Ladera Ranch Discussion Thread
- Thread starter vicstah_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
EvaLSeraphim_IHB
New member
Interesting. He has two properties in his own name in Ladera.
And ho-lee cow, Connexian itself owns four properties in Ladera, three of which have adjoining APN numbers, and another is nearby. The loan amount appears to be larger than the sale amount of the lot(?). I wonder if someone was thinking they could combine the lots and build a real mansion. Or he got one loan to purchase the four lots together. All were bought in April '06.
Talk about having all your eggs in one basket.
And ho-lee cow, Connexian itself owns four properties in Ladera, three of which have adjoining APN numbers, and another is nearby. The loan amount appears to be larger than the sale amount of the lot(?). I wonder if someone was thinking they could combine the lots and build a real mansion. Or he got one loan to purchase the four lots together. All were bought in April '06.
Talk about having all your eggs in one basket.
graphrix_IHB
New member
Great... thanks to you two with actual googlefu degrees, I am searching for more info too. Connexian Development Inc. is another choice find as a contractor, and there is another name that is attached to the company, a name that sounds familiar in a way that makes you remember.
graphrix_IHB
New member
It only gets worse, when you have the graph googlefu working for you. So, it seems there are a few people who want less pens and dens, a few mechanics are leaning on them, and even the IRS has leaned on them too. Jeezus, they have some superior court civil cases going on. I knew this name sounded familiar, as it is "old" money for OC, or in other words they inherited daddy's shady business. It also looks like a Hilton is involved, and I am not talking about Paris here, but a Ladera related Hilton.
Even without doing further research, I think this could open a giant Pandora's box on the true shadiness of Ladera. A box larger than I can handle. This really digs deep into those of OC, and go way, way back.
What a mess... I am so glad I discovered this.
<em>Note to self, do not, I mean ever, pose and do a testimonial for a fortune 500 company. Can't, won't, never ever do it.</em>
BTW, the graph googlefu is available for hire, although it does come at a price.
Even without doing further research, I think this could open a giant Pandora's box on the true shadiness of Ladera. A box larger than I can handle. This really digs deep into those of OC, and go way, way back.
What a mess... I am so glad I discovered this.
<em>Note to self, do not, I mean ever, pose and do a testimonial for a fortune 500 company. Can't, won't, never ever do it.</em>
BTW, the graph googlefu is available for hire, although it does come at a price.
laderarenter_IHB
New member
Connexian is owned by John (or at least he is the managing member/president) - He's also involved in another LLC with land in Monterrey, CA. (Attorneys have better public records searches than what's available on the secretary of state's website)
THis is very typical of the real estate broker/developer types who live in Ladera, who regardless of whether any projects made any money as of today, were able to live of refinances on existing homes they bought. Its all crashing down on them.
in the 3500sq foot range of homes, something like 100 homes in Ladera that are listed (not counting 15 or so REO's not yet marketed), and current sales pace is down to 4-5 homes a month - about a 2 years supply.
On my street of 10 homes alone, four homes were bought by investors, and two are in foreclosure. These are all 4000sq foot homes, all purchased in 2005.
What's interesting is that the home being lost by the one investor was an option-arm, and for which the owner had a tenant in there paying $5000 a month - what happened was that the ARM reset and could no longer afford the true interest cost of $9000 a month. I don't think the current tenant knows their is a NOD on the house. That same investor has also lost four other homes in Ladera Ranch.
However, the record belongs to my landlord, as she bought two homes on my street (1.2m each in 2005), and then two others in covenant Hills $1.4m each - all new homes. She also owns eight other homes in North OC, and each one of them - all 12, are Option-Arm.
12 Option-Arm loans by one couple - unbelievable. They also were getting 5-6% cash back at closing from the builders, which they used as either the deposit (which were no more than 10%) She tries to rent them at the minimum option-arm payment plus taxes, but even, has high vacancy rates. How she hasn't lost one is amazing. At this point, she can't refinance them or sell any of them, because the loans now exceed the values, but she is very determined to hold on to them.
