jcaraway_IHB
New member
Ha ha ha ha! Awesome! Okay Mia, do you have your DRE white reports are you still on pinks?
Anyone been watching the Towering Inferno at Marquee Place?
- Thread starter morekaos_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
optimusubprime_IHB
New member
<p>Tough times at Aqua, got this email today:</p>
Greetings from AQUA,
With the spring season upon us, AQUA is excited to announce our final closeout sale. On Saturday, April 5<sup>th </sup>from 12-4 our exclusive <strong>Lifestyle Demonstration & Sales Event</strong> will showcase the few remaining homes coupled with the largest incentive we have ever offered:
<strong>$80,000 to spend any way you wish when you purchase at AQUA!</strong>
Now ask yourself, how would you choose to spend it?
Pay Your HOA Dues For The Next Few Years?
Upgrade the Interior of your Home?
Buy Down Your Interest Rate?
Reduce Your Sales Price?
Purchase a Plasma TV or New Furniture?
>
Greetings from AQUA,
With the spring season upon us, AQUA is excited to announce our final closeout sale. On Saturday, April 5<sup>th </sup>from 12-4 our exclusive <strong>Lifestyle Demonstration & Sales Event</strong> will showcase the few remaining homes coupled with the largest incentive we have ever offered:
<strong>$80,000 to spend any way you wish when you purchase at AQUA!</strong>
Now ask yourself, how would you choose to spend it?
Pay Your HOA Dues For The Next Few Years?
Upgrade the Interior of your Home?
Buy Down Your Interest Rate?
Reduce Your Sales Price?
Purchase a Plasma TV or New Furniture?
>
jcaraway_IHB
New member
Mia, how many units do you have under contract? What conditions remain outstanding that have caused lennar not to file for a white?
Trooper_IHB
New member
<p>wow, this is getting good jc ! Poor Mia isn't going to know what hit her.</p>
<p>optimus, did Aqua include a current price sheet with that email ? </p>
<p> </p>
<p>optimus, did Aqua include a current price sheet with that email ? </p>
<p> </p>
optimusubprime_IHB
New member
No price sheet... that would be good laughs. Just looking out my window, I see only 9 out of 68 units on my side that have their lights on. Giving them the benefit of the doubt, it looks like Aqua is about 25% occupied.
lawyerliz_IHB
New member
Guys, be nice to Mia, she was polite and has no idea what she got herself into.
Trooper_IHB
New member
Not if she's going to spout that "Now's a great time to buy" crap.
FairEconomist_IHB
New member
Well, she hasn't yet, Trooper. I think factual corrections from people involved in these projects should be welcomed.
bltserv_IHB
New member
Mia
Thank you so much for taking the time to post a response to my mention of the signage removal at Astoria.
Your always welcome here at IHB.
bltserv
Thank you so much for taking the time to post a response to my mention of the signage removal at Astoria.
Your always welcome here at IHB.
bltserv
EvaLSeraphim_IHB
New member
Hi Mia,
Thanks for the info. We looked at Astoria awhile back and felt it wasn't for us. If you are interested in feedback, I'm happy to share.
Thanks for the info. We looked at Astoria awhile back and felt it wasn't for us. If you are interested in feedback, I'm happy to share.
morekaos_IHB
New member
Yah, Thanks MIa, Takes some guts to do that here but I appreciate all the views and inputs. Keep on blog'n
jcaraway_IHB
New member
a white report has to be filed with the california department of real estate in order to go to sign a contract, put money and escrow and close.
a yellow is one step below and is not always filed by the developer, typically it's only filed when the developer is in a rush to get buyers under contract while they are trying to fufill some conditions outstanding on their white (i.e. filing subdivision), i think at this point, having a yellow allows the developer to back out still, but not the buyer, however, it's still very easy for the buyer to back out because if there is any miniscule change in the interim between the white and yellow, the buyer can claim they didn't know what they were getting into and back out.
Pink is just to get a sales center open and start advertising, they can only take a deposit check that is fully refundable at the buyer's request.
I've done a little work on this stuff and it's extremely tedious and confusing.
a yellow is one step below and is not always filed by the developer, typically it's only filed when the developer is in a rush to get buyers under contract while they are trying to fufill some conditions outstanding on their white (i.e. filing subdivision), i think at this point, having a yellow allows the developer to back out still, but not the buyer, however, it's still very easy for the buyer to back out because if there is any miniscule change in the interim between the white and yellow, the buyer can claim they didn't know what they were getting into and back out.
Pink is just to get a sales center open and start advertising, they can only take a deposit check that is fully refundable at the buyer's request.
I've done a little work on this stuff and it's extremely tedious and confusing.
morekaos_IHB
New member
<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=461003">http://www.redfin.com/stingray/do/printable-listing?listing-id=461003</a></p>
<p>Price: $799,990 </p>
<p>
On Redfin:
701 days
</p>
<p>Dues #1: $1,122.98 </p>
Listing Price History
<thead>
Date
Price
</thead>
Jan 29, 2007
$869,999
Feb 23, 2007
$839,999
Nov 13, 2007
$829,999
Mar 10, 2008
$799,990
How long can this last? Roughly $26,000.00 in dues at least $70,000.00 in mortgage payments, $15,000.00 in taxes and God knows how much in PMI but what the hell, how can you put a price tag on "pride of ownership" and socio-econmic status?
