Bloodbath in Coto de Caza

NEW -> Contingent Buyer Assistance Program
[quote author="NewToOC" date=1242718932]Does anybody know if the Coto HOA has issued a directive to their security staff to make it easier for home shoppers to look around?</blockquote>


Isn't Jenna on the HOA board?
 
[quote author="NewToOC" date=1242718932]So, the husband and I have been underwhelmed with the security provided by the Coto gate in the past. On any random weekend we could drive up to the gate with a printed MLS listing and gotten right through. So we planned to do this a couple weekends back when my brother and SIL were in town to show them Coto. They are fans of the Real Housewives show (its their trash tv of choice). Anywho...



This time the guard not only lets the four of us in but provides a handy map of all of Coto with all the open houses in Coto that weekend highlighted. The open houses included one on Shire (which is the street Vicki of the show lives in). He knew we weren't realtors. And it was after all the Saturday open houses had closed - around 5:15pm.



Does anybody know if the Coto HOA has issued a directive to their security staff to make it easier for home shoppers to look around?</blockquote>
Security is doing as instructed. It is not a matter of making it easier. It is just policy to let potential buyers look. My experience is that the security personnel are friendly and helpful.







Vicki lives next door to the open house last weekend. You can see her pool area from the backyard and vineyards.







Jeana lives a few houses down the street from the open house. To read a bit of dirt on the Keoughs, go to <a href="http://www.cotohousingblog.com/">Coto Housing Blog</a> and read the post titled, "NOD means Notice of Default."
 
[quote author="awgee" date=1242724354][quote author="NewToOC" date=1242718932]So, the husband and I have been underwhelmed with the security provided by the Coto gate in the past. On any random weekend we could drive up to the gate with a printed MLS listing and gotten right through. So we planned to do this a couple weekends back when my brother and SIL were in town to show them Coto. They are fans of the Real Housewives show (its their trash tv of choice). Anywho...



This time the guard not only lets the four of us in but provides a handy map of all of Coto with all the open houses in Coto that weekend highlighted. The open houses included one on Shire (which is the street Vicki of the show lives in). He knew we weren't realtors. And it was after all the Saturday open houses had closed - around 5:15pm.



Does anybody know if the Coto HOA has issued a directive to their security staff to make it easier for home shoppers to look around?</blockquote>
Security is doing as instructed. It is not a matter of making it easier. It is just policy to let potential buyers look. My experience is that the security personnel are friendly and helpful.







Vicki lives next door to the open house last weekend. You can see her pool area from the backyard and vineyards.







Jeana lives a few houses down the street from the open house. To read a bit of dirt on the Keoughs, go to <a href="http://www.cotohousingblog.com/">Coto Housing Blog</a> and read the post titled, "NOD means Notice of Default."</blockquote>




We've been looking in Coto for a while, and they've always been real good about letting people in to look for homes, not just the past year... a few years back you just had to tell them which realtor you were working with but they changed the policy and you just say "We're here to look at homes"... as you mentioned, they'll give you the list of open houses (which is typically incomplete) and some ads.



Both of Vicki's neighbors have their home on the market (hmm... what does that tell you ;)). Vicki had hers on last year as well... asking way too much. Her back yard was nice, but the home I thought was pretty mediocre given her asking price ($3.7mil)... I hate to tell her, but her neighbor's home at $2.7mil is a MUCH nicer house... the lot location isn't the best from a privacy standpoint, but they did some nice things. If the neighbor's home is $2.7mil (which it appears to be having a hard time selling at), Vicki's home is probably in the low 2's. When we stopped by to see her <a href="http://www.redfin.com/CA/Coto-De-Caza/9-Shire-92679/home/5054746">neighbor's house</a>, you could hear Vicki and her daughter in a shouting match... and they were INSIDE the house. Ya, I think we'll pass on having her as a neighbor... even if her husband seems like a good guy. Haven't seen the <a href="http://www.redfin.com/CA/Coto-De-Caza/5-Shire-92679/home/5054737">home above her</a>... its priced a bit steep.



