THE BIGGER THEY ARE.......THE HARDER THEY...YOU KNOW...FAAALLLLLLLL!

By
Real Estate Agent with Thomas Waite Real Estate Broker

Johnny Be Good...NOT!

YOU THINK "YOU'VE" GOT OVERPRICED HOME PROBLEMS...MR. SELLER...

Wednesday, April 18, 2012 — It has sixteen bathrooms, lots and lots of bedrooms, a seventeen-car garage, marbled floors, gold leaf ceilings, a vineyard, horse stables, tennis courts and a private lake.  The property is on the largest parcel of residential real estate on southern California’s Golden Newport Coast.

John McMonigle (Google him)

Villa Del Lago

(Photo from the OC Register)

McMonigle's vacant house (he can't afford the utilities, now) will be auctioned in a week or two. It was once valued at $87 million, but who knows what it is worth now?  Pennies on the dollar?

The address is One Pelican Hill Road North, AKA Villa del Lago, and is quinticential housing bubble craziness. It's a story of the rise and fall of a Citizen Caeser who once ruled luxury real estate in the world’s most expensive housing market.

I'm assuming that he is living in more modest quarters now a days...

My advice to the Sellers who are talking Happy Talk to their Happy REALTORS®...

We're in FULL ELVIS mode, now: IT'S NOW OR NEVER...

SELL, sell, reduce, REDUCE and sell...NOW...

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Tom Waite

THOMAS WAITE REAL ESTATE BROKER

PO BOX 3205,  CYPRESS, CA 90630

714-895-2174 Direct; 714-398-8292 Fax  Tom@TomWaite.com

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