Very Special Sausalito Home For Sale

(Remember - click on photos to enlarge)

Spectacular 3 level contemporary home w/ world class views in a private setting, yet just minutes to San Francisco! Fab Open floor plan with breathtaking views from most every room! Ideal for sophisticated entertaining! Home features:Living room w/ marble fireplace; all gourmet kitchen; stunning Master Suite; 3 add'l bedroom suites; 4 full baths & 2 half baths; fully wired media room; office; library. .. this home has it all!

Sausalito, CA 94965
Price: $3,675,001
Beds: 4
Baths: 5
Sq. Ft.: 5,000
$/Sq. Ft.: $735
Lot Size: 0.59 Acres
$/Acre: $6,271,331
Year Built:2003
Stories: 3 Stories
Style: Contemporary
View(s): Bay, Bridges, Hills, Lights, Marina, Water
Area: Sausalito
County: Marin

If you'd like to buy this home please shoot me an e-mail - michael@valleyfinance.com

Here are some things you may or may not know about the wonderful town of Sausalito:

-Located at the north end of the Golden Gate Bridge.

-The novelist Amy Tan is a resident of Sausalito.

-Scenes in the 1947 film The Lady from Shanghai, directed by Orson Welles, take place on the Sausalito waterfront.

-In Star Trek IV: The Voyage Home, the fictional Cetacean Institute is located in Sausalito

-In the television series Star Trek: Enterprise, a Vulcan "compound" is based in Sausalito, although it is not depicted; Fort Baker, which borders Sausalito is shown, and has become the site of Starfleet Headquarters.

- In Jack Kerouac's On the Road, Sausalito is mentioned as "a little fishing village" and a joke is made about it being "filled with Italians."

Huey Lewis and the News and the Dave Matthews Band recorded albums in Sausalito.
The Real Thing, Faith No More
Load, Reload, and Garage Inc, Metallica (at The Plant Studios)
The drums on Breaking the Silence, Heathen (at Studio D)
Rumours, Fleetwood Mac
Ferro e cartone, Francesco Renga(at The Plant Studios)
Live Lycanthropy by Bay Area Band Papa Wheelie was recorded at The Plant Studios.
Talkin' Blues, Bob Marley and The Wailers

Click Here for photo tour of downtown Sausalito.

Click Here for more in depth photos of Sausalito.

George Carlin 1937 -20008 (He was 71)

One of the greatest comic minds of any generation passed away sunday in Santa Monica Calif0rnia. You will be missed.

Thank you FBI for cleaning up this mess...

Ralph Cioffi, left, and Matthew Tannin are escorted to federal court in the Brooklyn borough of New York, U.S., on Thursday, June 19, 2008. Photographer: Daniel Acker/Bloomberg News.

