Real Housewives of OC update

[quote author="caycifish" date=1247523867][quote author="SoCal78" date=1247229489]

'Housewives' For just <strong>$5.5 million</strong> you get 7 bedrooms and 9 baths, plus ? as the listing (HERE) says:



French Country custom estate, with guest house. Panoramic views of Saddleback Mtn, Coto Clubhouse and all of Coto. 6 car finished garages, gated court yard parking, easily <strong>handels</strong> boat and recreational storage. The home has high ceilings with custom woodwork, stone wall in large family room 25 x25 with built in bar and open to backyard entertainment center. Large 2 person office with views of <strong>peacefull</strong> hillside. Single loaded cul de sac with 3 homes. Circular stamped concrete driveway, set back garages. Large Master bedroom suite with retreat, and balcony. His and her bathroom has walk in closets. All <strong>secoundary</strong> bedrooms are at least 16 x 16 suites. <strong>Secound</strong> master has walk in closet, fireplace. Gourmet kitchen has large granite island, sub zero extra large refrig and freezer, large yard, sport court(1/2 court basketball)and built in fireplace and firepit, BBQ center, covered <strong>patio?s</strong>. Mature landscape.

</blockquote>


I can forgive the missing hyphens, but for a $5.5 listing at least get the basics of spelling and apostrophe usage correct.</blockquote>
The only people who think Jeana is a savvy business person are Jeana Keough and those who believe Jeana Keough.
 
[quote author="awgee" date=1247538821][quote author="caycifish" date=1247523867][quote author="SoCal78" date=1247229489]

'Housewives' For just <strong>$5.5 million</strong> you get 7 bedrooms and 9 baths, plus ? as the listing (HERE) says:



French Country custom estate, with guest house. Panoramic views of Saddleback Mtn, Coto Clubhouse and all of Coto. 6 car finished garages, gated court yard parking, easily <strong>handels</strong> boat and recreational storage. The home has high ceilings with custom woodwork, stone wall in large family room 25 x25 with built in bar and open to backyard entertainment center. Large 2 person office with views of <strong>peacefull</strong> hillside. Single loaded cul de sac with 3 homes. Circular stamped concrete driveway, set back garages. Large Master bedroom suite with retreat, and balcony. His and her bathroom has walk in closets. All <strong>secoundary</strong> bedrooms are at least 16 x 16 suites. <strong>Secound</strong> master has walk in closet, fireplace. Gourmet kitchen has large granite island, sub zero extra large refrig and freezer, large yard, sport court(1/2 court basketball)and built in fireplace and firepit, BBQ center, covered <strong>patio?s</strong>. Mature landscape.

</blockquote>


I can forgive the missing hyphens, but for a $5.5 listing at least get the basics of spelling and apostrophe usage correct.</blockquote>
The only people who think Jeana is a savvy business person are Jeana Keough and those who believe Jeana Keough.</blockquote>




So if someone is calling BS on her loan adjustment... could someone guess at an expect timeframe to see things progress with her property on Shire. AKA, when should we see the Notice of Sale, when should the first few auctions be listed, at what starting price, and when would the property eventually go, and at what price would it sell...



Will be interesting to see a few months from now what happens, and look back at see if anyone called it right. The closest person we'll give a free month's subscription to IHB :)



I'll start with mine take and play contrarian... I'm gonna guess she keeps the house. The hard question for me though, is if she is getting divorced and her kids are leaving, that's a big house for a single person. Not sure what will happen in the divorce either (if the home has to be sold to split the assets)... that would be tough because that price would have to drop alot to get it to move, and I don't see that happening...



Delroy
 
As I posted earlier, she will neither keep the house nor will it go to auction. She will refinance, with hard money if need be, and she will sell. She has to sell the house for two reasons, the divorce and they do not have the income to support the costs.
 
Price on 12 Shire dropped today to $4.9mil... so I guess her house is equal to the one over on Cappuchina Way.



