Comments on: A $2.5MM Monstrosity. Part 1

By: T K Eng

T K Eng — Mon, 16 Jun 2008 21:42:10 +0000

I fully agree that most people would not want to pay full price for something like this. However, living in Arcadia is a status symbol for many first generation Asian immigrants, both recent (10 yrs)residents. As you pointed b/4, Arcadia does have much to offer and demand is significantly higher than the neighboring cities such as El Monte or Monrovia. The LA Times reported today that median prices in Socal are 27% off of last year’s avg. Despite this, sellers in Arcadia have not significantly cut their prices b/c demand remains high- for now. The question is whether the rising commodity prices and unemployment rates will cause the bubble prices in Arcadia to collapse (-30% or more). I think at this point it is still uncertain b/c there are still a lot of McMansion buyers outthere from what I can see…and yes, I too can’t stand the McMansions and have started looking eastward to places like W. Covina for more living space.

By: missedthebubble

missedthebubble — Mon, 16 Jun 2008 17:34:51 +0000

I completely agree, but I always wonder if I am out of touch.

When you say million dollar home, I always think of a nice house, with landscaping, etc. Nowadays, this just gets you…

This 2.5 million one, looks unfinished or rushed to completion… just my opinion, but somethings could be done to soften the rough edges…

But I sit on the sidelines, saving my money…

By: Koby

Koby — Sun, 15 Jun 2008 20:28:11 +0000

Ugly ugly ugly.

This is like buying the generic brand of coffee at the 99c Store. Sure it’s coffee but will you really enjoy it without adding lots of xtras like cream, sugar, cinammon or cocoa powder, etc. anythingto make it taste better?

Also what’s up with that post in the middle of the floor?!

I think this whole McMansion thing has turned me off to living in Arcadia. Will probably look at Bradbury or some other area with space.

By: Arcadia Lost

Arcadia Lost — Sat, 14 Jun 2008 16:54:08 +0000

Sorry, I can’t help myself, but I need to add that it’s an an incredibly ugly house. The architect should be tarred and feathered and run out of town. Even the overseas buyers I keep harping on will have a difficult time plunking down 2M on it given the building inventory.

By: phantom600rr

phantom600rr — Sat, 14 Jun 2008 16:50:55 +0000

I don’t understand why anyone with the financial resources to build this structure would actually choose this particular architectural design. There are so many beautifully drawn plans available in the market today! Just spend a single minute flipping through the pages of the many house plan magazaines available at Barnes and Noble and you’ll be able to find a design that is by far asthetically superior to this monstrosity. Frustrates me just to look at this cash drain!

By: phantom600rr

phantom600rr — Sat, 14 Jun 2008 16:50:40 +0000

By: Arcadia Lost

Arcadia Lost — Sat, 14 Jun 2008 16:34:05 +0000

For the average American and many others, this house does not have many things one would expect of a 2M plus house. However, the typical buyer for this type of house in Arcadia is more interested in living space. I wouldn’t be surprised if the detached gargage is converted to extra living space eventually. The yard is plenty big for kids to run around in and privacy is not a big drawback because many of the typical buyers come from densely populated urban areas or living arrangements that didn’t include much day to day privacy. Quite frankly, if zoning allowed, the house have been built to take the entire lot. Also, a pool for many buyers, Americans included, is just a big headache and if someone has 2.5M to spend on a house, should be able to add later if desired.

I may be way off, but that’s my take on this and similar properties that locals/natives keep bashing. Maybe TK can comment on this.