tag:blogger.com,1999:blog-18675105.post7214578273866458938..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Welcome to the Third Avenue Lofts Lock Box Rail of Desperation in Failed Flipper Central Scottsdale Arizonabloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger55125tag:blogger.com,1999:blog-18675105.post-84282473971829017582007-10-15T22:03:00.000+01:002007-10-15T22:03:00.000+01:00I live in that building, bought my position there ...I live in that building, bought my position there in Jan 2003. <BR/><BR/>I wanted to clear-up the fuzzy math used in this article. Based on SF the property taxes would be $142/month and HOA would be $470/month. This means this article misstated monthly expenses by $2,000 - $612 = $1,388 per month which is quite substantial.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-5629746294833171132007-10-03T18:07:00.000+01:002007-10-03T18:07:00.000+01:00saw a 2bd 2bth condo/apt around there for 37.000 i...saw a 2bd 2bth condo/apt around there for 37.000 in 2001 that did not sell for months...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-62405055279319865072007-10-03T16:35:00.000+01:002007-10-03T16:35:00.000+01:00"Looking at the picture of the realtor on that sit..."Looking at the picture of the realtor on that site, ever notice how they are attractive, but in a weird sort of way?" <BR/><BR/>You mean in a weird sort of "I will exchange sex for sales" way. Yes. Like an android, electric wires showing through in some places.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-60399403868504251722007-10-03T15:33:00.000+01:002007-10-03T15:33:00.000+01:00Looking at the picture of the realtor on that site...<I> Looking at the picture of the realtor on that site, ever notice how they are attractive, but in a weird sort of way? </I><BR/><BR/>So you like those better-do-a-croch-check types?<BR/><BR/>Okay....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-32155359079416552142007-10-03T15:16:00.000+01:002007-10-03T15:16:00.000+01:00You go live in your damn box rodent. Unsettling ...You go live in your damn box rodent. Unsettling sounds, sniffing at strange smells, and uncomfortable temperatures in your chic loft. Sweat it out with the fake fucks, Scottsdale assholes who are intolerable in the best of times. Watch em when they're losing money, and you're losing everything you worked hard to have.<BR/><BR/>Good times.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-63049793535135472002007-10-03T07:17:00.000+01:002007-10-03T07:17:00.000+01:00My home in Las Vegas was in the $500K range and I ...<I><BR/>My home in Las Vegas was in the $500K range and I paid $2800 in taxes <BR/></I><BR/><BR/>It depends on the state. The property taxes in Texas are around 3.25%<BR/><BR/>A $500K home would be burdened with over $16K in property taxes.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77570061951857697982007-10-03T07:12:00.000+01:002007-10-03T07:12:00.000+01:00It doesn't matter because everyone wants to live i...It doesn't matter because everyone wants to live in Arizona, California, Idaho, Washington, Virginia, Maryland, New York, Pennsylvania, Oregon, Hawaii, Mass, Vermont, Connecticut, Tennessee, Carolinas, Montana, Illinois....did I leave anything out?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-51969224238344915552007-10-03T06:11:00.000+01:002007-10-03T06:11:00.000+01:00Condos in OC do have $1120 per month association f...Condos in OC do have $1120 per month association fees. And yes, the taxes can approch $1000 a month, with high prices. <A HREF="http://www.redfin.com/stingray/do/printable-listing?listing-id=1173405" REL="nofollow">Here's</A> a sample.Lost Causehttps://www.blogger.com/profile/18396272153746076615noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-42613020031585103832007-10-03T00:58:00.000+01:002007-10-03T00:58:00.000+01:00Looking at the picture of the realtor on that site...Looking at the picture of the realtor on that site, ever notice how they are attractive, but in a weird sort of way?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-77235677978539456322007-10-03T00:46:00.000+01:002007-10-03T00:46:00.000+01:00anonymous @ 10:10,generally you expect some of the...anonymous @ 10:10,<BR/><BR/>generally you expect some of the units to actually be rented out and hence not have a lockbox. Given the number crammed into the available space in the picture, either the picture is a setup or there are way more vacant (and hence not generating any rent) units then you would want as a landlord - supply and demand and all that...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-47131085868461689792007-10-02T22:40:00.000+01:002007-10-02T22:40:00.000+01:00RE: lock boxesThose would have been around during ...RE: lock boxes<BR/><BR/>Those would have been around during the boom as well. Unlike you renting welfare recipients, people with jobs can't be home 24/7 to show their condos, hence the lock box.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-72276355466204693842007-10-02T21:54:00.000+01:002007-10-02T21:54:00.000+01:00Lock Boxes are selling like hotcakes!!Lock Boxes are selling like hotcakes!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-59615788071143114392007-10-02T21:49:00.000+01:002007-10-02T21:49:00.000+01:00My mistake - the $1000 a month was my estimate for...My mistake - the $1000 a month was my estimate for taxes, insurance and maintenance, pretty conservative.<BR/><BR/>Or hell, take that whole $1000 out, take out the condo association fee, and you're still a f*cked flipper who didn't understand that houses (and condos) have an inherent P/E ratio<BR/><BR/>But oh, will they.bloggerhttps://www.blogger.com/profile/06585266242070350399noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-25941804628657546122007-10-02T21:48:00.000+01:002007-10-02T21:48:00.000+01:00Hey where's all the hot babes lounging by the pool...