First it was Jay-Z and Beyonce; now it’s Justin Bieber who’s rumored to be interested in buying Neverland Ranch, former estate of the late Michael Jackson. Bieber, who can’t seem to leave the house these days without getting into some kind of trouble complete with media circus and Twitter tirade, ostensibly seeks to remove himself from “Central LA.” He needs the peace and quiet of Neverland Ranch. Officially located at 5225 Figueroa Mountain Road in Los Olivos, the estate is about eight miles from Santa Ynez and approximately a 2.5 hour drive from L.A. Let’s go to video: youtube/watch?feature=player_embedded&v=S_0j2j9ka60 Neverland Ranch is almost as famous as those celebrities who’ve lived there, or seek to. When Michael Jackson took ownership, his personal expenses on the property were estimated to be between $16.5 to $30M. The estate includes swimming pools, a giant floral clock, multiple statues of children, two railroads and working trains, a petting zoo and amusement park. The latter was equipped with everything from a Ferris wheel and carousel to roller coaster rides and bumper cars. Inside the house, opulence abounded as well: a state-of-the-art theater, a 1 10,000-volume library and an enviable art collection once existed, all collected by Jackson. During the 2003 People v. Jackson trial, police searched Neverland repeatedly. Jackson released a statement he no longer felt at home there, and in 2006, the facilities were closed. Jackson’s financial difficulties came to a head when, according to Wikipedia, “On February 25, 2008, Jackson received word from Financial Title Company, the trustee, that unless he paid off $24,525,906.61 by March 19, a public auction would go forward of the land, buildings, and other items such as the rides, trains, and art.” This eventuality was averted when a private company assumed the loan, though Jackson still retained some ownership. After his death, media reported the Jackson family wished to bury Michael Jackson at Neverland, but this did not occur. Neither did a plan put forth by California Assemblyman Mike Davis in 2010 to purchase the land and turn it into a state park. Other failed plans: that Jackson’s children would buy the property, or that Lady Gaga would do so. Meanwhile, Neverland was abandoned, decaying spectularly, until Paris, Prince, and Blanket Jackson restored the property. Now it’s back on the market again, and Justin Bieber may soon be at the helm. What do you say, readers? Is this the sanctuary–the location of which is far from secret– that will bring calm to the troubled Bieb? Or will it just be an invitation for yet more fan frenzy and media attention? Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest. Follow Anna on Twitter: @AnnaMarieErwert JB/1D
Posted on: Thu, 15 Aug 2013 22:28:58 +0000
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