I know, I know... <a href="http://www.irvinehousingblog.com/blog/comments/marquee-park-place-high-rise-hell/">the blog reviewed this post a few months ago</a>, but I just can't get over the PR blitzkrieg the employees laid on us back in December of 2006. Anyway, I have to post some of the comments just for pure schadenfreude bliss.
<em> Astute Observation by Marquee - High Rise Heaven
To Irvine Renter - You must be the originator of this blog since you seem to be the driver behind the dialogue here, and you sound like a starving residential real estate broker trying to drum up business to sell your non-high rise single family home listings in Irvine. Why else would you be spending so much time trying to figure out this property. Haha! I?ve never read so much from one person on a high rise who doesn?t appear to have had the knowledge or opportunity to own or live in one yourself. Only throwing rocks at our windows! You have no idea about HOA dues, just do your homework - try the LA Wilshire corridor for example where some units are being charged as much as $6,000 per month, or many of the other high rise properties in CA or Hawaii, or - just anywhere. Also check out the price per square foot for any new high rise construction. There are investors right now quietly picking away at the resales - and both sides are making profits. Yes, there are investors who are trying to sell out their investment units all around S. CA. to get through any potential extended downturns in real estate, however I know one investor who is selling out many of his properties in S. CA, but keeping back his Marquee unit out of his entire portfolio of properties -Why? Its a crown jewel property, great location, stand alone project in the middle of a high end masterplanned community, price per square foot construction and their cost basis - and in just one week they tell me they got (8) eight calls to rent their unit at the Marquee - so now they have all their carrying costs paid for. Where can you buy a nice property today with excellent potential upside and get all of its carrying costs paid for in a great location in OC? So about your comment about renting a unit so it covers the dues and taxes? That?s splendid from an investor?s standpoint, as its then a free ride to the time when the high rise matures and the market swings back and prices push up. For the renter? Its also a great deal, reasonable rent, a fabulous place to live in, but the downside for the renter is that all the profits, if the unit sells, goes to the ?smart? investor. If you are a homeowner and don?t plan to sell your unit anytime soon, that?s fabulous too, you get the absolute BEST of BOTH worlds. By the way, not all the units are the same, so as an ?outsider? you just can?t judge just on price per square foot and level of the unit as the true valuation. Each unit has different views and assets and they vary from fabulous to not so fabulous - just like full and partial ocean views and garden views - the values will vary widely.
As far as what is happening at the Marquee - we?re just going to keep that to ourselves. Alot is going on, and its all exciting. We don?t need to tip off the competition, but when you walk in as a homeowner or renter we want you to feel that you are in your own exclusive palace with your staff including your concierge at your beck and call, a very special experience that is brand new to OC. We have a very proactive developer, a very hands on HOA board with high standards and committees with people who are do-ers. Doctors, lawyers, CEO?s of corporations, international business people, rock stars, athletes, Hollywood producers, and just regular folk - the Marquee has already attracted a diverse, very upscale group which makes it a very exciting community.
The place is barely one year old, and it is evolving quite nicely! Shhh - don?t tell anyone! haha!
Astute Observation by George
I live at Marquee Park Place and must say, it has been the best move I have ever made. Obviously, the negative comments about this high-end style of living is precipitated from people that simply can?t afford this lifestyle and have no clue about the cornucopia of amenities that are offered here. How can anyone complain about 10 restaurants, a grocery store and an abundance of awesome retail within walking distance from home? Or how about a 3 minute cab drive to the airport? Or 2 minutes to the 405 freeway onramp and close proximity to millions of square feet of Class A office space? Several months ago I watched the Bush presidential entourage drive from the airport to the Hyatt. Two black helicopters were scoping rooftops and police were stationed at ever intersection. I viewed all this from my 12th floor condo while sipping coffee on my sofa. It was like watching an Arnold movie - very cool! Daily, I watch jets making there final approach to John Wayne Airport. It is also very surreal to watch these jets execute their rapid assent like rocket ships into orbit. How would you like to call from your cell phone and speak to the concierge in order to have them meet you at your reserved parking stall with a hotel style luggage carrier? Groceries and all your personal affects are whisked up to your condo with gratuities not allowed. Within minutes you are enjoying the bright spectrum of distant colors better known as the sunset!
Simply said, those that have comments that are anything but positive are alluding themselves. Marquee Park Place is a great place to live!
Astute Observation by Jacqueline
I live at the Marquee and it is the best decision I ever made! I bought as soon as units were for sale, before it was built, because I wanted a brand new single-level turn-key place in this area, and it had more square footage than any single-level I could find here--and I had looked for that for years. I really do love it here and always enjoy coming home.
After owning a home for many years, I didn?t ever want to deal with all the maintenance, repairs, yard, roof, etc., etc. again. I absolutely love not having anything like that to take care of; always being greeted at the gate; always helped with whatever I need by the concierges; having many new and interesting friends; and being part of a ?community?.
I never hear my neighbors or any outside noise unless I open my double-pained windows or go out to enjoy the view from my deck.
Being born in raised in California, I have been through so many earthquakes ? so I spoke to an independent engineer about this place and am thrilled to know it was built far-above Irvine City building and earthquake requirements. Not worried at all.
I plan to live at the Marquee for a long time and am sure it will turn out to be a great investment.</em>
Wow! What a great job their marketing department did. Now, I just wonder which one of these douchebags is in foreclosure?
IR said it best in that thread...
<em>Marquee Park Place is the finest property in all of Orange County. The residents there are the best of the best, and they made a wise decision to buy in such a great place. No matter what happens in the rest of the residential market, these wonderful ?homes? will never decline in value. In fact, they will probably continue to appreciate at double digit rates making all the early buyers wealthy beyond all their dreams.
You were right; I was wrong; I am sorry.</em>
Snark at its finest there my IHBers. Be sure to click the link, I read the comments that night and I nearly died from the Kool-Aid OD. Thank gawd for IR's snark, or I just might not be here today.