I don't usually have a lot of praise for realtors, but at least they believed the garbage they spoke about - they all really thought the market would continue to go up at 15-to 20% forever and ever.
THis is very typical of the real estate broker/developer types who live in Ladera, who regardless of whether any projects made any money as of today, were able to live of refinances on existing homes they bought. Its all crashing down on them.
in the 3500sq foot range of homes, something like 100 homes in Ladera that are listed (not counting 15 or so REO's not yet marketed), and current sales pace is down to 4-5 homes a month - about a 2 years supply.
On my street of 10 homes alone, four homes were bought by investors, and two are in foreclosure. These are all 4000sq foot homes, all purchased in 2005.
What's interesting is that the home being lost by the one investor was an option-arm, and for which the owner had a tenant in there paying $5000 a month - what happened was that the ARM reset and could no longer afford the true interest cost of $9000 a month. I don't think the current tenant knows their is a NOD on the house. That same investor has also lost four other homes in Ladera Ranch.
However, the record belongs to my landlord, as she bought two homes on my street (1.2m each in 2005), and then two others in covenant Hills $1.4m each - all new homes. She also owns eight other homes in North OC, and each one of them - all 12, are Option-Arm.
12 Option-Arm loans by one couple - unbelievable. They also were getting 5-6% cash back at closing from the builders, which they used as either the deposit (which were no more than 10%) She tries to rent them at the minimum option-arm payment plus taxes, but even, has high vacancy rates. How she hasn't lost one is amazing. At this point, she can't refinance them or sell any of them, because the loans now exceed the values, but she is very determined to hold on to them.
I don't usually have a lot of praise for realtors, but at least they believed the garbage they spoke about - they all really thought the market would continue to go up at 15-to 20% forever and ever.
EvaLSeraphim_IHB
New member
[quote author="graphrix" date=1209055045]<em>Note to self, do not, I mean ever, pose and do a testimonial for a fortune 500 company. Can't, won't, never ever do it.</em></blockquote>
Yeah, just wait until the collections attorneys get a hold of that.
Yeah, just wait until the collections attorneys get a hold of that.
ladera1_IHB
New member
I moved OUT of Ladera 1 year and 3 months ago. Moved to Dove Canyon to be in a gated community (since Coventant was way to far out of our price reach - back then).
Our house in ladera has dropped in value from $699 selling price to $579 asking price of the same model now.
Our house in Dove we bought for $899 and the same model just sold for $897 ($929asking).
Financially, we made a good choice. And also for safety Dove is great. But Ladera has a better sense of community that I think no other city offers.
Matter of fact, we hated Dove when we first moved here, but now it is actually very very nice.
Food for thought.
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**
Our house in ladera has dropped in value from $699 selling price to $579 asking price of the same model now.
Our house in Dove we bought for $899 and the same model just sold for $897 ($929asking).
Financially, we made a good choice. And also for safety Dove is great. But Ladera has a better sense of community that I think no other city offers.
Matter of fact, we hated Dove when we first moved here, but now it is actually very very nice.
Food for thought.
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**
graphrix_IHB
New member
[quote author="ladera1" date=1209089814]Food for thought.
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**</blockquote>
So... were you the one that served him with the foreclosure notice then?
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**</blockquote>
So... were you the one that served him with the foreclosure notice then?
bltserv_IHB
New member
[quote author="k.o." date=1209003212]I've heard that the weather is noticeably warmer in LR during summer than most of Irvine. Anyone who has lived out there have opinions on this?</blockquote>
Its called MO.
Its mo hotter in the summer.
Its mo windy with the Santa Ana`s
Its mo cold in the winter.
And it does rain more because of the upslope effect in the spring.
Irvine is fare more tame weather wise.
Its called MO.
