Housing Bubble, credit bubble, public planning, land use, zoning and transportation in the exurban environment. Specific criticism of smart growth, neotradtional, forms based, new urbanism and other top down planner schemes to increase urban extent and density. Ventura County, California specific examples.
what's the HOA on this one (didn't see it). I'm guessing insurance is low because earthquake/hurricane/NK nuke insurance etc is covered thru the HOA...
Oxnard Shores. There is a "community district" but if there is a fee it is tiny. the listing doesn't mention the condo association costs which I imagine to be fairly large given the sand and sea.
Wait a minute. At 4.5 % interest on a million dollars is 45 grand a year. That's about 105800 a month. This assumes a hefty down payment? 1 mil $ for this pos? Someone belongs in a funny farm. An ocean view? Nuts.
Don't go to LA expecting to see greenery... Go to Ventura county for that... According to JP, there's basically no native Flora in the LA basin... It's all imported from somewhere else, and it's usually desert Flora, succulents and such...
Shouldn't the authorities be happy that such an ugly place be knocked down? Almost anything would be more attractive. An empty space would be more attractive. Can these people get flood insurance?
Clearly this is a house with a million dollar ocean view. Who cares about the front of the house? The enjoyment from residing here comes from watching and doing things on the beach and in the ocean. Posting a view of the house front is as misleading as posting a picture of the bathroom or the utility room.
The value of that shack is property it sits on, not the shack itself.
As for making more coastline, that was frequently proposed back in the 1960s. The NIMBYs went berserk, and it didn't happen.
As far as ability to pay goes, there is an amazing amount of money floating around. I was just talking to my boat broker the other day about how many expensive boats are sitting in the harbor and not being maintained properly. There is a certain group of people who will pay big $$$ for a boat, then not a dime on maintenance. I suspect that this group consists of people with a preponderance of MBA degrees, because that sort of negligence seems to be what they teach in business school these days... ;-)
Maintain their houses? Ha! It's not unusual to wander through a neighborhood full of $1M+ houses and see a few termite habitats. I love the ones with pieces of the roof hanging off the side ;-)
At Echo Beach, we have some nearby neighbors that haven't painted their wood siding since the place was built in 1972. Needless to say we have to get frequent termite treatments. Their shack releases a new crop of bugs every other year, it seems.
Let's not be too harsh. At the heart of some of those beachfront homes is a post WW-II shack that Oxnard families would rent out for the summer. They weren't built for more than that.
SM_L: at the boatyard we would always tell new owners of used boats to plan on 15% per year maintenance. This was usually after they had spent 10-50% of the original costs on getting their new ride safe and to their liking. A look of disbelief would follow, but after a few years of ownership, a few would remember and tell us how right we were.
Big boats=15% of purchase price every year to keep nice. Full stop, unless you do your own varnish/wax/oil changes/etc.
This cost is very much worth the effort of course!
What you need to maintain is the solid wall that prevents access to the beach by " those other people". Making sure that the beach remains unsoiled by"riff raff" even though you and your neighbors don't own the beach.
The false sense of economy is because the diesel overhaul or Imron® hull repainting isn't until year three so the first two years 5%, 5% then comes the 35% year.
And "rope." Even the best stuff rots and unless you are really good you'll need a rigger to do it for you. And I thought rock climbing rope was expensive.
Actually it doesn't matter anymore. I can buy a four stroke "model" engine that puts out more hp than the original Wright engine. Weighs less than 5 lbs.
You cannot recharge the scuba tanks with sail power. Or so I am told by people who might know people who are rich enough to engage in such expensive distractions.
Had an Uncle stationed in sunny Sinop, Turkey during '63 where there was a diesel generator that had been running continuously since '48... There were two oilers working 12 hour shifts, and it had pistons the size of 30gal. drums. Probably running at about 90rpm, geared up to provide 50-60Hz ac... Never. Stopped. Not once in 17 years...
55 comments:
not much curb appeal...but the view from the back looks pretty good!!
what's the HOA on this one (didn't see it). I'm guessing insurance is low because earthquake/hurricane/NK nuke insurance etc is covered thru the HOA...
Those are just the monthly expenses for the garages.
The house is a whole other matter.
Rob..left a comment for you back on the last thread
Another "We can break even, finally, it's time to sell".
In nominal dollars, less transaction costs.
I'm seeing quite a bit of this.
meanwhile..mortgage rates at all time lows..stock markets at all time highs...go figure
Same people who bought peak housing buying peak stocks?
> what's the HOA on this one (didn't see it).
If that's where I think it is (Oxnard Shores??), there isn't a real HOA, just a community association.
Tom. You nailed it. Even the sales histories tell the story. The great unwind.
Oxnard Shores. There is a "community district" but if there is a fee it is tiny. the listing doesn't mention the condo association costs which I imagine to be fairly large given the sand and sea.
There is a condo association in the Shores?
I know that there is in the condos behind the hotel....
There are several of the duplex quadplex variety. Nothing but agreements about parking, trash, water and sand stuff.
Oh and the damn roof. Always the roof because height limits demand flat roofs and they always fail.
Well it screams anyhow. I don't understand. I see garages, but no house.
And not a shred of greenery.
Buy high, sell low!
Up! Up! The early worm gets the bird! Speaking of which, did Trump do anything awful?
