The date has finally been set, unless the situation drastically changes, Michael Jackson's Neverland Ranch will be sold at auction on March 19 becoming what is likely the country's most famous foreclosure. According to Fox News, Jackson received word Monday from Financial Title Company that unless he comes up with $24,525,906.61 by that date, a public auction will go forward in Santa Barbara in front of the county courthouse. The house and everything inside and around, personal property, the rides on the grounds, all of it is going.

Jackson hasn't been spotted at Neverland since June 2005. In that time he's lived in Bahrain, Ireland and Las Vegas among other pit stops on his global tour. It is assumed that Jackson will just do nothing and let the property go up for auction since he probably does not have the money even though he refinanced his $300 million loan from Fortress Investments with help from Sony Music, HSBC and Barclays Bank.

Jackson moved out of Neverland after he was acquitted of child molestation charges. He did pay around $600,000 in property taxes last month. If no one bids on Neverland then Fortress Investments will take possession of the property and will likely put it on the market through a Santa Barbara real estate agent.

UPDATE: CNN quotes a Jackson source as saying Michael is trying to work out the financing.

From the Real Estalker:
--The Desert House, the sleek and modern prototype for the deluxe prefabs created by starchitecture firm Marmol Radziner in Desert Hot Springs has been listed at $1.85 million.
--Did Scott Baio move to a five-bedroom house in Encino? The Real Estalker Mama reports that Baio and his wife, Peaches Renee Sloan, still occupy Baio's home on Royal Oak Road in Encino. It looks like the couple "bought" the new home on the show for reality drama's sake.
--Rande Gerber and Cindy Crawford are renting out a beach front four-bedroom home in Malibu for $22,500 a month.
--Rumors have been swirling that Britney Spears bought a new house in Hermosa Beach before she went into the hospital. The home in question appears to be owned by professional photographer Dani Brubaker (who recently took pictures of Britney and her children for OK Magazine) and it seems unlikely that Britney actually bought this home.
--Has billionaire Ron Burkle helped Michael Jackson save Neverland Ranch? Roger Friedman at Fox News has reported that Burkle might have intervened of Jackson's behalf to provide an extension to give Jackson time to refinance.
--Jennifer Aniston has moved out of the Malibu cottage she's been renting since 2005.
--Jermaine Dupri has listed a five-bedroom home in Atlanta, Georgia for $1.5 million. The listing is here.
--Melrose Place actor Grant Show has listed his three-bedroom house in the Beachwood Canyon for $1,995,000. The listing is here.
--Singer Dido has listed her house in the prestigious Bird Streets area of Los Angeles for $4.6 million. The listing is here.

From the Wall Street Journal's Private Properties:
--A Parisian home that once belonged to Impressionist painter Pierre-Auguste Renoir is on the market. It is out estate of the day later today.
--NBA point guard Baron Davis of the Golden State Warriors has sold a pair of adjacent condos in West Hollywood for $2.66 million.
--Investment banker Warren Woo has paid $20 million for a house in Los Angeles, plus $2 million more for furnishings.

From the NY Observer's Manhattan Transfers:
--A two-floor penthouse at 530 East 72nd Street which was lived in by Frank Sinatra and Mia Farrow and then by Andy Warhol's physician, Denton S. Cox is on the market for $5,995,000 and it's a real fixer-upper. The listing is here.
--Ex-F.B.I. Special Agent Ali Soufan, who now works for Guiliani Partners, and his wife just paid $1.7 million for a new Manhattan apartment.
--Stephen Drucker, House Beautiful's editor, and real estate agent Frank Newbold closed this month on a two-bedroom co-op at 125 East 74th Street for $1.45 million.
--Parker Posey, who late last year listed her apartment in an 1845 brownstone on East 10th Street near Third Avenue for $1.175 million, is in contract to buy a $1.35 million one-bedroom co-op at 30 Fifth Avenue.
--Salman Rushdie's ex-wife, 37-year-old Padma Lakshmi, the model-turned-Top Chef hostess paid $1,651,111 for a long, full-floor loft in Alphabet City.

