Monday, October 13, 2008
When upgrades go too far
In the heady days of the real estate boom the fastest way to maximize your profit was to upgrade. High end appliances, travertine, granite, and fancy landscaping were all used to maximize profits. But how much is too much? Well here's your answer:
Marble tile on the garage floor is TOO MUCH!
And layed at a 45 too! with a fancy beveled edge to boot. What the hell was this guy thinking. How many people want a marble floor in the garage?
This home is near Lake Mathews up near woodcrest/Orangecrest but unfortunately the address is in Perris. This takes the value of this home down about $150K or more. Homes over in the 90504 zip of Riverside sell for a lot more than this home will even though it's only a mile away.
This home was bought in 2005 for $631k. It's a 5 bedroom, 3 bath home, 3725 sq/ft sitting on just over an acre of well manicured land. Gawd knows how much this guys spend on upgrades. Some of the stuff is awesome. The kitchen counters are beautiful the cabinets look low end, in the pics but I'm sure there not though). The bathroom looks like a suite at the Ballagio. They even put marble tile on the stairs. It's over the top gawdy in some respects. Actually in most respects. It makes me want to speculate that a realtor owns it!
Anyway if you want this marble palace it's offered as a short sale for $450K. The price is not that bad considering the home. Some of it would need to be toned down a bit for those of us not used to living in a marble palace. Unfortunately I think the zip code is gonna hurt him. That and the fact its a short sale.....