pickandsave_IHB
New member
jriosdds said:
What does the December 31, 2008 sales price represent? Is that what the bank too it back for?
Is Talega near bottom?
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What does the December 31, 2008 sales price represent? Is that what the bank too it back for?
Yes. JP Morgan Chase is now the proud owner.
Owner(s): JP MORGAN CHASE BANK NA
Ownership Rights: ASSOCIATION
Corporate Owner: CORPORATE OWNER
Absentee Owner: SITUS FROM SALE (ABSENTEE)
Additional Owner #1: JP MORGAN CHASE BANK NA
Owner Rights: ASSOCIATION
Property Address: 20 CORTE EL BRAZO
SAN CLEMENTE CA 92673-7023
PROPERTY INFORMATION
County: ORANGE
Assessor's Parcel Number: 708-062-05
Property Type: SINGLE FAMILY RESIDENCE - TOWNHOUSE
Land Use: SINGLE FAMILY RESIDENCE
TRANSACTION INFORMATION
Transaction Date: 12/22/2008
Seller Name: QUALITY LOAN SERVICE CORP
Sale Price: $760,750.00
Deed Type: FORECLOSURE DEED
Type of Transaction: RESALE
Recording Date: 12/31/2008
Document Number: 596987
Construction Type: SALE IS A RE-SALE
Purchase Payment: CASH
Foreclosure Sale: REO - NOMINAL, TRANSFER BETWEEN BANK AND FNMA, FHA, ETC..
Well... Compton is a s*#&hole. Most of Santa Ana and parts of Tustin are s*#@holes. Talega nor VoC would hardly be considered that. If you think it represents something you don't like, that's different than those being s#*@holes. The reason something was built - i.e. take advantage of the housing boom - has not much to do with whether it is a nice place or not. Heck, Trump Towers is a great residence but built purely for the times. Talega has their faults (too hot, can get crowded), but it is a great neighborhood that offers a great environment to raise your kids. Has a great golf course too. It's just all a matter of what you would pay to live there. I would pay $400K for a 2000-2200 sf in Talega. But I wouldn't pay $600K. If it was built in the 90's, it would be a nice neighborhood. The fact that it was built in the 2000's doesn't make it otherwise.
That "green sheet" is a geat reference. Good job for Mr. Eichelberger. However, I must say that his 2 paragraph description about the weather in San Clemente makes me laugh. Even with 15+ years experience, he talks about the weather as if only home buyers experience the sunshine and renters do not experience that luxury. Laughable.
If you look in the $600-$700k range, you should look at the 3,000-3,500 houses.
Talega is hot? I'd say AV, LR and certain Temecula are hotter places that Talega. Any weather persons on here who can confirm?
It's five miles inland. It's as warm there as Foothill Ranch, which is about the same as LR, slightly better than Temecula, and worse than AV.
If you ever get a chance to go to Hearst Castle during the summer, you can see what proximity to the water and elevation can do to temperature. It its sunny, it'll be around 75 at the parking lot. You get on the bus to go to the top (takes about five minutes) and it's 100+ maybe 1/2 mile away. I grew up near Fresno and this was my first introduction to microclimates.
Wednesdays I spend a couple of hours around Bake and the I-5, followed by about an hour in Crown Valley and the I-5. It's always 10 degrees cooler at Crown Valley, and I'm not to the water yet!
I actually just did this test this last week (Wednesday June 22nd). At about 1PM, I measured the temperature in Irvine at the 405 & Sand Canyon, and it was 91 degrees.
Within 30 minutes, I measured it in San Juan Capistrano at Ortega & the 5, and it was 81 degrees, and San Clemente at Vista Hermosa & the 5 it was 80 degrees. Heading up to Talega at the top of La Pata, it was 83 degrees.
My guess would be FR and LR would be considerably hotter than San Clemente, at least comparable to the middle of Irvine.
I actually measured it down in Oceanside/Carlsbad about 30 minutes after that where it was only 78 degrees at Palomar Airport and the 5, but considerably more humid.
What does the December 31, 2008 sales price represent? Is that what the bank too it back for?
NoThereThere_IHB
New member
pickandsave said:
Yes. JP Morgan Chase is now the proud owner.
Owner(s): JP MORGAN CHASE BANK NA
Ownership Rights: ASSOCIATION
Corporate Owner: CORPORATE OWNER
Absentee Owner: SITUS FROM SALE (ABSENTEE)
Additional Owner #1: JP MORGAN CHASE BANK NA
Owner Rights: ASSOCIATION
Property Address: 20 CORTE EL BRAZO
SAN CLEMENTE CA 92673-7023
PROPERTY INFORMATION
County: ORANGE
Assessor's Parcel Number: 708-062-05
Property Type: SINGLE FAMILY RESIDENCE - TOWNHOUSE
Land Use: SINGLE FAMILY RESIDENCE
TRANSACTION INFORMATION
Transaction Date: 12/22/2008
Seller Name: QUALITY LOAN SERVICE CORP
Sale Price: $760,750.00
Deed Type: FORECLOSURE DEED
Type of Transaction: RESALE
Recording Date: 12/31/2008
Document Number: 596987
Construction Type: SALE IS A RE-SALE
Purchase Payment: CASH
Foreclosure Sale: REO - NOMINAL, TRANSFER BETWEEN BANK AND FNMA, FHA, ETC..
gepetoh_IHB
New member
Well... Compton is a s*#&hole. Most of Santa Ana and parts of Tustin are s*#@holes. Talega nor VoC would hardly be considered that. If you think it represents something you don't like, that's different than those being s#*@holes. The reason something was built - i.e. take advantage of the housing boom - has not much to do with whether it is a nice place or not. Heck, Trump Towers is a great residence but built purely for the times. Talega has their faults (too hot, can get crowded), but it is a great neighborhood that offers a great environment to raise your kids. Has a great golf course too. It's just all a matter of what you would pay to live there. I would pay $400K for a 2000-2200 sf in Talega. But I wouldn't pay $600K. If it was built in the 90's, it would be a nice neighborhood. The fact that it was built in the 2000's doesn't make it otherwise.
