Huntington Beach Foreclosure

NEW -> Contingent Buyer Assistance Program
Found an interesting blog about a family that got screwed on an REO sale in Huntington Beach by Chase bank.



The story's still unfolding on the blog but it's pretty interesting so far...



You can access the blog <a href="http://www.unethicalchase.com">here</a>.
 
[quote author="freedomCM" date=1233989294]it is interesting. i subscribed. do you know the author?</blockquote>


Yes, it's a good friend of mine. I'm running the blog for him since he doesn't have much experience with that kind of thing. Great guy. It's shitty what Chase did to him and his family.
 
[quote author="graphrix" date=1233594869][quote author="Maltese" date=1233584463]http://huntingtonhomes.freedomblogging.com/2009/01/25/5-bedroom-surf-city-house-prompts-bidding-war/15872/



To revive a dead thread... the crazy offer-fest for this place got picked up last week by the Register. According to this article, we were one of the top 10 offers, although we still have yet to hear anything back from the realtor (no courtesy call to say, sorry we took another offer).



Graphix, I am still waiting for your knowledge on NODs in this tract.</blockquote>


Ugh... I have been a slacker as a whole when it comes to foreclosures and even IHB. Sorry about that. When you say tract, do you mean the homes south of Hamilton, or just south of Adams? South of Hamilton there are very few, south of Adams and it gets pretty big. BTW, my info won't be NODs, but NTSs or homes that are scheduled for the auction. NODs come and go, and are not always a good indicator as NTSs are.</blockquote>


I used to walk through that neighborhood and look before I moved out of HB back to the EastSide.



At peak those babies were asking $1.4 to $1.9M. The last successful sale was <a href="http://www.redfin.com/CA/Huntington-Beach/22361-Wallingford-Ln-92646/home/3781051">22361 Wallingford</a> I think I posted about that hood where some couldn't get the price they wanted so they were going to rent out the 3/3 place for $3000 or $3500...



At $850K, it's probably 50% off the last foolish asking prices that were up in that neighborhood just after the market at turned. For example, 22291 Wallingford was bought for $1M in 2004 and as I recall was up for sale with no takers for a long time at $1.4M. 22372 Harwich sold in mid 2006 for $1.8M... I think it was 22382 Harwich that was the place for rent. It's a 3/2.5 (3/3) last sold for $1.2M in 2005.



Anybody want to handicap them for over/under date if the NODs file?
 
Is anyone familiar with the Seabridge Community. A friend of mine just moved into a rental there and I love the area. I am a first time buyer so I wanted to know what you guys think of the community and where you think prices are heading. There are a couple of short sales/foreclosures. Also, I'm planning on buying towards the end of the year but I do not mind waiting.
 
[quote author="Future Buyer" date=1236850722]Is anyone familiar with the Seabridge Community. A friend of mine just moved into a rental there and I love the area. I am a first time buyer so I wanted to know what you guys think of the community and where you think prices are heading. There are a couple of short sales/foreclosures. Also, I'm planning on buying towards the end of the year but I do not mind waiting.</blockquote>
Yeah, I grew up near that area and I'm helping one of my good friends look for a place either in Seabridge or Seacliff. I think that pricing may come down a bit more. The surrounding area is mature yet very safe and you cant beat living so close to the beach.
 
Where is seacliff located. Do you happen to know the zip code so I can research some properties on Redfin. I just started looking into HB so If anyone has any other recommendations let me know.
 
[quote author="Future Buyer" date=1236852797]Where is seacliff located. Do you happen to know the zip code so I can research some properties on Redfin. I just started looking into HB so If anyone has any other recommendations let me know.</blockquote>
Best zip codes are 92646 and 92648. 92649 tends to be more inland and has more of the "not as nice" parts. You want to stay East of Beach Blvd. unless you are South Main/Ellis. I'm a realtor and can send you some listings and sale comps to peek at if you want. Seacliff is located North of Main St. off PCH in a gated golf course community.
 
[quote author="usctrojanman29" date=1236853861][quote author="Future Buyer" date=1236852797]Where is seacliff located. Do you happen to know the zip code so I can research some properties on Redfin. I just started looking into HB so If anyone has any other recommendations let me know.</blockquote>
Best zip codes are 92646 and 92648. 92649 tends to be more inland and has more of the "not as nice" parts. You want to stay East of Beach Blvd. unless you are South Main/Ellis. I'm a realtor and can send you some listings and sale comps to peek at if you want. Seacliff is located North of Main St. off PCH in a gated golf course community.</blockquote>


Um... 92649 is not that inland, in fact it includes the harbor. <a href="http://www.redfin.com/CA/Huntington-Beach/17001-Bolero-Ln-92649/home/3871261">Like this place</a>. Looks pretty close to the water to me...



