By Doug Halberstadt
Home foreclosures are a part of the news almost every day. You can read about record numbers of them in practically every state in the country. I came across one over the weekend that really caught my attention.
The home is in St. George, Utah. The past owner is none other than former NBA legend and Hall of Famer Julius “Dr. J” Erving. It’s beyond my imagination that someone of his stature and income level could allow his property to fall into foreclosure.
The 6,572-square-foot home was custom built for Erving back in 2006. It went into foreclosure in December 2010. Dr. J’s problems began when the homeowners association in his Utah subdivision overlooking Zion and Pine Valley filed a lien on his home. The association claimed Erving owed $2,100 in assessments and fines, for improper outdoor lighting, a dead tree and misplaced garbage cans. That amount soon ballooned.
I’m thinking it would have been a heck of a lot easier to pay the fine, change the lighting, call a tree service and haul the garbage cans around back, instead of going into being foreclosed on. But what do I know? I’ve never been able to slam dunk a basketball.
The home has several unique features including 10-foot tall doors, five bedrooms, six-and-a-half bathrooms, a home theater with NBA logo chairs and a 150-inch screen; a master bath with a double-sided fireplace next to the tub; and a finished basement with a kitchen, walk-in closets and a mother-in-law apartment, a covered deck, a fire pit, and a red, white and blue rubberized basketball court with the ’76ers logo.
The home had a $1.5 million mortgage when originally built, and according to the website Foreclosures.com, it is currently valued at $2.22 million. Sounds like a bargain, doesn’t it? I’m thinking maybe they should list it in the Philadelphia area. Some ’76ers fan would make an offer, wouldn’t they?
According to the story I read, Erving moved to Atlanta in 2008 to keep an eye on the golf course he bought with the help of an $11 million mortgage. I would hope he does a better job at keeping an eye on that than he did with the Utah property.
From the March 16-22, 2011, issue