Date of Purchase: 7/1/2005

Purchase Price: $1,466,810

First Tax Installment Due 12/11/06: $10,561.49

First Supplemental Tax Due 12/11/06: $2,603.74

(Above information from OC Tax Assesor site)

Days on Market: 108

Price Reduced: 07/02/06 — $2,195,000 to $2,095,000

Price Reduced: 08/17/06 — $2,095,000 to $1,999,999

Price Reduced: 09/11/06 — $1,999,999 to $1,939,900

List Price 10/1/06: $1,939,000

So I finally took a look inside this house today. Not that I haven’t had lots of opportunity – it has been open practically every single weekend, all summer long. For several weeks, there were about 6-8 signs plus several large flags parked on the lawn. Today’s open house was a bit more toned down, with only a couple of signs. Guess they finally realized how transparent that made their desperation (as if having an open house every single weekend doesn’t smack of desperation all by itself).

The house is absolutely beautiful. Other than its lousy location (on a very busy corner right near one of Woodbury’s main entrances), I just love this house. I always try not to let myself be distracted by nice interior decorating but this house is staged so fantastically that it’s hard to do so. Yeah, that’s right, it’s staged. As in, ain’t nobody livin’ in this house!

Notice the $13,000+ tax bill coming due in a couple months…the Realtor was very friendly but seemed a bit, oh I don’t know, stressed? Gee, I wonder why?

Serves the owner right. They expected to post a >$700,000 gain on a house they had owned for one year? Listen up, folks – your house is gorgeous. Cut the price down to a more realistic, non-gouging profit level and I’ll bet it’ll finally move. Keep it at 2 mil, and that’s fine by me since I’ll be happy to check back in on your open houses throughout the winter and spring to enjoy seeing what kind of house I plan on owning one day (using a fixed rate 30-year mortgage of course).