More Than 400 Defendants Charged for Roles in Mortgage FraudSchemes as Part of Operation "Malicious Mortgage"
Two Senior Managers of Failed Bear Stearns Hedge Funds IndictedToday in Separate Mortgage-Related Securities Fraud Case [one faked his own suicide and was caught]
WASHINGTON – The Department of Justice and Federal Bureau of Investigation (FBI) announced today a national takedown of mortgage fraud schemes, the culmination of substantial coordinated efforts during the last three and a half months to identify, arrest and prosecute mortgage fraud violators through the United States. Operation Malicious Mortgage highlights the strong enforcement response undertaken by the Department of Justice and its law enforcement partners to combat the threat mortgage fraud poses to the U.S. housing industry and worldwide credit markets.
From March 1 to June 18, 2008, Operation Malicious Mortgage resulted in 144 mortgage fraud cases in which 406 defendants were charged. Yesterday, 60 arrests were made in mortgage fraud-related cases in 15 districts. Charges in Operation Malicious Mortgage cases were brought in every region of the United States and in more than 50 judicial districts by U.S. Attorneys’ Offices based upon the law enforcement and investigative efforts of participating law enforcement agencies. The FBI estimates that approximately $1 billion in losses were inflicted by the mortgage fraud schemes employed in these cases.
In addition to fraud directly related to individual mortgages, the Department is committed to investigating and prosecuting cases of mortgage-related securities fraud. Today, the U.S. Attorney’s Office for the Eastern District of New York announced an indictment against two senior managers of failed Bear Stearns hedge funds, charging Ralph Cioffi and Mathew Tannin with conspiracy, securities fraud and wire fraud. Cioffi was also charged with insider trading. The indictment alleges that the managers marketed the two funds as a low risk strategy, backed by a pool of debt securities such as mortgages. The indictment alleges that by March 2007, the managers believed the funds were in grave condition and at risk of collapse, but made misrepresentations to stave off investor withdrawal. The funds subsequently collapsed in the summer of 2007 resulting in approximately $1.4 billion in losses to investors.
“Mortgage fraud and related securities fraud pose a significant threat to our economy, to the stability of our nation’s housing market and to the peace of mind of millions of American homeowners,” said Deputy Attorney General Mark R. Filip. “Operation Malicious Mortgage and our other mortgage-related enforcement actions demonstrate the Justice Department’s commitment and determination to combat these criminal schemes, hold their perpetrators accountable and help restore stability and confidence in our housing and credit markets.”
“Operation Malicious Mortgage is a concerted, joint law enforcement and prosecutorial effort aimed at disrupting individuals and groups engaged in mortgage fraud,” said FBI Director Robert S. Mueller, III. “This operation is an example of our unified commitment to address this significant crime problem. The FBI will continue to direct investigative and analytic resources towards mortgage fraud and corporate securities fraud that threaten our nation’s economy.”
Operation Malicious Mortgage represents the joint collaborative efforts of the FBI, U.S. Postal Inspection Service, Internal Revenue Service-Criminal Investigation Division, U.S. Immigration and Customs Enforcement, U.S. Secret Service, U.S. Trustee Program, Department of Housing and Urban Development Office of the Inspector General, Department of Veterans Affairs Office of the Inspector General, and Federal Deposit Insurance Corporation Office of the Inspector General. Operation Malicious Mortgage is the most recent coordinated sweep in an ongoing law enforcement effort to combat mortgage fraud, which also included Operation Continued Action in 2004 and Operation Quick Flip in 2005.
Mortgage frauds employ a variety of tactics including misrepresentations, deceit and other criminal abuses to fund, purchase or insure mortgage loans. Operation Malicious Mortgage addresses primarily three types of mortgage fraud schemes: lending fraud, foreclosure rescue scams and mortgage-related bankruptcy schemes. Lending fraud frequently involves multiple loan transactions in which industry professionals construct mortgage transactions based on gross fraudulent misrepresentations about the borrower’s financial status, such as overstating the borrower’s income or assets, using false or fictitious employment records or inflating property values. Foreclosure rescue scams involve criminals who target legitimate homeowners in dire financial circumstances and fraudulently collect fees for foreclosure prevention services or obtain ownership interests in residential properties. Both of these fraudulent mortgage schemes may be furthered by filing bankruptcy petitions that automatically stay foreclosure.
The President’s Corporate Fraud Task Force, chaired by Deputy Attorney General Filip, is also responding to issues raised by mortgage fraud in the corporate sector. Created in 2002 to investigate and prosecute significant financial crimes, the Task Force includes representatives from ten federal departments, commissions and agencies, in addition to seven U.S. Attorney’s Offices and two Divisions within the Department of Justice, combining the experience of thousands of investigators, attorneys, accountants and regulatory experts. Since July 2002, the Department of Justice has obtained nearly 1,300 corporate fraud convictions, including the convictions of more than 200 chief executive officers and corporate presidents, more than 120 corporate vice presidents and more than 50 chief financial officers.
An indictment is not evidence of guilt. All persons charged with a crime are presumed innocent until proven guilty beyond a reasonable doubt.

Inventory Adjuster...

