Does anyone have the latest Foreclosure map in Quail Hill?

NEW -> Contingent Buyer Assistance Program
From our friends at <a href="http://www.foreclosureradar.com/">Foreclosure Radar</a>:

<img src="http://www.irvinehousingblog.com/images/uploads/2009febearly/QuailHill-20090207.gif" alt="" />
 
[quote author="frank69m" date=1234063056]You p<strong>[strike]l[/strike]</strong>aying 49.95 a month for this service? Kinda a lot isn't it?</blockquote>


No, we are not paying for it. And, you get more than just dots on map. If you want, you can sign up for the trial period to see that you get loan info (whether it is a first or a second lien), loan history (how many loans and how many times they have been default), property tax info (if they are in default too), auction location and date (there are four locations, so you would look pretty silly if you showed up in SA when the home was already auctioned off in Placentia that morning), and estimated values with cap rates and ROI. So if the purdy little dots are not enough info for you, then you gotta sign up.
 
[quote author="graphrix" date=1234067744][quote author="frank69m" date=1234063056]You p<strong>[strike]l[/strike]</strong>aying 49.95 a month for this service? Kinda a lot isn't it?</blockquote>


No, we are not paying for it. And, you get more than just dots on map. If you want, you can sign up for the trial period to see that you get loan info (whether it is a first or a second lien), loan history (how many loans and how many times they have been default), property tax info (if they are in default too), auction location and date (there are four locations, so you would look pretty silly if you showed up in SA when the home was already auctioned off in Placentia that morning), and estimated values with cap rates and ROI. So if the purdy little dots are not enough info for you, then you gotta sign up.</blockquote>


What I didn't like was having to fork out $100 extra to find out which bank owned a REO
 
In the Vicara tract, what's the property on Luminous that is showing as an "A"? The property on Momento must be 51 Momento, which has been at "Auction" for several months and is currently scheduled for auction on 2/17, and the property on Balcony must be 39 Balcony, which according to FidelityASAP's website is currently scheduled for auction on 2/20. But I can't tell which property is up for auction on Luminous...



Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?
 
[quote author="frank69m" date=1234063056]You playing 49.95 a month for this service? Kinda a lot isn't it?</blockquote>
Says the guy who asked for the latest foreclosure map since he can't find the info for free elsewhere...
 
[quote author="GavriloPrincip" date=1234101283]

Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>
I'd be interested in that one if it was a view side lot.
 
[quote author="irvine_home_owner" date=1234193146][quote author="GavriloPrincip" date=1234101283]

Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>
I'd be interested in that one if it was a view side lot.</blockquote>


<a href="http://www.zillow.com/homedetails/105-Bottlebrush-Irvine-CA-92603/61643575_zpid/">105 Bottlebrush</a>, looks like they have a NOD in the mid-$700k range.
 
[quote author="GavriloPrincip" date=1234101283]In the Vicara tract, what's the property on Luminous that is showing as an "A"? The property on Momento must be 51 Momento, which has been at "Auction" for several months and is currently scheduled for auction on 2/17, and the property on Balcony must be 39 Balcony, which according to FidelityASAP's website is currently scheduled for auction on 2/20. But I can't tell which property is up for auction on Luminous...



Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>


508 Luminous is on Fidelity for the auction on 2/11. You just can't search the zip on that site when they include the last 4 digits of the zip. Their programmers suck, and the people inputting the info suck even more.
 
[quote author="graphrix" date=1234203092][quote author="GavriloPrincip" date=1234101283]In the Vicara tract, what's the property on Luminous that is showing as an "A"? The property on Momento must be 51 Momento, which has been at "Auction" for several months and is currently scheduled for auction on 2/17, and the property on Balcony must be 39 Balcony, which according to FidelityASAP's website is currently scheduled for auction on 2/20. But I can't tell which property is up for auction on Luminous...



Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>


508 Luminous is on Fidelity for the auction on 2/11. You just can't search the zip on that site when they include the last 4 digits of the zip. Their programmers suck, and the people inputting the info suck even more.</blockquote>


Yikes. Fidelity shows $1.9m owing on 508 Luminious. That's going to hurt!



Also this looks like bad news for 525 Luminous, currently listed for the Kool-Aid guzzling price of $2.26 million with a new agent since December, after failing to sell Spring/Summer 2008. I'm not sure what plan 508 is, but it must be significantly larger than 525, which is the 3200 square-foot, single level plan (the smallest of the Vicara plans, the rest of which are around 4000 square feet).
 
Vicara's floorplans are <strong><a href="http://floorplans.irvinerealtorsite.com/QuailHill/Vicara/">here</a></strong>.



I believe 508 Luminous is a plan C at 4185 sqft.
 
[quote author="IrvineRealtor" date=1234222325]Vicara's floorplans are <strong><a href="http://floorplans.irvinerealtorsite.com/QuailHill/Vicara/">here</a></strong>.