Good Morning!
That must be some nice refrigerator box. ;)
Good Morning.😀
Well they are not making anymore coast line. Maybe they should make some new islands like China is doing.
They added a couple acres of new coastline in Big Sur a few days ago.
And it is possible with just a moderate earthquake on the Hayward the the Central Valley could become an inland sea.
Glad you all recognize the true value of this multimillion dollar mansion.
Wait a minute. At 4.5 % interest on a million dollars is 45 grand a year. That's about 105800 a month. This assumes a hefty down payment? 1 mil $ for this pos? Someone belongs in a funny farm. An ocean view? Nuts.
Just figured it out, a million eight. How to see price. Hahahahahahaha.
To some a mil cash is not that much. Good place for an RVer. No landscape, beach, lock the door and go.
The house is worth minus 10 ior 20k$. For knock down and haul away.
They could at least have pretty trash cans in the front.
He hehehehe
Hummmm. How about a mural in the from with pictures of greenery?
I'd be happy to donate a marigold in a pot for the front.
Liz. This is California. $20k wouldn't get a lawyer on retainer who could get you a demolition permit in 8-10 months.
Don't go to LA expecting to see greenery... Go to Ventura county for that... According to JP, there's basically no native Flora in the LA basin... It's all imported from somewhere else, and it's usually desert Flora, succulents and such...
Shouldn't the authorities be happy that such an ugly place be knocked down? Almost anything would be more attractive. An empty space would be more attractive. Can these people get flood insurance?
Fake landscaping in Kali. Who would have guessed? LOL.
Clearly this is a house with a million dollar ocean view. Who cares about the front of the house? The enjoyment from residing here comes from watching and doing things on the beach and in the ocean. Posting a view of the house front is as misleading as posting a picture of the bathroom or the utility room.
But, yeah, it's expensive!
I would cringe in embarrassment every time I had to enter.
The value of that shack is property it sits on, not the shack itself.
As for making more coastline, that was frequently proposed back in the 1960s. The NIMBYs went berserk, and it didn't happen.
As far as ability to pay goes, there is an amazing amount of money floating around. I was just talking to my boat broker the other day about how many expensive boats are sitting in the harbor and not being maintained properly. There is a certain group of people who will pay big $$$ for a boat, then not a dime on maintenance. I suspect that this group consists of people with a preponderance of MBA degrees, because that sort of negligence seems to be what they teach in business school these days... ;-)
I wonder if they maintain their houses.
Maintain their houses? Ha!
It's not unusual to wander through a neighborhood full of $1M+ houses and see a few termite habitats. I love the ones with pieces of the roof hanging off the side ;-)
Testify brother. And remember the best way to repair salt or termite damage is with the cheapest latex paint available at HomeDespot.
At Echo Beach, we have some nearby neighbors that haven't painted their wood siding since the place was built in 1972. Needless to say we have to get frequent termite treatments. Their shack releases a new crop of bugs every other year, it seems.
Let's not be too harsh. At the heart of some of those beachfront homes is a post WW-II shack that Oxnard families would rent out for the summer. They weren't built for more than that.
SM_L: at the boatyard we would always tell new owners of used boats to plan on 15% per year maintenance. This was usually after they had spent 10-50% of the original costs on getting their new ride safe and to their liking. A look of disbelief would follow, but after a few years of ownership, a few would remember and tell us how right we were.
Big boats=15% of purchase price every year to keep nice. Full stop, unless you do your own varnish/wax/oil changes/etc.
This cost is very much worth the effort of course!
What you need to maintain is the solid wall that prevents access to the beach by " those other people". Making sure that the beach remains unsoiled by"riff raff" even though you and your neighbors don't own the beach.
The false sense of economy is because the diesel overhaul or Imron® hull repainting isn't until year three so the first two years 5%, 5% then comes the 35% year.
Hub seeing picture: giggle.
That is right Rob, the average is about 15%, and folks are lulled to sleep, so to speak, by a lean first year or so.
Diesels these days last and last, usually much longer than the ownership.
Worth every cent to ride in a 65' boat with a 30 knot cruise, as long as you can pay for it(or in my case be paid to do it).
The smell of fresh painted firewood in the morning! Thanks HGTV!
Volvo twin turbo diesels with closed cooling exchange system for the win. But what percentage of motors out there are the newer long lasting designs?
And "rope." Even the best stuff rots and unless you are really good you'll need a rigger to do it for you. And I thought rock climbing rope was expensive.
New post. Interesting coincidence.
If anyone needs a marine engine still in the crate, let me know. It's been sitting in storage for years.
Just keep the IO-360 safe. That's all I ask. ;)
Actually it doesn't matter anymore. I can buy a four stroke "model" engine that puts out more hp than the original Wright engine. Weighs less than 5 lbs.
But those diesels get hardly any use.
You cannot recharge the scuba tanks with sail power. Or so I am told by people who might know people who are rich enough to engage in such expensive distractions.
Had an Uncle stationed in sunny Sinop, Turkey during '63 where there was a diesel generator that had been running continuously since '48... There were two oilers working 12 hour shifts, and it had pistons the size of 30gal. drums. Probably running at about 90rpm, geared up to provide 50-60Hz ac... Never. Stopped. Not once in 17 years...
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