Bloodbath in Coto de Caza

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[quote author="awgee" date=1251863701][quote author="IrvineRealtor" date=1251863194][quote author="awgee" date=1251860067][quote author="skyblue2" date=1251859081]When I clicked on 12 Shire, Redfin said it was off the market? Does anyone know if it's sold or in escrow?</blockquote>


I do not think it sold or is in escrow.

According to Foreclosure Radar, the Notice of Default from the first mortgage holder is still current.

The NOD from the CZ homeowners association had dissappeared a few weeks ago.

Maybe they are in the middle of hiring a different realtor.

Try back on Sept. 9th.</blockquote>


Status = cancelled.</blockquote>
There were 2 NODs. Have both been cancelled?

If so, it will be interesting to see if we can figure out some of the terms of the loan, ie. interest rate, hard money.</blockquote>


I think he meant that the listing was canned, not the NODs. They still show as active.
 
[quote author="C Delroy Spuckler" date=1251870749][quote author="IrvineRealtor" date=1251863194]

Status = cancelled.</blockquote>


How about 24086 Fairway, 92679 and 35 secret garden, 92620?</blockquote>


NOD is active, and the NTS is active, respectively.
 
I didn't check the Coto blog, but did I beat that nutter? <a href="http://www.zillow.com/homedetails/6-Downfield-Way-Coto-De-Caza-CA-92679/25604337_zpid/">6 Downfield Way went down to the bank today for $1.06mil.</a>
 
[quote author="graphrix" date=1252030273]I didn't check the Coto blog, but did I beat that nutter? <a href="http://www.zillow.com/homedetails/6-Downfield-Way-Coto-De-Caza-CA-92679/25604337_zpid/">6 Downfield Way went down to the bank today for $1.06mil.</a></blockquote>


You beat him. Not only that. He has been lazy lately and does not a photo of 6 Downfield, even though he has meant to drive by and click. It will have to be tomorrow's post. Darn you.
 
Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?





Sale Date Property Detail Sale Detail

Thursday

9/10/2009 12:00:00 PM Address: <strong>6 VELA COURT</strong>



City: COTO DE CAZA

State: CA

Zip: 92679

County: Orange

APN: 755-091-18

Sale Status: Sale Date 09/10/2009

TS Number: 235144CA

ASAP Number: 3216483

Notice of Sale Amt: $953,505.15

Opening Bid Amt: $953,857.34

Sold Amt: 0

Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA 92701



Trustee: California Reconveyance Company

Trustee Phone#: (800)892-6902



Thursday

9/10/2009 12:00:00 PM Address: <strong>1 VICTORIA LN</strong>



City: COTO DE CAZA

State: CA

Zip: 92679

County: Orange

APN: 755-201-01

Sale Status: Sale Date 09/10/2009

TS Number: CA09282710CL

ASAP Number: 3206150

Notice of Sale Amt: $1,108,331.72

Opening Bid Amt: $1,119,539.80

Sold Amt: 0

Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA 92701



Trustee: Quality Loan Service Corporation

Trustee Phone#: (619)685-4800
 
[quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.
 
[quote author="graphrix" date=1252640491][quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.</blockquote>


Happen to know a rough estimate of how many were postponed at the Placentia auction? less than half of those scheduled? more than half?
 
[quote author="25inIrvine" date=1252642967][quote author="graphrix" date=1252640491][quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.</blockquote>


Happen to know a rough estimate of how many were postponed at the Placentia auction? less than half of those scheduled? more than half?</blockquote>


More than half. There were a lot scheduled for today. The mid-week "state" holiday threw everyone off.
 
[quote author="25inIrvine" date=1252642967][quote author="graphrix" date=1252640491][quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.</blockquote>


Happen to know a rough estimate of how many were postponed at the Placentia auction? less than half of those scheduled? more than half?</blockquote>


I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...
 
[quote author="graphrix" date=1252643150][quote author="25inIrvine" date=1252642967][quote author="graphrix" date=1252640491][quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.</blockquote>


Happen to know a rough estimate of how many were postponed at the Placentia auction? less than half of those scheduled? more than half?</blockquote>


More than half. There were a lot scheduled for today. The mid-week "state" holiday threw everyone off.</blockquote>


1 Victoria - Back to Beneficiary
 
[quote author="awgee" date=1252643188]I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


1 Victoria went back to the bank today for $1,119,539.80. There is one for you. More to come...
 
[quote author="awgee" date=1252643188][quote author="25inIrvine" date=1252642967][quote author="graphrix" date=1252640491][quote author="awgee" date=1252638437]Graphrix - Are you at the courthouse. It is 1:00 and LPS does not have an update on 6 Vela Court and 1 Victoria Lane. Whas' up?</blockquote>


I went to the Placentia auction, and if it is any indicator of how crazy things are today, then it will be a long while before we get updates. The Placentia auction hasn't updated all the homes yet either, and they started at 10AM.</blockquote>


Happen to know a rough estimate of how many were postponed at the Placentia auction? less than half of those scheduled? more than half?</blockquote>


I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


We can call it.....

<strong>Pent up supply</strong>



There should be enough to meet the pent up demand maybe.
 
