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Funny you should mention $1.0m homes. As of yesterday according to the MLS, there were 1,041 $1.0m-$1.5m homes for sale throughout all of Orange County.

update-- cracks are getting larger. counted *6* homes now in pre-foreclosure or foreclosure currently in cc (and that is excluding homes that are coming up as bank owned over on tide watch) there is still a few coral cay homes flying under the radar. graphix - show me the dots!

(built in 2007) tough to comp out this property in cc as most homes in the last few years that selling in that area were closer to 3,000-4,500sq.ft. you can comp this home but have to look to other communities throughout nc. only in the last 2-3 years did these 6,000+sq.ft. mansions in cc...

Sold, 39 S Sur 6 bedrooms 6 baths + 2 half baths ocean, catalina, coastline views approx 6,200sq.ft. lot size 19,190 model home (price includes furnishings) $5,250,000 <img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/59/hr96183959-1.jpg" alt="" /> <img...

final price zeroed out in the mls cactus fan. previous owner had a $1.724 note against the land, i'm willing to bet the final price was somewhere very near there. (wait for the supplemental tax bill)

I believe so freedomCM. Over in Ladera for instance, I was told a short-sale was approved on a home that had a balance of over $820,000, and the short-sale was approved at $492,000! As the reo's set the comps, this I think puts the pressure even more on the lender to be more aggressive with...

just sold over in Vistas. these are townhome style condos <img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/95/hr96165895-2.jpg" alt="" /> Short-sale (lenders getting more aggressive w short-sales?) Sold price: $825,000 / $358p/sq.ft.(new low p/sq.ft. for NC!) Approx...

dangerously close. on another note, the assessed value per the county --> $6,072,988

...another spec home (owner/builder) proudly chasing the market down <img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/76/hr96052576-8.jpg" alt="" /> 66 Canyon Creek 10,566sq.ft. 32,000sq.ft. lot List Date 6-29-2007 $11,350,000 1/30/2008 $10,750,000 2/14/2008...

big comp killer over in Newport Heights... <img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/31/hr96015131-1.jpg" alt="" /> 2345 E. 16th Street 3/2 1,875sq.ft. 6,720sq.ft. lot Sold: $614,250 (3/3/09) Last sold: $1,477,000 (6/27/06) If the math is...

It's even more funny the REO (and others) was given to an agent who proclaimed the high end was "immune" just up until a couple months ago...

hi skek - 37 S. Sur $6.490m and 41 S. Sur $6.775m, but it doesn't say anything regarding an auction... 39 S. Sur is pending at $4.950m. listing agent said the home never made it to auction but was scheduled to be auctioned (traditional sale)

Yeah - homeowners aren't really budging yet on prices. All it's going to take is one bank-owned or 1 motivated owner to sell, and it will begin to set the comps, the cards will soon start to fall thereafter. Plenty of inventory (54 homes) and 1 or 2 sales in the last four or five months...

awgee - wait, I think I see him in the window

This property is one of the more aggressive priced in Newport Coast right now <img src="http://socalvapictures.firstamericanmls.com/MediaDisplay/73/hr96191473-1.jpg" alt="" /> 3 + 3 (approx. 1,900sq.ft.) Built in 2003 by Greystone Homes ($832,000 - 10/7/03) Days on the market 274...

So the builder(owner) of this spec home is on his 3rd broker (maybe he figures 3rd time's a charm?) Anyways, this listing is a pretty good example of someone who chases a market down Total days on the market = <strong>804</strong> First Listed: 7/7/2006: $9,750,000 $8,995,000...

escrowbear, check out the link below... http://mortgage.freedomblogging.com/2009/02/23/bigger-loans-available-to-oc-home-buyers/6983/

<a href="http://www.latimes.com/business/la-fi-loanprobe25-2009feb25,0,7449244.story">http://www.latimes.com/business/la-fi-loanprobe25-2009feb25,0,7449244.story</a>

great post matt138 - thanks for bringing this to our attention