Marking another chapter in the saga of Terrell Owens' real estate woes, the former NFL star reportedly faces foreclosure on a condo that he owns in the Trump International Resort of Sunny Isles Beach, Fla.
Deutsche Bank is attempting to foreclose on the unit, GossipExtra reports. The wide receiver, who raked in over $80 million during his controversial National Football League career, took out a $1.4 million loan in 2006 to buy the unit, then priced at $1.75 million. But he stopped making his mortgage payments in the fall of 2011, GossipExtra says. See our gallery of another Trump International Resort unit to get a sense of just how swanky Owens' unit is:
Owens, who was released from the Dallas Cowboys following his repeated clashes with teammates, is no stranger to mortgage trouble. In the past two years the mercurial athlete has had to swallow four disappointing real estate hand-offs. Two of the football star's Dallas properties succumbed to foreclosure early this year. While one of the units sold at a sheriff's sale, Owens managed to offload another just before its auction date, The Dallas Morning News reports.
Prior to those transactions, Owens sold another Dallas condo in a short sale for close to a $1 million loss, and in 2010, he reportedly cut loose a Moorestown, N.J., property for less than half of the $3.9 million he paid for it.
As of February, his Atlanta home is still sitting on the market, GQ reported.
Owens' Florida unit has seen its value nosedive since the housing boom, plummeting from a purchase price of $1.75 million to $960,000 in assessed value, according to a recent appraisal of the property, GossipExtra reports. The home's severe decline in value is typical of real estate in Florida, a state which perhaps has suffered more in lost property value than any other in recent years.
Florida now appears to be leading a market resurgence, as can be seen in the gallery below.
Best Places to Buy a Home Now
Terrell Owens Faces 3rd Foreclosure This Year
The jury is in: Our beleaguered housing market has finally turned the corner, many experts say.
Not only are home prices beginning to edge up for the first time in months, but other indicators, like home construction and sales, are stronger than they've been in years. Still, with tight lending conditions and shaky employment, the progress is slow in most communities.
But not in these places.
There are actually markets that are steaming at full speed toward recovery. But with home prices still severely depressed, compared to 2006 levels, many properties remain ripe for the taking.
Keep clicking to see some of the best homes (as determined by Realtor.com) for sale in some of the hottest markets.
Year-Over-Year Median List Price Appreciation: 8.04 percent
Year-Over-Year Inventory Change: -47.36 percent
Home Location: Fort Lauderdale, Fla.
Price: $11.3 million
Sq. Ft.: 13,282
The quintessential enormous Florida mega-mansion, this home boasts 145 feet of canal waterfront, with quick access to the ocean. Its backyard has a pool and hot tub, a full service concrete dock, and an outdoor dining area with a summer kitchen.
Built in 2009, the home features all state-of-the art appliances. The kitchen has an oversize center island, a walk-in pantry and a separate butler’s pantry. The master suite features a sitting area, two walk-in closets and two master bathrooms.
This newly built, never-before-occupied home is located in the highly sought after Phillips Park community in Washington, D.C. It was built with energy-saving in mind, with Energy Star appliances, high-performance windows, insulated doors, energy efficient heating and cooling systems, and water-saving plumbing.
Year-Over-Year Median List Price Appreciation: 8.58 percent
Year-Over-Year Inventory Change: -29.15 percent
Home Location: University Park, Texas
Sq. Ft.: 6,561
This classic five-bedroom home with a stone exterior has some interesting and unique features. It has a two-story library, an Old World pizza oven, a wine vault, and an outdoor loggia with built-in grill.
There is a tiki bar with summer kitchen; a pool with a large, beautiful waterfall and a spa; two wrap-around decks (one on each floor); and the second floor deck has its own hot tub. There’s also a sound system wired throughout the house and lanai, which is also wired for a TV.
Its banquet-size dining room is perfect for entertaining, and its extreme kitchen is a chef’s dream. It features a Sub-Zero refrigerator, a Sub-Zero two-drawer freezer, large double oven, two dishwashers, ice maker, level-5 granite counters, a chef’s special area for preparing meals, and a walk-in appliance closet. And all with spectacular water views.
In the home's foyer, stone columns reach to soaring ceilings. The ceilings rise even higher in its family room, which has a granite fireplace and remote-controlled blinds. The home's pool area has a swim-up wet bar and includes 1,300 square feet of imported stone.
Year-Over-Year Median List Price Appreciation: 7.07 percent
Year-Over-Year Inventory Change: -48.35 percent
Home Location: Oakland, Calif.
Price: $2.2 million
Sq. Ft.: 3,717
Oakland's price appreciation over the last year has been relatively modest compared to some of our other picks. But the market's rapidly clearing inventory identifies the area as a promising investment opportunity. From its hillside perch in Oakland, this Tuscan-style stunner presides over San Francisco Bay. The interior features custom finishes, Venetian plaster, pecan hardwood floors and vaulted ceilings.