Its mo hotter in the summer.
Its mo windy with the Santa Ana`s
Its mo cold in the winter.
And it does rain more because of the upslope effect in the spring.
Irvine is fare more tame weather wise.
k.o._IHB
New member
[quote author="bltserv" date=1209095481][quote author="k.o." date=1209003212]I've heard that the weather is noticeably warmer in LR during summer than most of Irvine. Anyone who has lived out there have opinions on this?</blockquote>
Its called MO.
Its mo hotter in the summer.
Its mo windy with the Santa Ana`s
Its mo cold in the winter.
And it does rain more because of the upslope effect in the spring.
Irvine is fare more tame weather wise.</blockquote>
Hahahaha, thanks blt!
Seems like it would definitely be a change...
Its called MO.
Its mo hotter in the summer.
Its mo windy with the Santa Ana`s
Its mo cold in the winter.
And it does rain more because of the upslope effect in the spring.
Irvine is fare more tame weather wise.</blockquote>
Hahahaha, thanks blt!
Seems like it would definitely be a change...
vicstah_IHB
New member
[quote author="graphrix" date=1209092023][quote author="ladera1" date=1209089814]Food for thought.
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**</blockquote>
So... were you the one that served him with the foreclosure notice then?</blockquote>
LOL
That's so wrong....
**BY the way, Warren G does live in Ladera with his family. I have been to his house for business**</blockquote>
So... were you the one that served him with the foreclosure notice then?</blockquote>
LOL
That's so wrong....
IrvineRealtor_IHB
New member
[quote author="yahoo" date=1210830608]Anyone know of a website which shows the floorplans for most of the homes in Covenant Hills? I know some realtors in other areas we are looking at do this for the area they specialize in, but I haven't come across anything for Covenant.</blockquote>
Yahoo - According to the "Inside Tract" floorplans service, the Covenant Hills area is custom homes, and gives no further information than "varies" in the comments section. Check with graphrix.
Yahoo - According to the "Inside Tract" floorplans service, the Covenant Hills area is custom homes, and gives no further information than "varies" in the comments section. Check with graphrix.
Joe33_IHB
New member
[quote author="yahoo" date=1210830608]Anyone know of a website which shows the floorplans for most of the homes in Covenant Hills? I know some realtors in other areas we are looking at do this for the area they specialize in, but I haven't come across anything for Covenant.</blockquote>
Covenant Hills has custom homes....actually at this point mostly vacant lots that have been sold to custom builders and are now sitting empty. I would say that well over half of Covenant Hills was high end tract homes done by the typical OC builders - KHov, Pardee, Warmington, StanPac, etc.
This site can still get you floorplans for the tracts that are still in production:http://www.laderaranch.com/My-Ladera-Homes/index.php
As for the projects that are already finished, I don't know.
Covenant Hills has custom homes....actually at this point mostly vacant lots that have been sold to custom builders and are now sitting empty. I would say that well over half of Covenant Hills was high end tract homes done by the typical OC builders - KHov, Pardee, Warmington, StanPac, etc.
This site can still get you floorplans for the tracts that are still in production:http://www.laderaranch.com/My-Ladera-Homes/index.php
As for the projects that are already finished, I don't know.
25w100k+_IHB
New member
Things are getting a lot cheaper and a bit more tempting in Ladera these days. Seeing lots of nice stuff in the $260 sq.ft range. The thing thats stopping me is the rent. I'm pretty confident you can rent a 2/2 in Irvine for +2300 a month if its nice enough with a garage. Don't think rent is anywhere close to that in ladera. What do you guys think?
LAtoSFtoOC_IHB
New member
i'm tempted by the deals in ladera, too. is it better to buy a <em>really </em>good in ladera or buy into a fair deal in turtle rock??
freedomCM_IHB
New member
How much do you value your time at? personally, you couldn't get me to commute an extra 1.5 hours a day, but for some people it is worth it.