Anyone been watching the Towering Inferno at Marquee Place?

[lawyerliz_IHB]

I wasn't blogging back then, but goldern it who writes like that,

except PR types in the most fawning obnoxious ads. Surely

those posts were by the same person?

And, just wait until the garbage starts piling up like that bldg in Miami,

because there's no money to pay the bill. Or the electric bill, or the

water bill. I wonder if the concierge service still exists?

 

[PeterUK_IHB]

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

Do you think this goes for this "smart" investors little crown jewel? Why is he trying to get somebody to pry that jewel loose for $300,000.00 less than just 3 months ago? Do you think he is fighting off eight calls a week to rent his little Jewel of the Nile? Is the renter really getting a "great deal" paying $94,800.00 a year in lease payments. Is that really "reasonable"? I think NOT

http://www.redfin.com/CA/Irvine/3131-Michelson-92612/unit-1803/home/12551130

Morekaos, I'm really diggin' this Pad, seriously...

Problem is, every morning when I go down the elevator I'd be expecting to walk into the Casino.

But if I could comfortably afford that place furnished as is I would go for it...imagine the weekly IHB Parties we could have?

 

[morekaos_IHB]

Don't get me wrong Peter. This place is Ultra-chonus. (choice and bonus) But for 1.6 mil or $95,000.00 bucks a year I'ld better be able to put my toes in the water every morning right next to my yacht. This tower living at those costs is....for the birds.

 

[Trooper_IHB]

Zillow is pegging it's value at 652K. ouch.

 

[PeterUK_IHB]

Don't get me wrong Peter. This place is Ultra-chonus. (choice and bonus) But for 1.6 mil or $95,000.00 bucks a year I'ld better be able to put my toes in the water every morning right next to my yacht. This tower living at those costs is....for the birds.

I understand what you're saying morekaos. I think I'll just go upstairs and pretend I'm 18 stories up by looking through the wrong end of the Binoculars...

 

[PeterUK_IHB]

Zillow is pegging it's value at 652K. ouch.

Really?? So it's almost Party time at UK's Pad then Troopster!!

:cheese:

 

[bltserv_IHB]

I was at Houston`s Saturday for Lunch. Ran into a man that Owns a unit in

Marquee. He seems to like living there very much. Originally from Back East

so he likes the high rise. When I asked him about what was within walking distance

he shrugged it off. When I mentioned what I heard they were renting for.

He got a little more unhappy about the conversation. Then I mentioned that we

locals call them them "North Korea Towers". That did not make him happy at all.

He wanted to know why we called them that.

I mentioned the failed High Rises in North Korea where nobody really lives.

Then I pointed to CPW/Asotria across the street.

And said. Just like that tower over there.

That was the end of the conversation........

 

[redline122_IHB]

I was at Houston`s Saturday for Lunch. Ran into a man that Owns a unit in

Marquee. He seems to like living there very much. Originally from Back East

so he likes the high rise. When I asked him about what was within walking distance

he shrugged it off. When I mentioned what I heard they were renting for.

He got a little more unhappy about the conversation. Then I mentioned that we

locals call them them "North Korea Towers". That did not make him happy at all.

He wanted to know why we called them that.

I mentioned the failed High Rises in North Korea where nobody really lives.

Then I pointed to CPW/Asotria across the street.

And said. Just like that tower over there.

That was the end of the conversation........

Wow... ignorance is bliss... and well ... you took away all that bliss. I'm not surprised that the convo didn't last that long.

I wonder how you would feel if you put in soooo much money only to have a complete stranger (I'm assuming you just met the chap at Houston's) completely tear into the property or development that you live in. Sounds like you wanted to simply validate your own joy at someone else's expense. Not cool... You may be right in your facts and figures... but not cool.

 

[graphrix_IHB]

I was at Houston`s Saturday for Lunch. Ran into a man that Owns a unit in

Marquee. He seems to like living there very much. Originally from Back East

so he likes the high rise. When I asked him about what was within walking distance

he shrugged it off. When I mentioned what I heard they were renting for.

He got a little more unhappy about the conversation. Then I mentioned that we

locals call them them "North Korea Towers". That did not make him happy at all.

He wanted to know why we called them that.

I mentioned the failed High Rises in North Korea where nobody really lives.

Then I pointed to CPW/Asotria across the street.

And said. Just like that tower over there.

That was the end of the conversation........

Jeezus bltserv... you are even a bigger a-hole than me. *Pats bltserv's back and says good job!*

 

[Stuff It_IHB]

Zillow is pegging it's value at 652K. ouch.

Really?? So it's almost Party time at UK's Pad then Troopster!!

:cheese:

I will bring the cumberland sausages

 

[PeterUK_IHB]

Zillow is pegging it's value at 652K. ouch.

Really?? So it's almost Party time at UK's Pad then Troopster!!

:cheese:

I will bring the cumberland sausages

OK, that puts you at the top of the list!

 

[graphrix_IHB]

Zillow is pegging it's value at 652K. ouch.

Really?? So it's almost Party time at UK's Pad then Troopster!!

:cheese:

I will bring the cumberland sausages

OK, that puts you at the top of the list!

