.
.
F117 Nighthawk
There must be a stealth rally happening in the Irvine housing market because I sure don’t see it. Perhaps it has just been a stealth market crash because today’s seller didn’t seem to notice. If you took the rally that lead up to 2006’s peak pricing and projected it forward into 2008, you might be able to come up with today’s asking price, but in our current market? WTF?
Asking Price: $1,999,000
Income Requirement: $499,750
Downpayment Needed: $399,800
Monthly Equity Burn: $16,658 or more
Purchase Price: $726,000
Purchase Date: 8/21/1998
Address: 111 Nighthawk, Irvine, CA 92604
| Beds: | 5 |
| Baths: | 4 |
| Sq. Ft.: | 3,900 |
| $/Sq. Ft.: | $513 |
| Lot Size: | – |
| Type: | Single Family Residence |
| Style: | Contemporary |
| Year Built: | 1998 |
| Stories: | Two Levels |
| Area: | Woodbridge |
| County: | Orange |
| MLS#: | S526976 |
| Status: | Active |
| On Redfin: | 3 days |
Most Spectacular Home in the Woodbridge Reserve. Attention to detail throughout this incredibly gorgeous Home. Living Room with Fireplace and Cathedral Ceilings. Gourmet Kitchen with Granite Counters, Recessed Lighting, Tile Floors, and Custom Backsplash behind professional grade cook top. Formal Dining Room with Chandelier. Family Room with Media Niche and Second Fireplace, and One Downstairs Bedroom. Master Suite and Three additional Bedrooms upstairs. Oasis like extra deep Backyard with sparkling Pool, Spa, and Fountains. Covered Outdoor BBQ Area with recessed lighting, custom built granite and stone counters, and ceiling fan. Outdoor Fireplace with sitting area perfect for entertaining. One of the newest developments in Woodbridge by Standard Pacific Homes and NO MELLO ROOS!
.
When I first saw this listing, I figured it was just a vanity listing. By putting the house for sale for $2,000,000, some homeowner can believe their house is worth $2,000,000. Perhaps it makes everyone else in the neighborhood feel good as well, or perhaps a homeowner just wants to tell all his neighbors that his house is better than theirs.
However, when I looked at the mortgage data, I was astounded by the activity on this property. I can’t determine how much this homeowner really owes because the total of all the listed loans is $4,631,380. Hopefully, on one of the many refinances, some of these old loans were paid off. His mortgage broker must love him with all the fees this guy has generated. Apparently, he can handle the payments as there has been no activity since late 2004. This doesn’t appear to be a distressed sale, but it doesn’t appear this seller would get a $1,153,060 check at the closing either. Of course, at this WTF price, there will be no closing, but it makes for a nice fantasy.
.
You were the girl that changed my world
You were the girl for me
You lit the fuse I stand accused
You were the first for me
But you turned me out baby
You dropped a bomb on me, baby
You dropped a bomb on me.
But you turned me on baby.
You dropped a bomb on me, baby
You dropped a bomb on me.
You were my thrills, you were my pills
You dropped a bomb on me
You turn me out, you turn me on, you turned me loose
Then you turned me wrong
You dropped a bomb on me, baby
You dropped a bomb on me.
You Dropped a Bomb on Me — The Gap Band
IR,
Here’s just the couple we should profile someday when their house goes up for sale. They’re not in Irvine but they both worked in Irvine.
http://money.cnn.com/2008/03/31/news/economy/copes/index.htm?cnn=yes
I feel so sorry for them. Not!
—–
This house will be for sale for about 20 years at this price……
I liked this comment the guy made. It is stupid on many levels:
“you pay a lot for your home and you can’t get what it’s worth now.”
1. It was never really worth what the guy paid. He bought in a bubble.
2. You can always get what it is currently worth because it is worth what someone will pay for it — nothing more.
3. As a mortgage broker he helped inflate the bubble and create the imaginary value of which he speaks.
I also like the sense of entitlement:
“they are trying to hang onto what they call their dream home with a view of the Pacific Ocean”
Are they entitled to this dream home now that they don’t have jobs? I guess the one-time possession of real estate for a short period entitles you to keep it forever. Perhaps I should rent a room at the Montage Resort in Laguna Beach and whine about losing my dream ocean view when I have to leave.