From Berg Properties Big Time Listings:
--Wilmer Valderrama has sold a home in Tarzana for $1,750,000 after it had been listed for $2,250,000 and later reduced to $1,950,000.
--Rupert Murdoch has taken $2,000,000 off the asking price of his Long Island, N.Y. mansion, Rosehearty, reducing its listing price from $14,800,000 to $12,800,000. It was our estate of the day back in July.

From the NY Post's Gimme Shelter:
--A new record residential price has been set for the North Fork of Long Island. A 135-acre estate that includes a 19-acre vineyard has been sold for $19.5 million. The original asking price for Indian Neck Farm was $22 million when it went on the market in 2006.
--Edgar Bronfman Jr. and his wife, Clarissa, finally have taken possession of their 11-room co-op at 1040 Fifth Ave.
--Author and interior decorator Regina "Gigi" Mahon has paid just over $14 million for two condo apartments on the fifth floor at the soon to be completed Plaza.
--Polo-playing communications mogul Adam Lindemann has found a new oceanfront Hamptons hideaway in Montauk for $21.5 million.

From the LA Times Hot Property:
--Keith Yamashita, a high-powered business consultant, has listed his contemporary Manhattan Beach home at $3.449 million because he and his partner, Todd Holcomb, are planning to return to San Francisco, where their 10-year-old company, Stone Yamashita Partners, is based. The listing is here.

From AOL Real Estate:
--A list of America's richest counties.

From The Wall Street Journal's Private Properties:
--Saudi Arabia's Prince Bandar bin Sultan may not be selling his big $135 million Aspen home but he did sell another home in Aspen for $36.5 million. He has now sold half of the six contiguous Aspen properties he owned. The property sold, Star Mountain ranch, has a 15,000-square-foot mountain home on 67 acres. The buyer is Jeffrey Soffer, chairman and chief executive of Florida real-estate firm Turnberry Ltd.
--Ellen DeGeneres didn't get the $24 million she wanted for her Montecito estate,, shown above but she did make $20 million on the property she paid $15.75 million for. It was our estate of the day earlier this year.
--Investment banker Vikram Gandhi is asking $20 million for his Upper East Side town house, which is where Eleanor Roosevelt lived in her final years. The listing is here.

From the NY Post's Gimme Shelter:
--Socialite Anne Slater has sold her co-op residence at 998 Fifth Ave. for $18 million to Seagram's heir Matthew Bronfman.
--A new record closing price for a Harlem residence has been set $6.6 million. Real-estate investor Rodney Propp and his wife, Eleanor, are leaving their Park Avenue apartment for a Central Park-fronting, 5,500-square-foot condo at 111 Central Park North. The record will likely be broken soon, the building's three-level, multi-terraced penthouse - which was the Esquire "Ultimate Bachelor Pad" - is in contract for $8.5 million.
--A three-bedroom condo at the Plaza is available for $60,000 a month.

From the NY Observer's Manhattan Transfers:
Kathleen M. Waldron, an ex-Citigroup exec who became Baruch's president in 2004, was offered the A-line penthouse at Grand Madison, the 101-year-old ex-showroom at 225 Fifth Avenue that was turned into condos this year. But, according to school spokesman Jay Hershenson, Dr. Waldron didn't want the apartment, which the City University of New York closed on last month for $2.45 million.

From Celebrity Big Time Listings:
A 4,250-square-foot house in Los Angeles' Hollywood Hills that 1950s teen idol Bobby Darin once lived in has sold for $2,912,500 to hotelier Jason Pomeranc. The home was listed early this year for $3,689,000.
--The official numbers are in, Jamie Kennedy paid for $2.15 million for a 2,342-square-foot house in Los Feliz that had been on the market for $2.275, million.
--Soap opera actor Sebastian Roche, who recently paid $1,525,000 for a house in Venice, California has sold his 117-acre estate in upstate New York for $2.7 million.
--Singer Natalie Imbruglia has sold her Mediterranean-style house in the Sunset Strip area for $3.725 million. It was originally listed at $4.5 million.
--David Draiman, the lead singer of the band Disturbed, has sold his castle-like house in Northridge for $2,580,000. He bought in late 2005 for $2.535 million.
--Motley Crue bassist Nikki Sixx and his ex-wife, former "Baywatch" babe Donna D'Errico, have sold their six-bedroom, 5,269-square-foot house in Agoura, Calif. for $1,900,000. We covered this as our estate of the day when it was listed at $2.995 million.
--Marilyn Manson has sold his house in Chatsworth for $1,025,000. He bought the home in 2004 for $1,270,000.
--via the Wall Street Journal, Blink-182's Tom DeLonge has listed his house in Rancho Santa Fe, CA for $6.25million or $6.295 million depending on which source you consult. The MLS has it at $6.295 million. Apparently DeLonge is quite the buyer and seller in the San Diego county area and seems to have really great taste.

