by Roberta Murphy (It is with sadness that we learned of Michael Jackson’s death due to a heart attack this afternoon, apparently at his Holmby Hills mansion. In the days ahead, many will be wondering about the fate of Neverland. Our prayers and kind wishes are extended to the Jackson family.) Over two years ago, we were speculating about the fate of Michael Jackson’s Neverland and wondered if it would…
No Luxury in Loss
In the blogging world, an absence of six weeks is almost unforgivable. But had I draped a black cloth over it on April 24, 2009 you might have understood. That’s the day my Dad and best friend, Bob Michelson, died in Encinitas, CA after a lengthy illness. It’s really tough to become an orphan when the last parent exits–especially if the relationship has been a close one. I shared this…
Top 10 Things to Buy Before Economy Recovers
by Roberta Murphy According to Forbes.com, now may be the best time to make some of those major purchases wise shoppers have been putting off for so long, particularly if one has the luxury of capital. The Forbes list: 1. Homes. Low prices fueled by foreclosures and short sales, coupled with low interest rates and possible income tax credits, make this an opportune time to shop real estate. 2. Cars….
Even Luxury Home Owners can be Victims of Fraud
by Roberta Murphy It’s a sad fact of life, but unscrupulous vultures are always ready to pick at the flesh of the most financially distressed–which more frequently these days includes the owners of luxury real estate. Over on our San Diego real estate blog we report that San Diego County District Attorney Bonnie Dumanis is asking San Diego Realtors to help her track down and prosecute real estate fraudsters operating…
10 Money Saving Tips–for even the Gucci Wallet
by Roberta Murphy Magic must be in the air. Even our middle son Eric — who has never, ever cottoned to bagged lunches — packed one the other day and probably saved at least $5. This college student works part time, but last week discovered the agony of having to pay $1,800 or so for a new bumper and rear quarter panel that met a brick wall when he was…
Spelling Mansion “Officially” for Sale
by Roberta Murphy In 2006, we reported that Candace Spelling, 63, and widow of the later Aaron Spelling, was shopping for a $150 million buyer for her Holmby Hills home: ….Candy Spelling, widow of the late Aaron Spelling, has quietly put their legendary 56,000 square foot, 123-room Holmby Hills mansion on the market for $150 million. Sources say the Westside Estate Agency (WEA) has the pocket listing and that the…
Refi for Real Estate Investors
by Roberta Murphy We now have the chance to read through the recent Stimulus/Spending Bill that was passed largely unread by our Congress. The earmarks and pork anger many, but there is good news on the real estate front: Owners of second homes and other real estate investments will now be able to refinance their mortgage loans if they are guaranteed or held by either FannieMae or FreddieMac–and if the…
Trump’s Baja Luxury Resort Fails
by Roberta Murphy Mexico is struggling with a number of serious problems, including failed real estate developments along the Baja coastline–just south of the San Diego border. From the northern tip of Tijuana’s coastline down to Ensenada, Baja beach areas are spotted with the rusting remains of failed high rise condo projects. And one of the biggest failures is the Trump Ocean Resort Baja just north of Punta Bandera, where…
A Temecula Wine Country Winner
by Eve Sieminski I’ve been visiting the Temecula Valley for wine tastings over the years–usually as a substitute for the richer (and more distant) wine experiences to be found along California’s Central Coast and the Napa/Sonoma wine countries. A couple of weeks ago, we had a visitor from Europe who wanted a California wine experience. Not having the time for a long drive North, we headed out to Temecula, just…
All Mortgages Are Now Assumable
by Roberta Murphy If I could be President Obama’s Mortgage Czar for just one week, the first thing I would mandate is that all existing mortgages become assumable. When starting my real estate career in Houston, Texas during the last century, it was not uncommon for buyers to assume or take over existing financing. In fact, it was a perfect way for the self-employed or those with dinged credit to…
