CalGal_IHB
New member
<blockquote>It?s ba-a-a-a-a-a-ck.
23302 Via Pardal </blockquote>
. . . . and STILL sitting!
Ha!
23302 Via Pardal </blockquote>
. . . . and STILL sitting!
Ha!
Bloodbath in Coto de Caza
- Thread starter muffdaddy_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
usctrojanman29_IHB
New member
[quote author="CalGal" date=1239217225]<blockquote>It?s ba-a-a-a-a-a-ck.
23302 Via Pardal </blockquote>
. . . . and STILL sitting!
Ha!</blockquote>
I don't know about that...look at the sales history. Looks like it may be a flip job.
23302 Via Pardal </blockquote>
. . . . and STILL sitting!
Ha!</blockquote>
I don't know about that...look at the sales history. Looks like it may be a flip job.
awgee_IHB
New member
Of the 159 listings in Redfin for homes for sale in Coto de Caza 49, or (31%), previously sold in 2004 or later. I have no idea if this is normal or if this means anything. The breakdown is as follows: 2 sold in 2009, (back to bank), 6 in 2008, 7 in 2007, 8 in 2006, 10 in 2005, and 16 in 2004. It occurs to me that five year option ARMs are resetting and recasting right about now on homes sold in 2004.
awgee_IHB
New member
50 properties have been listed for sale within the last 30 days in Coto.
I do not have access to how many homes sold in that same time frame. I only have access to which listings closed, which are not all sales. In fact, less than half of the closed listings turn out to be sales.
But, I can tell that about 9 homes sold in Coto in February. Of the 9 homes that sold, 7 sold for under $1,000,000, and the most expensive home to sell went for $1,375,000. February sales are the most recent I can come up with because it takes awhile for the listing on Redfin to change from "closed" to "sold".
Anyways, it appears that unlike Irvine, many more homes are being listed for sale in Coto than are selling. If anyone can come up more accurate numbers, please do. And, if the last few months are any indication, the over $2,000,000 market has disappeared or "dropped off a cliff." And, IIRC, the most expensive home in Coto that sold in January went for $1,300,000.
I do not have access to how many homes sold in that same time frame. I only have access to which listings closed, which are not all sales. In fact, less than half of the closed listings turn out to be sales.
But, I can tell that about 9 homes sold in Coto in February. Of the 9 homes that sold, 7 sold for under $1,000,000, and the most expensive home to sell went for $1,375,000. February sales are the most recent I can come up with because it takes awhile for the listing on Redfin to change from "closed" to "sold".
Anyways, it appears that unlike Irvine, many more homes are being listed for sale in Coto than are selling. If anyone can come up more accurate numbers, please do. And, if the last few months are any indication, the over $2,000,000 market has disappeared or "dropped off a cliff." And, IIRC, the most expensive home in Coto that sold in January went for $1,300,000.
Geotpf_IHB
New member
[quote author="awgee" date=1238705430]Maybe the equity owners are learning a few tricks from the banks.
If the distressed property is the market, what can a non-distressed home owner do?
Emulate a distressed property and get some bids?
Redfin does not show <a href="http://www.redfin.com/CA/Coto-De-Caza/16-Via-Terracaleta-92679/home/5054777">16 Via Terracaleta</a> as a short sale, but the price reduction is just the sort of behavior shown by the bank REO properties in order to get bids and find out what the "worth" may be.
Check out the price history at the bottom of the Redfin listing.
-31% in one day? I doubt it.
And this property has been listed off and on since October of 2007. Talk about chasing the market down. Maybe they have gotten smart and are getting their price under the market?</blockquote>
Ignore short sales. They are fake. They could be priced at one dollar or one billion dollars-doesn't matter. They almost always result in no sale, followed by a bank foreclosure. Now, it might take a year or more between the short sale being listed and the bank actually foreclosing, but that is the usual result eventually.
Now, as a non-distressed home owner, you have two choices:
1. Sell now at REO prices
2. Wait until the market recovers until you can get the price you want (in one year, five years, never, who knows?)
Those are your only choices. Now, if you, say, got another job and are moving out of state, and can't afford to own two houses, you are not a non-distressed home owner. You have to sell, unless you think you can rent it out (although you probably won't break even in this market, factoring in the mortgage payment, HOA dues, taxes, and maintenance). But what if you owe more on the house than it's worth? Unless you can eat the loss-that's a failed short sale in the making, followed by foreclosure.
If the distressed property is the market, what can a non-distressed home owner do?
Emulate a distressed property and get some bids?
