I first blogged this POS back in November, 2005. So that makes its real DOM something in the neighborhood of 1130 days (give or take). They are currently asking the bubblicious, staggering price of $525K for this 1br, 1ba, 543 ft^2 boat garage (but to put things in to their proper context, $795K was the highest, delusional listing price I've seen for this POS). Three cheers for Marin seller obstinacy, wishful thinking, and denial!
12 comments:
What is the address? I'd like to look this up on Redfin.
Is this it?
http://www.redfin.com/CA/Inverness/Undisclosed-address-94937/home/17485322
Chuck Ponzi
OK, yea, 10 more seconds and I had it:
12750 Sir Francis Drake Blvd.
What a name. Got it from Movoto:
Chuck's Vacation Spot
Chuck
The massive unemployment problem will begin to recover after housing prices have bottomed. Sorry Fed, Congress, Wall Street, President Bush, President Elect Obama, Detroit, UAW and anyone else who's got dog in this fight... that's a fact..
It was well understood by all, especially those in the Fed and Wall Street, that housing and real estate was at the center and pricipal engine of this economy for years. Science, technology and manufacturing was a mere side-show compared to housing and real estate. So, this is what you are left with.... deal with it...
You want to get people working again. Save your $1.2T stimulus package Barack and remove all the BS in place trying to keep housing prices afloat. Let housing crash and crash hard as it took incredible greed, fraud and incompetence to let it get out of hand. After it's done crashing and correcting, then take your $1.2trillion or whatever and invest in technology and green industries.. You'll get a much, much better bang for your buck and arrive at your desired end result much sooner. Along the way, re-write some policies dealing with housing to keep it in it's bottle once and for all. The only one who'll get hurt in this mess are the pigs on Wall Street and others in the greed/fraud infested RE industry.
The FB's who scammed or bought into this BS will only have to deal with damaged credit reports when it's all over. Who really cares .. it will be over in 12-18 months.. save your money and invest then..
I remember seeing that "garage turned home" out west. I still get a chuckle thinking about that one...beyond belief.
It was well understood by all, especially those in the Fed and Wall Street, that housing and real estate was at the center and principal engine of this economy for years.
Yes, to a degree--but as credit was being hyper-leveraged, housing became a casualty vs. an actual cause. Without proper oversight, I suspect we'll see rolling bubbles in various markets because nearly everyone thinks short-term profit motive vs. sound strategy. Is it really any wonder why the banks don't want to divulge their use of bailout funds? If they spend the next year trying to restart the "consumer economy," it will be wasted time/money. Of course they'll do it, that's the only business model they know...
A good article by Thomas Friedman was published on New York Times last weekend. He argued that the economic stimulus should be spent wisely and smartly. Here is some of his quote:
"You see, even before the current financial crisis, we were already in a deep competitive hole — a long period in which too many people were making money from money, or money from flipping houses or hamburgers, and too few people were making money by making new stuff, with hard-earned science, math, biology and engineering skills."
As we seen in the picture a empty road in this present time our financial condition as it is like the empty road.
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How could you say that our financial condition as it is like the empty road. Do you think so?
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Really a good place if you wanna have or you want to get it.
I can feel that you have put in hard efforts.
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If the want my business they need to walk the walk and learn what competitive pricing really means.
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