Last week was a very sad week for the entertainment industry. It began with the loss of Ed McMahon, then Farrah Fawcett, and ended with the loss of Michael Jackson. These three people have touched many lives around the world and have certainly had a hand in molding the pop culture we know today. The shocking news of Michael Jackson’s death had every news outlet dedicating their airtime in remembrance of the “King of Pop”. I could not help but to notice how many times they would speak of his financial problems, especially those associated with the infamous piece of real estate known as Neverland Ranch. But we were not only reminded of Michael’s problems, but McMahons recent troubles as well. This really shows that anyone can fall victim to this economy and it is so important to educate yourself on your finances no matter how rich or poor you may be. The real estate world is a buzz about whether Jackson’s properties resale prices will be hurt by his tragic death. Many believe it will. With Neverland Ranch being bought out earlier this year and saved from foreclosure, it is still and always will be associated with Jackson. I am sure many would like to see Neverland turned into a museum like Elvis’ Graceland in order to take a look into the life of an icon. Please, take charge of your finances and financial investments; know what you are doing with your money and where it is going. One should never have to be remembered, even in part, for poor financial choices when the education is always available.
May Ed, Farrah, and Michael rest in peace.
Here is an interesting article on what some Real Estate experts that deal specifically with Southern California properties have to say.