I will bring Caycifish, and... her famous guacamole! What say ye Petah?

 

[Stuff It_IHB]

Zillow is pegging it's value at 652K. ouch.

Really?? So it's almost Party time at UK's Pad then Troopster!!

:cheese:

I will bring the cumberland sausages

OK, that puts you at the top of the list!

Now I just need to find a way to get them in through customs

 

[bltserv_IHB]

I was at Houston`s Saturday for Lunch. Ran into a man that Owns a unit in

Marquee. He seems to like living there very much. Originally from Back East

so he likes the high rise. When I asked him about what was within walking distance

he shrugged it off. When I mentioned what I heard they were renting for.

He got a little more unhappy about the conversation. Then I mentioned that we

locals call them them "North Korea Towers". That did not make him happy at all.

He wanted to know why we called them that.

I mentioned the failed High Rises in North Korea where nobody really lives.

Then I pointed to CPW/Asotria across the street.

And said. Just like that tower over there.

That was the end of the conversation........

Wow... ignorance is bliss... and well ... you took away all that bliss. I'm not surprised that the convo didn't last that long.

I wonder how you would feel if you put in soooo much money only to have a complete stranger (I'm assuming you just met the chap at Houston's) completely tear into the property or development that you live in. Sounds like you wanted to simply validate your own joy at someone else's expense. Not cool... You may be right in your facts and figures... but not cool.

Yes in the day when we all sat around bragging about our Zero Doc Loan we just got and that

3rd home we were going to flip for a quick $200K profit. Those were the days. Order another bottle of expensive wine. While I sat there with my rental saving my money and kept saying "you guys are screwed when this thing blows up". I was the Doom and Gloom guy who was missing the boat in 2005 and 2006. People told me what an idiot I was for not buying and joining this fun party.

Now I should still keep quite now that the shoe is on the other foot. NOT......

OK I guess your right not to talk to people that are sailing on the Titanic and mention the water filling the cabin. Thats not cool I agree.

 

[morekaos_IHB]

I was wondering how long that response was going to take. 29 hours almost to the minute

 

[carsany_IHB]

Hi, been a lurker here for a bit. Thanks for all the great info from veteran posters.

Just looking for an opinion on the high rises in Irvine. I am currently renting in Marquee and as "PeterUK" said, I am digging it as well. I checked out the Plaza, CPW and plan to go see Skyline soon.

I am considering buying in Marquee or CPW. I like the look of CPW/Skyline, but like the pricing trend in the Marquee. Looks like CPW and Skyline has the look that appeals to me most, Plaza looks pretty overvalued for what you get over there. Besides the kitchen, the bathrooms look kind of cheap IMO.

Which place do you think is the best if you had about a 800k budget for a place?

I am thinking...

1. CPW

2. Marquee

3. Plaza

4. Skyline (would be a 3 for sure, but I prefer the location of the others)

Anything else coming up or worth a look at in regards to modern condo style living? Thanks for any input!

Cheers

 

[carsany_IHB]

I just moved to the OC from NYC. Lived in LA for a year before coming here. My question is - Is Santa Ana that bad neighborhood wise? It seems so close to the Irvine area. Compared to NYC and downtown LA, this all looks good to me. Any input appreciated.

- CY

 

[morekaos_IHB]

Says Nancy Keely Campbell to Veronica Hicks, "Listen Veronica, I know we have listed out condos for sale for over a year, paid those back breaking HOAs and taxes and still have not found that perfect buyer for our perfect condos. I have an idea, Lets raise the prices and pretend this whole houseing crash thing never happened. Do you think that might work?" "Worth a try, nothing else is working, do you have any more of those yellow pills?"

http://www.redfin.com/CA/Irvine/Undisclosed-address-92612/home/12469505

Listing Price History

Date Price

Aug 25, 2007 $945,000

Jan 10, 2008 $999,000

http://www.redfin.com/CA/Irvine/3141-Michelson-92612/unit-1506/home/11912498

Listing Price History

Date Price

Sep 19, 2007 $799,000

Apr 18, 2008 $699,000

Jun 28, 2008 $749,000

 

[Hormiguero_IHB]

My question is - Is Santa Ana that bad neighborhood wise?

The long answer to this question, or at least some good clues, are contained in the local police blotter. Some municipalities have good ones online, some have almost nothing available without a personal visit to the police station. I don't know where Santa Ana is on that continuum. Of course, many cities change on a block-by-block (and sometimes month-to-month) basis.

The short answer is "yes".

 

[freedomCM_IHB]

My question is - Is Santa Ana that bad neighborhood wise?

The long answer to this question, or at least some good clues, are contained in the local police blotter. Some municipalities have good ones online, some have almost nothing available without a personal visit to the police station. I don't know where Santa Ana is on that continuum. Of course, many cities change on a block-by-block (and sometimes month-to-month) basis.

The short answer is "yes".

My experience is that it is much more local that SA as a whole. There are a few really good neighborhoods, and many pretty bad ones. Good ones include Floral park and the area right around Main/Macarthur (south coast plaza area).

But the schools are pretty rocky, so if you need public schools, SA isn't a good choice.

Orange County is more like Brooklyn than the city though.