More Celebrity Real Estate Woes

Actor Nicolas Cage’s Bel Air mansion is facing foreclosure. The home was originally placed on the market for $35 million and was reduced to $17.5 million. With a mortgage of more than $17 million owed on the property, bids will begin at $11 million at the Pomona, Calif. courthouse.

In 1998 Cage purchased the property from singer Tom Jones for $6.469 million; and the owner before Tom Jones was Dean Martin. The mansion is 11,817 square feet and includes a media room, theater, wine cellar, six bedrooms and nine bathrooms.

Foreclosure is no stranger to Cage he lost two New Orleans properties last year for a total of $6.8 million.

To find out what is going on in Hoboken real estate market, please go to Hoboken Homes.

If you have been patiently waiting to buy a Hoboken home, now is the time to do it while the home buyer’s tax credit is still in effect. All of the key factors are in place to ensure that your home purchase will be a major, positive life changing event.  With low mortgage rates available, along with the recent passing of the new tax credits, this is the opportunity you have been waiting for. Please click on tax credit information for more details.  Make 2010 the year you purchase your dream home. For more information contact Eddie Perez, Broker-REALTOR, CDPE. Eddie’s market includes Hoboken, Jersey City, Weehawken and Union City.  Eddie can be reached at mailto:eddie@InvestHoboken.comor 201-344-2886

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Tags: Bel Air Mansion, Celebrity Real Estate, Foreclosure, Nicholas Cage

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