Thursday, January 28, 2016

Bloomberg Business: The Surge in U.S. Mansion Prices Is Now Over (McMansions Sitting Unsold In Arcadia)

"Mysterious and spooky"
Mod: One of the big myths coming out of Arcadia these days is that all those Addams Family McMannies being built there are somehow creating extraordinary amounts of wealth, and their mere presence has been an economic boon for those privileged enough to dwell behind the Peacock Veil. And, like most myths, particularly those cooked up by specious special interest groups like the Arcadia Realtors claque, nothing could be any farther from the truth. Or at least according to those celebrated and always well-informed financial analysts at Bloomberg Business.


Bloomberg: The Surge in U.S. Mansion Prices Is Now Over

So apparently, and despite what you may have heard from all of the usual suspects, McMansions have actually become a financial burden on the communities where they are built as well. For the rest of this eye opening article click here.

Arcadia Chamber of Commerce Big Dome Quits, Heading to Nebraska
Memories.

Mod: Arcadia Chamber head Scott Hettrick, who has enjoyed some notoriety on this blog over the last year or so for his willingness to serve as an easy apologist for both Addams Family McMansion development and such infamous Arcadia political figures as John "Johnny GemCoins" Wuo, is hanging it up and heading for Nebraska. Of all places. Another sign that big changes are under way in Peacockia as its once all powerful old guard continues to just fade away.

Thanks to the assistance of invisible hands, here is Scott Hettrick's resignation letter.


Is it just me, or is there some irony in the confessed fact that the CEO of the Arcadia Chamber of Commerce can no longer afford to live in that town? And now finds the prospect of living in an apartment complex in Omaha to be a better option?

sierramadretattler.blogspot.com

48 comments:

  1. Dear Scotty,
    Too.Much.Information.

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    Replies
    1. Oh come on. It's sweet. He thinks we care!

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    2. We call that "poor mouthing."
      Impossible to know if that's really the reason they're moving.

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    3. He's a humble and caring man beset by real life problems. I think there is a dig in there against the city for not compensating him at the level he feels he deserved.

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    4. Scott Hettrick's letter said too much and yet said nothing about the real reason for leaving Arcadia. He must be good at writing fiction.

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    5. Boo freaking hoo.

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  2. Curse of One Carter continues....no McMansions on sacred Indian land.

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    Replies
    1. CETT and their charming representatives are still working on it.

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  3. Potential bankruptees at the Monestary...take note....McMansions are a loser.

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  4. Unsold McMansions need to be torn down and traditional Arcadia ranch homes built in their place.

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    Replies
    1. Another idea. Empty McMansions could be opened up for squatters.

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    2. Or homeless housing. With 10 bathrooms all their needs could be accommodated.

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  5. We used to have only 14 police officers back in the early 90s.
    We had basically the same population as we do today.
    There was no need to double the police force. It was done because certain group thought they could get away with
    big over development Idiots like Glen Lambdin Robber Stockley and Bart Doyle thought they could make big money off the destruction of Sierra Madre.
    But the people fought and won. Remember Measure V?
    Fast foward to recent years....the residents are winning again.
    This latest news about McMansions is very welcome to Sierra Madre preservationists.
    No more big government pension funds ...we don't have the population or tax base to sustain this.
    If we must keep the police...let's go back to small force....how about hiring better people...quality not quanity.
    Either that or get Sheriffs.

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    Replies
    1. Agreed but the time lag between us starting a "push-back" and getting a favorable result is a problem. People get dispirited when the fools in power seem to be winning.That is why groups like Preserve Sierra Madre are so important - they help us stay the course.And people like our current Planning Commission reassure us that there is some sanity in the process.

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    2. Agreed, 8:26. For the first time in years I am not worried about the town because of our Planning Commission. It's a novel and refreshing experience.

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    3. 8:41 You and the rest of the community should support the Planing Commission with your presence at both at their meetings and especially when their decisions go to the City Council. As witnessed Tuesday evening, Gene Goss and John Harabedian don't always support their decisions.

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    4. I adore everyone on the PC. But remember, The CC can overturn them.

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    5. I trust two people on the City Council. Neither of them wear ties.

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  6. Hunh. So Bloomberg thinks the McMansion boom in Arcadia happened because of money being smuggled out of China. Goll-ee. Can we get an "I told you so?"

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    Replies
    1. I understand a great deal of the money coming out of China is the proceeds of illegal bribes received by government officials.

      Maybe we can rename the City of Arcadia to Arcadia Money Laundry?