Graninte,
Great article……my guess is that the situation this couple is in is very common. We will see high end price erosion as these “faux” wealthy drain their bank accounts.
I like these quotes:
“And they’ve made cutbacks: trading in Kent’s Corvette for a Suburban”
I’m glad to see they went to a budget car, what did that buy them 6 months of minimum payments on all of their debt?
“We used to eat out a lot. Now we are the leftover king and queen,” said Kent.”
Obviously they still need to be the King and Queen of something.
“How long do you have to hold on before it starts to turn around? If anything, that piece of it is the most unnerving for us.”
waiting for the subprime turn around…….. priceless denial
Next move: trade in suburban for 1995 Honda Civic.
Next move: Move….. as in yeah, you got it…. move out of here.
LA Times has an article with the following title:
“Senate ready to help stem tide of foreclosures
Legislation is expected to include provisions for refinancing sub-prime loans and counseling for struggling homeowners.”
What effect will this legislation has on house price (sounds like it will pass by both houses soon) ?
IPO, in case you go to check out this WTF listing at 111 Nighthawk @ $513/sf, be sure to knock at the door across the street at 112 Nighthawk which is listed at $500k less at $441/sf.
Wait a little longer, 112 Nighthawk or equivalent will be you next home at just less than $1m.
It looks like a any other stucco tract box, hardly worth $2Mil. WTF indeed.
My guess is that these programs will end up be targeted towards inner city poor people……………………………………the wealthy people will get counseling……it will go like this…….
How do you feel today..?
I feel poor
Are you in debt up to your ears?
Yes
How do you feel about that?
not good
Is there anything I can do to make you feel better?
On and on……..
Both 111 Nighthawk and 112 Nighthawk are Hanu Reddy listings…everytime I see that he is the listing agent I always roll my eyes and think “Oh great, here comes another sky high listing price”….and I just drive on by….when is this guy going to get it?
I was going to post the same thing- another Hanu listing.
Both houses are in terrible locations. The $1.99M listing is on the Yale Loop and the other house across the street backs to the pool. Both houses are the first houses into the cul-de-sac, which is not ideal imo.
These two just incinerated their chances of landing a decent job. Clearly they do not live in reality and are looking for the “same thing” they had getting decent paychecks for spinning worthless paper. Sorry folks, just like any equity you had in the property, those days are long gone.
All they want is easy money – in jobs and in life. If either of their resumes hit my desk, it’s going into the bin.
I’ve been in 111 and it is very nice. Everything that can be upgraded is upgraded – even the driveway. The backyard is quite large and boy is that pool nice! 2m? Uh, no thanks!
Does anybody out there know this Mysti gal? Who did she have her 11 year old with? I’ll bet that she married a “nice guy” in her twenties, had a child with him and then ditched him for the guy in the picture who was a high paid sugar daddy at the time. I wonder what “nice guy” is up to these days. I wonder what it’s like to marry “your father.”
Looking at the pictures it is a beautiful home – but WTF is a beautiful home like this doing in a tract like Woodbridge – as far as I am concerned a home like this should be on at the very least one acre of land or it should be a spectacular apt in the best downtown area of some great city (e.g., London, Chicago, etc). Back east there are some areas that have legislated that all new homes must be on one acre of land.
There is no way I would ever pay 2 million dollars to live in a tract home in Irvine.
>>The backyard is quite large and boy is that pool nice!
Got truncated from previous:
Another conspicuous consumption of the RE bubble by product. As the bubble deflates, the pool becomes never ending maintenance nightmare.
“We used to eat out a lot. Now we are the leftover king and queen,” said Kent.”
Yeah and I am sure they weren’t eating at El Torito Grill, Pei Wei or Pasta Pomodoro….
I can’t believe they cashed in her 401K – some forward thinking there!
The same quotes jumped out at me. Doesn’t a fully loaded Suburban cost about as much as a Vette anyway? Not much of a step down there, except maybe in vanity.
And yeah, I love the line about “we can’t get what our home is worth.” This from a guy in the real estate business.
