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During the filming of the new move “The Sorcerer’s Apprentice”, a movie starring Nicolas Cage, this past Monday Morning a brand new Ferrari F430 crashed into a Sbarro’s pizza restaurant in Times Square.
A Ferrari and Mercedes-Benz were involved in a chase scene late that night when the Ferrari slid out of control. Jeremy Fry, the driver, was apparently supposed to power slide the car around the corner and instead slid a bit too far and jumped a curb knocking over a pole and the entrance way to Sbarro’s pizza.
No one was seriously hurt but the condition of the brand new $200,000+ Ferrari F430 has yet to be released. Nicolas Cage stars as the lead role in the Fantasia inspired movie as, Balthazar Blake who travels to New York in hopes to find a new apprentice. The movie isn’t expected to be released until the summer of 2010.
Mr. Cage is no stranger to these parts. He owned home here in Malibu a few years back that sold in 2005 for $10 million. He then began a shopping spree of real estate b
uying a property on Paradise Island, Bahamas, a 40-acre island near Nassau, a medieval castle in Germany, as well as his most recent purchase, a 24,000-sqft country manor in Rhode Island. |
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As much as I love to be optomistic about everything going on in the real estate martket, I can not help but be a little bit shocked when I see a new listing for over 15M hits the market. It isn't that the agents representing these properties do not know what they are talking about, not at all, but it is that these properties are so completely over priced that it is as if the sellers simply make up a price. Currently there are 14 properties on the market over 15M on the beach, 2 of which have been listed in the last couple weeks. One is a little north of pepperdine, 33428 Pacific Coast Hwy for close to 17M represtented by Eytan Levin and the other is 21804 Pacific Coast Hwy for 65M represented by Stephen Shapiro. Regardless these places are beautiful and who knows, maybe they will actually bring up the market. Assuming these places actually sell... |
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New Law Closes Tax Loophole on Capital Gains |
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A popular tax-saving loophole regarding capital gains taxes some primary residences has been impacted by the recently signed 2008 Housing and Economic Recovery act. The law places new restrictions on wealthy homeowners who own two or more homes and plan to "house hop" to avoid paying capital gains taxes. |
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Read more... [New Law Closes Tax Loophole on Capital Gains]
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Iron Man's Point Dume Home |
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I had a very interesting client come in the other day. He was a man who had recently inherited a couple million dollars from his grandfather (typical in Malibu - haha). Anyway he was from South America and an extremely nice guy. I showed him around a couple of the big houses along PCH, but nothing seemed to be quite right. He said, and I quote "I really wanted a house like Iron Man's." |
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Read more... [Iron Man's Point Dume Home]
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Yes, there's been trouble in real estate paradise, and no matter the causes, the dramatic results have been experienced across the country. Before assuming that housing is a risky investment, please understand that owning a home offers countless advantages over stocks and other securities. |
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Read more... [Bricks Beat Paper!]
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