Year-Over-Year Median List Price Appreciation: 14.34 percent
Year-Over-Year Inventory Change: -34.16 percent
Home Location: Naples, Fla.
Price: $2.997 million
Sq. Ft.: 5,076
This palm tree-lined home nestles into a .60-acre lot blanketed with lush landscaping. Despite rising listing prices in the area, this home just got a price cut, with its ask now just under $3 million.
Year-Over-Year Median List Price Appreciation: 17.53 percent
Year-Over-Year Inventory Change: -36.87 percent
Home Location: Boise, Idaho
Price: $2.325 million
Sq. Ft.: 6,258
Boise's certainly a bright spot on today's sometimes-gloomy housing horizon, and if you dip into its sizzling market, you can bet on bagging a lot more space than you would in many coastal cities. That's the case with this Spanish-style, stucco beauty, which, beyond its 5.85-acre plot and 6,258-square-foot interior, offers elaborate finishes and decor.
Year-Over-Year Median List Price Appreciation: 11.54 percent
Year-Over-Year Inventory Change: -41.58 percent
Home Location: Orlando, Fla.
Price: $3 million
Sq. Ft.: 6,999
Orlando clocks in at a third on our list of the hottest markets out there. In the fast-recovering city sits this beautifully manicured property. The stone-built home is just over 10 years old and commands 1.27 acres of verdant landscape.
Amenities await wherever you go on this luxury property. Pictured here is a wine bar complemented by one of the home's pool tables. Outside there's a pool, boat ramp, slip and dock. Community amenities include a fishing pier, fitness center, golf course, playground and tennis courts.
Year-Over-Year Median List Price Appreciation: 24.32 percent
Year-Over-Year Inventory Change: -48.03 percent
Home Location: Miami Beach, Fla.
Price: $3 million
Sq. Ft.: 1,332
While foreclosure-saturated Florida has been walloped by the housing crash, the Miami-area market still costs a pretty penny per square foot. And considering that the market is really starting to heat up, local turf is not about to get any less expensive. If you're in a position to pony up $3 million, you can bag this swanky apartment.
Year-Over-Year Median List Price Appreciation: 26.94 percent
Year-Over-Year Inventory Change: -48.04 percent
Home Location: Phoenix
Price: $5.995 million
Sq. Ft.: 11,039
This French chateau rose shortly after the onset of the housing meltdown, and almost undoubtedly has seen its value tumble over the last few years in Phoenix's hard-hit real estate market.
But days ahead might be brighter for this 11,039-square-foot behemoth. Phoenix, like some of the other hardest-hit markets, is mounting a furious comeback. Realtor.com says prices have shot up nearly 27 percent in the last year.
The home's rear has a covered patio with fireplace that looks out on the property's expansive pool. Some of the home's notable amenities: a recording studio, spa, four-car garage, wine room, theater, guesthouse and giant master suite.
DeMarcus Ware is selling his English style home in a gated community near Dallas. In addition to regular luxuries expected in a multi-million dollar mansion, this home has a putting/chipping green, a cushioned turf yard with a trampoline, and a pool house complete with a game room.
See the listing for details.
Deion Sander's house spans over 29,000 square feet and is located on a 100-acre estate. It has an indoor basketball court and bowling alley, indoor and outdoor pools, a billiard room, a movie theater, and a game room.
This enormous estate embodies California's wine country lifestyle. It's 500 acre lot has a basketball court, a bocce ball court, a skeet shooting range, an olive farm, and a professional grade equestrian stable.
Pittsburgh Steelers QB Ben Roethlisberger's Gibson, Pa. pad.
Former Cleveland Browns all-star QB Bernie Kosar listed his Weston, Fla., estate in 2009 when he filed for bankruptcy. It is no longer on the market, and there are no reports of the home ever being sold.
NFL Hall of Famer Deion Sanders listed his penthouse in Dallas, Texas, for $7.5 million in early 2011. It's now on the market for $5 million.
The luxurious penthouse features stunning skyline views, a gourmet kitchen, floor-to-ceiling windows, and gourmet kitchen. Its private elevator leads to the terrace lounge with a wet bar, a full bath, and a private pool.
Smith's 9,967 sq. ft. home, valued at about $2 million, is located in the Dallas suburb of Addison.
Hall-of-Famer Jerry Rice lives in a $13.8 million six-bedroom home in Atherton, just outside of San Francisco. Its 16,000 sq. ft. interior includes three levels, including the lower level "play" area complete with game room, gym, wine room, wet bar, and crafts room. It also has an underground garage that parks seven cars.
Former Miami Dolphin Nick Buoniconti sold this home in Coral Gables, Fla., for $2.57 million earlier this year.
The four-bedroom home overlooks the 16th green of the Riviera Country Club golf course.
Hall of Fame Steelers QB Bradshaw's former greenside villa in Vaquero, Fla.