Woodbury East Home Auction Saturday

Auction set for Saturday for Woodbury East homes - by Jeff Collins at Irvine Homes Blog

A receiver for bankrupt John Laing Homes will hold a sale at 9 a.m. Saturday to auction off the eight unsold homes of what was supposed to be the 97-unit Celadon project.

The two- and three-level townhomes at Woodbury East originally were to sell for $548,880 to $607,880. Opening bids for the 1,400- to 1,800-square-foot units range from $439,000 to $469,000.

Taylor Grant of California Real Estate Receiverships said that his firm already has 97 pre-qualified buyers, projecting that more than 200 potential buyers may show up.

The auction will take place at the sales office at Towngate and Cross Pointe streets in Woodbury East. Registration will begin at 9 a.m., with offers being submitted in writing starting at 10 a.m.

The initial high bids will be posted for each unit, and buyers will have the opportunity to enter higher bids.

For more information, visit www.celadonirvine.com or call 949-939-2000.

Hmm. I still don't think they're worth the amounts they're going to start at.

OT sorta:

I fear that this'll be a ridiculous bidding war for really nothing. Mr. Spin and I went to an Open House over the weekend (not in Irvine) and a house was going for $295,000 and the Realtor didn't look at us once or say hello. However, the "Guest book list" had all these names, addresses, email and instead of putting their phone number in the column, they put a price of $475k. OMG. REALLY?

I think we'll pass on seeing this auction. <!-- s:| -->:|<!-- s:| -->

[quote author="spinderella"]Hmm. I still don't think they're worth the amounts they're going to start at.

OT sorta:

I fear that this'll be a ridiculous bidding war for really nothing. Mr. Spin and I went to an Open House over the weekend (not in Irvine) and a house was going for $295,000 and the Realtor didn't look at us once or say hello. However, the "Guest book list" had all these names, addresses, email and instead of putting their phone number in the column, they put a price of $475k. OMG. REALLY?

I think we'll pass on seeing this auction. <!-- s:| -->:|<!-- s:| -->[/quote]
Where was this home located? I didn't think there were an decent homes listed for less than $450k-$500k in the good parts of OC.

Oh, it wasn't in the OC. We were going for a drive along the toll road and saw a lot of signs for homes in Corona Hills, so we thought we'd check it out.

It was totally bizarre to see how the whole thing went down, and in multi-homes that we checked out!