FHA EXTENDS FINANCING FOR IMMEDIATE PURCHASE OF FORECLOSED HOMES Measure seen to bring stability to home values and accelerate sale of vacant properties.
In an effort to stabilize declining home values in certain neighborhoods, the Bush Administration today announced a temporary policy that will extend government-backed mortgage insurance and allow for the immediate sale of vacant foreclosed properties.
For one year, the Federal Housing Administration (FHA) will insure foreclosed properties marketed and sold by property disposition firms on behalf of lenders. The properties, which must purchased by owner-occupants, will no longer be subject to the customary 90-day waiting period.
"A glut of foreclosed and abandoned homes harms neighborhoods, frustrates homebuyers and delays a community's recovery," said Brian D. Montgomery, Assistant Secretary of Housing-Federal Housing Commissioner. "The action we take today will allow homebuyers to purchase these homes in much greater numbers and ease the excess supply of unsold homes in neighborhoods across the country."
FHA's new temporary policy will help stabilize neighborhoods experiencing high rates of foreclosure by reducing the inventory of unsold properties. Many foreclosed properties remain vacant for months, inviting vandalism and reducing values of surrounding homes. To address that sizeable inventory, lenders have hired companies that specialize in the marketing and disposition of foreclosed homes. It's reasonable and appropriate that these firms have the ability to sell the properties to borrowers using FHA financing.
With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This prohibition is intended to prevent property "flipping," a predatory practice that strips a home of its equity before being quickly resold at an inflated price to an unsuspecting buyer. FHA's new policy will permit the immediate sale of foreclosed properties to legitimate borrowers wishing to use FHA-insured financing.

R.I.P Timothy John Russert, Jr.

I didn't know Mr. Russert, but having spent a lot of time on the East Coast and attending many basketball games at the MCI center I was fortunate to sit next and share dialogue with this very noble humanbeing. What a great personality, a true server of the greater good.

Timothy John Russert, Jr. (May 7, 1950 – June 13, 2008 was an American journalist who hosted NBC's Meet the Press. Serving 16½ years as moderator, he was the longest-serving host of the program. He was NBC News' Washington Bureau Chief and also hosted the self-titled CNBC/MSNBC weekend interview program Tim Russert. He was a frequent correspondent and guest on NBC's The Today Show and Hardball. He co-hosted the network's presidential Election Night coverage and presented the polling results of the NBC News/Wall Street Journal survey on the NBC Nightly News. Russert collapsed and died at his office in Washington on Friday June 13, 2008. On the afternoon of June 13, 2008, while recording voice overs for the Sunday Edition of Meet the Press, Russert collapsed at the Washington D.C. Bureau of NBC. Despite immediate attempts at resuscitation by EMS and transportation to Sibley Memorial Hospital, Russert never regained consciousness and was pronounced dead a short time later. News of his death was reported live on NBC, CNBC, and MSNBC by Tom Brokaw. He had just returned from a family vacation in Italy, where he went to celebrate his son's graduation from Boston College. An autopsy was ordered to be performed to determine the cause of death.
On the evening of his death, the entire, nearly commercial-free half hour of NBC Nightly News was dedicated to Russert's memory, featuring previous news segments with Russert and interviews with some of Russert's colleagues.

The Champ Faces Foreclosure

I suppose just becasue you can live in opulence (doesn't mean you have to) for a period of time if your not a ROYAL or old money, but how many people are we seeing face foreclosure who have made 100's of millions. Who do they have managing their money.