[quote author="graphrix" date=1252643466][quote author="awgee" date=1252643188]I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


1 Victoria went back to the bank today for $1,119,539.80. There is one for you. More to come...</blockquote>


6 Vela Court back to the bank for $953,857.34
 
[quote author="awgee" date=1252649104][quote author="graphrix" date=1252643466][quote author="awgee" date=1252643188]I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


1 Victoria went back to the bank today for $1,119,539.80. There is one for you. More to come...</blockquote>


6 Vela Court back to the bank for $953,857.34</blockquote>
Yup, both babies went back to the bank. Most of the interest at the auction were for Anaheim, Garden Grove, and Fullerton properties.
 
[quote author="usctrojanman29" date=1252650220][quote author="awgee" date=1252649104][quote author="graphrix" date=1252643466][quote author="awgee" date=1252643188]I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


1 Victoria went back to the bank today for $1,119,539.80. There is one for you. More to come...</blockquote>


6 Vela Court back to the bank for $953,857.34</blockquote>
Yup, both babies went back to the bank. Most of the interest at the auction were for Anaheim, Garden Grove, and Fullerton properties.</blockquote>
so much for Irvine being the preferred location ;)
 
[quote author="graphrix" date=1252643466][quote author="awgee" date=1252643188]I do not know about the Placentia auction, but I do know that until today, and maybe including today, every auction so far this week for property located in Coto has been postponed. But, it is not "shadow inventory". It is ...</blockquote>


1 Victoria went back to the bank today for $1,119,539.80. There is one for you. More to come...</blockquote>


Check out my comment on <a href="http://www.cotohousingblog.com/?p=4563">cdcrez's blog</a>... that house appears to have quite some history.
 
Can we change the name of this thread to something other than "Bloodbath in Coto de Caza". The bloodbath was last year, when home prices fell through the basement floor within a few months. OK, so a lot of people didn't figure it out then, or now for that matter, but the fact is that prices really fell big time last fall whether people realized it or not, and have since just trickled down a bit. Some asking prices may still be unrealistic, but the fact that some sellers just don't get it doesn't mean it's still a bloodbath anymore. It just means they are clueless. The market is now finding a point where sellers and buyers, and hopefully lenders, can actually come together. Yeah the market may fall a bit more, but bloodbath is a little harsh. This thread started in January 2008. Time to give it a rest.
 
[quote author="Zulu" date=1252673729]Can we change the name of this thread to something other than "Bloodbath in Coto de Caza". The bloodbath was last year, when home prices fell through the basement floor within a few months. OK, so a lot of people didn't figure it out then, or now for that matter, but the fact is that prices really fell big time last fall whether people realized it or not, and have since just trickled down a bit. Some asking prices may still be unrealistic, but the fact that some sellers just don't get it doesn't mean it's still a bloodbath anymore. It just means they are clueless. The market is now finding a point where sellers and buyers, and hopefully lenders, can actually come together. Yeah the market may fall a bit more, but bloodbath is a little harsh. This thread started in January 2008. Time to give it a rest.</blockquote>


It really depends on where you are looking in Coto. The bloodbath may be over in certain tracts, but certain other tracts it hasn't corrected. Check out <a href="http://www.cotohousingblog.com/?p=4445">my post on the current listings over $1.5mil</A>... <a href="http://www.cotohousingblog.com/?p=4173">The Pinnacle</a> is also still having their bloodbath right now... and the NTS on 6 Panorama still exists.



In more general terms, the higher end is basically at <a href="http://www.cotohousingblog.com/?p=3625">a multiyear stalement</a>. It would not be unreasonable to think the prices will come down 30% in the next year to 18 months.



Delroy
 
[quote author="Zulu" date=1252673729]Can we change the name of this thread to something other than "Bloodbath in Coto de Caza". The bloodbath was last year, when home prices fell through the basement floor within a few months. OK, so a lot of people didn't figure it out then, or now for that matter, but the fact is that prices really fell big time last fall whether people realized it or not, and have since just trickled down a bit. Some asking prices may still be unrealistic, but the fact that some sellers just don't get it doesn't mean it's still a bloodbath anymore. It just means they are clueless. The market is now finding a point where sellers and buyers, and hopefully lenders, can actually come together. Yeah the market may fall a bit more, but bloodbath is a little harsh. This thread started in January 2008. Time to give it a rest.</blockquote>


You're kidding, right? The bloodbath in Coto has just begun. Have you not seen the foreclosures there?



http://i25.tinypic.com/ztynes.jpg
 
[quote author="Zulu" date=1252673729]Can we change the name of this thread to something other than "Bloodbath in Coto de Caza". The bloodbath was last year, when home prices fell through the basement floor within a few months. OK, so a lot of people didn't figure it out then, or now for that matter, but the fact is that prices really fell big time last fall whether people realized it or not, and have since just trickled down a bit. Some asking prices may still be unrealistic, but the fact that some sellers just don't get it doesn't mean it's still a bloodbath anymore. It just means they are clueless. The market is now finding a point where sellers and buyers, and hopefully lenders, can actually come together. Yeah the market may fall a bit more, but bloodbath is a little harsh. This thread started in January 2008. Time to give it a rest.</blockquote>
Sorry, but you just plain wrong. Prices in Coto are falling hard. I never liked the title myself. It seemed like an overstatement to me, but you are just plain wrong if you think the bloodbath ended last year in either Coto or Shady Canyon. Huge price declines have just started.
 
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