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Update: WaMu Pres. House Flip Attempt

The_TimThe_Tim
edited September 2009 in Seattle Real Estate
Former WaMu President Stephen Rotella purchased his home in 2005 for $3.78 million. Listed it last October for $6.25 million.

February 4th: Price drop! Down a whopping $0.35 million to $5.9 million!

What a steal!

Comments

  • The_TimThe_Tim
    March 4th: Price drop! Down another $0.65 million to $5.25 million!

    Now $1 million off original list price. What a steal!
  • tomtomtomtom
    edited March 2009
    Another WaMu exec is also doing his part:

    Purchased in 2006 for $1,895,000
    Listed Dec 21 for $2,250,000
    Price Drop to $1,975,000!

    Play golf on the 22nd floor!

    28197688_5_1.jpg
  • SeattleMooseSeattleMoose
    And what exactly was this person's "worth" to society in comparison to say a teacher, nurse, or police officer.....to justify this obscenely lavish lifestyle?

    It must be that while he was sitting in a swank office he made all sorts of "wise" business decisions that put WAMU on solid ground for the long haul.....ahem.

    The "high performers require high pay" argument is more than a little threadbare at this point as monkeys could just as easily have run the corporations/big banks/big finance into the ground as "high performing" CEOs (who gave themselves HUGE bonus for doing such a great job...with our tax money).

    The "elite financial class" in this country are little more than parasites.

    NOBODY should make 20 to 50 times more than the "bread and butter" folks who are the solid foundation of society. There is NOTHING anyone can do to justify that disparity in pay...NOTHING!!! (well....maybe Tom Cruise)

    I hope when the dust settles the banksters are put back in their place relative to others who actually provide services/products OF REAL VALUE to society.
  • The_TimThe_Tim
    SeattleMoose wrote:
    The "high performers require high pay" argument is more than a little threadbare at this point as monkeys could just as easily have run the corporations/big banks/big finance into the ground as "high performing" CEOs (who gave themselves HUGE bonus for doing such a great job...with our tax money).
    Hey, don't insult monkeys like that.

    The Chicago Sun-Times has got a stock-picking monkey that has beat the market for four years straight (seriously). I don't think any former WaMu exec can claim that kind of success.
  • EconEEconE
    tomtom wrote:
    Another WaMu exec is also doing his part:

    Purchased in 2006 for $1,895,000
    Listed Dec 21 for $2,250,000
    Price Drop to $1,975,000!

    Play golf on the 22nd floor!

    28197688_5_1.jpg

    Quite a few high end flippers/investors in that building.

    One thing about the "flipping" phenomenon during the bubble that I find interesting is the number of super-rich people buying super-expensive properties to flip.

    If I could pose just one question to this caliber of flipper it would be...

    "When you're already in the top .0001% of the income/wealth strata. Who can afford to pay more...than you already did?"
  • perfectfireperfectfire
    EconE wrote:
    "When you're already in the top .0001% of the income/wealth strata. Who can afford to pay more...than you already did?"
    The government?
  • rose-colored-coolaidrose-colored-coolaid
    perfectfire wrote:
    EconE wrote:
    "When you're already in the top .0001% of the income/wealth strata. Who can afford to pay more...than you already did?"
    The government?

    Would that be China's government? Because ours sure can't.
  • tomtomtomtom
    tomtom wrote:
    Another WaMu exec is also doing his part:

    Purchased in 2006 for $1,895,000
    Listed Dec 21 for $2,250,000
    Price Drop to $1,975,000!

    Play golf on the 22nd floor!

    28197688_5_1.jpg

    Price Drop to $1,740,000.

    Explains why Rototilla was The Boss.
  • WestSideBillyWestSideBilly
    $1335/mo HOA dues? What the hell!
  • tomtomtomtom
    tomtom wrote:
    tomtom wrote:
    Another WaMu exec is also doing his part:

    Purchased in 2006 for $1,895,000
    Listed Dec 21 for $2,250,000
    Price Drop to $1,975,000!

    Play golf on the 22nd floor!

    28197688_5_1.jpg

    Price Drop to $1,740,000.
    Do I hear $1,590,000?
  • rose-colored-coolaidrose-colored-coolaid
    What's a WaMu? Never heard of it.
  • tomtomtomtom
    tomtom wrote:
    tomtom wrote:
    tomtom wrote:
    Another WaMu exec is also doing his part:

    Purchased in 2006 for $1,895,000
    Listed Dec 21 for $2,250,000
    Price Drop to $1,975,000!

    Play golf on the 22nd floor!

    28197688_5_1.jpg

    Price Drop to $1,740,000.
    Do I hear $1,590,000?
    When lowering the price doesn't work, try raising the price to $1,650,000.
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