Comments on: $5.8MM… in Monrovia?? http://www.arcadiahousingblog.com/2008/07/04/58mm-in-monrovia/ Tracking the Arcadia and San Gabriel Valley Housing Market Thu, 08 Jan 2009 22:51:59 +0000 http://wordpress.org/?v=2.5.1 By: Ken http://www.arcadiahousingblog.com/2008/07/04/58mm-in-monrovia/#comment-3405 Ken Tue, 15 Jul 2008 20:32:05 +0000 http://www.arcadiahousingblog.com/?p=531#comment-3405 I know that in SoCal, the closer you get to the hills the more expensive the houses, but any bets on whether something this far up in the hills will end up a pile of ash after the next wildfire? (When I lived in Monrovia in the late Seventies, we had a massive wildfire above Arcadia & Monrovia; the entire skyline was on fire and the constant choppers and water-bombers overhead gave me a Vietnam flashback -- and I was never in The Nam!) I know that in SoCal, the closer you get to the hills the more expensive the houses, but any bets on whether something this far up in the hills will end up a pile of ash after the next wildfire?

(When I lived in Monrovia in the late Seventies, we had a massive wildfire above Arcadia & Monrovia; the entire skyline was on fire and the constant choppers and water-bombers overhead gave me a Vietnam flashback — and I was never in The Nam!)

]]> By: ARC LOST http://www.arcadiahousingblog.com/2008/07/04/58mm-in-monrovia/#comment-3167 ARC LOST Sat, 05 Jul 2008 17:22:34 +0000 http://www.arcadiahousingblog.com/?p=531#comment-3167 Yes, the water towers are a hoot. I'm not sure how much of the 44 acres is buildable, but that's still quite a bit of money for land in Monrovia. I wonder who owns that much property in the first place -- development company that got caught buying/getting zoning approval at the end of the bubble? For that much money, the house appears dated already and appears to be a teardown anyway. Yes, the water towers are a hoot. I’m not sure how much of the 44 acres is buildable, but that’s still quite a bit of money for land in Monrovia. I wonder who owns that much property in the first place — development company that got caught buying/getting zoning approval at the end of the bubble? For that much money, the house appears dated already and appears to be a teardown anyway.

]]> By: Diddi http://www.arcadiahousingblog.com/2008/07/04/58mm-in-monrovia/#comment-3148 Diddi Fri, 04 Jul 2008 17:44:12 +0000 http://www.arcadiahousingblog.com/?p=531#comment-3148 Well, in fairness to the listing it is 44 acres and more of a speculative play. But what's the story with that view of the 2 humongous water tanks in the neighbors yard? As for the other location comps they are more desirable BUT who really lives in 5,000sf? We once had a 3,500sf home and 99% of our time in either the kitchen or family room. For a family of 3-5, 2-2,500sf is more than enough space. Anyone notice that Century City comp lost 36% of its value in the early 90s when the last bubble popped? Good post! Well, in fairness to the listing it is 44 acres and more of a speculative play. But what’s the story with that view of the 2 humongous water tanks in the neighbors yard?

As for the other location comps they are more desirable BUT who really lives in 5,000sf? We once had a 3,500sf home and 99% of our time in either the kitchen or family room. For a family of 3-5, 2-2,500sf is more than enough space.

Anyone notice that Century City comp lost 36% of its value in the early 90s when the last bubble popped?

Good post!

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