted by: Blue Ridge Cabin Rentals | February 28, 2008 9:51 AM

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About Jamie Smith Hopkins

Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
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