Over the top in Foothill Ranch

It's amazing how quickly popular sentiment has changed in light of the deteriorating economy. If you follow baseball, you probably know the New York Yankees recently signed pitcher C.C. Sabathia to a completely outrageous, $160 million contract. Typically, the reaction would be: "Well, they're the Yankees. They can do whatever they want."

But, this free agent move has stirred up some questions and ill will - even from some Yankees fans. How could they carelessly throw that kind of dough to one guy while raising ticket prices when so many of us are barely getting by?

And, for that matter, how the heck could those car company CEOs step off their private planes and then convincingly argue how they desperately need money? We know, we know - safety issues.

Not too long ago, over-improved homes with all the amenities were put on a pedestal. And why not - with home prices rising and seemingly endless access to improvement funds, your imagination was the limit. Your home really could become your castle...decked to the hilt with stainless steel and granite.

Today, this sort of over-the-top opulence and shameless consumerism kind of seems...wrong and out of place. See what you think about this Foothill Ranch property.

30 Flores, 92610
Asking price: $1,240,000
Asking price/ sq ft: $344
Purchase price: $1,100,000
Purchase date: 3/17/06
Size: 4 beds, 4.5 baths, 3,601 sq ft (built in 1991)
MLS: P660018 (62 days on Redfin)
Zillow Zestimate: $713,000
HOA dues: $70
Type: Single Family Residence
Style: Santa Barbara
Stories: 2
Lot size: 6,391 Sq. Ft.
From listing: **STOP**The pictures in listing truly tell the story, nothing misleading here. **NO Detail missed**. Every Bedroom is a suite with it's own full bath, new cabinets/granite, 3 bedrooms include wall mounted Hi def LCD TV's. Located at end of cul-de-sac this home has well over **$200k+** in recent high end upgrades that include new windows throughout, custom wood flooring, new carpet, wood/wrought iron staircase, big open gourmet kitchen, new built in fridge, high end appliances and new cabinets. Tons of custom lighting, Big Bonus room with upstairs inside laundry room. All Plumbing internally epoxy coated. Noritz tankless water heater with commercial grade water softener system. Dual AC units and furnaces only a few years old. Hard wired alarm system with heat/smoke detectors and full outdoor security with 4 cameras. Custom outdoor patio with 4 built in heaters. Garage has custom cabinets and flooring. Home has 8 flat screen TV's that are negotiable as is the furniture. Move-in & Relax.

8 TVs. Really. 'Cause 9 would have been way over the top.

This property was listed in May for $1.28 million, and without a buyer fell off in July. That description may have been even worse: "Tired of looking at homes with no upgrades, old cabinets, flooring and windows that barely work and more. This home has over 200k in upgrades, new windows, High end wood flooring, new carpet, wood/wrought iron staircase, Kitchen just redone, new built in fridge. Tons of new lighting, canned lights, 200 amp panel.High end window coverings. Bedrooms have full baths and granite and new cabinets. Large Bonus room and upstairs laundry. Garage has custom cabinets, carpeted, overhead storage and new Garage doors and openers with the highest insulation value..."

We sincerely hope that someone shopping for a house that costs more than $1.2 million would be able to find others without "old cabinets, flooring and windows that barely work." Just a thought.

Do you think - including the $200,000 in upgrades - this property is now worth $140,000 more than its 2006 price? Doubtful.