Ouch, HOA at The Marquee in Irvine will be raised in January to over $1300. Relative to other high rises in Irvine, this is obnoxious when one considers the lack of amenities, poor HOA Board managment, and general staff disposition.

Anyone interested in learning more, please check out www.savethemarquee.org. It’s a forum for owners/tenants disatisfied with the current state of The Marquee.

Thanks,

RobinHood.

robinhood - 08 December 2008 08:30 PM

Ouch, HOA at The Marquee in Irvine will be raised in January to over $1300. Relative to other high rises in Irvine, this is obnoxious when one considers the lack of amenities, poor HOA Board managment, and general staff disposition.

Anyone interested in learning more, please check out www.savethemarquee.org. It’s a forum for owners/tenants disatisfied with the current state of The Marquee.

Thanks,

RobinHood.

Long Marquee thread here
http://www.irvinehousingblog.com/forums/viewthread/1453/P275/

www.savethemarquee.org

I am tempted to join and troll.  How says the IHB?

Go go go

I’ve been wondering for a long time how long it would take for HOAs to significantly raise their assessments due to increased costs/declining income.

Maybe we could change the title of this item to “Big increases in HOA fees”

I wonder how many of the HOAs around south coast are doing the same?  Partially sold HOAs in new developments in Irvine?

Just checked out their blog and all I can say is YIKES!

I haven’t bothered to check the blog, but why can’t this place lower HOA’s by reducing staff and maintenance?  You don’t need a lobby attendant 24-hours a day (I’m just assuming that is what they get) - cut out an 8 hour shift.  You only need a cleaning crew at most once a week (assuming they get something more frequent). Etc. Etc.

Just to give you an idea of their annual budget…

http://www.savethemarquee.org/forum/viewtopic.php?f=2&t=20

Looks like Robinhood is a Marquee resident from what I can read.

http://www.savethemarquee.org/forum/viewtopic.php?f=8&t=19

Yes I am. Sometimes I wish I wasn’t.

I feel for you man.
We looked at Marquee when they first went on sale.
It just seemed so over priced even at that time.

Here is a Coast Magazine article of that period.
Mentions your HOA President too.

http://cache.zoominfo.com/CachedPage/?archive_id=0&page_id=1628836876&page;_url=//www.coastmagazine.com/features/may06_moving.html&page_last_updated=7/12/2006+11:57:36+PM&firstName=Thomas&lastName=Testa

Face it. His idea of living “high on the hog” is no longer possible.
He and all of the owners in your building need to make some cuts
for the common good of the residents.

I am so thankful I bailed and left….
I do feel for ya though, its not easy being stuck.  I would organize a revolt.
good luck
-bix

biscuitninja - 09 December 2008 01:00 AM

I am so thankful I bailed and left….
I do feel for ya though, its not easy being stuck.  I would organize a revolt.
good luck
-bix

You would have had a hard time storing your 4 cars and .50BMG in a high rise.

robinhood - 09 December 2008 12:27 AM

Yes I am. Sometimes I wish I wasn’t.

Robinhood,

I am familiar with all your posts on Save the Marquee. You are one passionate individual. Keep up the good work. You remind me of Molly Brown. Good luck. She did save many souls but could not prevent the disaster.

Last year when I looked at the rents at Marquee. Lowest was around $ 2900.00
for the 1200 Sq Ft unit.

Now they are down to $ 2200.00 a month at lease.
http://www.mcmonigleurban.com/
3141. Unit 601.

I looked at your blog too Robinhood.
Man you have one uphill fight on your hands.

Old saying. “The fish stinks from the head first”.
Sack that HOA president that has his head in the “RE Kool Aid High Rise Clouds” first thing.

High Gravity - 09 December 2008 01:03 AM

biscuitninja - 09 December 2008 01:00 AM

I am so thankful I bailed and left….
I do feel for ya though, its not easy being stuck.  I would organize a revolt.
good luck
-bix

You would have had a hard time storing your 4 cars and .50BMG in a high rise.

Nope, can’t do it unless I purchase 2 places.  The Barret is alas no more, I sold it for a small profit (100%)(.416 barrel and .50 barrel - out in a state that isn’t irrational about expensive caliber rifles…).  I hope to get a new rifle called Bohica in .510 DTC, which goes around the california law….  as the bullets are ALL custom (~$6 round) its not a cheaper alternative.

I still like the high rise concept, but I think its not cost efficient here because we just don’t have the population density.
good luck
-bix

no_vaseline - 08 December 2008 08:41 PM

www.savethemarquee.org

I am tempted to join and troll.  How says the IHB?

I was thinking about it, especially after reading that they think lowering their HOAs by a couple a hundred bucks it will help stop the bleeding of the prices. Then I read the comments by “Reason” (obviously no relation to the IHB member “Reason”), who they think is the board president Tom Testa, and I thought… If I troll there, I am gonna be trolling him, because he is a giant douche.

Robinhood, since I probably won’t join, you might to point out that Notice of Delinquent Assessments is public record. If it is Tom Testa, someone in RE and familiar with that whole public record recording thing, then he would know that you could go down to county records and look up the publicly recorded documents by searching “Marquee”, or you can see who has one recorded on them here and if they paid up and the lien was released. 

Is anyone surprised that Daniel Sadek’s name comes up?

Here’s an update

Not sure why the link isn’t working. But here’s a bit of cut and paste of some of what is being given back to the bank.

Here’s a breakdown of the O.C. properties involved:

According to Maguire’s web site: The lobby features “vaulted ceilings, marble flooring and herculite doors.”

bltserv - 09 December 2008 01:22 AM

Last year when I looked at the rents at Marquee. Lowest was around $ 2900.00
for the 1200 Sq Ft unit.

Now they are down to $ 2200.00 a month at lease.
http://www.mcmonigleurban.com/
3141. Unit 601.

I looked at your blog too Robinhood.
Man you have one uphill fight on your hands.

Old saying. “The fish stinks from the head first”.
Sack that HOA president that has his head in the “RE Kool Aid High Rise Clouds” first thing.

So net rent minus the is HOA is $900?  If you subtract taxes and Mello Roos, you must be getting pretty close to zero.  Geez.

Irvine condo’s price plunges 50% in three years
http://irvinehomes.freedomblogging.com/2009/11/12/irvine-condos-price-plunges-50-in-three-years/10115/