Thursday, September 11, 2008
Built his castle in the wrong neighborhood
Everyone wants to own their dream home. A castle of our own, with everything we've always dreamed of. If you are planning on building your castle, be sure to choose your location carefully. Nothing sucks more than building your castle and then the peasants revolt. Here's an example of how not to built your dream home.
35280 Stockton ave is a 2 year old tract home on the SCPGA golf course in Beaumont. This home was built in 2006 and sold new for $704K. The home is 3490 s/f and has 5 bedrooms and 3 baths. It does back onto the golf course and has a nice view of the fairway. The owner has done some crazy stuff in the backyard. It looks a little bit like Castle Park in Riverside. All it needs is a windmill. For whatever reason our homeowner has decided to sell his dream home. He figures his toontown home is worth a whopping $829K.
First of all, $704k for a tract home in Beaumont?? Come on people, did anyone really think tract homes in Beaumont were worth 3/4 of a million bucks? Obviously some people did because they sold them. I just cannot wrap my feable mind around those numbers.
Fast forward two years we are in the middle of the biggest financial meltdown since the depression. Real estate is down 50% plus in much of the IE. But King Louie XVII here still thinks someone is going to go gaga over his plastic back yard. For a reality check he needs to drive down the street. There are at least 5 homes for sale within a 200 yards of his house and 4 of those are priced under $320K.
There's this model match, also on the golf course listed for $320K
Or this ever so slightly smaller home listed for $299k
Or this one, listed for $289k.
In case your math skills are not up to snuff, these 3 are listed for about 500K less than Toontown. In fact you could buy all three for just a little bit more than he is asking for his plastic fantastic. $829K puuuleaze.
The moral of the story is.................. ( Please fill in the blank )