Redfin does not show <a href="http://www.redfin.com/CA/Coto-De-Caza/16-Via-Terracaleta-92679/home/5054777">16 Via Terracaleta</a> as a short sale, but the price reduction is just the sort of behavior shown by the bank REO properties in order to get bids and find out what the "worth" may be.
Check out the price history at the bottom of the Redfin listing.
-31% in one day? I doubt it.
And this property has been listed off and on since October of 2007. Talk about chasing the market down. Maybe they have gotten smart and are getting their price under the market?</blockquote>
Ignore short sales. They are fake. They could be priced at one dollar or one billion dollars-doesn't matter. They almost always result in no sale, followed by a bank foreclosure. Now, it might take a year or more between the short sale being listed and the bank actually foreclosing, but that is the usual result eventually.
Now, as a non-distressed home owner, you have two choices:
1. Sell now at REO prices
2. Wait until the market recovers until you can get the price you want (in one year, five years, never, who knows?)
Those are your only choices. Now, if you, say, got another job and are moving out of state, and can't afford to own two houses, you are not a non-distressed home owner. You have to sell, unless you think you can rent it out (although you probably won't break even in this market, factoring in the mortgage payment, HOA dues, taxes, and maintenance). But what if you owe more on the house than it's worth? Unless you can eat the loss-that's a failed short sale in the making, followed by foreclosure.
awgee_IHB
New member
[quote author="awgee" date=1218575751]caliguy - Any idea what is happening with 32006 Via Coyote? I thought it was scheduled for auction today and it dissappeared off of FIS/LPS.</blockquote>
Update: <a href="http://www.redfin.com/CA/Coto-De-Caza/32006-Via-Coyote-92679/home/5056097">32006 Via Coyote</a> sold on 12-12-08 for $960,000. That is less than the 2003 selling price of $1,023,000 and my guess is that it was a short sale.
Update: <a href="http://www.redfin.com/CA/Coto-De-Caza/32006-Via-Coyote-92679/home/5056097">32006 Via Coyote</a> sold on 12-12-08 for $960,000. That is less than the 2003 selling price of $1,023,000 and my guess is that it was a short sale.
QH Renter_IHB
New member
Zulu's post sounds like inside information.
awgee_IHB
New member
[quote author="awgee" date=1238725790][quote author="awgee" date=1232235380][quote author="awgee" date=1231194638]Sometime within the last two weeks, there was a real price drop of $24,000 to $1,025,000.
And now, another drop of $25,100 to $999,900 which takes it under $300 per sq ft.
Did I mention that this property is also for lease at $4,600 per month?
26 Sawgrass</blockquote>
Maybe relist it?
<a href="http://www.redfin.com/CA/Coto-De-Caza/26-Sawgrass-92679/home/5019816">26 Sawgrass</a></blockquote>
Off Redfin after at least 28 price changes and 8 relistings. Will it come back again soon? Or did they get it leased?</blockquote>
OMG. It is scary how some of them just <a href="http://www.redfin.com/CA/Coto-De-Caza/26-Sawgrass-92679/home/5019816">keep coming back.</a>
And now, another drop of $25,100 to $999,900 which takes it under $300 per sq ft.
Did I mention that this property is also for lease at $4,600 per month?
26 Sawgrass</blockquote>
Maybe relist it?
<a href="http://www.redfin.com/CA/Coto-De-Caza/26-Sawgrass-92679/home/5019816">26 Sawgrass</a></blockquote>
Off Redfin after at least 28 price changes and 8 relistings. Will it come back again soon? Or did they get it leased?</blockquote>
OMG. It is scary how some of them just <a href="http://www.redfin.com/CA/Coto-De-Caza/26-Sawgrass-92679/home/5019816">keep coming back.</a>
awgee_IHB
New member
There is a thread where a few of us were discussing the definition of a "knife catcher".
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!
Geotpf_IHB
New member
[quote author="awgee" date=1239666973]There is a thread where a few of us were discussing the definition of a "knife catcher".
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!</blockquote>
Yup yup. But look at the sales prior to the last one. Somebody more than doubled their money in five years (and, of course, they probably didn't pay cash, so assuming they put 20% down, it's more like they made ten times what they invested).
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!</blockquote>
Yup yup. But look at the sales prior to the last one. Somebody more than doubled their money in five years (and, of course, they probably didn't pay cash, so assuming they put 20% down, it's more like they made ten times what they invested).
awgee_IHB
New member
[quote author="Geotpf" date=1239668336][quote author="awgee" date=1239666973]There is a thread where a few of us were discussing the definition of a "knife catcher".
