Author: Diane Tuman

Great question in Zillow Advice from joneam3 from Stockton, CA:

How soon after paying off debt will your credit score be affected?

We’ve all done it: you have a extra toilet in the basement or in some other little-used area of the house. One day, it gets used and the toilet mechanism gets stuck. A few days later, you see the toilet was still running and you anticipate a higher-than-usual upcoming water bill. Maybe a few dollars — but, $1,274.07??

Such is the case for a woman in Redford, MI who discovered a toilet in her spare bathroom was on constant refill for a week, resulting in a water bill 40 times higher than normal.

Check those toilets!

(Photo courtesy CNN)

Jerry Rice, the former standout wide receiver who is best known for his playing days with the San Francisco 49ers from 1985-2000, is once again trying to sell his Atherton, CA home — this time for the same price as last time: $14,750,000.

Rice put the home on the market in 2007 for $22 million and it failed to sell. He then listed it again in 2009 for $14,750,000 and it didn’t sell. The reason for the sale is likely to finalize assets for Rice and wife, Jacqueline, who filed for divorce way back in 2007. The couple purchased the home in 1997 for $2,656,354.

The home is the ultimate in luxury. It has three stories and 15,000 sq ft of space, with an elevator and full security system. Plus, get this — it has an underground 7-car garage. There is the requisite pool, spa, outdoor stone fireplace and guest house on the 1.4-acre property.

> See more Atherton real estate

> See Atherton home values

Even the rich who can afford multi-million-dollar homes can pick over the foreclosure carnage left behind by the devastated real estate market. Except they can do it in style — by private jet instead of foreclosure tours by bus, or by boat.

The Wall Street Journal reported last week that Luxury Homes of Las Vegas and JetSuite Air are co-hosting a free “Luxury Home Foreclosure Private Jet Tour” from Los Angeles to Las Vegas this Saturday, April 17.

According to the press release, three bank-owned luxury estates in Vegas — all more than 10,000 sq ft — will be viewed from the air. The jet leaves LA at 10 am and returns at 6 pm. Only qualified buyers who show “…proof of funds and net worth sufficient to purchase a luxury home…” are welcome on the tour.

The homes:

• The first home (photo above) is located in Summerlin and is listed for $4,650,000. It’s 10,692-square feet, has 1.17 acres, seven bedrooms, 10 bathrooms and was listed at $9,200,000 in 2007.
• The second home is in the MacDonald Highlands and is listed for $4,900,000.  It has 12,872 sq ft, sits on a .53-acre lot, has six bedrooms, eight bathrooms and was listed at $6,200,000 in 2008.
• The third home is located in Promontory in The Ridges and is listed for $6,125,000.  It has 3,611-1 sq ft,  has a .74-acre lot, seven bedrooms, 11 bathrooms and was valued at approximately $10,000,000 at market peak.

Other foreclosure tours by air are planned from possible departure locales such as Orange County, San Diego, Phoenix, San Francisco, and Salt Lake City.

> See Las Vegas home values

Short sales is a hot topic on Zillow Advice, including this one from connect2house in Buena Park, CA:

Can I offer a lower price than what is being asked for a short sale house price?

Click here to view the embedded video.

You’re driving by an interesting home for sale, you power up your iPad and tap into your Zillow on iPad app to get an idea of what the interior looks like, and, well, I’ll let David Carr of the New York Times explain the rest:

“…here’s the thing, you pull up in front of a house and you go, “honey, that looks nice” and then you go in there and you look and you see their decorating tastes. Imagine being able to pull up in front of a house while you’re house-hunting — you’re on a 3G connection — and you see that it looks nice outside, in fact the Addams Family has been living inside that house and you don’t want to go in there.”

– Excerpt from interview on Charlie Rose Show about the iPad featuring Wall Street Journal’s Walt Mossberg and Carr.

It’s true — the Zillow on iPad app reveals stunningly clearly, large-format photos of homes for sale, for rent, and more. But, we can’t vouch for decorating tastes.

> See Zillow apps for the iPhone, iPad and Android in Zillow Mobile.

Today, Nicolas Cage’s Bel Air mansion will be auctioned off, according to Stewart Penn of Penn Properties. The minimum bid is $11,000,000 for a home that Cage bought from singer Tom Jones in 1998 for nearly $6.5 million. And to add to the home’s pedigree, it was also once owned by actor Dean Martin.

Cage has listed this home several times — once, for as much as $35 million, then $29,999,000, then $17.5 million. More than $17 million is owed on the property.

