Rich SF residents get a shock: Someone bought their street


#101

Do you chakap melayu?


#102

Sounds like the Bored of Stupidvisors will more than likely kowtow to the rich farts of the Presidio Terrace. Let’s be quite honest, when the little guys make mistakes do the deep pockets ever give them a do over?

He also notes that the Board has authority under the tax code to rescind the sale — something that is noted in the small print accompanying online auctions — and that his office will “implement the direction it receives from the Board of Supervisors on this matter.”


#103

That happened to my dad. The judge gave the land back to the HOA that didn’t pay property taxes on their beach/park. He sited some statute about the HOA using and maintaining the beach, because they believed they owned it. Last time I checked, owning land means paying the property taxes. I’m not even sure if they had to compensate him for the back taxes he paid to get the land.


#104

Obviously not over yet, but if that is technically the law (that the Board has the authority to overturn sale) then the owners should have given the residents a decent deal that they couldn’t refuse. I would rather make say 50% or double your money than wasting your time and essentially getting just your money back.


#105

Government has no interest in seizing property. The city has returned property seized in the past there is pressident.
In fact my buddy who lives in that street had a property bought at city auction that was taken back from him… It is all about politics…


#106

well they may be actually in the red at the end of all this (legal fees, damaged career prospects, etc)


#107

:thinking::thinking::thinking::thinking:

That is a Malay phrase, no idea. :scream:

Spanish is my native language. :smirk::smirk::smirk:


#108

Right, so the lesson is one must be absolutely positive about the position held. It is just another hand of poker. If the Board can void the sale ultimately (and you knew this) then it behooves you to make the best deal you can, which is to make a little bit of profit and call it a day.


#109

I am watching the SF Board meeting online…awesome theater


#110

Boom!!! Really rich people: 1 Property Speculators: 0


#111

Who’s the lone rich person?


#112

Uh, the entire Presidio Terrace homeowners “team” just beat the property speculators and will get their lovely private street back.

Lessons learned from this:

  1. Don’t mess with rich people.
  2. Don’t mess with Diane Feinstein.
  3. If you were bright enough to get the rich people on a technicality, make a reasonable deal and walk away. Apparently these speculators offered the homeowners the opportunity to buy back the street for 10x the amount or about 950K. Come on, who is going to think this is reasonable? Supervisor Mark Ferrell didn’t.

I would go online or watch late night tv to see when this meeting is replayed. Good theater all around…


#113

Is there any potential political scandal here? Political figures are not supposed to have an influence on a civil dispute


#114

Come on, rich people play on a different stage. Do you think Diane Feinstein is going to help you out with your parking ticket? Hell, no. This is the ultimate lesson one can teach the kiddies. Choose rich, never poor…


#115

These two speculators got greedy… If the had been reasonable they could have made some money. instead the lawyers won as usual


#116

Rich white people win. Would work better if the couple were white as well. Too bad they are Chinese.

@sfdragonboy which stupidvisors voted yes, who voted no?


#117

My friend on the street is white. The city took away a property he bought at a tax auction. The house was owned by a black woman in Hunters Point… the city bought it back and let her live there till she died… This is politics not a racial issue… The city has and can revoke auction results. I have seen it many times at the court house steps…


#118

Don’t fight city hall. Don’t fight old money either. Fairly disappointing. David vs Goliath and Goliath just stomped on poor David.


#119

I believe the usual suspects voted for the small guy: Ronen, Yee, Pescon and Kim. I wonder if my Katy Tang will get some heat from some of her Chinese constituents.


#120

Hmm, just in case my Honda CRX breaks down when I finally go check out the famous Presidio Terrace neighborhood…