Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Des Moines Most Expensive House In Foreclosure
Old 02-20-2009, 04:11 PM   #1
Recycles dryer sheets
 
Join Date: Jan 2009
Posts: 170
Des Moines Most Expensive House In Foreclosure

The lavish home of West Des Moines developer Dave Walters price isn't just the most expensive resale home in the Des Moines area to ever hit the market at $3.9 million, it's also in foreclosure. The Walters family moved out last year and two banks have mortgages against the home totaling around $4.2 million. Waters was one of the top home builders in the area but became involved in projects that were never completed.

If a buyer is not found in a few months the home will go up for a sheriff's sale. The 14,000-square-foot home was finished less than two years ago. The ten-acre property includes a swimming pool, a 1,500-square-foot guest house, three garages, a quarter-mile walking path and its own football field complete with goal posts. The Des Moines Register says it is estimated that Walters spent about $5.2 million building the home after buying the 10 acres for $850,000 in 2005. It has a massive great room, media room, a huge 1,100-square-foot master bedroom and even a secret room hidden by a bookshelf. It is larger and more lavish than most homes in the area but at $3.9 million it may struggle to find a buyer before the deadline.



Des Moines Most Expensive House In Foreclosure, Estate of the Day - Luxist
__________________

__________________
Gpond is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-20-2009, 04:16 PM   #2
Thinks s/he gets paid by the post
2B's Avatar
 
Join Date: Mar 2006
Location: Houston
Posts: 4,330
I might be interested in the guest house. I can't even imagine the utility bills for the big place.
__________________

__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
2B is offline   Reply With Quote
Old 02-20-2009, 04:18 PM   #3
Moderator
ziggy29's Avatar
 
Join Date: Oct 2005
Location: Texas
Posts: 15,612
I couldn't afford to live there if you GAVE me the house. The taxes, insurance and utilities would kill me.
__________________
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

RIP to Reemy, my avatar dog (2003 - 9/16/2017)
ziggy29 is offline   Reply With Quote
Old 02-20-2009, 04:19 PM   #4
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
For me, this is a wake up call for the concept of moving to a less expensive area. I don't even get the concept of having grass around your building. Oh, wait, yes I do.
__________________
CuppaJoe is offline   Reply With Quote
Old 02-20-2009, 06:20 PM   #5
Thinks s/he gets paid by the post
ls99's Avatar
 
Join Date: May 2008
Posts: 4,792
I volunteer to be the caretaker, as long it is bank owned. Once someone buys it I'm outta there.

As caretaker get to have all the benefits, none of the costs.
__________________
There must be moderation in everything, including moderation.
ls99 is offline   Reply With Quote
Old 02-21-2009, 07:38 AM   #6
Full time employment: Posting here.
cardude's Avatar
 
Join Date: Feb 2006
Posts: 599
That thing is [moderator edit: very ugly]! Maybe the picture is from the wrong angle, and maybe I don't know what a $4,000,000 house looks like, but that house doesn't look all that impressive to me.
__________________
cardude is offline   Reply With Quote
Old 02-21-2009, 01:28 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
clifp's Avatar
 
Join Date: Oct 2006
Posts: 7,450
Maybe we could chip in to buy it as group home for those who've failed their early retirements. I wonder how many normal ER folks could live there. Do you think we could get it for say $1 million dollars.

I remember not too long ok we had a discussion about buying some beach property (in Costa Rica ), now mansions in Des Moines.

How sad I am even downsizing my fantasies..
__________________
clifp is offline   Reply With Quote
Old 02-21-2009, 02:54 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
bbbamI's Avatar
 
Join Date: Dec 2006
Location: Dallas 'burb
Posts: 9,039
It has a massive great room, media room, a huge 1,100-square-foot master bedroom and even a secret room hidden by a bookshelf.

That's what I need....a secret room. All I have now is this chair......
__________________
There's no need to complicate, our time is short..
bbbamI is offline   Reply With Quote
Old 02-21-2009, 03:13 PM   #9
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by cardude View Post
That thing is [moderator edit: very ugly]! Maybe the picture is from the wrong angle, and maybe I don't know what a $4,000,000 house looks like, but that house doesn't look all that impressive to me.
It is big! Wonder if you can see it from space where no one can hear you scream?

