Anyone been watching the Towering Inferno at Marquee Place?

NEW -> Contingent Buyer Assistance Program
[quote author="Cubic Zirconia" date=1228354583]Four sales in a year? Something is not right here- either the website or the sale.



CZ</blockquote>


Bank buying at auction
 
Here is a good one to read.

The December 2008 Marquee Newsletter.



<a href="http://www.marqueeparkplace.org/FeatureHost.aspx?type=listView&id=256">http://www.marqueeparkplace.org/FeatureHost.aspx?type=listView&id=256</a>
 
That is a really pretty picture in this guys crystal ball or the delusional ramblings of a madman...you pick



"The future at Marquee Park Place is bright! Challenges come with all real estate and

economic down cycles. Like all cycles, this one will eventually turn back to a Northerly

direction. Park place will be acquired by a strong entity capable of completing our

mixed-use project with substantially more dining, retail, office and entertainment for our

enjoyment. Additionally, Marquee is located at the heart of future pedestrian and

transportation friendly Irvine City projects, providing direct access to Marquee."
 
Dont forget that Tom Testa is after all a Mortgage/RE Broker.

Looks like he is not doing so well in this market gone south.

Kind of like his investment at Marquee.

Forget south. Lets say UNDERWATER.



Pretty cheesy website IMO.

<a href="http://testacapitalgroup.com/">http://testacapitalgroup.com/</a>



Looks like he is doing "Hardmoney" loan sharking these days.
 
[quote author="bltserv" date=1228358192]Dont forget that Tom Testa is after all a Mortgage/RE Broker.

Looks like he is not doing so well in this market gone south.

Kind of like his investment at Marquee.

Forget south. Lets say UNDERWATER.



Pretty cheesy website IMO.

<a href="http://testacapitalgroup.com/">http://testacapitalgroup.com/</a>



Looks like he is doing "Hardmoney" loan sharking these days.</blockquote>




How funny, click "about us". Please come back soon!
 
Add some more fuel to the fire... 1305 in the 3141 building has a new owner since Friday... the bank. The NTS was $1,174,380, but the bank was willing to cut that by 30% to $828,750. What!? No takers for 30% off of what was owed is not enough to live in such a prestigious piece of luxurious OC real estate?
 
Just think as an owner how it must be to watch the forclosures and the HOA dues

just keep going up up and away.



Looks like the HOA fees are about to increase up from $1200.00 to $1300.00 Plus.



For that kind of money you should get free Escort Service included.
 
[quote author="bltserv" date=1229502513]Just think as an owner how it must be to watch the forclosures and the HOA dues

just keep going up up and away.



Looks like the HOA fees are about to increase up from $1200.00 to $1300.00 Plus.



For that kind of money you should get free Escort Service included.</blockquote>


What are you talking about? You most certainly are getting F|_|CKED if you live there.
 
[quote author="bltserv" date=1229502513]Just think as an owner how it must be to watch the forclosures and the HOA dues

just keep going up up and away. </blockquote>


I got an idea:



<img src="http://ambermoon.files.wordpress.com/2008/07/445_burning_money.jpg" alt="" />



Stippers and blow are a far more useful excuse for bankrupcy. A better story too.
 
Unfortunately, for the builders, this one was already completed at the wrong time. I guess they need to milk it for all they can get until the whole thing goes belly up. The buyers are screwed. At least they aren't sitting on something Skyline in SA which is about ready to become rentals. Then we have the desperation of the City Place near my house in N. SA, almost completely empty and 50% off of the original price with no buyers.
 
heh, heh....fire, fire, fire..heh, heh, heh



<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
Ok, heres the thing, honestly I'm a sucker for views. If I was making enough money, *and* prices were reasonable, I'd consider paying a bit of a premium to live in one of the nicer units vs. your standard townhome or whatnot.



My question to the rest of you is how much of a premium would you pay for the views/highrise living. Lets assume its over an equivelent attached home with similar upgrades in Irvine. 50k? 20k more? 100k? You wouldn't pay any premium? Curious what people think.
 
I wouldn't pay much for a view of an empty office building and parking lot. But you cah see through the building to the 405 if you want.
 
i think a nice highrise condo has some merits vs a traditional townhome or low-rise condos. pros and cons, but keep in mind you pay for all the pros in the form of very high HOAs. so as far as purchase price goes, i wouldn't expect to pay any premium.
 
what acpme said.



and equivalency assumes that you have a good view (e.g. to the nature preserve and/or beach/mountains) and not the 405fwy or the back of an office building.



if you don't have a good view, due to the increased HOA needed to support a building, I would expect to pay less than for an equivalent townhouse.
 
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