As mentioned, Jeana's home is on that street as well, diagonal from 9 Shire. It got a NOD, as mentioned. The amount isn't that much... not sure if they have other loans (Jeana mentioned in one of the early shows they owned like 4 homes), or like many couples going through a divorce are having hard times paying bills while things settle out. I met Jeana a few years back at an open house, and she seemed like a good person, so I wish her the best.



Delroy
 
<strong>HEY!</strong>









Go read <a href="http://www.cotohousingblog.com/">my blog</a> and leave a comment.







I am getting lonely.
 
[quote author="awgee" date=1243062251]<strong>HEY!</strong>









Go read <a href="http://www.cotohousingblog.com/">my blog</a> and leave a comment.







I am getting lonely.</blockquote>


Done!
 
[quote author="awgee" date=1243062251]<strong>HEY!</strong>









Go read <a href="http://www.cotohousingblog.com/">my blog</a> and leave a comment.







I am getting lonely.</blockquote>


If IHO reads this thread, then he should pay you a visit after the garage comment I made about him. You might have a new neighbor after this.
 
[quote author="graphrix" date=1243086824][quote author="awgee" date=1243062251]<strong>HEY!</strong>









Go read <a href="http://www.cotohousingblog.com/">my blog</a> and leave a comment.







I am getting lonely.</blockquote>


If IHO reads this thread, then he should pay you a visit after the garage comment I made about him. You might have a new neighbor after this.</blockquote>


I really want IHO to sign up by the name I AM PANDA.
 
[quote author="Sunshine" date=1243087499]I really want IHO to sign up by the name I AM PANDA.</blockquote>


LOL, watch... he will do it now.
 
[quote author="awgee" date=1243110555]Thanks friends. That was like coming down the stairs on Christmas morning and seeing the presents under the tree.</blockquote>
Man... you are almost as blog-prolific as IR... I revisit to see if you ever posted pictures of the 8-car man-cave and every time there's another blog entry.



If Coto wasn't so far from where we centralize... I would be tempted to buy there.
 
[quote author="irvine_home_owner" date=1243381875][quote author="awgee" date=1243110555]Thanks friends. That was like coming down the stairs on Christmas morning and seeing the presents under the tree.</blockquote>
Man... you are almost as blog-prolific as IR... I revisit to see if you ever posted pictures of the 8-car man-cave and every time there's another blog entry.



If Coto wasn't so far from where we centralize... I would be tempted to buy there.</blockquote>
To access the pics of the 8 car Man-Cave, you can now click on the address and it will take you to the Redfin listing which now has the photos. And maybe I can go back and edit with a photo.
 
Look what just came back on the market, with a fresh coat of paint and a higher price tag.



<A HREF="http://www.redfin.com/CA/Coto-De-Caza/1-Sawgrass-92679/home/5054715">Its 1 Sawgrass!</A>



Delroy
 
[quote author="C Delroy Spuckler" date=1243495558]Look what just came back on the market, with a fresh coat of paint and a higher price tag.



<A HREF="http://www.redfin.com/CA/Coto-De-Caza/1-Sawgrass-92679/home/5054715">Its 1 Sawgrass!</A>



Delroy</blockquote>
With mortgage rates popping, this baby is gonna be sitting and collecting dust for a long while...unless of course they lower the price down to 2003 levels then it would sell quickly. My bet is that they will chase the market down...for sh!ts and giggles I'll look up the debt load on this sucker and post it up when I get home later on.
 
[quote author="usctrojanman29" date=1243496689][quote author="C Delroy Spuckler" date=1243495558]Look what just came back on the market, with a fresh coat of paint and a higher price tag.



<A HREF="http://www.redfin.com/CA/Coto-De-Caza/1-Sawgrass-92679/home/5054715">Its 1 Sawgrass!</A>



Delroy</blockquote>
With mortgage rates popping, this baby is gonna be sitting and collecting dust for a long while...unless of course they lower the price down to 2003 levels then it would sell quickly. My bet is that they will chase the market down...for sh!ts and giggles I'll look up the debt load on this sucker and post it up when I get home later on.</blockquote>


The pictures don't show it, but I'd be curious to see if they came up with some creative way to get rid of that 100 year flood plain drainage ditch square in the middle of their back yard. Sorry, even if you remodel the house some... a $2.3mil home with a big hole in the middle of your back yard is a no no.