http://i-0.rfimg.us/photo/46/bigphoto/603/L27603_2.jpg
 
If you need any info about Seabridge feel free to p.m. me. It is a great community, although the HOAs have gotten pretty hefty. But at least the HOA buys you 4 pools, 4 tennis courts, raquet ball, dog park, and a guard gate. If you are into those things then the premium may make sense for you. The good news is that prices have been on a crazy downhill spiral, and for the 2 bedroom condos (someone is either above or below you) the prices are back to 2003. Asking prices are all over the place, but recent solds have been 325K-375K. 2002 pricing will be around 275K, and I have a feeling that we will be getting close to that. You can land a one bed unit right now in the 300K range, although rental parity will be down closer to 250K. In 2002 a 1 bed was 220ish. The best units in Seabridge are the townhomes, which have 2 car garages and nobody above or below. The are larger units, 1450 or 1550 sq feet, with 2 beds + or - a den. There is a short sale pending on one without a den for 425K, which would be back to late 2002 pricing. On the other hand, there is a wishing price on a fixer 2 bed with den for 675K, which is peak pricing. The same unit rents for 2300 bucks. Finally, Seabridge Villas (formerly apartments and converted in 2004) is in front of Seabridge Lakes (the original seabridge). The Villas are crashing and burning, as they should. The first phase in 2004 saw 2 bed units going for 300K, and they are pretty much back to that point. They were overpriced at 300K back then, and I have no doubt that they will drop into the 2s.
 
[quote author="Future Buyer" date=1236852797]Where is seacliff located. Do you happen to know the zip code so I can research some properties on Redfin. I just started looking into HB so If anyone has any other recommendations let me know.</blockquote>




you want to check 92466, ocean-side of Adams street, 92648 o-s of maybe yorktown, and 92649 closer to the sea



basically, anything within a mile of the sea is very nice.



92648 is mostly pre-1950s, and infill construction, while 46 and 49 are mostly 60s/70s with a few new communities scattered around
 
[quote author="graphrix" date=1236854533][quote author="usctrojanman29" date=1236853861][quote author="Future Buyer" date=1236852797]Where is seacliff located. Do you happen to know the zip code so I can research some properties on Redfin. I just started looking into HB so If anyone has any other recommendations let me know.</blockquote>
Best zip codes are 92646 and 92648. 92649 tends to be more inland and has more of the "not as nice" parts. You want to stay East of Beach Blvd. unless you are South Main/Ellis. I'm a realtor and can send you some listings and sale comps to peek at if you want. Seacliff is located North of Main St. off PCH in a gated golf course community.</blockquote>


Um... 92649 is not that inland, in fact it includes the harbor. <a href="http://www.redfin.com/CA/Huntington-Beach/17001-Bolero-Ln-92649/home/3871261">Like this place</a>. Looks pretty close to the water to me...



http://i-0.rfimg.us/photo/46/bigphoto/603/L27603_2.jpg</blockquote>
That's why I said TENDS...it does include Huntington Harbour.
 
Thanks for the info guys. It would be awesome if I could pick up a 2bed condo in the 200's. I'll check both zip codes and definitely keep my eye on them. I've been on this site for the last two years and barely starting posting. I'm trying to stay under my budget of 320k since these places have hoa's which I don't mind paying especially if it keeps the community nice. I currently live in santa ana and cant wait to get out. I guess waiting is the hardest part.
 
http://www.redfin.com/CA/Huntington-Beach/8042-Goleta-Point-Dr-92646/unit-37/home/5886880



While we are chatting about HB, can anyone give their thoughts on this house? It is in a small gated community (Beachwalk) at the corner of Beach and Atlanta, and it is scheduled for auction in 2 weeks. 3 beds, 3 baths, and a loft area on the 3rd story. There are some decent upgrades in this home. It is listed as a short-sale. Anyone knowledge about this community, pros and cons, would be greatly appreciated.



Thanks,



Maltese
 
I live a couple blocks from Goleta, and have a co-worker who lives in there. He says the noise from the traffic on Beach is pretty bad, especially the harleys.



He also has said that there are a lot of distressed 'owners' in there, so reos are coming
 
Does anyone have any advice on how to get the best loan. I've been talking to a realtor and she suggested that I talk to a loan officer, who also happens to be her brother in law. I'm sure they charge for their services, my question is, is it worth the cost or is it something that I can do on my own. Any websites that may be helpful?
 
Mortgage brokers don't charge you... they make their money if you do your loan through them. Agents typically have a favorit loan person they recommend, but your loan is totally up to you. Nation's Choice Mortgage seems to have some pretty competitive rates and we've found B of A's loans to be the most competitve twice already. A lot of people on here are fans of their credit unions.
 
You must log in or register to reply here.
Back
Top