Help Me Identify This Tree

Picture of the Day for 7/20/2013. I was driving past my neighbor's house when I noticed they have the most interesting flowering tree with fuzzy blooms. Have you ever seen anything like it? If you know what type of tree this is, please let me know!

Side note- when I walked over to my neighbor's house to take a picture of the tree, of course everyone in the house choose that exact moment to walk out of the house. Perfectly bad timing. I'm sure they were wondering what I was doing lurking by the house.