Comments on: Empty McMansion #1 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/ Tracking the Arcadia and San Gabriel Valley Housing Market Sat, 31 Jul 2010 04:35:12 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Kerin Cantwell http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/comment-page-1/#comment-4293 Kerin Cantwell Wed, 20 Aug 2008 05:14:49 +0000 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/#comment-4293 You are asking all the right questions here, AHB. Where do these "specuvestors" as you call them (great term!) think all these $3mm buyers for Arcadia are coming from? If you had that kind of cash and income is this what you would buy? It has been my experience that most people who have a lot of money have it because they are smart about it and will not overpay, whether times are good or bad. You are asking all the right questions here, AHB. Where do these “specuvestors” as you call them (great term!) think all these $3mm buyers for Arcadia are coming from? If you had that kind of cash and income is this what you would buy? It has been my experience that most people who have a lot of money have it because they are smart about it and will not overpay, whether times are good or bad.

]]> By: SavedbyGrace http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/comment-page-1/#comment-1864 SavedbyGrace Fri, 25 Apr 2008 23:20:35 +0000 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/#comment-1864 Thanks for the heads up. It looks like Redfin is still showing the old listing. I seriously need to revisit the profiles I've done in the past to see where everything is now. Thanks for the heads up. It looks like Redfin is still showing the old listing. I seriously need to revisit the profiles I’ve done in the past to see where everything is now.

]]> By: Beaches http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/comment-page-1/#comment-1858 Beaches Fri, 25 Apr 2008 21:29:03 +0000 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/#comment-1858 I believe this is currently listed for foreclosure sale. Foreclosure Status: Notice of Foreclosure Sale Beds: 6 | Bath: 7 | Square Feet: 5,948 Listed: April 23, 2008 I believe this is currently listed for foreclosure sale.

Foreclosure Status: Notice of Foreclosure Sale
Beds: 6 | Bath: 7 | Square Feet: 5,948
Listed: April 23, 2008

]]> By: SavedbyGrace http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/comment-page-1/#comment-443 SavedbyGrace Thu, 28 Feb 2008 15:40:32 +0000 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/#comment-443 Asian have been buying up property since the late 90s because of several reasons. The schools and proximity to other Asian families are some reasons. However, these very same buyers are also investors. They may not think of it that way, but if they bought on the promise that the value of their house will go up, then they are investors too. No investor, Asian or not, will put large sums of money down on what they know will be a depreciating asset for years to come. Asian have been buying up property since the late 90s because of several reasons. The schools and proximity to other Asian families are some reasons. However, these very same buyers are also investors. They may not think of it that way, but if they bought on the promise that the value of their house will go up, then they are investors too.

No investor, Asian or not, will put large sums of money down on what they know will be a depreciating asset for years to come.

]]> By: phantom600rr http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/comment-page-1/#comment-439 phantom600rr Thu, 28 Feb 2008 07:12:09 +0000 http://www.arcadiahousingblog.com/2008/02/27/empty-mcmansion-1/#comment-439 I would think the only hope for this seller is to find a foreign (asian) buyer to scoop this baby up. Risking $500k of your own money to profit $130k in this market environment is not very good calculations. I would think the only hope for this seller is to find a foreign (asian) buyer to scoop this baby up. Risking $500k of your own money to profit $130k in this market environment is not very good calculations.

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