December 20, 2007
Here's another hilarious condo development in Scottsdale Arizona - "The Mark" - where 2-bedroom dorms are going for $900,000 (cheese not included)
I don't think they could've picked a funnier name. "The Mark" is always "The Sucker" right? In a three-card monty game, "The Mark" is the unsuspecting fool about to get his wallet lifted. "The Mark" is the set-up in a rigged poker game.
Well, in Scottsdale, "The Mark" is anyone stupid enough to spend $900,000 or more for a Toll Brothers apartment in a fake REIC town where real estate is crashing fast and furious.
A 2-bedroom unit might be able to fetch $1500 a month in rent. That'll just barely cover the condo association fees, expenses and taxes on one of these gems. The $6,000+ a month payment - that's yours to eat.
What were they thinking people? What were they thinking?
I did a quick count and 16 of the 58 units on their website are showing "SOLD!", and you just know that all 16 of those fools are gonna cancel if they can. NO WAY anyone is stupid enough to go through with their sale. Much better off walking away from the deposit, and buying at the foreclosure sale if they really want to live there.
Oh, check out the splashy marketing website too. Massages, babes at the pool, art galleries, and of course wine and cheese. Yup, that's worth $900,000. What a joke. Here's a hint - rent one, and you'll have enough money left over to buy all the cheese you want!