Give the guy some credit. He’s going after a Real Estate license now! Genius.
I wouldn’t pay $2MM to live in a tract home in suburban Chicago, and it looks like nobody else will, either, even folks much richer than me.
An absolutely beautiful house, a real palace, in Hinsdale, one of our most high end burbs, sold for $3.4 MM in 2006, but went at the foreclosure auction not 2 years later for about $1.4 MM, and it makes this Irvine tract home look like a servant’s shanty compared. No “media niches” in the Hinsdale palace, either- we are talking a truly palatial home with traditional elegance- parquet floors, stone fireplaces, incredible millwork throughout, large formal dining room, a large kitchen totally segregated from the rest of the house with a butler’s pantry, and 4 huge bedrooms, 4 immense baths, and two half-baths.
It also looks like nobody wants to pay $2MM for comparable condos in downtown Chicago anymore, either. It is an absolute bloodletting down there. Units that sold for $600K two years ago are in foreclosure and being offered as low as $259K. Glamour cribs that cost $2MM at the peak are being auctioned off under $1MM. There is 3 years worth of inventory down there, and more is piling up as all the units sold to flippers at 20 or 30 units per sale are going to foreclosure. Were these people INSANE? Did anyone building or lending or flipping (or flopping) ever do the demographics to see just how many Chicago buyers actually qualify to buy condos costing $500K to $3.5MM?
The glory days of spec are surely over. We won’t see a binge like that of the past 6 years for at least another half-century. It’ll probably take that long to recover from this one.
On another track, what is it with the “media niches” so many builders built into houses and condos? Like I want to be told where to hook up my computer or flatscreen. Looked at an ugly new $600K condo in which a 24″ wide computer niche had been built into the foyer wall opposite the open kitchen. Why would I want to sit in a narrow hall at a tiny niche with no drawers and no place to put stuff, to work on my computer? Who thinks of stuff like this?
My co-worker lives on Heron, so I’ve passed by these two houses many times. (111 and 112 Nighthawk). They are both in horrible locations, lots of traffic especially during school hours, there’s a middle school just a few steps away. I can hardly make a left turn coming out on Heron during drop off and pick up times on school days. There are also cars parked in front of 111 and 112 waiting for their kids. And kids hanging out on Nighthawk and W. Yale Loop with their skateboards, basically all around 111. BTW, 111 has a nice fleet of Mercedes in their garage and on the driveways. I do like their pool though…
Ooooo ooo my turn:
“Is there anything I can do to make you feel better?”
“I’d feel much better if I could find an easy way out. Creditors harass me all day long, I’m always stressed out, I can’t pay my $7,000 mortgage, and I can’t make the minimum payments on my credit cards.”
“I really feel sorry for you. I really really do. Did you sell the SLR roadster and the 7 series yet?”
“No, I shouldn’t have to sell my luxury cars. I used to make $250,000 per year!”
“I understand, I understand, now just calm down Mr. Anderson. Tell me Mr. Anderson, how much money are you making now?”
“Just $450 per week, from the state of California, and that doesn’t even cover my family’s cellular phone bill! All five of us have 8GB iPhones that cost over $500 each, and with the all the text messages, ringtones, screensavers, and news, sports, and data subscription fees…”
“Pardon the interruption. But look on the bright side Mr. Anderson, you look like a healthy individual, have you tried getting another job?”
“Yeah I have, but see the subprime crisis happened and all the high paying jobs…”
“Ah the subprime crisis. I’m so sorry Mr. Anderson, I read about that in the newspaper. Apparently everyone in the industry lost their jobs over night. It was staggering. Their jobs just vanished without any warning. They had no idea that the business they were engaged in was highly unstable and they were led to believe that their job and benefits was secured forever–like a government job.”
“Exactly. I’m so glad you understand.”
“Tell me, what was your cash flow at your mortgage job during the last three years? from 2003-2006?”
“Like I said, I made over $250,000 per year. I was making like $21,000 per month with bonuses. I had as many as six people working directly under me. I had promotions and bonuses every three to six months, our company had lavish sales retreats, elaborate Christmas parties, and if we wore Hawaiian shirts on Friday we got free frozen yogurt ice cream with gummy bear toppings delivered directly to our desks.”
