Comments on: A whole lot of land on Orange Grove

By: Anonymous

Anonymous — Fri, 18 Jul 2008 13:53:33 +0000

i agree who wants to pay $3m for a middle class neighborhood without a schooling system capable of producing ivy league qualified applicants!

By: phantom600rr

phantom600rr — Wed, 16 Jul 2008 03:21:47 +0000

I’d be amazed if someone is willing to pay anywhere near $3M for this property. Arcadia is a nice city, but not $3M nice…especially on high traffic Orange Grove Ave. At this point in our housing correction, there are simply way too many options for a potential buyer to choose from, within or outside Arcadia. And to pay nearly $3M for a property in a middle-to-upper middle class city is quite a stretch. More specifically to this property, the yard is moderately landscaped and the physical property is nothing special, with very little curb appeal. Just my 2cents…

By: Ken

Ken — Tue, 15 Jul 2008 20:22:04 +0000

How about a Bodega, with all the thump-trucks pounding out Mariachi music and Mexican Deejays?

“VIVA MEHEEEEEECO!”

By: missedthebubble

missedthebubble — Tue, 15 Jul 2008 18:35:50 +0000

Driven by this multiple times… and I will actually side with the 3 million dollar evaluation.

Why? When you drive by this house, this is what you have in your head when you say “million dollar home”. Is it over valued at 3 million, probably, but I would rather pay 3 million for this house, then 1 million for the one on 2nd street.

By: Arcadia Lost

Arcadia Lost — Tue, 15 Jul 2008 18:33:51 +0000

Would the city allow subdividing in that area? Maybe splitting the lot, but four would look strange in that neighborhood.

By: Anonymous

Anonymous — Tue, 15 Jul 2008 17:14:58 +0000

I’m a flipper and I would love to put a 7-11 store or a mom and pop store.

By: TheArcadian

TheArcadian — Tue, 15 Jul 2008 17:07:20 +0000

Perhaps I was being too optimistic last night. Let’s run through the numbers and see what we get:

Main house: 3,427sf
Pool house: 1,000sf
Guest house:1,177sf

Total square footage: 5,604sf

$350/sf = $1,961,400
$325/sf = $1,821,300
$300/sf = $1,681,200

Now we have to take in account that this property is located in Santa Anita Oaks and sitting on 1.3acres. A typical McMansion will be be lucky to have even half that square footage. I guess the real question is whether these two factors are worth the $1MM to $1.3MM premium.

Given everything that’s going on, I’d take back my previous statement and say that this home is at least $500,000 – $800,000 overpriced.

By: george8

george8 — Tue, 15 Jul 2008 13:24:09 +0000

>>Let’s just hope that a flipper doesn’t get a hold of this Orange Grove home and pack it with overbuilt McMansions.<>..my opinion is that 1.3 acres for $3,000,000 isn’t too bad..<<

Are you serious? This a WTF bubbly asking as well.

Let all of them sit and rot.