March 15, 2011

YEARS WERE EXSPENDED… OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS

Yet another terrific find came up in comments.  Our thanks to Burbed reader Tuno for finding this… indescribable property, where thought, labor and love… couldn’t come up with a copywriter who could pass high school English.

2544 Butch Dr, Gilroy, CA 95020
$4,999,000

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BEDS: 6
BATHS: 9.5
SQ. FT.: 10,300
$/SQ. FT.: $485
LOT SIZE: 10.21 Acres
PROPERTY TYPE: Detached Single Family
STYLE: Mediterranean
STORIES: 3
VIEW: Mountains, Valley, City Lights
YEAR BUILT: 1991
COMMUNITY: Morgan Hill/Gilroy/San Martin
COUNTY: Santa Clara
MLS#: 81105945
SOURCE: MLSListings
STATUS: Active
ON REDFIN: 19 days

TASTEFUL ELEGANCE & QUALITY BEST DESCRIBE THIS TRULY UNRIVALED ESTATE SETTING!YEARS WERE EXSPENDED WITH THOUGHT, LABOR & LOVE TO COMPLETE THIS OWNERS VISION OF THE ULTIMATE EQUESTRIAN ESTATE * OVER 10,000SF OF LUXURY LIVING W ATTCHED AU PAIR QRT * OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS W CUSTOM POOL & OUTDOOR KITCHEN * ADJOINING 10AC PARCEL BOASTS A 1ST CLASS EQUESTRIAN FACILITY W 8STALL

Here’s what Tuno had to say about this, um, listing:

pretty incredible, esp. for Gilroy

Then Burbed reader nomadic nails it:

The first pic look straight out of a Shrek cartoon.

imageToo bad this owner EXSPENDED so many YEARS with THOUGHT, LABOR and LOVE, because this property is the OWNERS VISION OF THE ULTIMATE EQUESTRIAN ESTATE.  Perhaps it would be yours too? 

As featured in the most recent Thomas Kinkade, Painter of Light, gallery tour of East Tracy.  I think that means he doesn’t use very much paint.  Like just one coat.

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Maybe the exterior is by Kinkade, but this staircase at right was obviously designed by M.C. Escher.  They could have used something like this in Inception to keep the assassins from finding them so fast.  Also wouldn’t it be great to see a freight train knock down that statue?

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Oh dear, is that… our first sighting of… that hallmark of CLASS and KULCHUCH?  It’s hiding in the back left.

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No I must have imagined it.  Nothing but overdone French provincial dining set, probably not even included with the house.

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YESSSSS!!!!!!!  MAWBUL KAWLUMS!!!!!  FTW!!!!

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A sky you can’t believe in.  They must have had Kinkade paint that too.

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The horse facility is actually better than most of the houses we feature, although that really isn’t saying much.  W 8STALL.  But remember, this is on the ADJOINING 10AC PARCEL.

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All set to put in a vineyard… as long as you can come up with about four million acre feet of water.  And once you do, then you’ll have your RESORT LIKE OAIS.

Comments (16) -- Posted by: madhaus @ 5:15 am

16 Responses to “YEARS WERE EXSPENDED… OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS”

  1. The Gilroy Alex Says:

    Gawd that’s fugly.

    That horrible …. thing … is walking distance from here.

    It looks like it was designed by demented Smurfs.

    I need to bookmark this page, so when things get really bad I can make little maps to this place and post ‘em on every telephone pole to guide the Mutant Zombie Bikers to this place – I’ll write something about it being stocked with beer and MRE’s and owned by Rothschilds or something, that’ll do it.

  2. nomadic Says:

    It looks like it was designed by demented Smurfs.

    Well done!

    The stuff growing out of the kitchen ceiling reminds me of the scenes toward the end of Logan’s Run where they find the old man and all the cats.

  3. gallileo Says:

    The sky I can’t believe in looks straight out of Ghostbusters.

    The house I can believe in looks straight out of lifestyles of the newly rich and completely tasteless. Old money doesn’t do houses like that–at least not in freaking Gilroy (no offense Alex).

    The horse facility does look nice though.

  4. SEA Says:

    “* OVER A MILLION $ RECENTLY INVESTED IN A RESORT LIKE OAIS W CUSTOM POOL & OUTDOOR KITCHEN *”

    Let’s assume the above to be true. Now the question is simple, how much economic value was added. Let’s also forget, at least for this discussion, about time value of money (in other words, the discount rate is zero, as is most often the case in accounting). We also need to find two buyers that are willing to pay the most.

    The question is quite simple now: Do those two buyers value that “MILLION $” investment more or less than the cost?

    That said, let’s assume the investment is near zero profit (i.e. those two buyers value the investment near cost), it’s still a bit crazy to invest 25% (likely more) into a ~$4M (likely less) place when you’re going to sell right away.

    Who knows, maybe the seller’s asking price would have only been $3M (or less) without that last $1M investment, so the plan is to make $1M (or more) on a $1M investment?

    My guess, and this is only a guess, is that the $1M ‘investment’ will return less than 100%, so while the final selling price might be higher than without the $1M investment, the return on that last $1M is unfavorable to the seller.

    Oh, I know what some agents might suggest: But the place will sell sooner. As always, sooner can be accomplished with price adjustments–there is nothing that price cannot fix. But the idea of selling sooner is a time value of money issue. Even if we assume sooner to be true, the question one must ask is whether or not the added investment is better for the seller than just adjusting the price.

  5. anon Says:

    Well, remember that borrowed dollars are less valuable than earned dollars so if he put a million borrowed dollars in but only makes 500k real dollars out of it, he’s still even.

    Remember, SEA – property has certain attributes which are not adequately captured by typical economic models. Because your specialty is not real property, there is no way you can accurately analyze this property. These are the reasons that it is best to let the real professionals (real estate agents, brokers, and real estater) perform financial calculations on real property.

  6. sfbubblebuyer Says:

    Hahahahaha! In GILROY? Man, I’d love to have 10 acres there, but not for an oasis. I’d have my scrubland dirtbiking track set up in NO time!

  7. A. Lewis Says:

    Epic! The fake skies really hurt my brain. I love French Provincial!

  8. madhaus Says:

    PT Barnum was right.

  9. nomadic Says:

    Shrek
    Smurfs
    Logan’s Run
    Ghostbusters
    -and-
    Kinkade
    Escher

    Fun ways to describe today’s monstrosity. I’d like to add a comparison between the sky you can’t believe in and Van Gogh, as well as pointing out the similarity in the sky (see shot of the pool at sunset) and the animated logo for Disney movies.

  10. The Gilroy Alex Says:

    OK now I’m fully awake ….. damn geese woke me up at oh-dark-thirty again.

    Sfbubblebuyer – land’s getting cheaper out here all the time, and you don’t need 10 acres to have a dirt bike track, informal tracks are all over.

    I should be able to spot the conical witch-hat roofs with my binocs if it’s not behind a ridge or something from my vantage point.

    This might be what it takes to get me off my butt and building a serious potato gun!

  11. sfbubblebuyer Says:

    Gilroy :
    True, but convincing my wife we need our own private dirtbike trail when Hollister is just down the road is a tough sell. But man, I wish!

  12. Alex Says:

    Holy HDR-abuse, batman!

    These realtards need to be dragged out and lynched for doing bad photography (if you can call it that).

  13. anon Says:

    Exspended.

    As in “damn my exspended all my money on a clown house.”

  14. nomadic Says:

    You got it, homey.

  15. madhaus Says:

    Exspended? Is that anything like spaving?

  16. SEA Says:

    #15- Antonyms, maybe?


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