<p>Price: $799,990 </p>
<p>
On Redfin:
701 days
</p>
<p>Dues #1: $1,122.98 </p>
Listing Price History
<thead>
Date
Price
</thead>
Jan 29, 2007
$869,999
Feb 23, 2007
$839,999
Nov 13, 2007
$829,999
Mar 10, 2008
$799,990
How long can this last? Roughly $26,000.00 in dues at least $70,000.00 in mortgage payments, $15,000.00 in taxes and God knows how much in PMI but what the hell, how can you put a price tag on "pride of ownership" and socio-econmic status?
morekaos_IHB
New member
I know this is flogging a dead horse but I wish I had this kind of money to burn...(I suppose that is a form of envy)
http://www.redfin.com/stingray/do/printable-listing?listing-id=520292
416 days for sale, empty from the looks of it, $15,000 in dues, $25,000 in taxes, a rather disturbing amount in mortgage payments and this guy has the stones to do only one lousy price reduction in over a year. Man, that is liquidity and a threshold for pain like I have never seen. This guy is either one cool customer with ice for blood or he passed away 416 days ago and they are still lookn for the body
http://www.redfin.com/stingray/do/printable-listing?listing-id=520292
416 days for sale, empty from the looks of it, $15,000 in dues, $25,000 in taxes, a rather disturbing amount in mortgage payments and this guy has the stones to do only one lousy price reduction in over a year. Man, that is liquidity and a threshold for pain like I have never seen. This guy is either one cool customer with ice for blood or he passed away 416 days ago and they are still lookn for the body
morekaos_IHB
New member
Time to revisit an old friend....Six figure mortgage, $10,816.00 in property taxes, $30,429.00 in HOA, 6% sales commission = one hurting FB
http://www.redfin.com/CA/Irvine/3141-Michelson-Dr-92612/unit-406/home/7219080
3141 Michelson Dr #406
Irvine, CA 92612
Price: <span style="color: green;"><span style="font-size: 13px;"><strong>$795,000 </strong></span></span>
Listing Price History
Date Price
Apr 22, 2008 $824,900
Apr 29, 2008 $795,000
Purchased
Date Price
<strong>Feb 15, 2006 $777,500 -- </strong>
Taxable Value
Land $289,472
Additions $503,236
Total $792,708
<strong>2006 Property Tax: $5,408 </strong>
<strong>Dues #1: $1,127.00</strong>
Dues #1 Frequency: Monthly
http://www.redfin.com/CA/Irvine/3141-Michelson-Dr-92612/unit-406/home/7219080
3141 Michelson Dr #406
Irvine, CA 92612
Price: <span style="color: green;"><span style="font-size: 13px;"><strong>$795,000 </strong></span></span>
Listing Price History
Date Price
Apr 22, 2008 $824,900
Apr 29, 2008 $795,000
Purchased
Date Price
<strong>Feb 15, 2006 $777,500 -- </strong>
Taxable Value
Land $289,472
Additions $503,236
Total $792,708
<strong>2006 Property Tax: $5,408 </strong>
<strong>Dues #1: $1,127.00</strong>
Dues #1 Frequency: Monthly
bltserv_IHB
New member
Saturday Night I had dinner at Houston`s down below the "North Korea" towers.
Still looks pretty dark at night. Maybe 15% occupied from the lights that are on.
Just the thought of $ 1200.00 a month in association dues
gives me the chills. I wonder what you could rent one of these for ?
Maybe half what it costs to own ? I would think the one in the last post would go for
$ 3000.00 a month in rent. Yet the Mortgage payment on $ 800K at a 30 Year with 20% down would still be closer to $ 4500.00 and dont forget that nice $ 1200.00 a month dues too.
You got to be drinkin some serious Kool-Aid to be buying one of these white elephants.
For that association fee it better cover call girl service too.
Still looks pretty dark at night. Maybe 15% occupied from the lights that are on.
Just the thought of $ 1200.00 a month in association dues
gives me the chills. I wonder what you could rent one of these for ?
Maybe half what it costs to own ? I would think the one in the last post would go for
$ 3000.00 a month in rent. Yet the Mortgage payment on $ 800K at a 30 Year with 20% down would still be closer to $ 4500.00 and dont forget that nice $ 1200.00 a month dues too.
You got to be drinkin some serious Kool-Aid to be buying one of these white elephants.
For that association fee it better cover call girl service too.
biscuitninja_IHB
New member
Yep, if you can purchase for something like 30-40% of what they are asking then you might have a decent deal. That and if you own the building the 1200 a month dues look something like 600-750, still hugely expensive, but not 6000-7000 a month dues you will pay if you purchase outright.
-bix
-bix
jcaraway_IHB
New member
Anyone see the LA Times article on The Plaza in Irvine. Some lady is renting the 4000 sq ft penthouse for $3800 a month. (her agreement is she manages pending sale of property)