Costa Mesa foreclosures

Real wages have been essentially flat since the 70's. They should have risen more in the '90's when we had an increase in productivity, but they didn't rise as much as the model would suggest. However, GDP has grown, but what we've been seeing is a rising disparity in wealth distribution. Perhaps what we'll see instead of CS at 128 with 65% ownership, more people renting and landlords accumulating more properties and rents being even more unaffordable???
 
No_Such_Reality said:
Market, hang tough. There's better neighborhoods that will be just as cheap. IPO or IR, any chance you could show us the coming carnage in Eastside Costa Mesa, the area from the 55 to the Backbay between the 73 and 17th streets?

I see places that are on the MLS that give no indication they are REOs yet they are empty and then have a prior sale listed in the last 2,3, or 4 months. And there's several shadow inventory that I see a sign up, but not on the MLS anywhere (cause the people moved out in a hurry and the realtor hasn't come back). Or the homes are just plain empty. Or the apparent failed flip now looking for $3700 rent on Craigslist.

I'd signed up for one of the tools, but it'll just increase my urge to buy.

Actually, does it increase your urge to buy or does seeing the tsunami forming kill the urge to buy? Maybe $50/month for the tool would be a good investment to suppress the buying urge and making a $100,000 mistake
Click to expand...

Another sign that points out these are desperate flippers is that they always allow dogs and cats. Extra pet deposit or not, you spend all this money on new wood floors and carpeting for a house that you want to allow pets?
 
“That area will probably never be affected by foreclosures.”

We’ll see about that! Actually, the “heirloom” homes have nothing to worry about. However, I now question every transaction that occurred during the bubble, regardless of geography. Anybody who is banking on home appreciation for refinancing is toast. Time will tell.

You would be surprised how much "new" money is down here buying these places. I will agree that some of these places have been owned for quite a while, but there were teardowns of houses that were replaced by duplex condos on a lot. My neighbor bought a 3bd/2.5ba condo for 1.3ish and he has someone living on the top half of him...sounds insane to me. The quality of the actual construction is piss poor and they used cheap quality fixtures that look nice but will fall apart in a few years. For 1.3 I expect a little more value.

As far as Rodman, I have not seen that trainwreck in a number of years. He lived down the block and always had something going on with his tagalong crew of 909 Whiskey Tango...the kind of people who thought more tattoos = more interesting person. Good riddance.
 
Anonymous said:
ipoplaya & IrvineRealtor - what do the dots mean? Key please?
Click to expand...

Red point = Bank-Owned property. a.k.a. REO.

Green point = Pre-foreclosure. Notice of Default (NOD) has been filed.

Blue point = Auction property. Notice of Trustee's (NOT) Sale has been posted.
 
I'm looking at the red dots and think we own one of them. It's almost overlapping a red dot of the on directly behind me that was also a bank owned that went into escrow last week. The blue right next to it went back to the bank a few weeks ago.
 
Red point = Bank-Owned property. a.k.a. REO.

Green point = Pre-foreclosure. Notice of Default (NOD) has been filed.

Blue point = Auction property. Notice of Trustee’s (NOT) Sale has been posted.

Wow! "Red tide" may have a new meaning at the beach in the future.
 
"599 Traverse Drive - Scheduled for auction on 5/30. Min bid looks like its $642K."

Hey IPO, any idea if 599 Traverse was purchased at the auction? The homeowners still live there from what I've noticed so I would assume no, whereas 583 Traverse appears vacant (at least it seems that way when I drive by).

Also, is 578 Traverse heading to auction? Thanks

MD
 
You must log in or register to reply here.
Back
Top