Losses Outside of Irvine

NEW -> Contingent Buyer Assistance Program
<p>graph-</p>

<p>75% of all my clients are looking for cashout. They need cash for their business which is slowing, or they need to payoff the credit cards, or worse, they need it to help them make the mortgage payments. I've talked to several in the last week that recently took the house off the market. They didn't realize that that would prevent them for taking any cash out of the property for the next 6 months.</p>
 
Coto is coming down. Remember our friend who's woman was featured on the "real housewives of OC" I forget his name, but there are a lot of pretenders in Coto de Caza. People sucked out cash there to, they did it everywhere. Why take out a business loan when you can borrower against your house at a cheaper rate and get a tax deduction?
 
<p>LM - you mean Slade? It was reported in a different thread that his Coto house is in the foreclosure process (14 Meadow Wood). Guess he wasn't that RICH after all. </p>

<p>There are lots of houses in Coto that I'm tracking that will be losing money. And I can only find data on the basics - what they purchased it for and what they sold it for. I don't have the means to track if they sucked any equity out of their house. And I'm sure there are A LOT of people in this category. </p>

<p> </p>
 
28712 JAEGER DRIVE, Laguna Niguel, CA 92677

Asking: 950,000

Last Sale: 06/21/06

Sales Price: $1,175,000

Bedrooms: 5

Full Baths: 3

Partial Baths: 0

Square Feet: 3,281

Lot Size: 11,200 Sq. Ft.

Year Built: 1980

Listing Date: 09/18/07

On Market: 2 days

Type: SFR

Status: ACTIVE

MLS #: S505922
 
Another 100,000 plus drop

34 BRYCE CANYON, Aliso Viejo, CA 92656

List Price: $394,900

Last Sale: 09/29/06

Sales Price: $520,000

Bedrooms: 2

Full Baths: 2

Partial Baths: 0

Square Feet: 924

Lot Size: N/A

Year Built: 1999

Listing Date: 09/17/07

On Market: 3 days

Type: SFR

Status: ACTIVE

MLS #: S505727
 
100,000+

26731 RABIDA CIRCLE, Mission Viejo, CA 92691

Last Sale: 04/21/06

Sales Price: $690,000

List Price: $599,000

Bedrooms: 3

Full Baths: 2

Partial Baths: 0

Square Feet: 1,746

Lot Size: 6,432 Sq. Ft.

Year Built: 1971

Listing Date: 09/19/07

On Market: 2 days

Type: SFR

Status: ACTIVE

MLS #: S506133
 
I found this by accident:







Price: $469,000











03/23/2006

$635,000



16.9%/yr







07/14/2005

$570,000



22.0%/yr







07/26/2002

$316,000



11.4%/yr











<a style="text-decoration: none;" href="http://www.redfin.com/stingray/do/buy-how-it-works?listing-id=961993"> Redfin Savings: $9,380</a>

12745 DORAL

Tustin, CA 92782









Beds:

2





Baths:

2.5





Sq. Ft.:

1,436





$/Sq. Ft.:

$327





Lot Size:

1,500 sq. ft.





Type:

Condominium





Style:

Contemporary





Year Built:

1992





Stories:

Two Levels





Area:

Tustin Ranch





County:

Orange





MLS#:

P588745





Status:

Active





On Redfin:

71 days







CONDO HAS BEEN UPGRADED WITH TILE THROUGHTOUT THE 1ST FLOOR. SPACIOUS BEDROOMS EACH WITH ITS OWN BATHROOM. FIREPLACE IN THE LIVING ROOM. INDOOR LAUNDRY ROOM. GATED COMMUNITY LOCATED IN THE EXCLUSIVE AREA OF TUSTIN RANCH. A MUST SEE!!! CONDO DOES NEED SOME PAINT. GREAT BUY




$166,000 off, Wow!
 
And yet the asking price reflects >8% appreciation every year since the '02 sale. Cheap in comparison to the rest of today's market, but not yet a bargain from a historical perspective.
 
Has anyone seen the sale offered by <a href="http://www.sheahomes.com/">Shea Homes</a>? There are some developments in Riverside and San Bernardino counties that have new homes at almost a 30% discount. Unfortunately the ones in Orange County are only slightly discounted.
 
<p>I did a $147k Talega loss recently at my blog (<a href="http://www.southoctracker.com">www.southoctracker.com</a>). These types of things are getting more and more common.</p>

<p>Here's the direct link to the post: http://www.southoctracker.com/2007/09/turning-back-clock-in-talega.html</p>
 
<p>This is very interesting.</p>

<p>Chino Hills - From what I can tell these two homes are EXACTLY the same down to the sqft. The only difference is they are inverted floorplans. In the same Tract. The other difference is one with the upgrades including the bathrooms. Geez I like the duel sinks they have in the lower priced model. </p>

<p>So 349K gets you the nicer place with the duel sinks I like <a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1132672">http://www.redfin.com/stingray/do/printable-listing?listing-id=1132672</a></p>

<p>Or you can buy this one that didn't spend the money on upgrades for 558k <a href="http://redfin.com/stingray/do/printable-listing?listing-id=1129275">http://redfin.com/stingray/do/printable-listing?listing-id=1129275</a></p>

<p>Both went on the market less then 2 weeks ago. The 349k one is clearly nicer inside and out. Bet the neighbors are hating him.</p>

<p> </p>
 
I didn't see the extra lot size well then I change my mind that is worth another 210k. I can always spend another 50k to upgrade the more expensive one inside to look as nice as the cheaper one but I can't add the extra 600 sqft to the lot.
 
It is listed by PAX which is an auction company. Which means that is the minimum bid price. There was one in Terra Bella in Irvine mentioned here that didn't go so well.
 
<p>lm-</p>

<p>Yes I was. sar chasm is the distance between a person being sarcastic and the person not knowing they are being sarcastic.</p>

<p> </p>
 
<p>graph, </p>

<p>Were people overbidding or just not meeting the opening bid? </p>

<p>If this sold at the opening bid then it would still be a pretty good deal.</p>
 
<p>D.R. Horton basically gave up on a whole community: 53 homes on the auction block near S.D.</p>

<p><a href="http://www.cnbc.com/id/20995195">www.cnbc.com/id/20995195</a></p>
 
You must log in or register to reply here.
Back
Top