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Started By
Message
re: Joe Rogan shreds people for saying Donald Trump’s Mar-A-Lago is only worth $18Million
Posted on 10/5/23 at 10:01 pm to cajunangelle
Posted on 10/5/23 at 10:01 pm to cajunangelle
quote:
Joe Rogan
0
Posted on 10/5/23 at 10:02 pm to GRTiger
quote:
what is the point of dying on retard hill? Seriously
He’s a progressive. He’s not capable of understanding
Posted on 10/5/23 at 10:51 pm to roadGator
quote:
I don’t give two shits about Manhattan. I have no idea what this whataboutism is about.
It’s not whataboutism it’s part of the case as are several other properties.
quote:
I do know that lenders check real estate beyond what I tell them it’s worth. Otherwise, I’could tell them my house is 7500 square feet and worth 2.2 mil. FFS
It wasn’t just a valuation it was a misrepresentation or omission of consequential facts. Overstating sq footage, omitting deed restriction language. And this didn’t result in 10-20% variations, it was in the order of 300%+.
Posted on 10/5/23 at 10:51 pm to LSUBALLER
quote:
LSUBALLER
Listless vessel.
Posted on 10/5/23 at 10:53 pm to GRTiger
quote:
I honestly have no fricking idea what purpose it serves to just blindly agree with AG Leticia about an obviously bogus valuation.
Neither do I. You should find someone who does. You listless vessels get so mad you can’t read.
Posted on 10/5/23 at 10:55 pm to GRTiger
quote:
what is the point of dying on retard hill? Seriously
A lot of people are more comfortable dying at home.
Posted on 10/5/23 at 10:58 pm to Flats
You should read the opinion.
Posted on 10/6/23 at 7:27 am to cwill
Thread about mar a lago. Cwill bitching about Manhattan.
Posted on 10/6/23 at 7:33 am to cajunangelle
Not a fan of Rogan but, he's right on this.
Posted on 10/6/23 at 7:51 am to robinette
quote:100% he is smarter and 1000% wealthier than you.
Joe Rogan said that!? Why hasn't the case been immediately dismissed!?
Oh wait, b/c he's a roided-out idiot with shite for brains. Carry on!
Posted on 10/6/23 at 7:54 am to cwill
quote:
Trump claimed a 2X value.
And? The bank can do whatever it wants you dummy
Posted on 10/6/23 at 8:04 am to angusjung
quote:
Oh, you saw it on a show? In that case it MUST be true.
Wait you think it’s only worth 18 million?
Posted on 10/6/23 at 8:06 am to cwill
quote:
So you think a deed restricted property that can only be a social club and can’t be subdivided has the same full value as a single fam residence? What about claiming 30k square feet on a 10k sqrare foot residence in Manhattan? Legit?
You are going to be hard pressed getting us angry at a guy that paid back his loans.
How much did Biden promise to forgive?
This post was edited on 10/6/23 at 8:07 am
Posted on 10/6/23 at 8:09 am to cwill
quote:
So you think a deed restricted property that can only be a social club and can’t be subdivided has the same full value as a single fam residence?
It’s an income producing property. It’s likely worth more per sf/acre than residential property. This is such an idiotic hill to die on. Even for you.
Posted on 10/6/23 at 8:16 am to cwill
cwill enters the chat as such a neverTrumper you would argue a needle in a haystack & that water isn't wet, to hate on Trump.
quote:
Trump’s Mar-A-Lago Is Worth Far More Than The Value Judge Cited, Local Real Estate Experts Say
*The Palm Beach County Assessor’s appraisal of Mar-a-Lago cited by the judge in Trump’s civil fraud case is well below market value, local real estate experts told the Daily Caller News Foundation.
*Judge Arthur Engoron cited an estimate valuing it “between $18 million and 27.6 million,” but Palm Beach Board of Realtors President John O. Pickett III told the Daily Caller News Foundation that colleagues believe it to be “worth $250 million or more.”
*Becky Robinson, public information officer for the Palm Beach County Property Appraiser’s Office, told the DCNF that the value is “for taxation purposes only.”
