Anyone been watching the Towering Inferno at Marquee Place?

NEW -> Contingent Buyer Assistance Program
While I like the Shore, I prefer the Heights b/c it's not as packed in....and it's much quieter. When I lived there, 2nd street was a 7 minute walk. Just make sure to get two parking spaces with any house as parking is a b*tch at all times there. Your visitors will be hoofing it !
 
I know, I actually already live on the island near LBYC. I do prefer the island or the Peninsula to the Shore but if the right property pops up you never know.
 
[quote author="Trooper" date=1215570237]While I like the Shore, I prefer the Heights b/c it's not as packed in....and it's much quieter. When I lived there, 2nd street was a 7 minute walk. Just make sure to get two parking spaces with any house as parking is a b*tch at all times there. Your visitors will be hoofing it !</blockquote>


The morning before the Christmas boat parade, we would move our cars out of our garage and park on the street, thus leaving our garage spaces for our guests. And some of our guests would park at Marina Pacifica and we would use one of the cars in the garage to shuttle them.
 
It's settled then, I will park my cars in the street this year before the christmas parade so Troop and Awgee will have a place to park.
 
<blockquote>It?s settled then, I will park my cars in the street this year before the christmas parade so Troop and Awgee will have a place to park. </blockquote>
Oh, oh, oh - don't forget CalGal. I still haven't experienced the Christmas Parade yet. I never know where to park.
 
You think Nancy Keeley-Campbell owns all these ultra-stale units for sale? They listed around the same time, been for sale for over a year, use the same stale photos, and price drops look similar. If so Nancy Keeley-Campbell has got some deeeeeeep pockets. She must be one awsome agent to keep up this kind of cash flow.



http://www.redfin.com/CA/Irvine/Undisclosed-address-92612/home/12464862

http://www.redfin.com/CA/Irvine/Undisclosed-address-92612/home/12463680

http://www.redfin.com/CA/Irvine/Undisclosed-address-92612/home/12469505
 
<strong><span style="font-size: 15px;">North Korea's "Hotel of Doom" wakes from its coma </span></strong>



Well, apparently there is hope after all....for Irvine's "North Korea Towers".





<a href="http://news.yahoo.com/s/nm/20080717/lf_nm_life/korea_north_hotel_dc">Work resumes after 16-year lull</a>
 
Unit 1301 in the 3131 Michelson building went back to the bank today for $535,500, and the NTS was just over $829k. That 35% discount on the note, not the purchase price, proves it wasn't worth what the builder sold it for. Too bad Vince Ferragamo played before there was video tapes to review the teams you will be playing, otherwise he might have <a href="http://www.redfin.com/CA/Irvine/3131-Michelson-Dr-92612/unit-1303/home/12323442">had a better game plan before he listed 1303 at $1.199mil</a>. Then there is <a href="http://www.redfin.com/CA/Irvine/Undisclosed-address-92612/home/16892368">1304 for sale at $875k</a> and it is a short sale. Then <a href="http://www.redfin.com/CA/Irvine/3131-Michelson-92612/unit-1305/home/13409157">1305 thinks they can get $949k for their dinky place</a>. Is that a view of Watermarke or Avenue One I see? Either way, you can get your telescope out and point out the foreclosures there to your friends, or you could just give a tour of your building. Last but certainly not least, well not in price that is, is <a href="http://www.redfin.com/CA/Irvine/3131-MICHELSON-92612/unit-1302/home/12385699">1302 for $599k</a>. I love the <a href="http://www.zillow.com/HomeInfo.htm?zprop=2146380798#homeDescription">description on Zillow</a>...



<em>Investor Alert! This property is being sold with a lease in place paid for by Insurance Company. Southern California fire victim is the tenant & their home is currently being re-built. Purchase is subject to existing lease...but lease can help pay your mortgage until you are ready to move in. <strong>And the market could swing favorably in your direction during this time as most Marquee condos list and sell far above this price.</strong></em>



Awe... how nice the owner was to fire victim? But... WTF is the agent talking about? Above list price? Has anything sold in there in the last six months? The market <em>could</em> swing in your direction about as soon as Vince makes his comeback as an NFL quarterback.



Now, would someone please tell Vince Ferragamo that the chances of him selling 1303 for $1.199mil is about as likely as we will see a perfect season in the NFL. It took 53 years to see that, and we haven't seen it since. If this place is only 3 years old, then we have another 50 years before we will see $1.199mil for that place.



<em>*note: do not buy on the 13th floor at the Marquee, or at any other high rise. and, do not list your home with an ex-NFL player. they clearly suffer from brain injuries that keep them from reality.*</em>
 
[quote author="Trooper" date=1216831395]Are you saying that Vince Ferragamo is a <em>realtor</em> down there ?</blockquote>


Oh, come on Trooper... do you think I could make things like that up? I mean... his company is <a href="http://www.touchdownrealestate.com/">Touch Down Real Estate</a>, and the <a href="http://www.touchdownrealestate.com/Nav.aspx/Page=/About/Default.aspx">about us link</a> sounds like an unintelligent, had your head pounded too many times football player, or a Kool-Aid drunk Realturd.



