Anyone been watching the Towering Inferno at Marquee Place?

NEW -> Contingent Buyer Assistance Program
graphrix said:
Unit 1304 in the 3131 building, that owed nearly $1.25mil, was taken back by the bank today for $744k. 41% off! Come on you guys, you know you want to be a bidder for the hottest property in OC... circa 2005.
Click to expand...

I imagine his neighbor is not far behind. Do you think they commiserate in the wine cellar together? After paying the $20 fee to use it of course.

3131 Michelson Dr #1301

Jan 14, 2009 Price Changed $599,900 -- SoCalMLS #S549574

Dec 11, 2008 Price Changed $714,000 -- SoCalMLS #S549574

Oct 01, 2008 Listed $839,900 -- SoCalMLS #S549574

Mar 27, 2006 Sold $941,000 -- Public Records
 
morekaos said:
I imagine his neighbor is not far behind. Do you think they commiserate in the wine cellar together? After paying the $20 fee to use it of course.
Click to expand...

Do you really think someone is dumb enough to pay $30 to store and drink two buck Chuck? Oh nevermind, they were dumb enough to over pay for one of these condos.
 
Actually, after looking at it again it is the BANKERS who are crying over some two buck chuck. The description says "This is high class living in the OC! BANK OWNED."
 
And it gets worse ...

3/10/2009 New Listings:

3131 Michelson Dr. #303: 2 bdrm., 2 bath, 1,293 sq. ft. A short sale at $388,000

3131 Michelson Dr. #606: 2 bdrm., 2 bath, 1,367 sq. ft. Priced at $430,000

In Backups (all short sales):

3131 Michelson Dr. #306: 2 bdrm., 2 bath, 1,292 sq. ft. Priced at $399,000

3141 Michelson Dr. #903: 2 bdrm., 2 bath, 1,347 sq. ft. Priced at $490,000

3141 Michelson Dr. #804: 2 bdrm., 2 bath, 1,580 sq. ft. Priced at $505,000
 
Wow, 388M. I never thought we would break the 400 barrier. Well, I guess I am wrong again.

388M

And even this dink of a place has that HOA albetross...yeechhhhh

Dues #1: $1,096.00
 
IrvineRenter said:
On a cashflow basis to a landlord looking to make a monthly profit from rental income, the condos in this tower are worth about $100,000. I am not kidding. Because the fees are so high, the breakeven for an owner occupant is probably between $160,000 and $200,000. When these units start becoming REOs, the carnage will be breathtaking...
Click to expand...

Here is your answer morekaos...
 
morekaos said:
morekaos said:
Decided to check in with my favorite funeral pire. Which one of these bottom feeders do you think will violate the $300.00 per square foot price first? I think they are all short sales or REO's. Go figure.

3131 Michelson Dr #604

3131 MICHELSON #1302

3141 MICHELSON Dr #404

3141 Michelson #804

I'm rooting for horse #804. Let's race.
Click to expand...

...And from the back of the pack charges #307, a long shot out of Pimlico, at $270 a square foot.

#307
Click to expand...
To be honest, if the HOA was under $500 and I had a steady full-time job I would definitely start considering this place at around $250/sf but with the high HOA my target price comes down to under $150/sf.
 
usctrojanman29 said:
morekaos said:
No doubt, for all the *rap I sling at this place, they are actully pretty cherry
Click to expand...
I can't speak for you, but in my eyes it would be a pretty pimp bachelor pad to bring the ladies for a night cap.
Click to expand...

The location and layout would be very nice for my wife and I, but the current prices make no sense at all. In the end, that is the problem with these units. These places only make sense for well heeled bachelors and DINKs.
 
You must log in or register to reply here.
Back
Top