“I see. How much did you make at your job before your mortgage job?”
“Well, not much. I was working at In-N-Out burger for $9 an hour.”
“Ah I see. How did you obtain your mortgage job?”
“My old fraternity buddy at Penetrode Financial got me the job.”
“Ah I see. And have you tried looking for a job since you were layed off last year?”
“Well of course. But there aren’t any jobs in the mortgage or lending industries right now.”
“Have you tried looking outside of the lending and real estate market?”
“Not really because that all I know. I went on craigslist looking for finance and managment jobs but everything only pays about 60-80K/year. Thats only one quarter of what I used to make! That won’t even cover my home equity line payments.”
“What makes you think you are worth what you used to make?”
“Because I used to make it! If I could do it before, I should be able to do it again. The mortgage company knew what I was worth. I shouldn’t have to go backwards in salary. I’m entitled to it. I won’t accept anything less.”
“Hmm, I see. Well it looks like our time is up. I’d like to schedule our next appointment for the following week at noon. You don’t need to come by my office, I’ll come to you at your next location of employment: In-N-Out burger. Please have a double double animal style, fries and a Vanilla shake ready for me.”
Since when has it become horrible to live next to a school? If anything, living in close proximity to schools is more desirable.
This home is in a beautiful location. It is right next to east yale lake and the traffic on East yale is not bad at all. The Stonecreek pool and tennis courts are just a short walk away, and so are the lake tennis courts and the beach club. No offense but you are living in a fantasy world if you think traffic is bad in this area of Woodbridge, or any area of woodbridge for that matter.
WHY?
There are so many in OC that are like this couple featured in the money/cnn article. But the denial is so deep in OC it is unreal: go to Lansner’s blog and look at the fool comments posted by all the permabulls. The you-know-what will soon hit the fan for this poor couple, whereupon the “Orange County Housewives” lifestyle they had will be a distant memory. Multiply this pair by the thousands and you can see what is in store for OC real estate values: yet they talk of a 2009 bottom on the Lansner blog today, what ostriches!
as a wannabe sugar daddy, I protest and ask all hot young chicks to consider ditching their inexperienced others and consider us dirty old men instead: we got the money and you got the honey.
The home mortgage industry -like many other service industries- does not create GNP for the country. It’s an even deal and someone has to pay for their services.
They always wanted faxes and would not accept emailed or electronic forms. Why? So they could retype them?
For example, we’ve refinanced our home four times, last in 03. Every time we did we had to pay title insurance. Why? And why points?
I’m anal rententive when it comes to figures and forms, so every time I did a deal I made sure that _every_ t was crossed and _every_ i was dotted. Yet, the brokers would invariably screw up.
The worst was with the rental house. Somehow a mix up between the escrow company and the country put a lien on my record to the tune of 300 bucks. Both parties admitted than an error had been made but it came down to me to clean things up and still my credit record took a big ding. I could have sued… but hey…
So, IMHO, as much as I think that there is a need for mortgage brokers and escrow companies, the fees they demand(ed) are(were) simply out of line and it was only their incestous lock on the market that created a de facto monopoly where huge fees for meaningless work got charged and no alternatives existed.
Only attorneys get away with it.
The RE industry is in for a rude shock. I don’t believe the future will support such again. Those fees and “faxed” papers are on the way out and competition will breed out those who think they can charge five figures just to shuffle some paper around for three days.
Its’ all for the good. This is what Greenspan calls creative destruction and will yield a much more efficient RE industry.
RE agents and brokers do work, but the rest are just paper pushers.
It is not an uncommon belief in RE (at least from ppl I’ve talked to) that living right next to a school is a negative, for issues like traffic and noise.
Nothing wrong with being close to a school – in fact, it was nice for me growing up since I could walk to school for a few years – but you would rather not be right next door or anything.
How bad it actually is for the subject property, I don’t know.
There’s another home in Woodbridge with WTF pricing as well.
http://www.socalmls-homes.com/Listing/ListingDetail.aspx?Listing=29840590
I rent a home in walking distance to these homes, and the parked cars on Nighthawk are terrible. I was talking to one of the realtors that live in that cul-de-sac that there have been discussions about the parked cars, but there’s really nothing to be done as these are the older’s kids that still are at home, but of driving age.