Delroy
 
So, what does everybody think the house is worth? Looks like it is worth less than half what's she's asking for it at best; possibly less than one third of asking (Cyberhomes and Zillow both think it's worth about 1.6 mil).
 
[quote author="Geotpf" date=1248004205]So, what does everybody think the house is worth? Looks like it is worth less than half what's she's asking for it at best; possibly less than one third of asking (Cyberhomes and Zillow both think it's worth about 1.6 mil).</blockquote>It is "worth" whatever the highest bidder is willing to pay. There are not many potential buyers in that price range, especially right now. There may be none. It is not like a 1600 sq ft 3 bedroom townhome in Irvine for which one can estimate a "worth" based on the multiplicity of comparable sales and bidders. The comparable sales in the $4.9 mil range are so few as to be inconsequential, hence the "worth" is only what the next person will pay.
 
[quote author="Geotpf" date=1248004205]So, what does everybody think the house is worth? Looks like it is worth less than half what's she's asking for it at best; possibly less than one third of asking (Cyberhomes and Zillow both think it's worth about 1.6 mil).</blockquote>


Agreed with Awgee... the issue is there have been so few $2mil+ sales recently. The "comps" you can look at are listings (meaning a transaction hasn't taken place).



I'll preface this with saying, I have nothing against Jeana. I don't know her, and don't feel that watching the show can make me claim to know anything about here. I'm basing this on my knowledge of the Coto area.



At $4.9mil she is the same price as Cappuchina Way. They've got 2-3x the yard, much large house, don't back up to Coto Drive, live in a more prestigious tract, etc. I have not seen either home in person, but am familiar with both. Her home is not comparable. I do not believe a buyer would go look at both homes and choose hers.



I had a run down on an earlier post comparing her home to others listed. I guess to throw up what I think might be the 3 best "comps":



18 Palomino. Like Jeana's home, this home backs up to the same major street and gets traffic noise. Its smaller than Jeana's and not on a culda sac. The main floor of 18 Palomino is immaculate and i would say on par with the picture's I've seen of Jeana's home. The upstairs and backyard are a bit dated. Palomino has a nicer front yard. Jeana's home is newer. I'm gonna say, if I'm a buyer, Jeana's got a nicer home. 18 Palomino has been listed for quite some time (almost a year) and is not moving at the current price ($2.7mil).



6 Fresian. Like Jeana's home, its 8k square feet, similar lot size, similar tract, etc. Unlike Jeana's, Fresian doesn't back up to a major street. Looking at the MLS pictures, its finish level appears to be on par with Jeana's... its a matter of personal taste and style. I'm guessing Jeana's home is slightly newer. If I'm a buyer, I say these are probably equivalent homes. I believe the owner of 6 Fresian recently passed away (and was in the subprime mortgage business)... I don't know the families situation, but its probably "equivalent" in being potentially distressed like Jeana's because of her separation. (AKA both potentially have a major family change which is causing the property to sell... not saying either are distressed) 6 Fresian has been on the market for a while at $3.9mil.



I think those 3 should paint a good picture for why her home is not worth $4.9mil, IMHO.



So now, an uneducated guess on values (assuming they want to sell in the next 6 months... my crystal ball only looks that far):

Cappuchina Way... I think it will probably sell at or around $4.9mil. Let's say they talk them down slightly, so $4.5mil.



18 Palomino... I'm gonna guess this home moves at $2.1mil.



6 Fresian... I'm gonna guess this home moves at $2.7mil.



So Jeana's home.... I'll be nice and price her above 6 Fresian... $2.9mil.



There are alot of comp listings I could show which would actually support her listing. (the weatherly's, 5 Shire, etc...) but those homes are not moving at that price. Now weird things do happen (see the Fairbanks model on Havenhurst going for $4.5mil a year ago) but I'm just giving you my honest assessment. My gut says many of the homes in the $2-4mil price range are going to start coming down, and we'll see a few new entries at lower prices.



