HotPads Daily :: The Official Blog of HotPads.com

Another Famous Foreclosure: Cowboys' Pacman Jones

In what's now becoming a regular installment of HotPads Daily, we have news of another prominent person facing foreclosure.

This time around, it's Adam "Pacman" Jones of the Dallas Cowboys.  The Dallas Morning News reports that one of the former Tennessee Titan cornerback's homes, a West Nashville townhouse, was foreclosed on in April.

If the name sounds familiar to you, it's because the NFL star is best known for his involvement in a Las Vegas strip club shooting that left one man paralyzed.  Jones was suspended for the entire 2007 season, no doubt contributing to his inability to make his mortgage payments.  See other Tennessee foreclosures on HotPads.

New York Times Author makes Buy vs. Rent Decision

In a recent New York Times article, the self-described "evangelist for renting" David Leonhardt describes the economic factors that finally made him take the plunge and become a homeowner.

With home prices skyrocketing a few year ago, renters enjoyed the benefit of lower housing payments and more flexibility to relocate for work, school or love.  Homeowners have always enjoyed tax breaks, control over their living space and (until the last year or two) steady appreciation of their investment.

These are the same complexities that go in to the HotPads Buy vs. Rent Calculator, and easy way for you to see what makes sense in your specific financial situation.  You can also search for apartments, condos and home for rent and sale by monthly payment using the HotPads "Buy vs. Rent" housing search.

Georgetown U. Grads invade HotPads for User Tests

In our continuing effort to bring you the best real estate search engine on the planet, HotPads recently invited a slew of recent graduates from Georgetown University to evaluate recent changes to our site and suggest improvements.  (They held nothing back.)

For the low, low cost of pizza and canned beverages of an unnamed variety, the Hoyas looked at the current features and functionality of HotPads through a series of required tasks, then prepared worksheets with their comments and tips.

HotPads has close ties to the university, with our offices now located in the neighborhood and having two alums on the payroll.  (Fans of other Big East schools are still allowed to look for homes for sale or rent in Syracuse or Providence.)

California Congresswoman Fights Foreclosure

While the House and Senate look to pass legislation to stem the rising tide of foreclosures, Democratic Congresswoman Laura Richardson can speak to the crisis firsthand; she claims that her Sacramento home was recently sold into foreclosure without her knowledge and in violation of an agreement that she had with her lender.

She explained in a recent interview that her money woes are due in large part to having financed her own campaign. The 1,600-square foot home that she paid $535,500 for back in January 2007 was sold at auction earlier this month to a Sacramento mortgage lender for just $388,000.

You can check out foreclosure rates and foreclosed homes for sale in Sacramento on HotPads.

"Angry Renters" Oppose Foreclosure Bailout

A new movement looks to take aim at the  "whining" and "reckless" people who are in the foreclosure spiral and members of Congress looking to dish out tax dollars to bail them out.  AngryRenter.com is the voice of renters who are upset to see yet more government largess go to homeowners.

It's true that HotPads has always had a fondness for folks searching for apartments and houses for rent. But with millions of condos and homes for sale (and yes, foreclosures) we've got love for homeowners, too.

To make peace we offer up our awesome map-based search and over 140,000 rental property listings, so no renters should have to stay angry for long.

Senate Votes to Pass Mortgage Relief

Today the Senate Banking Committee voted 19-2 to pass a bill that hopes to put the brakes on foreclosures and help prop up the housing market for the most troubled borrowers.   One key measure allows the FHA permission to back $300 billion in new mortgages for at-risk homeowners if their lenders agree to reduce their loan balances below the appraised value of borrowers' homes.

The bill can be signed into law as soon as July.

The entire real estate industry has been waiting for any relief to shore up sagging home values beyond the few bright spots in the market.

Folks can continue to monitor the foreclosure debacle unfold with our foreclosure heat maps.

Real Estate Listings Hit Google Maps

Our pals in Mountain View recently launched new enhancements to Google Maps that include (drumroll, please) REAL ESTATE LISTINGS.  Users pulling up maps just need to hit the Show search options link and select "Real Estate" as a category.

These listings come from Google Base, one of the many listing distributions partners that HotPads works with to get most exposure for the apartment community managers and real estate brokers who rely on HotPads for quality leads.  So HotPads listings should appear as part of this new online tool.

The housing search process is rapidly becoming a visual, map-based medium (hence the huge success of HotPads.com) and this is an interesting step for Google, which perfected text/link searches on the web.

Jackson's Neverland Ranch Avoids Foreclosure

King of Pop Michael Jackson gets to keep his Neverland ranch after the failure to pay on his $24 million mortgage had the playland of llamas and orangutans facing the aution block.  The 11th-hour purchase of the loan by Colony Capital LLC kept Jackson from losing the 2500-acre ranch.

Jacko isn't alone in his plight, as million-dollar foreclosures abound in the current market.

Jackson no longer lives at the ranch, so he should check out the Hottest Pads on HotPads for a more modest mansion, where we have nice homes starting at just $6 million.

Foreclosures Bring Buzz & Bites

If you thought that the only bloodsuckers involved in the whole foreclosures mess were shady mortgage brokers, think again.  An apparently major problem with abandoned homes are the swarms of mosquitoes that breed in the stagnant swimming pools.

To combat the threats of West Nile and worse, ruined weekend barbecues, local authorities have used a variety of methods to combat the pests.  One innovative solution reported in the Wall Street Journal last week involves stocking pools with mosquito fish, which feed on the insect larvae.

I would think that an easier solution would be to just drain the pools.  Here at HotPads we like the fish on our plates, not in our foreclosures.

Fastest Growing Real Estate Markets on HotPads

Cnn.com recently published its list of the 10 fastest growing real estate markets where homes are expected to post price gains in the coming year.  Check out the following selections on HotPads.com and see if our foreclosure heat maps tell a more cautionary tale.

• McAllen, TX
• Rochester, NY
• Birmingham, AL
• Syracuse, NY
• Buffalo/Niagara Falls, NY
• New Orleans, LA
• Scranton, PA
• Grand Rapids, MI
• Baton Rouge, LA
• El Paso, TX

If you're not convinced that these areas are great places to buy, you can still find great apartments to rent on HotPads.

Most Ridiculous Coffee Gadget Ever

Our addiction to coffee is well-documented, and it has not gotten any better since we moved into our new office.  (We should have known that having a Starbucks in the lobby would be just as bad as having an intravenous drip installed.)

But we have to draw the line somewhere.  And that line is drawn where the Heart Beans coffee grinder begins.  This contraption, held like a baby next to your chest, grinds coffee beans to the tune of your ticker.  Luckily it's just a concept, or Doug Lewis might actually buy one.

In the meantime, we'll let the Pike's Place boys provide the fuel for the best apartment search on the web.

Thanks, Gizmodo.