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IR2 - I'm really glad you started this thread, because it's something I've been wondering too. I've noticed a number of obvious short sale properties in South OC that have been sitting in the "backup offers accepted" stage for a long time, and judging by the loans on the property I just...

Postponments... 56 Bogey postponed until 8/19, mutual agreement 1 Sawgrass postponed until 7/21, also mutual agreement

56 Bogey Lane is scheduled for auction today. NTS amount is $641k. Don't see an opening bid amount. This is the original auction date so it could get postponed...I'll update if anything happens. Here's a visualization of Coto foreclosures right now: <fieldset class="gc-fieldset">...

<a href="http://www.ocregister.com/ocregister/homepage/abox/article_2070586.php">Foreclosure auction update from the Register with some prices</a>. Crazy that some of these homes sold at all.

Looks like someone came through on 72 Downfield Way. It was canceled yesterday.

Who knows if it means anything at all, but in the past couple days I've seen a few WTF listings pop on to the market. Perhaps some owners are getting bold and think they can get above 2004 prices? It seemed like for a few weeks that all that was on the market was either an REO, short sale or...

<a href="http://www.redfin.com/CA/Coto-De-Caza/72-Downfield-Way-92679/home/5020572">72 Downfield Way</a> is scheduled for auction today. I'll update with whatever happens

Via Coyote has been postponed till July 16...

If it cost the same each month as it would to rent, then I would probably bite. Of course, knife catchers would probably beat me to it and bid it higher to the point that it wouldn't pencil out, so in that case I would have already moved on.

That place on Via Coyote is one of those foreclosures that shouldn't have happened. The owners bought in 2003 for $1.023 million ($273,000 down) but refinanced into $1.44 million worth of loans ($944k/$500k) from C'Wide in 2006.

7 bedrooms? Are they going to want to run a bed and breakfast out of there?

<a href="http://www.southoctracker.com/2008/06/60-off-in-aliso-viejo.html">Here's a profile of one in Aliso Viejo that's now pending</a>. <img src="http://bp0.blogger.com/_myLEkrGij5A/SFF83nB3NyI/AAAAAAAAB_k/QHDtz-_wZxw/s320/lh061308.jpg" alt="" />

For some people I know that own them, they work, for others, they don't. Essentially what you are doing is pre-paying for your vacations. If you're the type that does take a vacation every year (or wants to), and doesn't mind staying in the same hotel/resort for a week, you might like it...

For followers of Dove Canyon - 20 Promontory went back to the bank today for $697k. NTS amount was $835k. Last sold in 1998 for $465k, free $ abuse looks like it led to foreclosure.

This doesn't answer the question, but I can tell you that property is REO and was bought for $500k in 2006 using 100% financing.