What's going into escrow - Irvine and maybe some Tustin too

NEW -> Contingent Buyer Assistance Program
Sorry singlemom, I'm not super techy. If some of our more knowledgeable board brethren have suggestions on how I can save those files to make them more universally accessible, I will endeavor to change it up. I have been saving as web archives, .mht format, and I think Windows machines default to using IE for open those file types.
 
WINEX, thanks for the suggestion but you give me too much credit. My brain at this time is not capable of following multi-step installation instructions. Why do you think I'm bubble-blog surfing instead of studying for my upcoming certification exam?
 
<p>I'm going to be interested to see the final sale price on this Tustin Field townhouse, which appears to have gone into escrow today. </p>

<p><a href="http://www.redfin.com/stingray/do/printable-listing?listing-id=1210130">http://www.redfin.com/stingray/do/printable-listing?listing-id=1210130</a></p>

<p>I was watching this one to see how long it lasted once it hit the $300 sq ft mark. IIRC, this was at $465k for about a month before hitting escrow. This was the closest to rent equivalent I have seen for a while.</p>
 
Yeah CK, I think I posted about that one somewhere... Someone at my office rents that same model with two other people. They pay around $2700 per month.
 
The price is probably so low, because one on Flyers lane went back to the bank last week. Another one on Flyers is scheduled for the auction next month, as well as one on Liberty. And, IIRC, there was at least one or two others in that complex that have already gone back to the bank.
 
<p>Added a few properties, mostly from Turtle Rock, that have gone into escrow within the last couple of weeks...</p>

<p><a href="http://www.ipoplaya.com">www.ipoplaya.com</a></p>

<p> </p>
 
<p>Two more properties going into escrow... Sure seems like buying activity has picked up. I used to see one escrow start per week, not it's one per day.</p>

<p><a href="http://www.ipoplaya.com">www.ipoplaya.com</a></p>
 
<em>I used to see one escrow start per week, now it's one per day.





</em>Ironically, the foreclosures for Irvine this week and last week were one per day too.
 
IPOPLAYA, thanks for sharing the list.



Maybe you can a column to show which are the foreclosures, and maybe you can add another communities like Quail Hill and Woodbury?
 
<p>Unfortunately 123, I don't really know which ones are foreclosures. Some are obvious, but some might not be... I don't have access to that data.</p>

<p>If there is something 2000+ sf in QH or Woodbury that goes into esrow, I will pick it up. There haven't been any since I started. My search is all of Irvine and Tustin.</p>
 
IPO -



Can you pick up escrows for new homes, our can you only see the "re-sale" homes that are in escrow? I'd really like to see some specifics on how the builders are doing as they try to finish up phase X,Y, or Z of various developments.
 
I don't think anyone can see builder escrows... I'm just using regular ole tools like redfin, homeseekers, etc. that are available to everyone. Builders like to keep their stuff a big mystery.
 
Just saw this data on OCRegister today in regards to the distress properties.



All inventory distressed Distressed%

? O.C. $0-$500k 6,422 2,861 45%

? O.C. $500k-$750k 4,612 1,079 23%

? O.C. $750k-$1m 1,775 172 10%

? O.C. $1m-$1.5m 1,155 69 6%

? O.C. $1.5m-$2m 623 22 4%

? O.C. $2m-4m 703 7 1%

? O.C. $4m+ 238 0 0%



Cities with highest % of distressed:

? Santa Ana 1,523 748 49%

? Anaheim 1,235 589 48%

? Lake Forest 359 162 45%



Cities with lowest % of distressed:

? Seal Beach 172 2 1%

? Laguna Woods 380 5 1%

? Newport Coast 146 2 1%



Since I haven't lived through a CA downturn like this, I am curious about Graphix, IR, etc's reactions to this. In particular:

a. is the worst over for the the homes under $500K, and between 500K and 750k?

b. I think we can probably all agree that distressed properties numbers are likely to increase for the one million plus range from t his point on. My question is how bad it will get.



I am sure we all have "opinions" on this questions. What I am looking for are "data" based reaction to this - for example if history repeats itself, how bad will it get and take how long?
 
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