The drivers on Heron, Lemongrass, Nighthawk, Sandstone are way too fast. They are in such a hurry to drop their kids off at that middle school nearby. THey drive faster on these streets than they do on Culver, seriously. There are lots of school functions and it is annoying to have someone park their car in front of your house/mailbox for hours at a time.
Well said. Thank God for Viagra, even though this guy can’t afford it any more.
the owner was at one time the president of this company ….
http://www.secinfo.com/d1ztfh.ubd.htm
I live across the street from one of these loan sharks whose was big pimpin’ a few years ago. You know – parking the Lexus convertible in the driveway at an angle so everyone would notice, next to the boat.
He was a young actor in the ’70’s and had a TV show. We’ll call him Paulie. Last year when the bad times hit, Paulie befriended Artie. Artie was the father of Paulie’s daughter’s 12 year old friend. After all, Artie had a thriving insurance business.
After a week or two Paulie convinced Artie to give him a job in the agency selling insurance. After all that’s when friends are for.
A couple of months later Artie discovered that Paulie was calling up his clients and trying to take them away!
The kicker is that the guy in the picture looks very much like “Paulie.”
I would have found this couple’s situation really frustrating had they relinquished this lavish lifestyle for more realistic pastures (basically taking the money and running). But these fools did exactly what all of us could only hope for. Cashing in their 401k’s, selling mega-egomaniac cars for lesser expensive vehicles (albeit totally inefficient), all in an effort to stay current on their eye-popping overhead of 10k a month. What a dream situation this is. They are effectively helping to prop up the economy by continuing to consume and in the process bankrupting themselves.
Since when has it become horrible to live next to a school?
It became horrible to live right next to a school when everyone decided they needed to drive their little porker of a kid to and from school in a 2 ton tank because of all the bogeymen out there, turning the neighborhood into a parking lot twice a day.
“There are so many in OC that are like this couple featured in the money/cnn article.”
I can’t help thinking the same thing. I know a few families who have lost their income recently, and all of them are borrowing until the funds run out to support the lifestyle they are entitled to. The fallout from this mess has just begun, and OC is not showing the signs yet — except for maybe the for-sale signs…
Whoever heard of an unemployed sugar daddy. That woman is a @#$%@#$%. How can she go to bed with an old man whose face is red. Disgusting.
Isn’t a red face a sign of excessive drinking?
This is getting a bit personal…
Just in from the NYT :
“The Senate measure is also expected to include several tax provisions, including a credit of at least $5,000 for purchasers of foreclosed properties or newly built homes that have been sitting vacant, and a break for struggling home-builders, allowing them to claim current losses against taxes paid in prior more profitable years. This provision, intended to aid home builders, would cost about $15 billion in the first year.”
http://www.nytimes.com/2008/04/02/washington/02cnd-cong.html?ex=1364875200&en=aeb6923c0e9b5e89&ei=5088&partner=rssnyt&emc=rss
The Bailout Checklist:
Local subsidy to the mortgage industry via tax exempt bonds – check
$5,000-$15,000 per house to mortgage/builder industry via homeowners willing to pay more because of tax credit – check
Aid to local builders – check
Next thing they’ll think of is that somehow this is all the fault of people living in apartments that are obviously too cheap. So we’ll get an excise tax based on the amount of rent we pay.
Currently in Harbor View Homes there are 31 homes for sale. 1 taking back-up offers, 1 pending. The area has been averaging one closing per month for the last 6 months.
20 years? Are you sure? That’s too generous of you.
With depression looming, I say not in the owner’s lifetime 🙂
Is it me or did the guy got himself a jailbait?
Is that 3 sides facing roads? Ideal location for a gas station or a Kwik-E-Mart.
$15000.00 might help in some areas but $15000.00 off 2 mill or even 1 mill asking prices like here in Irvine is nothing.
Gawd, that woman is FUGLY. Since she’s “working” from home, she’ll be fat as a cow within a year (sitting on her ass eating bon bons). And Im willing to bet her husband leaves her for a younger, dumber, bleached blonde.
