Wednesday, September 5, 2007

Too Much for Countrywide


7.5 million dollar view


7.5 million dollar house

This house is located in Pebble Beach on 17 Mile Drive right across the street from the Pacific Ocean. Here is the property information:

  • .9 acre lot
  • 4500 sq. ft.
  • 3 bedrooms
  • 3 full, 2 half baths
  • Slate roof
  • 3 fireplaces
  • Marble, Wood, carpet flooring
  • Central forced air (whatever)
  • 3 - car garage
Homes in Pebble Beach range from $4 million to $28 million. I'm just a regular Joe with a simple mind, so on a loan calculator I figured out what 7.5 million means to me in financing terms. At 7% interest, 30 year term, the mortgage would be $49,897 per month...not to mention what the taxes, insurance, and maintenance would cost.

I'm sure Mr. Millionaire won't be going to Countrywide or Ditech for his loan, and you won't see a sign plastered in the front yard advertising, "Financing Available Through Mutt and Jeff's Finance Co."

Considering I griped about paying $9 for the privilege to drive through the "prestigious" neighborhood, I'm gonna say that doesn't make me the Pebble Beach type. Plus, I'd always be griping about the golf fees at $475 + a cart. At that rate I'd take two days to walk the course if I had to...no golf cart for me...I'm on a budget...I have to pay the maid and the gardener so I can sit and enjoy the view, and watch the poor folk who paid 9 bucks drive by.

3 comments:

Count Nadeau said...

I really don't get it. Lakefront property in Chicago doesn't go for that much money even on the Gold Coast. You could buy yourself a "slate" roofed house overlooking the ocean in a similar climate in Europe for a fraction of that cost. No golf courses though; you'll have to satisfy yourself with Roman Ruins and fields of lavender.

Anonymous said...

Mutt and Jeff's Finance Co? LOL. That's where I need to go to get my loan.

Anonymous said...

Bring a newspaper and tell them at the gate, you are going to a garage sale. That's what the locals do.