CougBear_IHB
New member
Unfortunately (or fortunately), the fact that Talega was built in the 2000's means that many of the loans were subprime, Alt-A or Interest Only. Personally, I'd love to buy down there. However, like you, it's going to take a nice discount from something similiar in Aliso Viejo to get me to move all the way down there. Drop baby drop!
socalmd_IHB
New member
Let's face it, if you have 2+ kids and want a new decent sized house with 9000K sq foot plus yard, your options are basically Talega, Ladera, and parts of laguna niguel and SJC. Ideally we'd rather have a house in Newport Coast or Laguna Beach, but it'd cost us 2-3 million which we can't afford. But in those cities mentioned above you can get a sweet deal especially in the 1-1.4 mill range. For example in Ladera I can get a 4000 sq foot house on a 10000sq foot lot. In NC I get a 2600 sq foot house with a 5000K sq foot lot and a shared driveway...no thanks!
OCCOBRA_IHB
New member
Talega
OCCOBRA_IHB
New member
OCCOBRA said:
freedomCM_IHB
New member
only 16months SFR inventory, and 12 months condo inventory there. definitely a sellers market! surely the bottom is just around the corner...
CougBear_IHB
New member
joeyp said:
That "green sheet" is a geat reference. Good job for Mr. Eichelberger. However, I must say that his 2 paragraph description about the weather in San Clemente makes me laugh. Even with 15+ years experience, he talks about the weather as if only home buyers experience the sunshine and renters do not experience that luxury. Laughable.
esq4_IHB
New member
I've been watching Talega recently. Me and the Mrs. are considering buying down there. Lots of activity, especially in the 600-700k range. Some houses that are priced well are moving into backup offer status or hold do not show within days of being listed, with multiple offers on the propert (e.g. 28 Via Ceramica, 20 Via Alonso). Is it possible the 2300-2800 sq/ft homes down there are bottoming at ~250-270 sq/ft? thoughts?
CougBear_IHB
New member
I've been watching that area pretty closely as well (and the same price range). The Via Apuesto, Calle Verdardero, etc... price range is going to get pushed down more IMHO. First of all, these properties are anywhere from 2200-2600 sq/ft and the competitive listings are in the low 600's. Like you said, about $250 sq/ft. However, there is a massive quantity of 3,000 sq/ft homes on the streets above these listings and elsewhere that are asking closer to $200-$220 sq/ft... and they STILL aren't selling. Even some listings starting to drop into the high $100's. Yes, I know this has a lot to do with the issues with Jumbo loans, but still... they are far more competitively priced and the amenities in the bigger houses are much much better.
So, rambling aside. I see it dropping further. I honestly think that range bottoms at $200 sq/ft or even $185 sq/ft if it shoots down further.
1. Talega has very high taxes & HOA's
2. The commute is very far. Most buyers would purchase a comparable property closer to their workplace.
3. Talega was most purchased during the 2002-2006 period. The percentage of "home owners" underwater has to be insane. Anyone have a good guess?
4. High percentage of quirky mortgage products
So, rambling aside. I see it dropping further. I honestly think that range bottoms at $200 sq/ft or even $185 sq/ft if it shoots down further.
1. Talega has very high taxes & HOA's
2. The commute is very far. Most buyers would purchase a comparable property closer to their workplace.
3. Talega was most purchased during the 2002-2006 period. The percentage of "home owners" underwater has to be insane. Anyone have a good guess?
4. High percentage of quirky mortgage products
usctrojanman29_IHB
New member
"Ahhhhhh Talega" (per the commercial).OCCOBRA said:
Gohabsgo_IHB
New member
TR_Esq said:
If you look in the $600-$700k range, you should look at the 3,000-3,500 houses.
norcaljeff_IHB
New member
gepetoh said:
Talega is hot? I'd say AV, LR and certain Temecula are hotter places that Talega. Any weather persons on here who can confirm?
no_vaseline_IHB
New member
norcaljeff said:
It's five miles inland. It's as warm there as Foothill Ranch, which is about the same as LR, slightly better than Temecula, and worse than AV.
If you ever get a chance to go to Hearst Castle during the summer, you can see what proximity to the water and elevation can do to temperature. It its sunny, it'll be around 75 at the parking lot. You get on the bus to go to the top (takes about five minutes) and it's 100+ maybe 1/2 mile away. I grew up near Fresno and this was my first introduction to microclimates.
Wednesdays I spend a couple of hours around Bake and the I-5, followed by about an hour in Crown Valley and the I-5. It's always 10 degrees cooler at Crown Valley, and I'm not to the water yet!
secondspan_IHB
New member
I actually just did this test this last week (Wednesday June 22nd). At about 1PM, I measured the temperature in Irvine at the 405 & Sand Canyon, and it was 91 degrees.
Within 30 minutes, I measured it in San Juan Capistrano at Ortega & the 5, and it was 81 degrees, and San Clemente at Vista Hermosa & the 5 it was 80 degrees. Heading up to Talega at the top of La Pata, it was 83 degrees.
My guess would be FR and LR would be considerably hotter than San Clemente, at least comparable to the middle of Irvine.
I actually measured it down in Oceanside/Carlsbad about 30 minutes after that where it was only 78 degrees at Palomar Airport and the 5, but considerably more humid.