Ladera Ranch?

NEW -> Contingent Buyer Assistance Program
The bulk of the community was built during bubble years. Not many Ladera residents have a thick equity cushion.

Oh, and a sucky commute too.
 
Yep, quite alot of Fraud went on there... You know, buy the house and then immediately go DOA - Default on Arrival!

( Of course they would take out a second loan and then rent it out until the house was foreclosed....)

Anyways good luck

-bix
 
Whoo Wee! This could get ugly.

"Residents' protests put Ladera Ranch power plant construction on hold" O.C. Register, Dec 14.

www.ocregister.com/ocregister/news/local/article_1942937.php

Combine an area with many homes and homeowners at risk financially, with a perceived environmental issue that can be the whipping boy for a decline in home values. Stir in apparent issues of not properly informing the home owners and NIMBY (Not In My Back Yard) thinking. Cook in outrage and anger. Spice with misinformation and fear.
 
When the power company needs to load trim on a 100F summer day, they can simply cut off power to Ladera. Problem solved.

Edit: ...or they could build one of these.
 
OUCH!

Previous sale 9/16/2005 for $539,000

Current price $385,000

That's a 28.5% reduction in the 2005 sales price.

http://redfin.com/stingray/do/listings-search#residential=true&condo=true&min_price=300000&max_price=450000&num_beds=2&num_baths=2&time_on_market_range=-&min_listing_approx_size=1250&max_listing_approx_size=&sold_within_months=0&min_parcel_size=&max_parcel_size=&min_year_built=&max_year_built=&status=1&lat=33.60861492433043&long=-117.69104003906251&zoomLevel=11&disp_mode=B&market=socal
 
Recent foreclosure activity in Ladera Ranch...

11 Duskywing Court back to the bank 4/1 for $669,375

36 Foliate Way back to bank 4/2 for $1,088,492.20

18 Merrill Hill back to bank 4/2 for $1,305,000...2 Merrill Hill is actually scheduled for auction Monday, notice of sale amount is $1,532,888.43
 
Ladera is truly a bloodbath. Check out the home up for the REDC auction on Sunday. $899k minimum bid for 4576 sqft. O U C H!

1001355234-6.jpg


The REDC auction is like a South County orgy of homes, my gawd it is bad. Where is sighburrdud when you need him?
 
Check out this price reduction history in Ladera

http://www.redfin.com/stingray/do/printable-listing?listing-id=1101321

Date

Price

Sep 04, 2007

$3,499,000

Sep 11, 2007

$2,999,000

Oct 05, 2007

$2,899,000

Oct 08, 2007

$2,999,900

Oct 16, 2007

$2,899,900

Oct 21, 2007

$2,499,900

Nov 03, 2007

$2,999,999

Nov 04, 2007

$3,000,000

Nov 27, 2007

$2,999,999

Jan 12, 2008

$2,999,900

Jan 16, 2008

$2,899,900

Mar 07, 2008

$2,799,900

Mar 13, 2008

$2,499,900

But i guess they need to keep up with the Joneses about 2 houses away

http://www.redfin.com/stingray/do/printable-listing?listing-id=670825

Apr 20, 2007

$3,199,000

Apr 22, 2007

$2,950,000

Apr 28, 2007

$2,879,000

May 08, 2007

$2,850,000

Jan 09, 2008

$2,599,000
 
Those ultra-low auction prices are deceptive - like a bait-and-switch, only with the same product both the bait and the switch. There was one property from Ladera that was put up for auction at something like $130/month. But the auction failed, and they put it on the market at nearly twice the price. No doubt that price was the reserve. Same with this - I bet the reserve is at least 1.3 million.
 
I believe that house was sold for $1.35M at the auction this past weekend. Crazy someone would pay over $280/sq ft for that house right now.
 
So does ladera simply a portent for what irvine will be in a year, or is it on its own special death spiral that is going to get a lot worse. Obviously, its in a less disiarable location. But man, i'm seeing some nice stuff for less then $250 a square foot. Where will it end?
 
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