The actor’s financial woes are no secret. The actor Cage foreclosed on his two beloved New Orleans homes last November and his former Vegas home sold for half of his purchase price in January.

Cage is suing his former business manager, Samuel Levin, for mismanaging his fortune, but Levin claims he warned Cage about his lavish spending, which included the purchase of two castles, 15 mansions, several yachts and Rolls Royces.

> See more celebrity foreclosures.

We can’t resist. We have sports fever, so we’re kicking off April with a lineup of sports star homes. Baseball’s 2010 Opening Day began with a bang, featuring a matchup between one of the game’s most intense rivalries: the NY Yankees and Boston Red Sox.

But, that TV viewership will be nothing compared to this week’s Masters tournament, which features the return of Tiger Woods, who fell from grace over some admitted “transgressions.” It all started last Thanksgiving during Tiger’s early morning car crash into his neighbor’s tree.

See homes of some famous sports stars:

Alex Rodriguez (3rd baseman, NY Yankees)

Alex, or “A-Rod,” plays on one of baseball’s always-in-the-hunt teams, the NY Yankees. And, as baseball’s highest-paid player, A-Rod can afford some nice real estate, including this Coral Gables, FL home that he has been trying to sell since 2008. (Read more about A-Rod’s Coral Gables, FL home).

181 E Sunrise Ave, Coral Gables, FL 33133 (Below)
For Sale — $9,999,999
> See more photos of 181 E Sunrise Ave, Coral Gables, FL 3313
> See more Coral Gables real estate
> See Coral Gables home values

Greg Norman (Professional golfer, retired)

This Aussie is known as the “Great White Shark”  — a nickname he earned for his aggressive golf play en route to amassing millions during his 34-year professional career. Norman is trying to sell two multi-million properties in Florida and Colorado. (Read more about Norman’s Jupiter Island home and Norman’s Colorado home).

382 S Beach Rd, Hobe Sound, FL 33455 (Below)
For sale –$65 million
See more Jupiter Island real estate
See Jupiter Island home values

Greg Norman’s Colorado home:
11808 County Road 8, Meeker, CO (Below)
For sale — $55 million
> See more photos of 11808 County Road 8, Meeker, CO
> See more Meeker CO real estate
> See Colorado home values

Tiger Woods (Professional golfer)

Tiger Woods has been the dominant men’s golfer in the past decade, but those accolades have been replaced by headlines of Tiger’s admitted “transgressions.” This is Tiger’s Isleworth, FL home where his early morning drive quickly ended in a car accident on his next-door neighbor’s property when his SUV ran over a fire hydrant and into a tree. (Read more about Tiger Woods’ home, hydrant and tree).

S 6348 Deacon Circle,  Windermere,  FL 34786 (below)
> See more Windermere real estate
> See Windermere home values

Andy Roddick (Professional tennis player)

Here’s another A-Rod who is known for his blistering first serve, beefcake image and marrying Sports Illustrated swimsuit model Brooklyn Decker. Since he married her last year, his bachelor pad is now available. (Read more about Andy Roddick’s home).

4104 Shimmering Cv, Austin, TX 78731 (Below)
For sale — $4 million
> See more photos of Andy Roddick’s home
> See more Austin real estate
> See Austin home values

Pete Sampras (Professional tennis player, retired)

Sampras has been one of tennis’ domineering players for the past 15 years, gathering 16 Grand Slam titles and $43 million in prize money and with it, he purchased some real estate. (Read more about Pete Sampras’ Thousand Oaks, CA home).

390 W Stafford Rd, Thousand Oaks, CA 91361 (Below)
For sale — $25 million
> See more photos of Pete Sampras’ home
> See more Thousand Oaks real estate
> See Thousand Oaks home values

> See MORE SPORTS STAR HOMES
> Read about Jennifer Capriati’s home — For sale $2.1 million
> Read about Thomas Hearns’ home — Facing foreclosure
> Read about Deion Sanders’ home — For sale $7.5 million

Last November, we reported that the Cerda Family listed their Extreme Makeover home in Las Vegas for $500k. Well, the Cerda home recently sold — for $317k. Although this article says they originally listed it for $330K, it clearly was listed as high as $600k at one time. This sale turned out to be a nice home and a nice “deal” for someone.

