Word: auctioner
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...with fine wine in France or Italy, the trick is to buy at source. If you're in the country from August to October, head for the Cape Winemakers Guild auction, www.capewinemakersguild.com, to be held this year on Oct. 3. Or try the Soweto Wine Festival, www.sowetowinefestival.co.za, on Sept. 4-5. If you're overseas, contact an exporter like Wine Cellar, www.winecellar.co.za, or Caroline's Fine Wine Cellar, carolineswine.com. Both assemble tailor-made consignments and ship to your door. The word this year is that the sauvignon blancs, always good, may be great enough to reconquer Europe all over again...
...hard to drive down a residential street in Miami Gardens, Fla., and not see two, three, four houses in foreclosure. Some have been on the auction block since last year; they are once handsome, pastel-colored ranch houses that are now surrounded by waist-high weeds or boarded-up windows. "The tarp on that busted roof is about to disintegrate, it's been there so long," says Andre Williams, a Harvard-educated real estate attorney and Miami Gardens city councilman, pointing at one of the houses and shaking his head at the state of the solid middle-class, African-American...
...never really understood the kind of adjustable-rate loan I was given, which I feel was a bit predatory, given my economic circumstances," she says. "I'm even willing to buy the house outright from them for what I'm told they'd probably get it for at auction, around $100,000. Anything to keep the house. My neighborhood's got too many foreclosed homes as it is." She points to one that lenders have yet to sell - but which she and her neighbors fear has become a nighttime lair for drug-addict squatters. (Watch a video on people facing...
...Milligan knows that the bank's first impulse, from a business standpoint, is to try to auction the house and at least get some long-term mortgage-interest revenue out of the sale. That's a big reason so many banks have balked at loan modifications in spite of MHA: they'd rather roll the dice with another owner since studies show many modified mortgages still go south, just delaying the inevitable. But in cases like Miami Gardens, says Milligan's lawyer, Miami real estate attorney Rashmi Airan-Pace, lenders need to realize that as foreclosures mount and infect neighborhoods...
...When an estate sale was held following Johnny Cash's death, it grossed $4 million. "If those pieces appeared now at auction, I think it would be difficult to sell them for exactly the same price," says Roberts. "The whole euphoria of an estate sale [often makes] people get carried away...