July 11, 2007

$1.5 million dollar house rents for $3975 a month

Burbed reader E.V. spotted this:

Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB
$3975 / 6br – Huge 6bed/5 1/2 bath Executive Home in EAGLE RIDGE COUNTRY CLUB (gilroy)
Reply to: hous-370156683@craigslist.org
Date: 2007-07-09, 2:28PM PDT

THIS HOME HAS IT ALL…Only 6 years old, it is loaded with two balconies, one that looks over a Pond on the 5th. tee.

Professional Kitchen with cherry wood cabinets throughout, Viking 6 burner stove, Sub-Zero refridgerator, with no home on the back or side yard.

Brand new swimming pool, tennis courts, elementry school, 8 1/2″ crown moulding and wainscoteing everyware.

Hardwood floors granite kitchen and each bedroom has its own private bathroom.

Beautiful views of every room in the home.

This home would sell for $1,500,000 but we have decided to keep it for the young children when they become adults. AVAILABLE AUGUST 1st.

Call for a private showing at 408/210-7740 and ask for Pierce.

2420 muirfield way, gilroy, ca 95020 at club drive at santa thersa ave google map yahoo map

Like E.V. I thought the comment about keeping the house for the young children around kind of amusing. This is one heck of a generous gift!

Assuming you put 20% down, an Interest Only ARM would still be $5,000 a month. A 30 year fixed? $7,388 a month.

It seems to me that there are other investments that may have better returns, but that’s just me.

Oh, BTW, E.V. also found that a business seems to be based out of this house:

Business Name: First Choice Funding Mortgage
Company Type: Mortgage Brokers
Street Address: 2420 Muirfield Way
City: Gilroy
State: California
Zip: 95020
Contact Email:
Phone: (408) 987-2286

What does this all mean? I don’t know.

Click here to post a comment -- Posted by: burbed @ 5:51 am

No Responses to “$1.5 million dollar house rents for $3975 a month”

  1. waiting_for_the_fall Says:

    It means you’re screwed if you rent it because you’ll lose your deposit when it’s foreclosed.

  2. bub Says:

    I Call Bullsh*T! God damn mortgage brokers have NO shame.

  3. Norcalboomer Says:

    sell the home and hire a spelling and language tutor for you and the kids!! Is “everyware” a new type of kitchen appliance/utensil or did you mean ” everywhere”? What elementary school does this area feed into, and do the teachers know how to spell ” elementry”? I know this is a bit picky and my language and spelling skills are not perfect but come on guys, most people that can afford this kind of rent can usually spell basic English words. At least have someone proofread your ad on Craiglist.

  4. jo jo Says:

    people you gotta click on the link for house its 1,650,000 are those kiddies in the pool kinda creepy

  5. House values soar in Gilroy - $1.5m -> $1.65m -- Burbed.com: Your San Francisco Bay Area Home and Mortgage Insanity Blog Says:

    […] familiar? It should. It was featured just yesterday on this site – but with one big […]

  6. greg Says:

    The rent/purchase ratio is way out of wack. But the funny thing is 4k/mo is a lot of money, I don’t even think most “average” people can afford the “below cost” rents that these homeowners are asking.

  7. $1.5 million dollar house becomes a $848,000 house | SF Bay Area Home Price and Mortgage Insanity Blog - Burbed.com Says:

    […] many moons ago… $1.5 million dollar house rents for $3975 a month | SF Bay Area Home Price and Mortgage Insanity Blo… July 11, 2007 $1.5 million dollar house rents for $3975 a […]

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