> See more Centennial Hills real estate

> See Las Vegas home values

Whether Scott Baio likes it or not, he will forever be known as “Chachi,” the lovable sidekick to Fonzie in the comedy series “Happy Days.” But that was TV and this is reality: Baio and his wife, Renee, are selling their Encino, CA home for $2,895,000.

According to Real Estalker, Baio purchased this home in 1994 for $1,345,000. Described as a “Spectacular Celebrity Owned Estate!” it is a 4,403-square foot, privately gated single story home located south of Ventura Boulevard. Inside are four beds, four and one half-baths, three fireplaces, formal living and dining rooms with high ceilings and a family room. A gourmet kitchen has a breakfast room and views of the rear grounds. A spacious master bedroom has a fireplace and walk-in closets and the master bath has dual sinks and separate tub and shower. The secondary bedrooms each have their own bathroom.

A private back yard features lush lawns, gardens, an elevated pool, gazebo with projector and flat screen TV’s, barbecue area, koi pond, and tennis court.

> See more Encino real estate

> See Encino home values

Attention golf lovers: We found your dream property: Porcupine Creek estate in Rancho Mirage, CA.

Porcupine Creek is situated on 249 acres, which includes its own, private 19-hole golf course (an extra hole for playoffs) and it’s for sale for $75 million by Christie’s Great Estates. The course has been listed by Golf Digest as a top 15 course in California. But, before anyone gets excited about buying it and turning it into a revenue-producing business, there’s a little hitch: the original agreement for the development states “…no commercial use shall occur on the property.” Oops.

According to the Wall Street Journal, the creators/visionaries of Porcupine Creek are the now-divorced Blixseths — Tim and Edra — who built Porcupine Creek together (in the late 1990s). It was among their many real estate investments, which included the highly exclusive Yellowstone Club in Montana where members had to pay $250,000 to join the club, pay $16,000 a year in dues, buy at least one lot (priced from $650,000 to $2 million), and then build a home on it. Edra got Porcupine Creek as part of the 2008 divorce proceedings, but the economic downturn has forced Edra to declare bankruptcy, and put Porcupine Creek on the market.

Although Porcupine Creek was their private residence, it was the site of charity events, and golf tournaments for big-money friends and acquaintances.

Main house:

The 18,430-square-foot main residence was inspired by a Mediterranean villa and is distinguished by two rotunda-like structures that bookend the exterior. Decor includes hand-painted ceiling murals, antique stained-glass windows, towering fireplaces, and walls of windows that look out to the green valleys below.

• Master suite with his-and her bathrooms and offices
• Guest suite with kitchenette and office
• Sunken great room with floor to ceiling windows
• Commercial kitchen
• Children’s wing with two bedrooms, playroom and nanny’s room

Golf course:

• 18-hole golf course (plus a playoff hole)
• Driving range
• Clubhouse
• Full spa and gym
• Pool area with palapa bar, commercial kitchen, waterslide, and spa with in-ground champagne holder
• Outdoor party grotto with stage
• Children’s play area with circus carousel

Other buildings:

• Four 600-square feet casitas (all have main room with king-sized bed and seating area, full bath and kitchenette)
• Four 1,860-sq ft guest houses (2 beds, 2 baths, living room with fireplace, wine closet and kitchen), with outdoor patios

> See more Rancho Mirage real estate

> See Rancho Mirage home values

This Knights Ferry, CA home, called “Casa Estrella,” has been making the rounds in the blogosphere lately and I’ve never seen such gorgeous marketing for a home. Look at images of the home and the video. It truly is a piece of living art. Knights Ferry is pretty cool, too. It’s about 40 miles east of Modesto and is the locale of a ranch that was used in filming TV shows such as “Bonanza” and “Little House on the Prairie.”

> See more Knights Ferry real estate

> See East Oakdale home values

Malibu’s proximity to L.A. and gorgeous, select access to the Pacific Ocean draws many celebs seeking privacy and solitude, but one celeb is apparently done soaking it up. Singer/songwriter Josh Groban has listed his Malibu home for $6.1 million.

His 3,294-square foot Tuscan-style estate is located in the Point Dume area of Malibu where it has private beach rights. Enter a double-gated entry and a long drive back to the 1.8-acre estate which includes a separate guest house, recording studio, pool with waterfall, lighted tennis court and many private patios. The main house features stone floors with inlaid tiles.

According to Big Time Listings, Groban said of the home, “When I first saw this place, my reaction was, ‘It’s like being on an instant vacation — I’ll take it!” He bought it in 2005 for $4,125,000.

