Thursday, June 15, 2006

I Thought Versailles Was in France or Something?

Update: Price Reduced: 07/10/06 -- $5,900,000 to $4,950,000
Also,'s "zestimate" puts it at $1,687,970.

This POS is in Belvedere and was sent to me by a reader (thanks!). I decided to post this one just in case there is anyone out there who thinks I have been discriminating against very expensive Marin POSs.

This one comes in at 5 br 6 ba, 2113 sq ft, built in 1955, and sits on 0.67 acre. It is asking $5.9 million. The realtor write-up goes like so:
The most exciting .67 acre estate to come on the market in decades. Dead flat, largest lagoon lot, 1BR/2BA main house, 2BR/2BA guest house, caretakers quarters with two BR/BA suites, pool, Versailles-like formal gardens. PRIVACY! AMAZING!
0.67 acre does not constitute "an estate" in my book nor does it imply 'amazing privacy'. Furthermore, I've been to Versailles and I can tell you from first-hand experience that only with the wildest stretch of the imagination does this POS resemble this:

Nor does its garden come anywhere close to those of Versailles:

I'm all in favor of community pride and all, but this comparison just plain smacks of Marin arrogance or realtor naiveté.

And how much do you want to bet that this POS is sitting on a liquefaction zone?


Blogger marin_explorer said...

I should add that I was not impressed with the condition of this home; there was decaying paint and dry-rot streetside.

And how much do you want to bet that this POS is sitting on a liquefaction zone?

Definitely: Belvedere Lagoon landfill, subject to earthquakes and the eventual polar cap melt. But that's not about to sour a stealtor's 6%. In the least, I'd think the seller/agent should realize there are far better Bel/Tib homes --at a fraction of that price.

June 16, 2006 12:22 PM  
Blogger addamillion said...

True, Versailles was in France. But Louis XIV was so enamoured with Marin County, and particularly its unique realtor-speak language, that he moved his summer home to Belvedere. I think you can see him lurking in the shadows. Vive le France!

June 16, 2006 7:50 PM  
Anonymous seattle price drop said...

Aw, come on Marinite, it may not be Versailles EXACTLY- but it's a darn close second runner-up, donchya think?

June 18, 2006 10:32 PM  
Anonymous Anonymous said...

$525 in Fairfax.

We just viewed this property today, the entire foundation is sliding off the hill, retaining walls bursting etc. the *hidden* second unit has been condemmed by the city of Fairfax (yes it is that bad) red tagged and about to slide down the hill behind.

The smell of sewer was very strong inside, I was genuinely too fearful to walk out on that deck, you could feel it flexing underfoot.

The realtor showing this property genuinely looked embarrased when we walked in.

June 18, 2006 11:25 PM  
Blogger marin_explorer said...

I was genuinely too fearful to walk out on that deck

I had a similar reaction from that photo--a plywood deck? That lot may be .4 acres, but how much of that is useable?; getting permits from Fairfax is another issue. Definitely another PoS candidate.

June 19, 2006 12:18 PM  
Anonymous Anonymous said...

Your photo montage was the best. Thanks for the laughs about "Versailles".. still laughing out loud

June 19, 2006 1:38 PM  
Anonymous DavidGolm said...

re: 320 SAN RAFAEL AVE for 5.9 million... (MLS # 20534109)

The guy passed away in July of last year and was carrying a mortgage balance of 1.2 million.

Zillow lists the place at 1.7 million.


What the hell is wrong with people?

June 19, 2006 4:33 PM  
Blogger Marinite said...

davidgolm -

That's the thing. People have been incredibly stupid with money vis-a-vis housing. This just goes to show that it is a speculative mania driving the housing market and not fundamentals. The heir(s) who is selling this house probably knows that and so is jacking the price up 3.5x because there is a fool out there who doesn't know any better. Sad. Sick.

June 20, 2006 11:11 AM  
Blogger Larry Nusbaum said...

I got news for you: Zillow isn't that good.....

August 11, 2006 9:35 PM  

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