The Mar-a-Lago property value cited by the New York judge overseeing Trump’s civil fraud case is far less than market value, local real estate experts told the Daily Caller News Foundation.
Judge Arthur Engoron ruled last week that Trump committed fraud by exaggerating his net worth and assets, deceiving banks and insurance companies. Engoron cited the Palm Beach County Assessor’s appraisal of Mar-a-Lago in the ruling, which was “between $18 million and 27.6 million” from 2011-2021, numbers local real estate experts say do not match market value.
“I don’t think the numbers being reported ($18-25 million) are even close to the true market value of Mar a Lago,” Palm Beach Board of Realtors President John O. Pickett III told the Daily Caller News Foundation.
“I don’t know what the current Mar a Lago zoning is, and zoning is critical in establishing value; however, if Mar a Lago was zoned residential, the property alone (not including the buildings) is worth well, well over $100 million,” Pickett said. “Without doing a detailed analysis, and just based on what people have paid for other properties, I should say that many of my colleagues believe Mar a Lago to be worth $250 million or more.”
Based on the assessor’s numbers, the judge wrote that Trump overvalued Mar-a-Lago by at least 2,300%. Trump placed the value as between $426,529,614 and $612,110,496 on filings over the same 2011-2021 period, according to the ruling.
“That property is so unique that it would not be easy to value but the market would support a much higher value than the tax assessment in my opinion,” Doug Martin, a real estate broker in Palm Beach, told the DCNF. “It’s hard to gauge what billionaires will pay if they want it.”
Some single-acre pieces of waterfront land without property located in the same ZIP code as Mar-a-Lago are valued higher on Zillow than the judge’s number, including one listed at $74,500,000 and another at $21,900,000. Two empty parcels of land just over 2 acres are listed at $200,000,000 and $150,000,000, respectively.
A number of single-family, five-bedroom homes are also valued higher on Zillow, including a residence listed at $37,500,000, another priced at $34,500,000 and a third at $23,000,000.
Forbes has pegged Mar-a-Lago’s worth at $325 million.
Posted on 10/6/23 at 8:17 am to BBONDS25
quote:
It’s an income producing property. It’s likely worth more per sf/acre than residential property. This is such an idiotic hill to die on. Even for you.
Hes literally a moron for saying that
Posted on 10/6/23 at 8:25 am to robinette
Number of Posts: 48
POST LESS
POST LESS
Posted on 10/6/23 at 8:28 am to cajunangelle
quote:
*Becky Robinson, public information officer for the Palm Beach County Property Appraiser’s Office, told the DCNF that the value is “for taxation purposes only.”
This is exactly what I said before. The county’s number was strictly for tax assessment purposes. Rather than reappraise everyone’s property every year, the tax rate is updated to accommodate changes in value.
For an actual appraisal (which I’ve done), you’re looking at it from 3 perspectives - Comparables, Cost approach (land plus building a structure), and income approach. You use these to determine the highest and best use. Regarding the deed restriction, grease the right palms and that can be changed.
The judge looked for an excuse to go after Trump, and the press and AG just confirmed how gullible and stupid they are.
Last time I checked, the bank hires the appraiser, not the homeowner. It’s the appraiser’s responsibility to pull deeds etc. it wasn’t Trump’s responsibility, it was the bank’s.
This post was edited on 10/6/23 at 8:32 am
Posted on 10/6/23 at 8:31 am to cwill
quote:quote:
Do some comps. $150-300M
Trump claimed a 2X value.
there are valuations as high as 700MM, which was the point Rogan was making.
this isnt an 1800 sq ft single family ranch in a subdivision, idiot. Properties like this are extremely difficult to evaluate. Either way, the onus is on the bank to independently evaluate assets, especially when they are used as collateral. No bank issues loans based on the homemowner's opinion of its value. That's absurd.
Remember kids, when you rush in to defend the indefensible, you end up looking like a retard.
Posted on 10/6/23 at 8:33 am to Vacherie Saint
Correct. If Trump doesn’t agree with the bank he can hire an appraiser and appeal a loan decision, but at the end of the day it’s on the bank, not Trump.
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