From the Real Estalker:
--More bad news for Michael Jackson. Not only is Neverland Ranch still looking at a January 19th foreclosure, Roger Friedman at Fox News has reported that according to the L.A. County Treasurer, the Jackson family home in Encino CA is in tax default to the tune of $16,283.10. Jackson is also the owner of record on this home and there is $4,000,000 mortgage on the five-bedroom property.
--Model Carolyn Murphy has put her Brentwood, California home on the market for $3.65 million. The Spanish-style home does not have a pool but it has a beautiful slightly bohemian feel. The listing is here.
--Actor Jason Biggs has listed his 1924 Beechwood Canyon home home. The charming and private three-bedroom home is listed at $1.549 million.
--The Real Estalker Mama delivers the delicious scoop on just how Ellen DeGeneres and Portia Di Rossi came to purchase the Beverly Hills home belonging to Max Mutchnick. The home was not listed, no brokers were involved, it was just love at first sight for the ladies and $30 million later it was theirs.
--Rumor has it that Orlando Bloom is painting his home black on the outside.
--Lost star Matthew Fox has put his four-bedroom Manhattan Beach home on the market for $2,275,000. Fox bought way back in 1999 for $800,000. Fox may have moved out a while back.
--Stevie Nicks may have sold her Arizona home for $3 million, it was our estate of the day earlier this year. Nicks may also be putting her Southern Colonial style house in Pacific Palisades on the market for $14 million. She reportedly bought the home in June of 2005 for $9,000,000 but wants to downsize and may also believe that the home is haunted.
--the Real Estalker highlights an article from Newsweek on the homes of the Presidential hopefuls. My, my they live well.

From the LA Times Hot Property:
--Frankie Muniz has listed his Sunset Strip home for $3.875 million. It is our estate of the day later today.
--Roamnce novelist Leigh Court and her husband, rock-and-roll tour producer Timm Woolley have put their 11-acre Malibu estate on the market for $2.95 million. The listing for the architecturally interesting home with views of the ocean and mountains is here.
--M.J. Diebold has bought a Beverly Hills home for close to $3 million. She plans to paint it pink and green to mimic the Beverly Hills hotel.
--A John Woolf-designed home in the Hollywood Hills once owned by comedian Paul Lynde has come on the market for $2.95 million. The property website for the classic three-bedroom villa is here.

We've been hearing rumors about this for a while but now it's official, Michael Jackson's Neverland Ranch is in foreclosure. The Implode-O-Meter has the November 5th, 2007 Foreclosure Detail Report for Santa Barbara county which shows that as of October 12, the King of Pop owes $23,212,963 on a $23,000,000 loan. Since his trial, Jackson has spent almost no time at the home, instead staying in hotels and rented homes around the world. It's unclear whether he can't pay the bill at this time, or just won't.

Jackson isn't the first celeb to face foreclosure, it's happened to Whitney Houston, Michael Madsen, Don Johnson and Courtney Love. This, however, is far and away the largest debt we've seen.



[via TMZ]

From the Real Estalker:
--Actors David Elliot and Nanci Chambers have put their Brentwood home on the market for $3.25 million. Have a browse at the virtual tour here.
--Ted Danson and Mary Steenburgen have put their five-bedroom house in Malibu on the market for $18.5 million (shown above). Peep the restrained splendor at the listing here.
-- The Real Estalker Mama takes on the case of Kevin Federline and finds him renting in Tarzana. He was previously in five-bedroom home that rented for $7,000 a month. He has moved on to a seven-bedroom home that is on the market for $3.2 million.
--And then she moves on to the task of chronicling the whereabouts of Michael Jackson. Apparently he has been in Las Vegas in a 16,000 square foot home he was leasing, then he was rumored to be looking for a vacation home in Maryland, and then the Las Vegas Herald said that he moved into a Las Vegas property that belongs to Prince Jefri Bolkiah of Brunei and may be worth $60 million.
--Nicky Hilton has bought a Hollywood Hills home that was listed for $2.995 million.