Hey, that’s been the “OC lifestyle” over the last few years. 😉
She’s not that bad. Pretty good catch for a guy in his late 50’s I’d say. I think she’ll stay thin, but streak her own hair from now on. It’s cool to be “fat as a cow” in the OC!
She not that bad. Pretty good catch for a guy in his late 50’s I’d say. I don’t think she’ll end up fat. Not cool in the OC! She will have to streak her own hair though.
I didn’t know you could order Schadenfreude animal style…..
is that on the IHB secret menu?
The real sad thing about this entire real estate fiasco, is that the “haves” (current buble owners) are blind to the fact that everyone is trying to perpetuate the scam……….by……saving…….. their…….. house.
Lke the dumb ass buble owner featured in the article………your house is worthless, you paid double the actual value, it will be 15 years before you see those prices again.
Walk away, let the bank eat the loss for making such a stupid loan and free yourself from the home debtors prison. The longer you wait, the more money you are throwing down the toilet and not putting back into the economy in the form of durable goods and services. That is the ONLY
(Oops posted early for some reason)
that the economy can get back on its feet. It cant survive if 30% of the homeowners are spending 60% of ther income on debt service…….
Well said, Tonye.
I lived in the Port Streets for many years. All I can say is: Look out below.
he’s having the same tunnel vision and wearing the same pink colored glasses than the dot commers after the 2000/2001 dot com implosion: many dot commers were laid off and started…another dot com company!
Thanks, someone. Delisted. That’ll do a number on your net worth…
Yeah, I agree, IR. Leave the personal stuff out of it.
Hey guys, new term to descibe these people…
“Recovering Homeowners”
Definition:
Someone who was addicted to living in a home they couldn’t possibly afford and is now going thru personal and financial withdrawls. Analagous to drug addictiction. Symptoms… magical thinking with emotional exhibitions of anger and frustration. Highly associated with depression, in some cases with suicidal tendencies. Probably duration 1-2 years with or without treatment. Treatment — large doses of reality such has reading IHB.
I hear of investors purchasing homes in Detroit for $20k that were previously valued at 80k. If we could just bump up that 15k credit for people buying distressed homes up to 20k, we can all have ourselves a free home courtesy of pandering politicians like Sen. Harry Reid. …though I am not sure any of us want to live in Detroit?
Hey, if you sweep the floors in that Detroit house you probably can come up with another $20k of crack, so your already ahead. Then just get a fire insurance policy and wait for the place to burn down for another $20k.
Money for nothing!!
Sorry, IR. But I can’t help but delight in the fall of these types.
I live around some of them. They are arrogant, pompous and conceited when times are good. They sneer at “working stiffs” that produce a valuable product or service with their hands year after year while they lie to, deceive and hoodwink their freinds, neighbors and coworkers without remorse.
I’ll show restraint in the future.
Pretty good choice to picture a F-117. Heinously expensive, impossible to fly without computer and major ground support . You could buy a fleet of Predators and a F-18 and a radar-jamming system for the price of one of those things.
Just like the house 🙂
Don’t forget to pull all the copper, bronze and aluminum out first — don’t want to pass on half the value when the crack addicts doing 8-balls burn the place down.
to maintain decorum, I petition for a removal of the “@#$%@#$^&^” comment.
IHB note: done.
Seconded. That kind of comment is beneath IHB.
I heard that the percentage of high school graduates is about 25% in detroit.
thirded…
Although it would appear from her resume that this indeed could be a sugar daddy kind of deal. I can’t believe a woman, with a 2-year degree in fashion, could go from marketing assistant to VP of a publicly-traded company in four short years. That kind of meteroic rise is not often based on merit.
He is also a patent holder on some kind of toilet backflow preventer. I would post the link, but that would reveal the name. For those of you who have property access, google the guys name, and you will see it.
Great comments! I’ll bet these two jokers thought they’d tell their “woe is me” story to CNN and it might somehow help them in their plight.
Talk about deluded. The only thing they accomplished is to demonstrate their deeply ingrained foolishness and incompetence. As someone pointed out, if you saw this story then saw their resume cross your desk … would you honestly give them a second look?