Delroy
 
[quote author="tenmagnet" date=1228448307][quote author="morekaos" date=1228447878][quote author="usctrojanman29" date=1228446513][quote author="morekaos" date=1228446329]There is no way that clown George could possibly keep this up. He comes off dumber than a rock. Real estate developer? Puleeeez!</blockquote>
Yeah, who is this George guy? What kind of real estate does he develop? What development firm does he own? I work in the real estate development industry and know of the big players and he is not anyone I have heard of.</blockquote>


Ask and you shall receive...



<a href="http://centrarealtycorp.com/">george's co</a></blockquote>


Great find!

I agree he comes across like a goof.

Hate to admit he?s got plenty of firepower.</blockquote>


You know after reviewing some of Georges projects how could they possibly be holding up?
 
[quote author="morekaos" date=1249515816]You know after reviewing some of Georges projects how could they possibly be holding up?</blockquote>




<img src="http://i1.fc-img.com/CTV02/Comcast_CIM_Prod_Fancast_Image/21/794/1197320499544_16THE-REAL-HOUSEWIVES_mif.jpg_290_210.jpg">



She probably just uses a bra with alot of support and some "push up" features.



Oh... wait, not that construction project of George's... sorry, didn't click on the link.



Delroy
 
[quote author="morekaos" date=1249515816][quote author="tenmagnet" date=1228448307][quote author="morekaos" date=1228447878][quote author="usctrojanman29" date=1228446513][quote author="morekaos" date=1228446329]There is no way that clown George could possibly keep this up. He comes off dumber than a rock. Real estate developer? Puleeeez!</blockquote>
Yeah, who is this George guy? What kind of real estate does he develop? What development firm does he own? I work in the real estate development industry and know of the big players and he is not anyone I have heard of.</blockquote>


Ask and you shall receive...



<a href="http://centrarealtycorp.com/">george's co</a></blockquote>


Great find!

I agree he comes across like a goof.

Hate to admit he?s got plenty of firepower.</blockquote>


You know after reviewing some of Georges projects how could they possibly be holding up?</blockquote>
His office portfolio must be taking a pounding and his Vegas property is probably on life support. This is not a good time to be a commercial real estate developer.
 
<a href="http://www.ocregister.com/articles/keough-amormino-driving-2534451-alcohol-arrested">Matt Keough gets another DUI</a>



<em>Deputies arrested Matthew Lon Keough, 54, at his Coto de Caza home around <strong>1:30 p.m.</strong>, according to Jim Amormino, OCSD spokesman.



Amormino said deputies saw Keough drive through a stop sign and when the officers flashed their lights at him he failed to stop. Officers then followed Keough as he slowly drove home, where they arrested him on suspicion of evading arrest, in addition to drunken driving suspicions.



A blood test found Keough's <strong>blood alcohol level about 0.29, nearly four times the legal limit of .08 percent</strong>, the Sheriff's Department said.



"At nearly four times the limit, it's extremely dangerous to be on the road," Amormino said. "A little higher and it's not safe to be walking, let alone driving."</em>



Dude... I don't think I have ever been that drunk by 1:30 pm. Not even in college. At his age... he just needs to get help. So wrong.
 
[quote author="graphrix" date=1250762149]Dude... I don't think I have ever been that drunk by 1:30 pm. Not even in college. At his age... he just needs to get help. So wrong.</blockquote>


You need to learn to golf. Out by 6am, in by 11am, and lunch at the clubhouse.



Or, if its a charity 4-man scramble, you just drink the entire 18.
 
Lynne Curtin, whom I actually found the least offensive even if she and her husband were potheads, is about to be evicted from her rental home in Laguna Beach.



