11 Solstice 92602

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EvaLSeraphim_IHB

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I know there was some amusement because two realtors picked this up at foreclosure to flip it. FWIW, there have been two price reductions to date. <a href="http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=S497016&page=1&property_type=SFR&mls=mls_so_cal&cKey=xbw774pc&source=SOCALMLS">Zip link.</a>
 
Try <a href="http://www.ziprealty.com/buy_a_home/logged_in/search/home_detail.jsp?listing_num=S497016;mls=mls_so_cal;source=SOCALMLS">this</a>?
 
<p>Ok that didn't work either try <a href="http://tinyurl.com/2mcm57">this</a>.</p>

<p>I need to find out more about this Pacific Legacy group since they are VP locals. Starting in May they have bought 29 foreclosures and sold 21 properties. One of their buys was a foreclosure from the fraudpark group. In my opinion they work with a very thin profit margin but they do a lot of volume. Still with the credit crunch they could get in trouble and I think they are still holding the over an acre lot in VP that they must have had insode info on to steal at the price they did. </p>
 
<p>Damn those realitors, why can't they let the normal empire builders get a chance.... Its funny though at the pricing, if they wanted to get rid of it, just price it right. Why do people ALWAYS go for the big sell instead of the quick sell....</p>

<p>-bix</p>
 
<p>graphrix,</p>

<p>I am wondering about the same thing. It looked that they did well in the past few years with profits. Please post your findings.</p>
 
<p>NIR,</p>

<p>Where have you been and why haven't you been posting more often? Seriously I miss you. There has been so much that has been going on and I truly want to hear from someone in the trenches.</p>

<p>I tried to find out some gossip tonight but my gossip source was busy. We know she is the broker but what does her husband do is what I want to know. They own a very very nice home in VP. I bet if I saw her I would know her too. That bugs me the most.</p>
 
<p>graphrix,</p>

<p>Oh, would not think I was missed, ... being a realtor. As you know, the market has been pretty much "dead"; therefore, I was just observing and did not have much to say.</p>

<p>The rental market is hotter than ever, given people are skittish about purchasing. Rental rate is escalating again.</p>

<p>Tight demand for $3M+ move-up market.</p>

<p>As far as Annie, I always can call her and talk turkey.</p>
 
<p>Sorry NIR, I gotta call BS again on the rents. CL is packed with Irvine 2/2's with garages for under $2k. There were very few in the spring (I was shopping them). There are even some 3br condos at the $2k price point, there were zero last spring. I see 3br detached under $2500, too. Again, very few just a few months ago.</p>

<p>The overall volume of rental listings are up, too.</p>
 
<p>NIR - Go for it and call Anne (I wouldn't call her Annie as her name sounds familar) I would love to hear what she says. I will get the dirt and it is just a matter of being the right time. I swear you really need to lay low in VP or everyone knows your biz. Check out the Hamberian family.</p>

<p>You should comment regardless of market conditions. You know you are going to take flack and we both know you can take it.</p>

<p>Anyway it won't let me upload the photo probably because it is copyrighted but <a href="http://www.ochomereview.com/homewp/chart/">ochomereview</a> has Irvine sqft stuck at a $1.85. Plus I know oc_fliptrack will back me up on this that it is only the MLS data which doesn't include the paper and craigslist. </p>
 
Make sure you check out the <a href="http://forums.irvinehousingblog.com/discussion/346/2/foreclosure-and-distressed-property-topics/#Comment_8380">foreclosure estimates</a> for July in my foreclosure thread.
 
<em>I swear you really need to lay low in VP or everyone knows your biz. Check out the Hamberian family.</em>





Their choices with respect to the City of Orange and the ensuing lawsuits certainly made them newsworthy, but perhaps you're referring to something else.
 
That was the newsworthy story. There is more with regards to that family and others here in VP that you can find out about through the right people. That being the problem that this little enclave of OC has quite the gossip. I try to lay low and get info when it is needed. Sometimes I am in the right place at the right time and catch more than I want to know.
 
<p>hey graphrix,</p>

<p>don't know if you remember but I mentioned these guys about a year ago. I met them at a foreclosure auction and tried to purchase a property from them. Pretty interesting folks. Pacific Legacy has been doing this for years. </p>
 
<p>brealiving,</p>

<p>Yes I do remember you asking me about them. It was a couple of homes in YL. Did you ever find out what they sold for? Good to see you are still a reader.</p>

<p>Eval,</p>

<p>Yes Kelly the owner of Waynes is great source of info. Gossip to finding a good air conditioning repairman. I think it is because there is no bar in VP the next best thing is the liquor store to tell your problems to. But you can catch gossip just as easily by having breakfast at Rockwells. Which by the way I highly recommend for breakfast.</p>
 
<p>I was looking at one they purchased for 541k. Sold it for 640k in a few months. I believe there were some back taxes on that property.</p>

<p>I think they have a couple of investors backing them. </p>
 
Down to $799k as of 9/1. Depending on the commission payout they are looking at $30-$40k profit from the $735k price they paid. Funny zillow shows the foreclosure price but not the $950k fraud price.
 
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