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    2. Where is the FBI when you need them?

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  7. "The Sierra Madre Mountains"? Did Obama rename the San Gabriel Mountains as well?

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    Replies
    1. We're taking over.

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    2. There are many reasons that McMansion prices are decreasing. You have the imploding ponzi scheme known as the Chinese economy, you have an awareness that McMansions are not good when you have a drought (one El Nino won't solve that problem) and you have the fact that when you have a development free-for-all everybody is vulnerable to a neighbor or builder tearing something down next door and destroying your views, privacy and value. Even a McMansion owner can be vulnerable to that happening next door. When you can't have security in the home you bought and alwsys thinking that the attributes with your home that you paid a premium for may be taken away at any time, its no wonder that Arcadia residents finally woke up to that fact.

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    3. Imagine. You just built a 5,000 sq. ft. McMansion and then the guy next door builds a 8,000 sq. ft. Starter Castle.

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    4. that's what they used to be called

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    5. What are they called now?

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  8. So the Hettricks took the all cash offer. Wonder where it came from, and what will happen to their house and their neighbors, though I doubt the Hettricks give a damn.

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    Replies
    1. It pays to have connections.

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    2. Scotty You Know WhoJanuary 28, 2016 at 8:14 AM

      If it's green, it's me!

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  9. Hettrick lives at 67 E Arthur. The house is listed for $1,088,000 and already has a pending offer. He bought it in 1996 for $335,000. So his real estate taxes are low. And his mortgage is low unless he refinanced over the years and took cash out. His excuse that he can't afford Arcadia seems false. Maybe he has a few Gemcoin reasons to be fleeing the State.

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    Replies
    1. Yes. Glad to see I am not the only one who found his story to be a bit too explanatory to be true.

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    2. That part of Arcadia looks like it has not been hit with the MacMansion gangrene yet...wonder if Hettrick's all cash buyer will start the ruin?

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    3. And in his resignation letter Scotty gives a cheap shameless plug for his sicophant McMansion real estate agent.

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  10. Maybe Scotty is getting out of town before the GemCoins hit the fan.

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  11. You know, a lot more people can afford $1 million vs $5M. Supply and demand baby! The mcmansions aren't selling as well, but the cheaper, less expensive houses are. Unless they're right next to a mcmansion.

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  12. Another 'hat trick' pulled on the unsuspecting tax paying public now back to the bouncing ball, Sierra Madre, California can save as much a $1 million dollars when they switch over to LAC Sheriffs Department. Next make a list of the projects in Sierra Madre this extra money can go towards.

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    Replies
    1. Maybe we could give raises to all those loyal city employees. Or maybe we can double the chief's salary when the sheriff's take over as he will be acting as their liason or we could build a new library. We could make sure that the condo's being built at the church site will only go to city employees who can't afford to live in our town. Or we could afford to pain all our unsightly mailboxes, etc. according to the plans that were accepted. Wow! So many things we can do with that money!

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    2. My name is Ann!!!! i just want to share my experience with everyone. I have being hearing about this blank ATM card for a while and i never really paid any interest to it because of my doubts. Until one day i discovered a hacking guy called Donard. he is really good at what he is doing. Back to the point, I inquired about The Blank ATM Card. If it works or even Exist. They told me Yes and that its a card programmed for random money withdraws without being noticed and can also be used for free online purchases of any kind. This was shocking and i still had my doubts. Then i gave it a try and asked for the card and agreed to their terms and conditions. Hoping and praying it was not a scam. 3 days later i received my card and tried with the closest ATM machine close to me, It worked like magic. I was able to withdraw up to $5000 Daily. This was unbelievable and the happiest day of my life. So far i have being able to withdraw up to $155.000 for 31 days without any stress of being caught.

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    3. Ann!!!! Do you work at City Hall?

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  13. Thanks Mod for posting these two great topics about Arcadia.

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  14. 6.16 does anyone know what she is talking about? A free cret card?

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  15. Yes, 6:16 is working at Sierra Madre City Hall. Her pay is coming out of yours and my pockets.

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  16. https://www.google.com/?gws_rd=ssl#q=The+Blank+ATM+Card

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  17. Scott, Good bye to bad rubbish, don't let the door hit you in the a..!

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    Replies
    1. AMEN x 2. WELL SAID. Gotta protect the a... that Sho Tay paid for.

      What a crock of horse manure. Resigns pleading poverty then crows about a windfall selling his house. He sold hi soul years ago. Wonder how much he got for it.

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