2453 Riverside Dr. New Floral Park Foreclosure

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tmare_IHB

tmare_IHB

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This house is a few houses from my in-laws. Pretty interesting because of the recent news. Owners were very into vintage pottery, extremely expensive items were sold a year ago at an "estate sale" (most believed that the owner had legal issues and needed to liquidate). About 6 months ago the house was raided by the police twice, the last time one of the owners was taken away in handcuffs, best guess is big time drug sales. The owner's friends remained in the house and caused a lot of trouble in the neighborhood (many break-ins and thefts occurred and all seemed to be attributed to these people, with several people seeing these neighbors in the vicinity of the robbed homes at the time of the robberies). The house has been virtually destroyed yet all of the signs of major outdoor renovations are intact. It wouldn't be that interesting except that this house is the one of the best houses in the absolute worst condition in a beautiful neighborhood. Within the past two weeks a REMAX sign went up, although a call to the Realtor a week ago has been left unanswered. I would seriously be ready to do battle for this house if I didn't have kids (translation: no time and no money). This is a beautiful two story Spanish style house with a huge lot. My father-in laws best guess is that the house is 3500-4000 square feet. Is there anyone out there that can find out more about the current status of this house? I know BK and no_vas would probably be interested in what happens or what has happened to this place. I'm very curious about the real story. I truly wish I could buy this house and I am fascinated by the recent events there.
 
I am curious, but just for voyeuristic reasons. The location is lovely, but that home is way too big for me and the Mrs. I?m looking for something single story and <1500 sf.
 
Check it out, we're calling a realtor friend to see if we can get in. As it stands, you can go into the backyard and take a peek into the house.
 
Looks like it was taken back by the bank back in June for $1,067,088. It's a 3bd 4ba 3584 sqft. house. Not sure about the loans, but the tax base is low, so it looks like the housing ATM drug money laundering scheme was involved. Maybe Deuce can step in to give us loan info, and see if anyone here has a chance depending on how desperate the lender is. *cough*BofA*cough*
 
I forgot to mention 2332 Riverside is scheduled for the auction on 2/18 with a NTS of $715k (option ARM), but they filed BK, so it will most likely be postponed.



Here is what 92706 looks like from our friends over at ForeclosureRadar. I did cut it off a bit to focus on Floral Park.



http://i39.tinypic.com/qovjg0.jpg
 
here is the redfin:

<a href="http://www.redfin.com/CA/Santa-Ana/2453-N-Riverside-Dr-92706/home/3048400">http://www.redfin.com/CA/Santa-Ana/2453-N-Riverside-Dr-92706/home/3048400</a>



is that a creek at the backfence? looks like it might be an acre lot.
 
This house has good bone but the exterior surgery was botched. The previous owner did a horrible job with the front yard. The front door flanked by 2 cascading fountain is extremely ostentatious and ruined the beauty of Catalina tile application. The tiles if done correctly would be stunning but the tiles in the hands of amateur weekend warrior were badly applied in both aesthetic and construction.



Ceramic tiles must be recessed into the plaster and the glazed surface must be flushed with the plaster surface and not glued to the face of the plaster where the raw unpainted edges of the tile are all exposed. The glazed urns with water spilling off the top are antique but used in a atrocious way.



Money just can?t buy good taste. Even using good materials the owners could screw up this project big time. New owner should tear up the entire front yard and redo the whole thing. This house?s front yard and its previous occupants are a disgrace to Floral Park.
 
It is a travesty what has happened to this beautiful house. I'm really surprised that the pots in the front are still there. Those huge palms are worth a lot of money, but shouldn't be there, it will take cranes to get them out. I'm surprised that the bank took it back almost 8 months ago. During those 8 months a group of what could essentially be called "squatters" (not even the former owners) lived there, destroyed it and stole a lifetime's worth of jewelry from one elderly couple we know well in the neighborhood. It's unbelievable to me that the bank could be so backlogged that they don't even care about the tens of thousands of dollars being lost to vandalism and neglect. Also, my guess judging from the map and using my in-laws lot on the map as a comparison is that the lot size is about 20,000 square feet.
 
[quote author="tmare" date=1234227179]It's unbelievable to me that the bank could be so backlogged that they don't even care about the tens of thousands of dollars being lost to vandalism and neglect.</blockquote>


Um... they are losing billions every month. No offense, but tens of thousands is what they lost in the time it took me to type this, they are unfortunately not concerned with someone getting robbed of their jewelry or the neglect of a home they do not want. I don't think you really understand their backlog, and how they have no understanding of the difference between 92701 and 92706, let alone that there is a nice neighborhood in 92706, which according to their models is tanking just like the rest of Santa Ana when they are based out of Jacksonville Florida. It's the 90s all over again.
 
