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30 Crimson Rose was sold at the Trustee's Sale today for $1.4 million. Did the second TD holder bid up the price? The notice of sale on Fidelity ASAP's website does not say it was sold "Back to Beneficiary" as it usually does when the beneficiary buys the property. Anyone know what happened?

Admin: please delete this.

IHB should adopt Crimson Rose as a housing bubble poster child. Right now the street features a foreclosure, a rollback and a knife catcher all within 50 yards of each other. And Crimson is the color of flowing blood...imagine the catchy headlines and horror-movie photos Irvine Renter would...

What happened to Turtle Rock back in the 90s? If I have my history straight, it was the Irvine Co's flagship development of the last boom, and was finished in 89-91 just as that boom peaked and began to decline. What happened after that? Did prices decline there through the early and mid 90s...

<p><strong><u>UPDATE</u></strong></p> <p>41 Rose Trellis is now an REO; it was finally sold back the bank at the Trustee's Sale on July 6. Look out 32, 34, 35, 37 and 39 Rose Trellis, here comes the comp killer!</p> <p> Friday 7/6/2007...

<p>Maybe the patio features some "<em><strong>Italianesque-Themed Trees</strong></em>?" </p> <p><a...

<p>Last weekend an agent told me that the offer for 39 Rose Trellis was legit, but that it was in escrow for only $1.7 million. (MLS wishing price was $1.95m; flyer posted outside said $2.05m.) Is the listing back on the MLS now? If so, how much?</p>

<p>A brief reprieve for the damned: the Trustee's Sale for 41 Rose Trellis has been postponed until July 6. I wonder if the other Rose Trellis sellers will take advantage of this by cutting their prices and quickly finding a fool. (Not holding my breath, though.)</p> <p> </p> <p>...

This is exactly the same pricing for Las Colinas that has been in place since January 23, but with the design center credits (and I believe they're also offering a 3% broker participation). The design center credit has increased slightly, IIRC; I think it was previously $45k for Plan 4. The...

When did they roll out the latest round of price reductions? If they've officially lowered asking prices, the Irvine Company must have blessed it, which means they probably permitted other Portola builders to lower their prices as well. Has anyone picked up a price sheet from Paloma...

Although the MLS rental listings give only a partial picture of the rental supply, they do give at least some data. Does anyone have a sense of the demand side of the equation? In my intial post I noted that to reasonably carry $4200 in monthly rent, a financially prudent renter would...

I've been looking for a 3-4 bedroom house or condo to rent in Quail Hill or Turtle Ridge while I sit on the sidelines and watch the great train wreck unfold. I've started to see some unsuccessful sellers take their properties off the sale market and put them up for rent. Problem is, on...

<p>Joon, Can you post some listing info for 34 Rose Trellis? </p> <p>Just checked Fidelity ASAP's website and the Trustee's Sale for 41 Rose Trellis is still scheduled for May 3, one week from today. I hope the buyer who is under contract for 39 Rose Trellis knows about all of this. Talk...

<em>"Price is a function of the interest rate."</em> I'd say that price is a function of supply and demand. If interest rates rise, some potential buyers will be excluded from the market, thereby reducing demand. In that sense, you're right, price is ultimately affected by interest...

I actually posted the notes about this tragedy because I thought it could be an example (though extreme and bizzarre) of the human cost of the bubble bursting. There was no ill will or derision intended. On this blog it is usually open season on people who have been undone by their own greed...

<p><strong>From the LA Times story:</strong></p> <p><em>The Parks, a Mission Viejo couple, had checked into a bungalow there in hopes of discussing a "business-type thing" that was vexing them, said their daughter, Christie Park, 23.</em></p> <p><em>Police say Kevin and Joni Park paid for...

Yes, the Trustee's Sale is the "foreclosure auction" on the courthouse steps where the Trust Deed is auctioned off to the highest bidder, who then becomes the new owner of the property. The second posting in this thread is the Notice of Trustee's Sale. If there are no bids the property...

Wow, that's going to be one unhappy buyer when 41 Rose Trellis is sold at the Trustee's Sale for $1.4m and the bank unloads it as an REO for even less than that. There go the comps.

<p>Graphix: nice work. If the first TD is $1.42 million, and there is another $500,000 in debt on the house, that's $1.94m in debt! Sounds like the second TD holder is going to get wiped out, and I'm not even sure the first TD holder will be made whole. Also, since the first TD is a re-fi...

Interesting. I've been thinking that the backstory to the explosion of subprime lending since 2003 had a lot to do with excessive capital taking higher risks in search of higher returns. The dot com crash in 2000, Enron and similar scandals in 2001-2002 and Sarbanes Oxley reforms in 2002...