She was actually already evicted from the rental duplex the Curtin's lived in that was shown in Season Four in Capistrano Beach. The first eviction for non-payment was in May, she apparently landed in a Laguna Beach rental in June in time for the taping of Season Five, then stiffed the rental agent 2,500 dollars and already owes 13+ Grand and has until the end of the week to pay up or get out.



<strong>We all knew they were phony, but these OC Housewives seem to be crashing and burning even harder than I thought they could. </strong>



The OC Register has the brief details, with more to develop on this new story in the next 48 hours. http://southcoasthomes.freedomblogging.com/2009/08/20/real-housewife-may-face-second-eviction-today/
 
[quote author="MightyAlweg" date=1250864225]Lynne Curtin, whom I actually found the least offensive even if she and her husband were potheads, is about to be evicted from her rental home in Laguna Beach.



She was actually already evicted from the rental duplex the Curtin's lived in that was shown in Season Four in Capistrano Beach. The first eviction for non-payment was in May, she apparently landed in a Laguna Beach rental in June in time for the taping of Season Five, then stiffed the rental agent 2,500 dollars and already owes 13+ Grand and has until the end of the week to pay up or get out.



<strong>We all knew they were phony, but these OC Housewives seem to be crashing and burning even harder than I thought they could. </strong>



The OC Register has the brief details, with more to develop on this new story in the next 48 hours. http://southcoasthomes.freedomblogging.com/2009/08/20/real-housewife-may-face-second-eviction-today/</blockquote>
The more they pretended, the harder they'll fall. Life can be a bizatch and it can sure humble you very quickly.
 
TMZ late Thursday night is now reporting that Lynne and Frank Curtin are bringing in a lawyer because the eviction papers were served to their 16 year old daughter instead of an adult. The Curtins are alleging the eviction is invalid due to that technicality.



Apparently the Bravo TV cameras were there when the papers were served the first time. I imagine they will try and hide out now to avoid being served the papers a second time. But I'm not sure how you hide out when you are being constantly filmed for a reality TV show. I can't wait to see how Bravo handles all of this drama when Season Five airs late this year.



Lynne's "bio" on the Bravo TV website states she "owns" the Laguna Beach home, but that is obviously not the real truth. From Lynn's bio;



<strong>"Lynne Curtin and her husband of over 18 years, Frank, are happily married and own a beautiful seaside home in Laguna Beach, Calif., where they enjoy every minute of their active Southern California lifestyle."</strong>



http://www.bravotv.com/the-real-housewives-of-orange-county/bio/lynne-curtin
 
Where did all the posts go?



Edit by Zovall: Here.. <a href="http://www.irvinehousingblog.com/forums/viewthread/5960/">Waste of time</a>

Please use this thread to continue discussing the 'Real Housewives of OC update'
 
Since I was stoned for laughing at this thread before, I thought I might as well join in and try to fit in.



<a href="http://southcoasthomes.freedomblogging.com/2009/08/26/real-housewife-be-evicted-from-her-home-thursdayfor-real-this-time/#comment-2761">?Real housewife? may be evicted from her home Thursday?for real this time</a>



I just thought the last paragraph was really funny.
 
So the Curtin family is finally getting evicted on Thursday? The second eviction from a rental house in the same year..... Wow, talk about white trash.



And good thing for us, this is all being captured on video for broadcast on national television later this year, in living color. I can't wait!
 
Why would anybody even lease to them knowing that they were going to be part of a TV show with all of the cameras and crew running all over the property? I don't feel sorry for the owners in the least.
 
[quote author="RobertLarsen" date=1251363125]Since I was stoned for laughing at this thread before, I thought I might as well join in and try to fit in.



<a href="http://southcoasthomes.freedomblogging.com/2009/08/26/real-housewife-be-evicted-from-her-home-thursdayfor-real-this-time/#comment-2761">?Real housewife? may be evicted from her home Thursday?for real this time</a>



I just thought the last paragraph was really funny.</blockquote>


Hahahah. So snotty little Raquel has a potty mouth? How embarrassing for the family.
 
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