‘Real Housewives of New Jersey’ Star’s Home Sells for Just $100
‘Real Housewives of New Jersey’ Star’s Home Sells for Just 0
Teresa Giudice: Paul Zimmerman/WireImage; realtor.com
Despite some high-profile evidence to the contrary (we’re looking at you, presidential campaign 2016!) having a background as a reality TV star may not be a guarantor of future success—especially if you happen to have been one of the most notorious members of “Real Housewives of New Jersey.”
Somehow, Teresa Giudice‘s rowdy, table-flipping TV behavior didn’t help make her former home a hot commodity. In fact, no one met the minimum bid on the foreclosed home once owned by her and husband Joe—not even fans of her cookbooks such as “Fabulicious! Fast & Fit!” So it was sold back to its mortgage lender for just $100, reported NJ.com.
The couple, who pled guilty to financial fraud in 2014, bought the three-bedroom, one-bathroom residence in Lincoln Park, NJ, for $170,000 in 2005, according to realtor.com®. Despite selling for less than the cost of a used iPhone, the house has an estimated value of $219,234.
The median home price in the town is $298,900, according to realtor.com.
No matter who the owners are, it’s fairly typical for banks to buy back foreclosures on the cheap, says real estate agent Christopher Homsi with Coldwell Banker Residential Brokerage in Wayne, NJ.
“Sometimes they’ll put some work into it, make it look nice, and then they’ll try to resell,” he says. But in most cases, they still wind up losing money on the property.
Having a previous owner known for “Real Housewives” escapades don’t really help—or hurt—sales.
“People don’t really care if a reality star lived there,” Homsi says. Residences will sell regardless—“as long as the property’s in good condition.”
The criminal couple reportedly lived in the Lincoln Park home for a few years while renovating their mansion in the Montville Township of New Jersey. They then rented it out for a few years.
Giudice served about a year in the slammer and was released in December for her part in financing the couple’s lavish lifestyle with phony mortgage and construction loans. Her husband started his 41-month sentence last month.
It was the second residence the Giudices have lost. Their foreclosed vacation home in Manahawkin, NJ, was also sold back to the lender in August for another measly $100, according to NJ.com. They narrowly avoided losing their Montville Township mansion in the fall.
When she wasn’t back-stabbing or brawling with her fellow cast mates in front of the cameras, Giudice penned several books, including a memoir of her time in the clink. She has also appeared on Donald Trump‘s “The Celebrity Apprentice.”
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