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!</blockquote>
Yup yup. But look at the sales prior to the last one. Somebody more than doubled their money in five years (and, of course, they probably didn't pay cash, so assuming they put 20% down, it's more like they made ten times what they invested).</blockquote>
Yup Yup
No argument from me.
Check out the sales history for <a href="http://www.redfin.com/CA/Coto-De-Caza/6-Brentwood-92679/home/5059311">6 Brentwood</a>.
I can not help but wonder if their realtor was saying, "It's a buyer's market.", "Prices will not go lower.", etc.
And were they thinking, "If we don't buy now, we will never be able to buy again" or "Prices will be rise again soon because prices always rise in Southern California in the long term"? Redfin is not calling it a short sale. Ouch!</blockquote>
Yup yup. But look at the sales prior to the last one. Somebody more than doubled their money in five years (and, of course, they probably didn't pay cash, so assuming they put 20% down, it's more like they made ten times what they invested).</blockquote>
Yup Yup
No argument from me.
awgee_IHB
New member
[quote author="awgee" date=1238109431]<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a> has been on the market for 478 days according to Redfin. Maybe the bank needs to accept one of the lower offers.
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?
usctrojanman29_IHB
New member
[quote author="awgee" date=1239916250][quote author="awgee" date=1238109431]<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a> has been on the market for 478 days according to Redfin. Maybe the bank needs to accept one of the lower offers.
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?</blockquote>
I'm sure Graph will be there. You can use the following website to track the results and see what's coming up.
http://www.fidelityasap.com/
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?</blockquote>
I'm sure Graph will be there. You can use the following website to track the results and see what's coming up.
http://www.fidelityasap.com/
trrenter_IHB
New member
[quote author="awgee" date=1239916250][quote author="awgee" date=1238109431]<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a> has been on the market for 478 days according to Redfin. Maybe the bank needs to accept one of the lower offers.
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?</blockquote>
Is it a coinky dink that the Acronym for American Team Mortgage is "ATM"?
There is a business called "American Team Mortgage" which shows 8 Weber Lane, 92679 as a business address. Isn't that curious? According to the American Team Mortgage website, they have a Loss Modification and Loan Mitigation department. Maybe they can help out the owner of
<a href="http://www.redfin.com/CA/Coto-De-Caza/8-Weber-Ln-92679/home/5823277">8 Weber Lane</a>.
Friday
4/17/2009 12:00:00 PM Address: 8 WEBER LANE
City: COTO DE CAZA
State: CA
Zip: 926790000
County: Orange
APN: 755-264-37
Sale Status: Postponed to 04/17/2009
(Beneficiary's Request)
TS Number: GM162949C
ASAP Number: 2946047
Notice of Sale Amt: $1,175,562.62
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.
Trustee: Executive Trustee Services, Inc.
Trustee Phone#: (818)260-1600</blockquote>
Will anybody be at the auctions tomorrow?</blockquote>
Is it a coinky dink that the Acronym for American Team Mortgage is "ATM"?
Zulu_IHB
New member
A construction fence has gone up at the 2-acre lot at 23181 Pradera Road. The lot was graded back in November, and rumor has it that construction will start on a 7000sf home in the next 2-3 weeks.
If I am not mistaken, this will be the first new home to be built in the Los Ranchos Estates in the past couple of years.
If I am not mistaken, this will be the first new home to be built in the Los Ranchos Estates in the past couple of years.
awgee_IHB
New member
[quote author="Zulu" date=1239924513]A construction fence has gone up at the 2-acre lot at 23181 Pradera Road. The lot was graded back in November, and rumor has it that construction will start on a 7000sf home in the next 2-3 weeks.
If I am not mistaken, this will be the first new home to be built in the Los Ranchos Estates in the past couple of years.</blockquote>
Were you referring to the new construction on Pradera when you wrote this?
[quote author="Zulu" date=1239434654]At least one or more high dollar sales are going to be happening in Coto within the next 3 months. When I say high dollar, I mean VERY HIGH dollar.</blockquote>
Or some other sale? Do you have knowledge of a VERY HIGH dollar sale or are you speculating?
If I am not mistaken, this will be the first new home to be built in the Los Ranchos Estates in the past couple of years.</blockquote>
Were you referring to the new construction on Pradera when you wrote this?
[quote author="Zulu" date=1239434654]At least one or more high dollar sales are going to be happening in Coto within the next 3 months. When I say high dollar, I mean VERY HIGH dollar.</blockquote>
Or some other sale? Do you have knowledge of a VERY HIGH dollar sale or are you speculating?