Jeff Scott listed his house for sale

[WhoRUSF]

17 minutes ago, bjef4844 said:

Why invest a $20k/month mortgage payment when you aren't going to be in that property 3 years from now - either he is successful and someone hires him away or he craps the bed and he is fired. Apathetic mediocrity, which is a USF staple, is the only way he coaches more than 4 years here.

Id be a thrilled Bulls fan if Scott led USF to 7-8 win seasons, and I'm not sure that guarantees he leaves for pee 5

[BullyPulpit]

This seems like a shrewd financial move. Strike while the market is still hot and don't get stuck with a house you won't need in 3 years. Let's face it, Scott is highly unlikely to be here on a second contract. Either he performs and moves up to P5 or he doesn't and gets canned. He can easily make $400k to $500k in profit from selling the house now, which is not a bad return in just 15 months. It is a gorgeous home on a massive lot. 

[chapelbull]

25 minutes ago, flsportsfan83 said:

Market is at the top right now, he won't be here forever. Might as well rent until he leaves or gets fired.

 

2 minutes ago, BullyPulpit said:

This seems like a shrewd financial move. Strike while the market is still hot and don't get stuck with a house you won't need in 3 years. Let's face it, Scott is highly unlikely to be here on a second contract. Either he performs and moves up to P5 or he doesn't and gets canned. He can easily make $400k to $500k in profit from selling the house now, which is not a bad return in just 15 months. It is a gorgeous home on a massive lot. 

He should make a killing on that house 

[BulledOver]

4 minutes ago, BullyPulpit said:

This seems like a shrewd financial move. Strike while the market is still hot and don't get stuck with a house you won't need in 3 years. Let's face it, Scott is highly unlikely to be here on a second contract. Either he performs and moves up to P5 or he doesn't and gets canned. He can easily make $400k to $500k in profit from selling the house now, which is not a bad return in just 15 months. It is a gorgeous home on a massive lot. 

He can make a big hit on the house in this market but...he has to find another house and the supply is dwindling. 

[BullyPulpit]

Just now, chapelbull said:

 

He should make a killing on that house 

He bought it for $2.5 million in January 2020. Assuming he can sell it for $3.15 million or so, he would be looking at clearing nearly $3 million after the realtor commission is deducting, resulting in a $500k profit, which would more than offset the $270,000 pay cut he took due to Covid. 

[BullyPulpit]

1 minute ago, BulledOver said:

He can make a big hit on the house in this market but...he has to find another house and the supply is dwindling. 

He should look to buy something more reasonable to ensure that he doesn't take as big of a hit when the market inevitably turns downward over the next few years. The market is pretty sparse right now, but there are a couple of $1.8 million homes available in Avilla right now.

For those interested in seeing more of Jeff Scott's mansion, here is the Zillow link:

https://www.zillow.com/homedetails/4901-Turnbury-Wood-Dr-Tampa-FL-33647/51585897_zpid/

[hm101]

That's a lot of real estate commission though to sell and re-buy... 

[BullyPulpit]

Just now, hm101 said:

That's a lot of real estate commission though to sell and re-buy... 

Yes, but he received a really good deal on the property, getting it for essentially $1 million less than Lovie Smith paid for it in 2014. Between the mortgage and the home equity line he has on it, he only owes about $2.2 million. If he were to clear right near $3 million after commissions, that would leave him with about $800,000 to put into a new home. If he buys one of the ones in Avilla for $1.8 million, that leaves him with a $1 million mortgage, thus reducing his debt burden by 55%. If home values were to dip by 20% over the next 3 years (possible, even if not probable) he would cut his losses by around $250,000 between the two homes and go from a position of breakeven at the time of sale on the larger home to a position of walking away with about $500,000 on the smaller home. I am certain that Jeff Scott has a financial planner/adviser that is far more versed in all of this than am I, but I have to believe that is the thought process going on here. 

[BulledOver]

10 minutes ago, BullyPulpit said:

He should look to buy something more reasonable to ensure that he doesn't take as big of a hit when the market inevitably turns downward over the next few years. The market is pretty sparse right now, but there are a couple of $1.8 million homes available in Avilla right now.

For those interested in seeing more of Jeff Scott's mansion, here is the Zillow link:

https://www.zillow.com/homedetails/4901-Turnbury-Wood-Dr-Tampa-FL-33647/51585897_zpid/

It will take a deep pocket buyer to have interest in his home. Kinda odd that he wants to sell so soon?? Does he know something about the Team that we dont know?? Will he commute from S Carolina? As I recall, wasn't Lovie's house on the market for quite a while before Scott's bought it? Oh well...a new mystery 

[BullyPulpit]

3 minutes ago, BulledOver said:

It will take a deep pocket buyer to have interest in his home. Kinda odd that he wants to sell so soon?? Does he know something about the Team that we dont know?? Will he commute from S Carolina? As I recall, wasn't Lovie's house on the market for quite a while before Scott's bought it? Oh well...a new mystery 

You can't find the right buyer if the home isn't on the market. There are only 10 homes for sale in all of Tampa in the $3 million to $4 million price range. All of the others are in South Tampa, so he has the only property for those looking for land and space. His home is also 4,000 to 5,000 square feet bigger than all of the other homes for sale, so really, given his location, he is in a market all his own.