Seeing as how the sun is just starting to set on this Easter holiday, we thought that we’d put aside the stats, studies, and reports for now and bring some news that is just a little bit of fun. That’s why this story revolves around the Canadian teenager that has taken the world, and mostly teenage girls, by storm. It’s the Biebs, and it turns out that he might be able to sing and dance, but when he’s in California anyway, he can’t get a mortgage.
Last week it was reported that Justin Bieber was house-hunting in California and that he had come upon the home of his dreams. The mansion has everything you’d expect an 18-year-old to have in their home – seven bedrooms, eight bathrooms, a guest house, amazing pool, and sweeping views of one of the most beautiful states there is. But, no one was just going to hand over this multi-million dollar home to Justin, no matter how many records he’s sold. There was some negotiation involved.
It began when Justin’s manager told him that instead of paying cash for the property that was listed for $10 million, he should apply for a mortgage. The reasons for this are baffling to many. Justin Bieber does not need to borrow money from anybody, and he probably won’t ever need a HELOC either. But he applied for a mortgage anyway, probably fully expecting to be approved. He wasn’t. After applying for a $7 million dollar loan, the bank’s appraiser looked at the home and found it to be valued for $1 million less than that. Because of that, the application was denied.
We don’t know if Bieber ever got his mortgage; but we do know that he got his California dream home for $6 million, after the owner dropped the original listing price from $10 million. Bieber’s home ownership problems weren’t just with the bank though. He also originally wanted to buy a home in Hollywood Hills that Ashton Kutcher was currently renting. But, after Kutcher bought that abode, Justin had to settle for something a little less extravagant.
There probably aren’t too many Canadians that sympathize with Justin Bieber, at least not when it comes to his mortgage woes. But it does make for a funny little story on Easter Sunday.
Happy Easter, everyone!