I don't think it's particularly ugly, I just don't understand it. I knew people who had a basement that looked like a sports bar and on the first level was a dinning room that could seat 100, and on 3rd level a large office, and a couple of gigantic bedroom suites with TVs and huge tubs in the bathrooms. They sold it a few years ago and moved into an old fashioned house with small rooms and doors. They can go to an office, bar, movie theater, hotel, restaurant, etc. for the other functions.
__________________
CuppaJoe is offline   Reply With Quote
Old 02-21-2009, 03:38 PM   #10
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,124
Quote:
Originally Posted by CuppaJoe View Post
It is big! Wonder if you can see it from space where no one can hear you scream?
Probably not. But if you plug "3800 Fuller Road Des Moines, IA" into Google Earth you can see it when it was being built.

What description would you use to denote the shape of that pool?
__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 02-21-2009, 03:42 PM   #11
Thinks s/he gets paid by the post
73ss454's Avatar
 
Join Date: Oct 2004
Location: LaLa Land
Posts: 4,378
I'm not sure but it looks like a bit of shrinkage is involved.
__________________
73ss454 is offline   Reply With Quote
Old 02-21-2009, 06:52 PM   #12
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by REWahoo View Post
...
What description would you use to denote the shape of that pool?
A chess pawn? Checkmate! The poor guy.
__________________
CuppaJoe is offline   Reply With Quote
Old 02-22-2009, 08:38 AM   #13
Full time employment: Posting here.
cantlogin's Avatar
 
Join Date: Sep 2006
Location: Pocono Mtns.
Posts: 884
Windows maps has a more current bird's eye view for:

3800 Fuller Road 50265

Is that a black Mustang with a racing stripe or something more exotic?
__________________
cantlogin is offline   Reply With Quote
Old 02-23-2009, 09:01 AM   #14
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Those maps are so revealing. Typed in my address to see if the for sale/foreclosure sign is there. No, but the picture was taken within a couple of years ago on a Sunday before the building was put up for sale; I know it's Sunday because there is an open house sign next door. The tenants who put up the red curtains have been there only a couple of years. J/k, there never was the word, "foreclosure" on the sign.
__________________
CuppaJoe is offline   Reply With Quote
Old 02-23-2009, 09:24 AM   #15
Recycles dryer sheets
 
Join Date: Jan 2009
Posts: 170
Quote:
Originally Posted by cardude View Post
That thing is [moderator edit: very ugly]! Maybe the picture is from the wrong angle, and maybe I don't know what a $4,000,000 house looks like, but that house doesn't look all that impressive to me.
There are more pictures at the original link. You are correct it is a bad angle. The house is very nice however the location sucks. It looks like their view is either a mall, school or office building. I am not sure what is right across the street from it. Whatever it is, it really ruined the location the house was built.
__________________
Gpond is offline   Reply With Quote
Old 02-23-2009, 09:25 AM   #16
Recycles dryer sheets
 
Join Date: Jan 2009
Posts: 170
Here is the view I was talking about, out the front.

__________________
Gpond is offline   Reply With Quote
Old 02-23-2009, 09:33 AM   #17
Moderator Emeritus
CuppaJoe's Avatar
 
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,866
Quote:
Originally Posted by Gpond View Post
There are more pictures at the original link. You are correct it is a bad angle. The house is very nice however the location sucks. It looks like their view is either a mall, school or office building. I am not sure what is right across the street from it. Whatever it is, it really ruined the location the house was built.
Real estate is about location? j/k!

In defense of Iowa, included in the lower cost of living is a built-in amusement park; the rolling hills and other terrain features result in roads that ride like roller coasters. Gotta be spectacular when the leaves change. Is it glacier country?
__________________
CuppaJoe is offline   Reply With Quote
Old 02-23-2009, 10:16 AM   #18
Full time employment: Posting here.
cantlogin's Avatar
 
Join Date: Sep 2006
Location: Pocono Mtns.
Posts: 884
Any opinions on the car?
Attached Images
File Type: jpg iowahouse.jpg (200.1 KB, 20 views)
__________________

__________________
cantlogin is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
foreclosure moratorium lazygood4nothinbum FIRE and Money 11 10-15-2008 12:55 PM
Foreclosure readings LeatherneckPA FIRE and Money 7 10-07-2007 07:51 PM
How expensive of a house spike Young Dreamers 12 04-27-2007 08:50 PM
Foreclosure questions... OldAgePensioner Other topics 11 05-20-2006 09:24 AM

 

 
All times are GMT -6. The time now is 01:13 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.