Delroy
 
[quote author="usctrojanman29" date=1243496689][quote author="C Delroy Spuckler" date=1243495558]Look what just came back on the market, with a fresh coat of paint and a higher price tag.



<A HREF="http://www.redfin.com/CA/Coto-De-Caza/1-Sawgrass-92679/home/5054715">Its 1 Sawgrass!</A>



Delroy</blockquote>
With mortgage rates popping, this baby is gonna be sitting and collecting dust for a long while...unless of course they lower the price down to 2003 levels then it would sell quickly. My bet is that they will chase the market down...for sh!ts and giggles I'll look up the debt load on this sucker and post it up when I get home later on.</blockquote>


Prior Transfer

Recording Date: 07/28/2008 Sales Price: <strong>$1,975,000</strong>

Document #: 2008000359361 Type of Sale: Full-Computed from Transfer Tax

Contract Date: 06/30/2008

Document Type: Grant Deed

Multi APN Flag:

Buyer Names: HOMEDEBTOR, HEIDI Buyer Vesting Married Woman as her sole and separate property

Care of Name:

Mailing Address:1 SAWGRASS, COTO DE CAZA, CA 92679-4906

Seller Name:A SMART FELLOW, AMIRA

Mortgage Doc #: 2008000359362 Loan Amount: <strong>$1,481,250</strong>

Lender Name: DOWNEY SAVINGS & LOAN ASSOCIATION FA Interest Rate: 6.37%

Loan Type: Unknown 2nd Loan Amt: N/A

Type Financing: ARM

Fixed Step: Rate starts as FIX

Adjustable Rate Index: 6 Month Libor Change Index: 2.75%

Rate Change Frequency: Six months or Semi-annually First Change Date: 08/01/2013

Int Rate not <: 4.37% Int Rate not >: 11.37%

Maximum Interest Rate: 12.37% Interest Only Period: Yes

Prepayment Penalty Rider: No Prepayment Penalty Term:

Legal Description:

Lot: 21 Tract No: 13332 Map Ref: MP655 PG1-28

City/Muni/Twp: UNINCORPORATED
 
[quote author="C Delroy Spuckler" date=1243509422][quote author="usctrojanman29" date=1243496689][quote author="C Delroy Spuckler" date=1243495558]Look what just came back on the market, with a fresh coat of paint and a higher price tag.



<A HREF="http://www.redfin.com/CA/Coto-De-Caza/1-Sawgrass-92679/home/5054715">Its 1 Sawgrass!</A>



Delroy</blockquote>
With mortgage rates popping, this baby is gonna be sitting and collecting dust for a long while...unless of course they lower the price down to 2003 levels then it would sell quickly. My bet is that they will chase the market down...for sh!ts and giggles I'll look up the debt load on this sucker and post it up when I get home later on.</blockquote>


The pictures don't show it, but I'd be curious to see if they came up with some creative way to get rid of that 100 year flood plain drainage ditch square in the middle of their back yard. Sorry, even if you remodel the house some... a $2.3mil home with a big hole in the middle of your back yard is a no no.



Delroy</blockquote>
The property is owned by a married woman as her sole and separate property. She purchased the home on 7/28/08 for $1,975,000 with a first mortgage of $1,481,250 from Downey Savings (maybe an Option Arm loan?). Knowing that little drainage issue would reduce the price down below 2001 price or $1.1M in my eyes.



Edit - looks like IR beat me to the punch.
 
What happened to no names on IHB? I edited it. The snark is restricted, but names are allowed... not good. Clean it up, or the snark should be allowed to be unleashed too. :-P
 
[quote author="graphrix" date=1243520820]What happened to no names on IHB? I edited it. The snark is restricted, but names are allowed... not good. Clean it up, or the snark should be allowed to be unleashed too. :-P</blockquote>


Darn, I was really hoping that Homedebtor was Heidi's last name.
 
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