Bank forecloses on New Orleans haunted houses owned by celebrity Nicholas Cage

November 14, 1:54 PMCelebrity Property ExaminerKae Davis

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Haunted house in New Orleans formerly owned by Nicholas Cage; 2 celebrity homes lost to foreclosure
www.casasugar.com

In celebrity real estate news actor Nicholas Cage has made big headlines for going broke and needing to sell his homes around the world. It seems, however, that he was unable to sell two properties in particular in the city of New Orleans, Louisiana and both foreclosed on Nov. 13, 2009. Why? Because local residents claim the houses are haunted and no one wanted to buy them.

BANK BUYS CELEBRITY HOMES AFTER FORECLOSURE DESPITE RUMORS OF HOUSES BEING HAUNTED

According to New Orleans public records, Regions Bank of Birmingham, Alabama, paid for $2.3 million for the Royal Street property formerly owned by Cage. The property appraised at $3.5 million. The bank also paid $2.2 million for Cage's Prytania Street home (the one that previously appraised at $3.3 million).

[Source: Zillow]

CNN reports, "Cage owed $5.5 million in mortgage payments and $151,730 to the City of New Orleans in real estate taxes." 

The "A List" actor going broke has been the subject of many Hollywood celebrity scandal and money talks celebrity OOPS reports, but his homes going to foreclosure because they are haunted is sure to make all the strange news.

HAUNTED HOUSE RUMORS STIGMATIZE PROPERTIES IN NEW ORLEANS

The low sale amounts do not accurately reflect the value of the property based on location, unique features, or amenities.  They do reflect the reduced value of stigmatized property, however.

Local folklore about the homes came up on the Zillow blog when one poster in the comments section asked why Cage didn't just sell the homes (implying he willingly let the homes foreclose). Another local reply came in from someone writing under the name Dr Bob, saying:

He [Nicholas Cage] didn’t sell the house on Royal because it is unsellable. The appraisal is based on a normal house not a severely haunted house in which over a hundred murders took place. The appraisal does not take into account that even though a similar house might sell for millions this house cannot be sold because of its history.

There is no word on why the second property did not sell, other than the homeowner tie.

MORE ABOUT NICHOLAS CAGE BUYING HAUNTED HOUSES IN NEW ORLEANS

Back in 2007, actor Nick Cage bought the landmark New Orleans French Quarter property up the street from the newly purchased home of celebrities Brad Pitt and Angela Jolie. [Source: Big Time Listings]

Real Estate Bloggers, a celebrity real estate website, writes,

The Lalaurie House in New Orleans has had a checkered past and according to Wikopedia is considered the most haunted property in all of New Orleans.

And now Nicolas Cage is the proud owner of it through his Hancock Park Real Estate Company that has bought other properties in San Francisco and Los Angeles.

They go on to say,

The Lalaurie Mansion is reported to be the sight of sadistic acts committed upon their household servants and slaves by Delphine LaLaurie in the 1830’s. These spirits have been haunting the property over the past 100 years according to local reports, so we wish Nicolas Cage all the best when he is visiting.

WHY DID NICHOLAS CAGE BUY HAUNTED HOUSES? WHO KNOWS

It is believed that Cage bought the homes specifically due to their spooky past. Apparently he thought it was a good idea at the time or else he would not have done it.

[Cage claims a poor financial advisor directed him to buy the property selections he did, but most people would not follow advice on buying a home that they would always feel uneasy setting foot in due to claims of haunting.]

However, as now evidenced by the current market value, buying stigmatized properties is seldom a good idea is you ever plan to resell for profit.

According to a variety of celebrity news sources, Cage previously bought another New Orleans property in the Garden District from noted horror writer Anne Rice.

CNN also reports that Cage owes more than $6 million in back taxes. His properties in California and Las Vegas, although not reported to be haunted, "have also been foreclosed on and are designated for auction later this month."

Why do YOU think Nicholas Cage bought homes with such frightening past history involved? Why hasn't the celeb been able to sell his houses in the United States as easily as those in Europe? Sound off in the comments section below.