I believe 508 Luminous is a plan C at 4185 sqft.</blockquote>


Hmmm...so if the bank takes back 508 Luminous at $1.9m at puts it the market again at that price, it's $300k less than 525 Luminous, and only 1,000 square feet larger. Nice.



But 525 Luminous does have a great view. That's got to be worth $300k more, for 1,000 square feet less, right?
 
[quote author="graphrix" date=1234202716][quote author="irvine_home_owner" date=1234193146][quote author="GavriloPrincip" date=1234101283]

Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>
I'd be interested in that one if it was a view side lot.</blockquote>


<a href="http://www.zillow.com/homedetails/105-Bottlebrush-Irvine-CA-92603/61643575_zpid/">105 Bottlebrush</a>, looks like they have a NOD in the mid-$700k range.</blockquote>
Oh snap. Okay... Graph... if this hits public sale at $800k... I'll buy you lunch... heck I'll buy this house (well... not really... I'm still in KoolAid detox).



What would a fundamental price be for this house anyways?



(Man... this looks like the floorplan I like and has a view lot... must. not. be. tempted.)
 
[quote author="irvine_home_owner" date=1234227252][quote author="graphrix" date=1234202716][quote author="irvine_home_owner" date=1234193146][quote author="GavriloPrincip" date=1234101283]

Also, looks like there is now a foreclosure in the Chantilly tract...is it on Bottlebrush?</blockquote>
I'd be interested in that one if it was a view side lot.</blockquote>


<a href="http://www.zillow.com/homedetails/105-Bottlebrush-Irvine-CA-92603/61643575_zpid/">105 Bottlebrush</a>, looks like they have a NOD in the mid-$700k range.</blockquote>
Oh snap. Okay... Graph... if this hits public sale at $800k... I'll buy you lunch... heck I'll buy this house (well... not really... I'm still in KoolAid detox).



What would a fundamental price be for this house anyways?



(Man... this looks like the floorplan I like and has a view lot... must. not. be. tempted.)</blockquote>


Well, you could always just buy 105 Tearose, which looks like the exact same model and view lot as 105 Bottlebrush, only two streets up the hill. It can be yours for a mere Kool-Aid guzzling $1.449 million:



<a href="http:// http://www.robin4homes.com/content/listdetail.html/80091386">http://www.robin4homes.com/content/listdetail.html/80091386</a>



[Hey Graph, can you turn that into a hot link?]



So, if 105 Bottlebrush goes to Trustee's Sale for $800k, and the bank puts it back on the market for that price, any idiot who buys 105 Tearose must be paying an extra $650k for that slightly higher elevation/better view.



Update: Uh oh...just noticed that the property description for 105 Tearose says its a short sale. WTF, a short sale at $1.45 million for a house that sold for $1.22 million in February 2005 (according to Zillow)?
 
So I drove by 105 Bottlebrush... it's not the floorplan I thought based on the information listed on Zillow. According to that, it's a 3140sf with 5br/5.5ba.



But the model is this one (props to IR2):

<a href="http://floorplans.irvinerealtorsite.com/QuailHill/Chantilly/ChantillyC3048.JPG">http://floorplans.irvinerealtorsite.com/QuailHill/Chantilly/ChantillyC3048.JPG</a>

Thats a a 4br/4.5 ba home at 3048sft... unless they figured out some way to turn the downstairs den into another BR and still have access to the front BR.



It's a nice house, the outside landscape is really nice with a fenced in courtyard and the sat images show the backyard as highly upgraded too.



There were MBZs parked in the driveway so I'm wondering what kind of situations the owners are in.



Zillow shows it sold for $983,500 in 2004... but was built in 2001. Does anyone remember how much these went for originally... my whole FCB theory may be blown away because I have my original prices incorrect.
 
[quote author="irvine_home_owner" date=1234233315]...

There were MBZs parked in the driveway so I'm wondering what kind of situations the owners are in.

...</blockquote>


hmmm, where have I been seeing those HELOC abuse stories...
 
can someone please explain how a house that can sell tomorrow at around $900k-1million can have an NOD in the 700 range? wouldn't they just sell it quickly? i live nearby, there is no way this puppy won't sell for that range.
 
How can anyone, including you, be sure of anything selling at a given price "tomorrow"? If I were the bank, the only thing I would be reasonably confident in would be that if I auction it today the odds of covering my $700k first lien are higher than if I wait. Judging by the cars parked there there is quite a bit of second lien debt on it, so the owners are under water, first lien creditor is protecting himself, and the second lien lender is screwed.
 
[quote author="almon" date=1234275012]can someone please explain how a house that can sell tomorrow at around $900k-1million can have an NOD in the 700 range? wouldn't they just sell it quickly? i live nearby, there is no way this puppy won't sell for that range.</blockquote>


There is a $160k second lien, plus back payments/fees, plus the $14k in taxes, and for some reason a $68 tax default. When you add in commissions, selling for $1mil would make it hard to break even. And I wouldn't be so confident that it could sell at that price, especially when they are trying to get their property taxes reassessed from their current tax base of $1mil. Maybe they read IHB?
 
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