Obviously it's billions, if this is being allowed to happen. Last year I counted foreclosures in a small area in mid Santa Ana on my way home from work. There was an average of 3 per street over about a 12 block stretch. All of which probably sold for about 500K in 2006/2007. That's about 18 mil. in a few blocks of run down houses. I realized then that the problem was huge, it's just a bit eye opening to see it now in the high end neighborhoods, I guess now the banks are just losing more on one house rather than smaller amounts on 3 little crapholes. If you are brave enough to drive through those areas, the foreclosures are all but gone, I just don't know who bought them all or if they are now rentals.
 
Are there any pictures of what it looks like right now?



I really love Floral Park, but I think this is just one more instance of the STRIKING difference between SA and Irvine. Squatters raiding the neighboring homes? I just don't see how that would be tolerated in Irvine. I totally understand how it would play out in SA.
 
[quote author="NoWowway" date=1234228775]Are there any pictures of what it looks like right now?



I really love Floral Park, but I think this is just one more instance of the STRIKING difference between SA and Irvine. Squatters raiding the neighboring homes? I just don't see how that would be tolerated in Irvine. I totally understand how it would play out in SA.</blockquote>


I called them squatters, actually they lived there with the owner, when he was taken away they stayed. I agree, the neighbors called the police a few times but it certainly took a lot longer to get them out then it would have in Irvine.
 
Very few posters know about upscale pockets of 92706 and 92705 except for Graph, Tmare, NoVas, IR, and Eva and a few regulars. Both of these zip codes encompasses transient neighborhoods south of 17th St. Due to the bad neighborhoods dragging down the overall impression of the 2 zip codes most perceive the entire segment being bad. Hidden gems with good and safe neighborhoods such as Floral Park, Park Santiago, Cowan and Lemon heights, and North Tustin are some of the well kept secrets known only by the locals.



Attributes are big rear and front yards, Absence of garages and wide driveways from the streets for most of the properties but situated at the rear or to the side of the properties.
 
[quote author="graphrix" date=1234187676]I forgot to mention 2332 Riverside is scheduled for the auction on 2/18 with a NTS of $715k (option ARM), but they filed BK, so it will most likely be postponed.



Here is what 92706 looks like from our friends over at ForeclosureRadar. I did cut it off a bit to focus on Floral Park.



http://i39.tinypic.com/qovjg0.jpg</blockquote>
Graph,



I forgot what the symbols represent. I did use the "search" button for one of Socal's previous posts. The pocket adjacent to South East quadrant of 22/5 fwy interchange is Shea's Reserve.
 
Bkshpr,



I hear you. Though those great exclusive neighborhoods don't seem all that great when you can't get water to them during fire season or the police don't show up consistently when called. If you can buy the home NEXT to the mayor, you're probably gold.
 
[quote author="bkshopr" date=1234229720]Graph,



I forgot what the symbols represent. I did use the "search" button for one of Socal's previous posts.</blockquote>
[P]reforeclosure

[A]uction

ank owned.



More info here:

<a href="http://www.foreclosureradar.com/ca_foreclosure_process.php">http://www.foreclosureradar.com/ca_foreclosure_process.php</a>



So is this house near BK? I'll buy it so I can build a 3-car wide garage in the front... hehe.
 
Stolen from Deuce:



<strong><span style="color: red;">Red point</span></strong> = Bank-Owned property. a.k.a. REO.



<strong><span style="color: green;">Green point</span></strong> = Pre-foreclosure. Notice of Default (NOD) has been filed.



<strong><span style="color: blue;">Blue point</span></strong> = Auction property. Notice of Trustee's (NOT) Sale has been posted.</blockquote>




Edit: Oops, sorry, IHO.
 
[quote author="NoWowway" date=1234231916]Bkshpr,



I hear you. Though those great exclusive neighborhoods don't seem all that great when you can't get water to them during fire season or the police don't show up consistently when called. If you can buy the home NEXT to the mayor, you're probably gold.</blockquote>




These neighborhoods actually are nothing like this, no water problem (not high in the hills) and the police are much quicker to respond than in other parts of the city (of course, the mayor lives in Floral Park!)
 
[quote author="NoWowway" date=1234231916]Bkshpr,



I hear you. Though those great exclusive neighborhoods don't seem all that great when you can't get water to them during fire season or the police don't show up consistently when called. If you can buy the home NEXT to the mayor, you're probably gold.</blockquote>


The Mayor and numerous politicians live in Floral Park. A phone call from Floral Park gets immediate attention. There is a fire station less than 300 yards from the neighborhood. More attorneys and surgeons lived in the neighborhood of 648 homes resulted in having the highest density than anywhere else of OC including Newport and CDM.



Have you heard of the story an older lady judge was robbed in Floral Park and the robbers were caught 21 minutes later in Long Beach? The thief was handed a longest possible sentence by her colleague.



Criminals and gang bangers know the area and they do not mess around there knowing the sentence is much harsher when crime is committed there than other part of OC.



The only down side is public school.
 
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