Today the Canadaian Broadcasting Company is reporting the Atlanta Georgia Based -
Former heavyweight champion Evander Holyfield is facing mounting financial and legal woes.
Holyfield's $10 million US estate in suburban Atlanta is under foreclosure, the mother of one of his children is suing for unpaid child support, and a Utah consulting company has gone to court claiming the boxer failed to pay for more than half a million dollars for landscaping.
A legal notice that ran Wednesday in a small newspaper in Georgia said Holyfield's estate will be auctioned off "at public outcry to the highest bidder for cash" at the Fayette County courthouse on July 1. The 5,000-square-metre home — located on Evander Holyfield Highway — has 109 rooms, including 17 bathrooms, three kitchens and a bowling alley.
Holyfield defaulted on a $10 million loan to Washington Mutual Bank, which will auction off his home on the courthouse steps. The child support case involves Holyfield's 10-year-old son, whose mother, Toi Irvin, was initially awarded $2,000 a month in support. A flight attendant, she lost her job when airlines downsized in the wake of the Sept. 11, 2001, attacks, prompting her to return to court to ask for an increase. In 2003, a Fayette County jury increased the payment to $3,000 after hearing evidence that Holyfield's gross monthly income was $604,000, while Irvin was bringing in less than $2,600 a month.
Holyfield's handlers allegedly told her that he will no longer be able to make the support payments. Irvin said he has already missed two payments, so she has gone to court seeking restitution. "My concern is there may be a lot of other mothers not be getting paid, and I would like my client to be at front of the line," said Randy Kessler, Irvin's lawyer.
Kessler said Thursday evening that he has yet to hear from Holyfield's lawyer and hopes to go before a judge in 30 days. He will request the boxer, who has 11 children, be jailed if he doesn't pay up.
"This is such a small amount given the scope of what he has," Kessler said. "If Evander Holyfield can get away with it, anybody can. There are guys making $15,000 a year who go to jail for missing a $100 payment."
Meanwhile, a federal lawsuit was filed two weeks ago in Utah seeking repayment of $550,000 in loans allegedly made to Holyfield to pay for landscaping on his 95-hectare estate.
Holyfield didn't return a message left on his cellphone. His attorney, Frederick Gardner, did not respond to an e-mail nor a call to his Atlanta office.
Holyfield, 45, fought in October in Moscow, losing a unanimous decision to Sultan Ibragimov for the World Boxing Organization title.
Holyfield has won just six of his last 14 bouts (6-6-2) and was placed on medical suspension by the New York State Athletic Commission after a one-sided loss in 2004.
Despite the loss to Ibragimov, Holyfield said at the time he wasn't considering retirement.
Known as the Real Deal, Holyfield won a bronze medal in the 1984 Olympics and dominated as a cruiserweight before making the move up to heavyweight, were he knocked out James (Buster) Douglas in 1990 to win the championship.
He lost his undefeated record and the title in 1993 to Riddick Bowe, but regained it twice more in his career, including with a memorable upset of Mike Tyson in 1996. In the rematch several months later, Tyson was disqualified for biting off a portion of Holyfield's ear, which was later re-attached.
Holyfield has grossed over $200 million US in his career.

Countrywide Foreclosing on Ed McMahon's Home

Price: $6,250,00012000 CREST CT.BEVERLY HILLS POST OFFICE • •

90210MLS #: • Status: For Sale

How in the world could Ed McMahon be in jeopardy of losing his house to foreclosure?
McMahon purchased the house in 1990 for $2.6 million, according to public records.

12000 Crest Court in the gated Summit neighborhood inside the Beverly Hills postal area.

We all know Ed has Johnny Carson's side kick and the Publisher Clearing House spokesman.

What I can't figure out is why he didn't own the place straight up. Ed was making some very big dollars - his net worth had been in excess of 200 million dollars.

Howard Bragman, a spokesman for Mr. McMahon, said late Tuesday that his client is having "very fruitful discussions" with the lender and hopes to find a resolution. It isn't clear whether that would allow the 85-year-old Mr. McMahon and his wife, Pamela, to remain in the six-bedroom home. ReconTrust, a unit of mortgage lender Countrywide Financial, on Feb. 28 filed a notice of default on a $4.8 million Countrywide loan backed by Mr. McMahon's home. The notice was filed with the Los Angeles County Recorder's Office but hasn't previously come to light. According to the filing, Mr. McMahon was then about $644,000 in arrears on the loan. It isn't clear whether Countrywide still owns the loan or is acting on behalf of investors who acquired it. Public records also show that Mr. McMahon had a separate home-equity line of credit from Countrywide of up to $300,000 secured by the same house. Mr. McMahon broke his neck in a fall about 18 months ago and hasn't been able to work, Mr. Bragman said. That health problem, along with the weak housing market and economy, has forced Mr. McMahon into foreclosure proceedings.