Nick Antonicello, Director of Sales for Unique Homes, pointed out an interesting story to me last week in the Los Angeles Times Blog. You might have already heard about it, but I just want to put in my two cents about the whole affair.

Peter Viles, Senior Producer for Real Estate at LATimes.com, wrote in his blog entry that Donald Trump, possibly the best-known real-estate developer in the world, is seeking to buy Ed McMahon's mansion to save him from foreclosure.

In an even more bizarre turn of events, Mr. Trump now might be having some competition for buying Mr. McMahon's luxury home. That's according to a new blog post today by Ann Brenoff, author of the Los Angeles Times' weekly "Hot Property" feature.

As Mr. Spock would say, "Fascinating."

I have to agree with Star Trek's Mr. Spock; Ed McMahon's dilemma is fascinating. Photo copyright of culture.culte on Flickr.To be honest, I'm not sure what to make of this story. I mean, Mr. McMahon certainly seems like a good man who simply let his finances get out of control until he went from delivering oversized million-dollar checks to being unable to pay for his multimillion-dollar luxury property. His story just seems remarkable and bitterly ironic.

Since he went public with his mortgage troubles, it appears that Mr. McMahon will now be able to make it through this difficult experience fairly well. Competing offers on a house that's about to be short sold is pretty impressive, I think.

I guess, in the end, my point is: Is this justice? I mean, not everyone can be helped like this. Is Ed McMahon's celebrity status the main reason why he is receiving this attention and assistance? I'm uncertain of the answer to these questions. I hate to see anyone suffer, but is some suffering just while other suffering should be alleviated, and how do we judge that?

I believe that life is generally good, although it is difficult and filled with perils. Mr. McMahon seems to have had a very good life, gaining much more success and fame than most people will ever know. I feel bad that he is facing failure near the end of his life, but perhaps that is a lesson he needed to learn. I am sure we all must face failure and seek to succeed afterwards. Hopefully we will learn to be better people in the process.

The photo of Mr. Spock is from www.flickr.com/photos/cultureculte/2306916969 and it is the copyright of culture.culte.

 

6 Comments on Ed McMahon and Donald Trump: Is this justice?

AUG
19
2008
1 Featured Post

In case you're wondering, I just included the photo of Mr. Spock because the first word that popped into my head when I read this story was "Fascinating." I remembered hearing Spock say that many times, so I just made a quick decision to include him with my blog entry. It might be a little out of place with the overall tone of my post, but that's my personality.

Sincerely,
Robert Lockard

4:19pm • #1
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Well, yes, Ed McMahon is one of the lucky few.  While it may seem unfair, in my view, it is all relative.  In our local market, people swoop in to make deals on short sales and definitely REOs every day.  Ed McMahon is just on a different level.  Instead of a home in our city going for $200,000 less than it did 2 years ago, Ed McMahon's is going for $2 million less?  Relativity... 

Definitely a lesson learned for him, but he is fortunate that The Donald is willing to purchase the home from him and let him live there (life estate maybe).  Best of both worlds!  Ed McMahon gets to stay in his home, and The Donald make a great investment on a home owned by a very famous person.

Definitely, Ed's notoriety is helping him out of a bad situation.  If there are multiple offers on Ed's home, more power to him, but I would think the ability to continue to live in the home would be a big consideration.

Thanks for the great post:)

4:32pm • #2
1 Featured Post

Dear Sherry,

Thank you so much for your insightful comments! You're absolutely right. Donald Trump has plenty to gain by investing in Ed McMahon's property, and Mr. McMahon is being treated extremely well in this deal he's getting. It's all relative - whether it's a $400,000 house or a $4 million house. Thanks again for your awesome words.

Have a great day. :)

Sincerely,
Robert Lockard

4:41pm • #3
304,251 Points 8 Featured Posts Localism Sponsor Outside Blog Hit Router

Saved by the Donald, well it's not Carnack the Magnificent but any port in a storm, Good Luck to Ed, Trump - well he doesn't need luck. He'll wait an appropriate amount of time and resell the place at a profit..we will have to see if he really lets Ed stay It might be good P.R. for a while but the return on investment is what the Donald is doing it for.

4:57pm • #4
1 Featured Post

Dear Steve,

Very good point. Donald Trump doesn't seem like the kind of man to do kind things without wanting something in return. I hope that Ed McMahon will be all right. He looked so frail when he appeared on Larry King Live a little while back to talk about his mortgage crisis. I wonder how much longer he has before he'll be able to see his good friend Johnny Carson again on the other side of the veil. What a wonderful reunion that will be. Sorry, I got a little sidetracked from the original point. Thank you very much for your comment.

Sincerely,
Robert Lockard

5:13pm • #5
AUG
20
2008
191,379 Points 4 Featured Posts Outside Blog

Robert - I think Trump is doing this simply as a publicity stunt. Furthermore, I don't truely believe Trump will close on the place .... let's see.

11:54am • #6

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Robert Lockard

Seattle, WA

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Luxury Real Estate

Address: 2110 Western Ave., Seattle, WA, 98121

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My personal thoughts on luxury real estate, technology, news media and a variety of other related topics and trends. I also maintain the Luxury Real Estate Blog on LuxuryRealEstate.com.


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