<em>Strong leadership is the lifeblood of any organization, influencing company success and customer [strike]satisfaction[/strike] angst. After a winning professional football career with the L.A. Rams, highlighted by a Superbowl appearance (even though he never won, loser), Vince Ferragamo is now a [strike]successful[/strike] losing real estate [strike]professional[/strike] schlep and a dynamic [strike]leader[/strike] fool who leads his new team at Touchdown Real Estate (to failure). Vince's life and career experience, solid strategy and proven leadership abilities give him the insight few others have (even though readers of IHB have a better grasp of reality, and current market statistics). When he's not in the office (or mainlining the Kool-Aid), he spends much of his time in the community working with local charities, such as Alzheimer's Association and the Special Olympics, in addition to coaching youth soccer and football.



We can help you buy or sell your home.

We want to help you find your first home, your second and third. We know that as your family grows, kids go off to college, or you relocate, your needs change. We will be there to help make the transition and get the most from your investment.

Touchdown maintains a growing database of available properties throughout Southern California, including condominiums, single-family homes, estates, and equestrian properties (don't they all?). So whether you're a first time buyer looking for your dream home or investing for the future (so... I can short OC RE values?), you can count on us for the right connections to help you find what you're looking for.



Our [strike]sales[/strike] listing experience also includes "relocation specialists", foreclosure and bank owned (REO) properties (not really when you list a place across from one that got foreclosed on and a short sale next door for twice the price). This gives buyers access to some of the area's best values, and broadens the scope of your home selection. (Even though we are completely clueless to the foreclosures around our listings, we still provide a better service than anyone else. Hopefully you do not read IHB to figure out how clueless we are, otherwise we might be out of business).</em>
 
[quote author="Trooper" date=1216831395]Are you saying that Vince Ferragamo is a <em>realtor</em> down there ?</blockquote>


<a href="http://www.redfin.com/CA/Santa-Ana/2404-Poinsettia-St-92706/home/3052107">His brokerage also has a crazy listing in Park Santiago.</a> Nice looking exterior, but an interior decorator gone mad interior, and a badly designed extension into the attic (<em>Would you care for a stairway with your soup?</em>)
 
[quote author="EvaLSeraphim" date=1216849968][quote author="Trooper" date=1216831395]Are you saying that Vince Ferragamo is a <em>realtor</em> down there ?</blockquote>


<a href="http://www.redfin.com/CA/Santa-Ana/2404-Poinsettia-St-92706/home/3052107">His brokerage also has a crazy listing in Park Santiago.</a> Nice looking exterior, but an interior decorator gone mad interior, and a badly designed extension into the attic (<em>Would you care for a stairway with your soup?</em>)</blockquote>


I think I will call Courney Cox and get some of that great bubblelicious celebrity real estate advice.



http://welovedeercreek.wordpress.com/2007/07/13/courtney-cox-realtor/



<span style="color: green;"><span style="font-size: 13px;">"It?s official. Courtney Cox has applied to get her Real Estate License in California."</span></span>
 
"Unit 1301 in the 3131 Michelson building went back to the bank today for $535,500, and the NTS was just over $829k. That 35% discount on the note, not the purchase price, proves it wasn?t worth what the builder sold it for. "



If the NTS was $829k, that means the total mortgage was $829k, right? What does going back to the bank for $535,000 mean?
 
If I'm totally wrong, eventually Graph will come in here and correct me.



[quote author="fumbling" date=1216854021]"Unit 1301 in the 3131 Michelson building went back to the bank today for $535,500, and the NTS was just over $829k. That 35% discount on the note, not the purchase price, proves it wasn?t worth what the builder sold it for. "



If the NTS was $829k, that means the total mortgage was $829k, right? What does going back to the bank for $535,000 mean?</blockquote>


I believe the NTS can also have various fees/penalties added on to what is still owed on the mortgage.



Going back to the bank for less than what is owed means the bank was trying to be realistic. They said "hey, we're taking a loss no matter what on this one...anybody want it for $535,500?" and then they heard crickets chirping.
 
[quote author="graphrix" date=1216834619][quote author="Trooper" date=1216831395]Are you saying that Vince Ferragamo is a <em>realtor</em> down there ?</blockquote>


Oh, come on Trooper... do you think I could make things like that up? I mean... his company is <a href="http://www.touchdownrealestate.com/">Touch Down Real Estate</a>, and the <a href="http://www.touchdownrealestate.com/Nav.aspx/Page=/About/Default.aspx">about us link</a> sounds like an unintelligent, had your head pounded too many times football player, or a Kool-Aid drunk Realturd.



</blockquote>


C?mon Graph,

Couldn?t you have just gone with the Kool-Aid drunk Realturd?

Being a star athlete and excelling in football is nothing to scoff at.

Performing at the highest level as a top NFL QB.

Regardless of what you think of him or his views now, on the field Vince was a proven winner.
 
going back to the bank for $535k means the bank put it on the market (say MLS) for $535k? so if I check on Realtor.com or redfin.com I should be able to find it?
 
[quote author="fumbling" date=1216856110]going back to the bank for $535k means the bank put it on the market (say MLS) for $535k? so if I check on Realtor.com or redfin.com I should be able to find it?</blockquote>


"Going back to the bank at $535K" means that at the auction, the initial offered price for the property was $535K, and none of the bidders that were in attendance made a move. If no bids are made, the bank takes ownership of the property for that price, since they were holding the parcel as <a href="http://en.wikipedia.org/wiki/Collateral_finance">collateral</a>.



The banks are not in the business of marketing homes, so they <u>may take some time</u> to get it back to market.
 
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