At the risk of making this too personal … I can’t help pointing out fact this guys completely fails to see what a cliche he is. He’s 59, meaning Mysti is likely Wife 2.0 and he was formerly driving a Corvette. Can you get any more mid-life crisis than that? Traded-in the vette for an SUV, not a smart choice given the upward pressure on fuel prices. I’ll bet dollars to donuts the house is in Talega, McMansion HQ. Best of all … He helped create the implosion and now he’s going to try to get a job helping to dig the hole deeper? Good grief.
This really is a very nice house, tastefully decorated if not slightly over the top but not nearly as egregious as many I’ve seen. Anyone else notice the general lack of artwork on the walls? A few baubles and other Pottery Barn finds but not much in the way of actual paintings, a true mark of taste and sophistication in my mind.
It is certain a good deal of the serial refinancing went into the remodel of both the interior and backyard. That pool, outdoor bar and hardscaping easily ran them $250-300K. The pergraniteel kitchen was another $80K, flooring $100K, assorted do-dads and furniture, $20-30K. Voila! half a million bucks right there!
Add in the two obligatory MB S-Class sleds and you’re talking three quarter of a million bucks in consumption in danger of exiting the economy. Ouch.
The capper for me is simply this … if I were making $500K/yr., I doubt this would be my dream home. It just doesn’t compute. Bubblicious indeed!
Am I missing something? Resume? Was there a link I didn’t see?
How typical that a liberal blog censors free speech. Yes, liberals claim to love free speech until they don’t like what you are saying.
I saw nothing wrong with the comment. And it certainly wasn’t a personal attack against anyone, but merely a general observation made about the descendants of Eve. An observation that is backed up by the Bible.
If you want to censor something then this whole anti-house blog should be censored. You people are fear mongering economic terrorists that are destroying the wealth that good hard working Americans created. By the time you people are through we won’t be able to fund the war on terror and the Muslims will overrun this country, put our women in burkas, put our children in madrasahs and ban Christianity.
I hope this site, and others like it, are shutdown before it is too late.
Good idea. While we’re at it, let’s shut down e-Blogger too. Gotta be more than a few commie-pinko, granola chewing, tree-huggers lurking there too. 😀
Certain towns in Connecticut have that 1 acre minimum per house, including my town! It’s nice to have some elbow room.
Laura, How is Trump’s project doing? Is it completed yet?
Karma will get ‘cha every time.
Check the forums NSR. I found her resume posted on Monster…
http://forums.irvinehousingblog.com/discussion/1942/reality-check-for-subprime-employees-in-san-clemente/#Item_18
The Trump-Dump is open.
The condo glut in Chicago is getting worse as projects that were started before the market deflation are now being completed.
Let the Chicago bargain hunt begin!
Ah, I see.
Unemployment is $450 a week?
That’s actually not bad. When I was on unemployment in the 90’s, it was $230 a week.
I wonder why his wife isn’t getting unemployment — that is, unless she is and I misread this quote (“Today, they’re trying to get by on his unemployment benefits”).
$3600/month for a couple laid off is a much better cushion for people with reasonable expenses. You’d still be spending your savings but it’s a lot better than it was.
And what’s up with unemployment benefits being taxed? That’s just wrong.
Censor him! He said a bad word. Wah wah wah wah. What a bunch babies on this blog. Pathetic idiots.
yeah Tan, the max on UI has gone up quite a bit over recent years. It’s around $1700 per month I think. I was wondering why she wasn’t collecting too…
I’d bet their COBRA costs for health insurance are probably over $1K per month so that $450/week doesn’t go very far.
So why are you reading and posting here if you have a problem with general civility? It’s so much more pathetic to participate in something while whining and crying about it at the same time… If you don’t like it, just tune out. You’ve probably got better things to do and your observations are not likely to be missed so it’ll be a win-win for all.
I just noticed that the listing information on this changed dropping the square footage from 3,900 down to 3,734 making the effective price per sq. ft. $535!
I previewed this house during broker preview on Wednesday and while it is very nice – I just don’t see where they are going to get anywhere near this asking price considering all of the other options out there for $2MM.