News Article: Jim McElwain takes loss on selling his Gainesville home

CrimsonForce

Hall of Fame
Dec 20, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

You're not making yourself sound any less petty.

How do you equate "tougher" with "dire straits"?
Replace dire straits with tougher and the substance is the same :rolleyes:
 

CrimsonForce

Hall of Fame
Dec 20, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Only if you're reading INTO what's written more than is actually written.
I'm reading the words that were written in the story :confused:. You think this is charity and I don't. Agree to disagree since you've moved on from the substance of what's being discussed to the minutia of it all..
 

uafan4life

Hall of Fame
Mar 30, 2001
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Florence, AL
Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

I'm reading the words that were written in the story :confused:. You think this is charity and I don't. Agree to disagree since you've moved on from the substance of what's being discussed to the minutia of it all..
Yet you seem to be ignoring what should be a huge piece of the puzzle; you seem to be completely ignoring the existence of and benefit to the charitable foundation.

Now, perhaps a significant, additional, realized value given to that particular foundation will not result in a significant amount of help to people whom you would classify as needy but perhaps it will; I'll give them the benefit of the doubt, there, and assume it will.
 

CrimsonForce

Hall of Fame
Dec 20, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Yet you seem to be ignoring what should be a huge piece of the puzzle; you seem to be completely ignoring the existence of and benefit to the charitable foundation.

Now, perhaps a significant, additional, realized value given to that particular foundation will not result in a significant amount of help to people whom you would classify as needy but perhaps it will; I'll give them the benefit of the doubt, there, and assume it will.
I hope this transaction helps out a ton of children and is a benefit to the community there. I just don't see it as charity given the financial status of the party on the receiving end. There can still be good gestures like this without it being fawned over as some great charitable gesture when there's needy people out there who are in need of true charity..
 

TomFromBama

Suspended
May 14, 2003
1,142
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Lower Alabama
Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

In a way, if you actually pay attention to what appears to have happened, Coach Mac gave much more - in terms of eventual, realized value - to this family and their foundation than just the loss he took on the house.

I'm really not sure why you guys got your panties in such a bunch. It's not like either party entered into the transaction looking for publicity from it. The only reason we know about it is because, after initially declining a low bid, the McElwain's took another look at the situation, decided to help this family and their foundation by taking a loss on a property which they weren't even actively trying to sell, and then - when people started ridiculing Coach Mac for taking a loss on the house without knowing the details - the father felt compelled to say something to explain the circumstances.

In reality, Coach Mac will have contributed much more to this particular charity - in the long run - than had he sold the property for market value and then given $400k-$600k to charity. And he did so without the extra tax benefits of donating directly to a charity.

I really don't understand why you guys are pettily trying to vilify anyone involved.
Speaking only for myself, I'm not "trying to vilify" ANYONE. If memory serves, I think I said, "This IS a nice story, and I think it IS a nice gesture by Coach Mac! don't get me wrong! He did a nice thing!" Or words to that effect....

And FWIW, I've been a Fan of Coach Mac since the day he first set foot in Tuscaloosa back in 2007/8 - and I was actually pulling for him to do well at UF. I'm not "Hating" on Mac or anyone else.

And I'm not telling ANYONE they have to agree with me.

ALL I'm saying is, I'm not ready to declare anyone (particularly a multi-millionaire) a "Saint" simply because he took a loss on the sale of a Mansion to another Multi-millionaire. ALL I'm saying is, Jim and his wife DID do a nice thing,
But:
(A) its not like he donated his Mansion (or even donated the $400,000) to the Salvation Army, or even to the Staab's family charity. He gave a very rich family a break on the price a Mansion - PERIOD.
and
(B) lets not mistake this very generous gift for an actual sacrifice on Jim's part. This is HARDLY a case of a poor widow putting her last two mites in the church poor-box. Jim was dragging in over FOUR AND A HALF MILLION a year at UF when you consider the total value of his compensation from the school and all other sources. (Chances are he's still making much of his base salary even this year). It's not like his kids are doing without necessities because Coach Mac did this. MAYBE the Trust funds he sets up for his Grandchildren Might be 1-2% less than they might have been otherwise, MAYBE...

So I DO VERY MUCH give Jim McElwain and his wife CREDIT for doing a nice thing. But I'm not ready to call him the next "Mother Teresa" over a nice, but (if we are being honest about it) relatively meaningless gesture.

