Please Don’t Stop The Music
Please Don't Stop The Music -- Rihanna
When I first moved to Irvine, I lived in Oak Creek. It is still one of my favorite neighborhoods. My wife has given me her parameters for what she desires in a home, and today's featured property perfectly fits her description (now if I could just afford it...) It is in Oak Creek near the elementary school, it has a large yard, it is an open plan, the wood is a medium tone, and the surfaces are a medium tone granite, there is a downstairs den/bedroom, and the home itself is spacious. When prices get to the affordability range, this is the kind of property I will be bidding on.
Today's featured property is a story of of the Ponzi Scheme / Musical Chairs aspect of the real estate bubble coming to an end. The owner of this property is the one without a chair. I suspect she wishes the music would not have stopped playing.
Asking Price: $999,999
Income Requirement: $249,999
Downpayment Needed: $199,999
Monthly Equity Burn: $8,333
Purchase Price: $1,194,000
Purchase Date: 4/11/2005
Address: 2 Palmwood, Irvine, CA 92618
Read the rest of this entry »