<I>Hey where's all the hot babes lounging by the pool? (not a soul in sight)</I><BR/><BR/>Ha. I was wondering that too. Their advertising department was sleeping on the job. Should have called a modelling agency. Fill the pictures with beautiful people at the pool and having dinner parties in their luxurious walk-in closet-size condos. LOLAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-24635519437534297492007-10-02T21:46:00.000+01:002007-10-02T21:46:00.000+01:00What's really crazy is this is in downtown Scottsd...What's really crazy is this is in downtown Scottsdale where crime is out of control. My girlfriend got her car broken into twice in that neighborhood, another girlfriend got her car broken into, a friend's roommate got her car vandalized at night for no reason (all the windows were smashed), there have been numerous armed robberies at CVS and Walgreens stores in the past several months, it's got the 2nd highest burglary rate in the Valley after the bad part of NE Phx (around Cave Creek/Bell Roads), and Channel 3 named the area the #1 "rape zone" in the Valley.<BR/><BR/>And they thought people would pay top dollar to live THERE???Frank Rhttps://www.blogger.com/profile/07625929422222490759noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-3359567859596737462007-10-02T21:23:00.000+01:002007-10-02T21:23:00.000+01:00Somebody...please give me the number of the realto...Somebody...please give me the number of the realtor!!! Please...I have to buy this now or I will be priced out forever...Please this is my last chance to own a prime piece of property like this to raise my family. I am begging...oh wait...it is not 2005 any longer...Sorry I just lost my interest, but tell you what. I will pay $35,000 for this piece of crap in the desert!!! HA HA HA flippers!!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-22228789837840107882007-10-02T21:18:00.000+01:002007-10-02T21:18:00.000+01:00Anonymous said... I dont understand - can somebody...Anonymous said... <BR/>I dont understand - can somebody please explain what exactly all those locks are doing there?<BR/><BR/>What does it mean???<BR/><BR/>Each lock box means an empty condo. There's nobody there to answer the door so the door key is kept in that little thing called a lock box. The realtor has a key to the lock box so he can get the condo key so he can show the place. A lot of lock boxes means a lot of empty condos.brokersleaveyoubrokehttps://www.blogger.com/profile/17872742292613334422noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-28361992442898245612007-10-02T20:21:00.000+01:002007-10-02T20:21:00.000+01:00Wow, apartments in Scotsdale. And the penthouse in...Wow, apartments in Scotsdale. And the penthouse in that place (maybe the fith floor, haha!) is $2.5M.Lost Causehttps://www.blogger.com/profile/18396272153746076615noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-84235072747111515292007-10-02T19:42:00.000+01:002007-10-02T19:42:00.000+01:00Pasted from Scottsdale Condo Mania's site....."Bef...Pasted from Scottsdale Condo Mania's site.....<BR/>"Before you ask for $30,000 off List... : According to Arizona Regional Multiple Listing Service statistics, sellers are still usually getting on average over 95% of their asking price, and in many zip codes, the percentage is over 97%. That shocks some out-of-state bargain seekers that think they'll swoop in to get properties at 50 cents on the dollar."<BR/><BR/>There must still be bidding wars in Scottsdale according to "ARMLS statistics"...just noticed ARM is in that acronymAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-74437297422813221862007-10-02T19:26:00.000+01:002007-10-02T19:26:00.000+01:00are property taxes in scottsdale based upon square...are property taxes in scottsdale based upon square footage? In most places it is based on the assesed value of the property. If a 600 sqft condo sells for 500k, the taxes would be way more than 3k/yr in most places in the US.<BR/><BR/>October 02, 2007 5:56 PM<BR/><BR/><BR/>=================================<BR/><BR/>My home in Las Vegas was in the $500K range and I paid $2800 in taxes for 2006 which was the last year I lived in the home before selling.<BR/><BR/>No way a condo, even a $500K condo's taxes are $1000 a month, nor is HOA $1000 a month. I don't care where it is.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-76469318012169503272007-10-02T19:25:00.000+01:002007-10-02T19:25:00.000+01:00I saw a rope hanging from the roof...Is that for t...I saw a rope hanging from the roof...Is that for the flippers to hang themselves....<BR/><BR/>What happens to the HOA payments when all the investors start Jumping..<BR/><BR/>Can an HOA go BK...<BR/><BR/>maybe they can convert the property to a low income apartment building....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-57477397901742673672007-10-02T19:22:00.000+01:002007-10-02T19:22:00.000+01:00"testicle lockboxes"BWAAAAAAAAhaaaahaaaaaaaa!!"testicle lockboxes"<BR/><BR/>BWAAAAAAAAhaaaahaaaaaaaa!!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-79283466815564511892007-10-02T19:10:00.000+01:002007-10-02T19:10:00.000+01:00and to think i did not buy the unit down the stree...and to think i did not buy the unit down the street for 60,000 in 2001 because the 200 dollar association fee made me feel troubled by my inability to control it rising costs....pennywise and pound foolish...in a moronic economy and market, and a saver...like those who made our nation great?...stupid...stupid...stupidAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-66938662418584869662007-10-02T19:00:00.000+01:002007-10-02T19:00:00.000+01:00anonymous @4:23,It's a "luxury condo" the HOA cove...anonymous @4:23,<BR/><BR/>It's a "luxury condo" the HOA covers the security guards, the pool staff, the maintenance people, the fitness center, etc, etc. Here's one, mind you over 2000 square feet in that building with a HOA of almost $1k/mo: http://www.shortsign.com/show.php?id=658<BR/><BR/>tax wise, yet $1k a month is an order of magnitude too high, try per year, unless they have special tax rates for idiots?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-80797168211493959432007-10-02T18:50:00.000+01:002007-10-02T18:50:00.000+01:00will it not drive up the local property taxes in r...will it not drive up the local property taxes in real dollar amounts on anybody that has not a cost of living adjusted government paycheck in this corporate bought government land grab scheme...Anonymousnoreply@blogger.com