Again, flame away - I know some will.
 

B1GTide

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Apr 13, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Speaking only for myself, I do not believe that acts of charity require that the person receiving said charity be in need financially. In this case the family clearly was not in need financially, but they were (and still are) just as clearly in need. This family is suffering in ways that I cannot imagine.

If they are not in need, I am not sure who on this planet might be.
 

CoolBreeze

Hall of Fame
Sep 18, 2002
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Hoover
Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

So I guess Coach Mac is renting in Ann Arbor?
 

GrayTide

Hall of Fame
Nov 15, 2005
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Unless the realtor kicked in a portion of their $$$ to off-set CJM's losses, this is wrong.

ETA - assuming you were using 6% calculation, the realtor's $$$ would have dropped from 108K to 84K, so you could fairly say that the realtor assumed $24k of the total losses.
Assumes house was listed and sold for $1.8 million x 6% = $108,000 which would come out of the sales price or Mac's pocket.

Probably a good idea to find a rental house in Ann Arbor.
 

B1GTide

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Apr 13, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Assumes house was listed and sold for $1.8 million x 6% = $108,000 which would come out of the sales price or Mac's pocket.
My point is that he loses money to the realtor no matter what. Not really sure what you are talking about. It's not as if he had a choice not to pay the realtor if he got his full asking price. He was paying the realtor either way.
 

DzynKingRTR

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Dec 17, 2003
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

If someone wants to be nice to me and let me have a 1.8 million dollar house for much cheaper I would take it. My offer is $40. I am not disabled, just lazy.
 

GrayTide

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Nov 15, 2005
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

My point is that he loses money to the realtor no matter what. Not really sure what you are talking about. It's not as if he had a choice not to pay the realtor if he got his full asking price. He was paying the realtor either way.
I was under the impression that Mac's house was not listed. I could have read that wrong.
 

RTR91

Super Moderator
Nov 23, 2007
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

I was under the impression that Mac's house was not listed. I could have read that wrong.
I think I understand what you’re saying, but we don’t know for a fact he didn’t have a realtor. While the house was yet on the market, he still could have had an agent ready to sell it.


Sent from my iPhone using Tapatalk
 

B1GTide

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Apr 13, 2012
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

I think I understand what you’re saying, but we don’t know for a fact he didn’t have a realtor. While the house was yet on the market, he still could have had an agent ready to sell it.
And even if he didn't currently have a realtor, he would have eventually if he used one here. The decision to use a realtor (or not) was his as the seller, and he clearly wasn't keeping the house in Gainesville.
 

GrayTide

Hall of Fame
Nov 15, 2005
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Re: Jim McElwain takes loss on selling his Gainesville home (for a good reason)

Reading another article embedded in Dan Wolken's article; the writer indicated that he contacted McIlwain's realtor. So I stand corrected that he did not have a realtor. Damn, finally made a mistake.
 

SkullDuckery

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Dec 28, 2015
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Gee - what a hardship! "Settling" for a $700,000 house! Oh the horrors!!! Why, they might even have to do without a second sauna, or (GASP!) they might even have to cut back on the domestic staff!!!!!

I sure hope no one posting here has to live in such a miserable "shanty"!!!!! :rolleyes:

Look, I hate to sound ugly - and God Bless anyone with the courage to raise special needs kids. And I'm not Coach Mac's judge - I have never given $400,000 to anyone. This IS a nice story, and I think it IS a nice gesture by Coach Mac! don't get me wrong! He did a nice thing!

But - lets be "Real" for a minute - Anyone who can plunk down 1.4 MILLION bucks on a MANSION (and lets be honest, a 1.8 million dollar structure, even in Gainesville, FL, is NOT merely a "house") is not exactly a "Charity Case" in ANY SENSE OF THE WORD.

If Coach Mac wanted to do something REALLY good for the Gainesville community, he could have sold his Mansion for $1.8 MM - then given $400,000 to local charities that help poor and middle-income families with special needs kids.

I can GUARANTEE you there are families in Gainesville (and every other place in America) who have kids with special needs, handicaps, disabilities, terminal illnesses, etc - who are NOT able to drop a MILLION DOLLARS on a Mansion. Bet we could find multiple families within a 20 minute drive of the UF (or of any SEC) campus raising one or more disabled kids in a trailer park, or a "section 8" apartment.

Flame away.
How do you know he does not support low income families? From this gesture I’m sure he is a generous person.
 

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