> See more Malibu real estate

> See Malibu home values

From Temecula, CA comes a question in Zillow Advice by Messie1:

“My significant other and I are trying to buy. Our single income is approximately $90k. What can we afford?”

The ever-reliable Sunnyview suggests using the “How Much Can I Afford? calculator in Zillow Mortgage Marketplace, plus consulting with the lenders in the Zillow Advice Mortgage Discussion Board.

Make room for baby!

Reality TV personality Kourtney Kardashian is selling her Calabasas, CA home for $795,000, which is $34,000 less than the amount she purchased it for in 2006, reports Big Time Listings. Kardashian and boyfriend, Scott Disick, reportedly want a bigger home after they became parents to their first child, Mason, in December.

This three-bed, three-bath Calabasas home is in the gated community of Creekside. It has hardwood floors, granite countertops, stainless steel appliances, wine closet, marble bar, fireplace and vaulted ceilings.

> See Calabasas real estate

> See Calabasas home values

American rock icon Bruce Springsteen and wife, Patti Scialfa, sold one of their side-by-side homes in Wellington, FL to Chicago philanthropists Daniel and Ellen Podell Crown for $2.95 million, reports the Palm Beach Daily News.

Springsteen’s home that was sold is located in Equestrian Club Estates, which is a gated community for equestrian types. Does The Boss have a special affinity for equestrian activites? No, but Bruce and Patti’s daughter, Jessica, is evidently an equestrian prodigy. Who knew?

According to Real Estalker, Springsteen purchased the property in 2008 for $3.1 million, then, a few months later, Bruce purchased the home next door for $4.6 million. Although Springsteen got $2.95 million for the first home, he initially listed it for sale for $3.95 million. And, he bought it for $3.1 million, so he sustained a loss of $150,000.

> See more Wellington real estate

> See Wellington home values

(Photo of Springsteens courtesy Rolling Stone)

Just when you thought you have heard the last of Nadya Suleman (aka “Octo-mom”) comes word that she could be evicted from the home she occupies with her 14 kids.

Suleman leases this home from her father, who has a mortgage agreement with Amer Haddadin. Haddadin sold the home to Octo-mom’s father in March 2009 for $450,000 under these conditions: Monthly payments of $4,139, and a final balloon payment was due on March 10 to fulfill the entire $450,000 mortgage. Haddadin reports the last $4,139 payment was never made, as well as the final balloon payment. Now, Haddadin is planning on going to the courts to foreclose on the family.

> See more celebrity foreclosures

A great question just popped into Zillow Advice from the South Side neighborhood of West Palm Beach. The question from home384 is:

Can I dispute an appraisal as ordered by the bank?

Good question, home384! See the answer to that question and other refinance questions in Zillow Advice.

Former boxing champ Thomas Hearns might be in retirement, but he’s facing a new opponent: foreclosure.

According to the Detroit News, Hearns is past-due on taxes and mortgage payments, owing a total of $961,156. Just on Hearns’ home alone, he owes $512,965 and the bank has filed notice that his home is scheduled for a foreclosure sale on March 23, according to The Legal News (free subscription required to access article).

Hearns is an eight-time world champ whose 15-year pro boxing career spanned six different weight categories.

According to Hearns’ lawyer, the former champ is working on keeping the house and paying off his debts.

> See more celebrity foreclosures.

Heads up: If you’re in need of a new refrigerator or washer or dishwasher or other home appliance, you might want to buy one now under the “Cash for Appliances” program that is underway.

The savings could range from $50 to $250, depending upon the product being purchased, the purchase price, and other variables. Appliances that could qualify include:

• Boilers
• Central air conditioners
• Clothes washers
• Dishwashers
• Freezers
• Furnaces (oil and gas)
• Heat pumps (air source and geothermal)
• Refrigerators
• Room air conditioners
• Water heaters

When I saw this list, I wondered “What about clothes dryers?” Click on that link and you’ll see the answer. The biggest thing to watch out for is to make sure you purchase “a qualifying ENERGY STAR-appliance.”

Even though the money comes from the federal government through the “American Recovery and Reinvestment Act,” it will be handled on the state level and will run until 2012 or until states run out of money. For example, Iowa, Kansas and Minnesota have already spent their funds.

>> FIND YOUR STATE’S APPLIANCE REBATE PROGRAM

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> Let Uncle Sam Pay to Replace Your Drafty Windows

> Incandescent Light Bulb Ban in 2012

> Federal Tax Credits for Energy Efficiency