2008 and Celebrity Real Estate: Going, going, gone!

Published by julia | Filed under Celebrity Real Estate, Miscellaneous, Real Estate, Shout Outs

Wow, this has been a tough year for finances and real estate. When the lady next door has her home foreclosed on, many people think this is something that is common, for the commoner. But, what about the celebrity? They have lots of money and they must have paid for their home in full when they bought it, right? For some celebrities, the answer is no and their homes are on the auction block thanks to that fact.

American Idol is one of the most popular shows on television. Every January, people all over the world look forward to the new year of amateur talent hitting the airways. For one former American Idol this year is one that will not end with confetti and cheers. Fantasia Barrino just does not have the money to pay for her home and the banks, who never care about your celebrity status, are placing the home up for auction on January 12, 2009.

For Wyclef Jean it was not about the home he was living in, but rather the home he was building. In the middle of construction, money and lumber just stopped. The bank took over that property and it too will be sold on the auction block.

After more than 30 years of singing soul, Aretha Franklin has not learned the ins and outs of financial freedom. Thanks to tax bills that somehow got shifted under other more important papers, the Goddess of Soul may be facing that same block that Wyclef Jean and Fantasia have come to know.

Are homes the only real estate being hit this horrid financial year? No way! Lattrell Sprewell, a former NBA Knicks star, is keeping his home but the repo men have taken the yacht. Back taxes may be to blame for this lost real estate as well.

What is real estate anyway? Hillary Clinton, the appointed Secretary of State to take office in January, is dealing with some bills of her own. According to reports, the expensive campaign used to fight for the Presidential nomination is coming back to haunt her. She owes more than $6 million and she is fighting to earn that money before she takes office. While this is not real estate news, it sure is a hot topic right now.

The year 2008 has been hard for everyone from the corner store owner to the school teacher to the hot and flashy star. Hopefully, 2009 will be better for us all.