Even a Congresswoman has now been hit with foreclosure â twice! One of the more bizarre political scandals in recent years has hit local Congresswoman Laura Richardson. A fairly quiet week otherwise.
Celebrity Real Estate
Ted Danson and his wife, actress Mary Steenburgen, have sold a house in the Malibu Colony that had been on the market for about a year. The house was listed for $16.75 million, down from its original price of $18 million. Located at 23610 Malibu Colony Road, the house was completely remodeled in 2002. Danson and Steenburgen still own two properties in Marthaâs Vineyard and one in Ojai.
News
Long Beach, Compton, and Carson Congresswoman Laura Richardson (featured above) has become embroiled in the most high-profile foreclosure case yet to hit the headlines. Richardsonâs home in Sacramento, which she bought in 2007 while serving in the State Assembly, was sold at auction earlier this month. Richardson was sent multiple notices by her lender, but did not pay her mortgage payments or her property tax, resulting in a total debt of over $570,000, $40,000 more than she paid for the house. The house was apparently somewhat disheveled when the new owner took possession â the garage was full of trash and the lawn was overgrown. Lender Washington Mutual had to write off almost $200,000 in debt to get rid of the property.
The story might have faded quickly if it ended there, but it didnât. Richardson denied having had her home foreclosed, issuing an official statement which claimed she had renegotiated the terms of her mortgage and kept the property. When this was proven to be false, she claimed that the home had been improperly auctioned off and that she had received no notification from her lender.
More news emerged on Friday, when it was revealed that the Sacramento home was one of just three owned by Richardson on which she owed money. She had failed to pay property taxes on homes in both Long Beach and San Pedro and had defaulted on the San Pedro home, which was to be sold at auction until Richardson (for real this time) managed to get her loan renegotiated. Richardson says she will pay her property taxes and that this experience brings her closer to the plight many Americans are suffering with foreclosure. If only most people facing foreclosure were making $170,000 a year.
Estate of the Week
If youâve always wanted to own an English manor, but donât want to leave the L.A. weather behind (and have $23 million to spend), check out the estate at 825 Loma Vista Drive in Beverly Hills. The estate has plenty of choices for sports, with a tennis court, putting green, and pool, as well as a gym. Thereâs plenty of non-active stuff to do, too, so youâll never have to go mix with the rabble.
Events
There are no notable real estate events this week.
Laura Richardson photo via official site
Estate of the Week photo via MLS listing
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