From Berg Properties Celebrity Big Time Listings:
--Chicago Cubs pitcher Kerry Wood has his house in Chicago for $1.525 million; Chicago Bears general manager Jerry Angelo has sold a Chicago condo for $762,500; Chicago Blackhawks right wing Martin Havlat has paid $835,000 for a condo in downtown Chicago and Chicago Blackhawks defenseman Duncan Keith has paid $655,000 for a condo on the north side of Chicago.
--Actress Cassandra Peterson, best known as horror movie host "Elvira," has paid $1.698 million to purchase a four-bedroom house in Silverlake. The virtual tour for this bright and beautiful home is here.
--Young actor Drake Bell has bought a 1929 Mediterranean home in Los Feliz which had been listed for $2,149,000. The listing is here. Lucky kid.
--Goran Visnjic has listed his Sherman Oaks home for $1.7 million. The listing is here.
--Actor/writer/director John Stockwell has sold his five-bedroom house in Los Angeles' Hancock Park for $3.55 million.
--Soap opera actress Michelle Stafford has paid $2.525 million for a home in Los Feliz.


From the Wall Street Journal's Private Properties:
--Fashion photographer Mario Testino has signed a contract on a New York City condominium for close to $6.3 million (we first heard wind of this deal last September). His apartment is in 40 Bond, a downtown-Manhattan project being developed by Ian Schrager that will also be home to Ricky Martin.
--Billionaire fund manager Charles Johnson has bought a home on a small island just off Palm Beach for about $15 million.
--The Palm Beach home of the late sportscaster Curt Gowdy has sold for $19.5 million. We covered it a couple of years ago when it was listed at $25 million.
--Martha Stewart has sold her Westport, Connecticut estate for $6.7 million which is 26% below the asking price.
--Hockey star Eric Lindros has put his penthouse in New York City's West Village on the market for $6 million. The listing is here.

From the NY Times Big Deal:
--The first buyer to officially close on an apartment at the Plaza is Giuseppe De'Longhi, the chairman of De'Longhi, the Italian manufacturer of fancy appliances. He paid $11.2 million in early June for a three-bedroom apartment on the 15th floor with sweeping park views.
--Moby has put his four-story tower apartment atop the El Dorado on the market for $7.5 million. It's our estate of the day later today.
--James Q. Whitman, the Ford Foundation professor of comparative and foreign law at Yale Law School has picked up the four-bedroom home owned by the actor Treat Williams for $5.7 million, 20 percent above the asking price.
--The highest sale in recent weeks was $29 million, paid by Daniel L. Nir, a hedge fund manager at Gracie Capital, and his wife, Jill E. Braufman for a 7,000-square-foot apartment, in one of the legendary Fifth Avenue prewar co-ops, at 4 East 66th Street.
--Guilliame Cuvelier, the creator of the Swedish vodka brand Svedka paid $13.4 million for a seventh- floor apartment at 30 East 71st Street, near Madison Avenue.

From the LA Times Hot Property:
--John Cleese has put Stalloreggi (the King's Stables),his Montecito home on the market for at $28 million. Check out the listing for the 16-acre property here.
--Jamie Kennedy has sold his Sunset Strip house for close to its $1.01-million asking price.
--A Beverly Hills home built in 2004 with five bedrooms and 8 1/2 bathrooms in 13,000 square feet has been sold by one philanthropist and purchased by another for $13.5 million.

Last time we followed Michael Jackson around he was traveling around Dubai and Bahrain. Now it is being reported that he has been enjoying a different landscape entirely, he has been holed up at Luggala Castle. The seven-bedroom castle has been the setting for many films. Michael Jackson has been spendhappy as usual. The beautiful Irish home costs 30,000 euros a week to rent and Jackson has already been there several months.

People magazine is reporting that Michael Jackson has closed the house at  Neverland Ranch in California and sent some of the employees home for good. Jackson, who has been hiding out in Bahrain since last year, owes hundred of thousands in back wages to Neverland employees. He has agreed to pay the money as well as penalties. It seem like it's only a matter of time before the house ends up on the market.