Quail Hill mid-high end foreclosures

[quote author="irvine_home_owner" date=1250231085]This should go in Delroy's "WTH are you thinking with your WTH pricing" thread but 39 Balcony is ~3600sf, so that's approximately $369/sf.



Olivos:

113 Weathervane 4/3 2300sf $1.235m $537/sf



Tapestry:

136 Tapestry 4/3.5 2500sf $1.250m (finally lowered from the WTH Certified Habitat Pricing of $1.399m) $490/sf

141? Tapestry 4/4? 3000sf $1.2m $400/sf (just went off the market so might be sold)



Chantilly:

105 Bottlebrush 4/4.5 3120sf $1.650m (this is REO now so their listing was just looking for a last minute bailout) $529/sf

116 Capeberry 4/4.5 3100sf $1.299m $419/sf

104 Capeberry 4/4.5 3050sf $1.399m $459/sf

(the above are all the same model)

104 Tearose 3/3.5 2612sf $1.199m $459/sf



Sienna:

114 Retreat 6/4.5 3800sf $1.580m $416/sf

1xx Ambiance 6/5 3800sf $1.450m (just got re-listed, not sure what the original list price was) $382/sf



Vicara

39 Fresco 4/4 3250sf $1.649m $507/sf

525 Luminious 3/4 3200sf $1.997m $624/sf (top of Quail Hill premium)



Even if these houses get offers, how will any appraiser get good comps when you have something like 39 Balcony hanging around?



I really hope $300-$350/sf is where QH ends up... but it's doubtful.</blockquote>
115 Ambiance original list was $1.55m and the listing agent and sellers won't even counter back with an offer of less than $1.4m.
 
[quote author="irvine_home_owner" date=1250231085]I really hope $300-$350/sf is where QH ends up... but it's doubtful.</blockquote>


Agree. QH will end up in $200s.



Supply/conforming jumbo limits/$200k+ jobs... None of that bodes well for $1m+ homes. Take expected house price appreciation away, and **puff** the middle class becomes an "artist formerly known as middle class"
 
Graph, did 105 Bottlebrush sell at the auction yesterday or postponed again? I looked at it when it first surfaced on ForeclosureRadar, and it was the only house on the street with 3 brand new German cars parked in front. Looked at it a few weeks ago and saw no cars.



A very wise boss/mentor told me 20yrs ago that golf courses become a decent investment after the 3rd owner. The first owner is a "dreamer". The second is the guy who sees "value" when the price drops 10%. The third is a shark who buys at the bankruptcy auction. I think we are between step 2 and 3 now.
 
[quote author="earthbm" date=1250290700]Graph, did 105 Bottlebrush sell at the auction yesterday or postponed again? I looked at it when it first surfaced on ForeclosureRadar, and it was the only house on the street with 3 brand new German cars parked in front. Looked at it a few weeks ago and saw no cars.

</blockquote>


Postponed until Sept 25. Another 2 months of free rent for the homedebtor, another $15-20k in missed payments to pile on the loss for the bank.



Friday

9/25/2009 12:00:00 PM

Address: 105 Bottlebrush

City: IRVINE

State: CA

Zip: 92603

County: Orange

APN: 481-101-09



Sale Status: Postponed to 09/25/2009

(Mutual Agreement)

TS Number: 228756CA

ASAP Number: 3047988

Notice of Sale Amt: $847,972.17

Opening Bid Amt: 0

Sold Amt: 0

Sale Location: At the North front entrance to the County Courthouse, 700 Civic Center Drive West, Santa Ana, CA.

Get Yahoo! Map

Trustee: California Reconveyance Company

Trustee Phone#: (800)892-6902
 
[quote author="earthbm" date=1250289823][quote author="irvine_home_owner" date=1250231085]I really hope $300-$350/sf is where QH ends up... but it's doubtful.</blockquote>


Agree. QH will end up in $200s.



Supply/conforming jumbo limits/$200k+ jobs... None of that bodes well for $1m+ homes. Take expected house price appreciation away, and **puff** the middle class becomes an "artist formerly known as middle class"</blockquote>


Newport Coast > Turtle Ridge > Quail Hill



It's probably a 15% differential for each of these neighborhoods, NC should be in the high $300/low $400, TR around $350, and QH at $300. I don't see how they could hold up as high as they are right now.
 
Where are all the people with that level of income going to come from? All FCBs?



take all those NC/TR/QH units, and assume that the households with higher incomes will first see if they can afford CdM, NPB, Laguna, TRock, etc. Does that really leave enough households with $200k+ incomes to support those 3 newer markets house prices?
 
[quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.
 
[quote author="irvine_home_owner" date=1250301744][quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.</blockquote>
That may not necessarily be the openning bid amount...could be higher or lower.
 
[quote author="irvine_home_owner" date=1250301744][quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.</blockquote>


I'm actually looking at Oakcreek also, but who knows, you may see me at one of these auctions. I'll go Graphix a calling maybe.





Hey, here's a dumb question, what happens if the relatives of this home owner swoops in and bids that 847k for that house and gets it and those owners continue to stay in there. Or is it possible they just didnt' want to keep paying their mortgage, stopped, let it go to auction, and buy it back. Is that possible. I mean, 3 new german cars, come on. I used to know people who tried this selling short shit to their own relatives. Bunch of fraudulent a-holes. I hate people like this. Taking advantage of the system and let the taxpayers bail you out.
 
[quote author="frank69m" date=1250317005][quote author="irvine_home_owner" date=1250301744][quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.</blockquote>


I'm actually looking at Oakcreek also, but who knows, you may see me at one of these auctions. I'll go Graphix a calling maybe.





Hey, here's a dumb question, what happens if the relatives of this home owner swoops in and bids that 847k for that house and gets it and those owners continue to stay in there. Or is it possible they just didnt' want to keep paying their mortgage, stopped, let it go to auction, and buy it back. Is that possible. I mean, 3 new german cars, come on. I used to know people who tried this selling short shit to their own relatives. Bunch of fraudulent a-holes. I hate people like this. Taking advantage of the system and let the taxpayers bail you out.</blockquote>


I hate them too, but I hate the system for making it possible to do that.
 
[quote author="Roo" date=1250318424][quote author="frank69m" date=1250317005][quote author="irvine_home_owner" date=1250301744][quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.</blockquote>


I'm actually looking at Oakcreek also, but who knows, you may see me at one of these auctions. I'll go Graphix a calling maybe.





Hey, here's a dumb question, what happens if the relatives of this home owner swoops in and bids that 847k for that house and gets it and those owners continue to stay in there. Or is it possible they just didnt' want to keep paying their mortgage, stopped, let it go to auction, and buy it back. Is that possible. I mean, 3 new german cars, come on. I used to know people who tried this selling short shit to their own relatives. Bunch of fraudulent a-holes. I hate people like this. Taking advantage of the system and let the taxpayers bail you out.</blockquote>


I hate them too, but I hate the system for making it possible to do that.</blockquote>




And the great thing about this whole foreclosure business, is yes, it hurts your credit, but it doesn't make a difference if you can actually pay for it. Some just stop paying even if they can afford it or even if they have 500k sitting in the bank. Bank can't force you to pay your mortgage even if you have 500k in the bank They just don't want to pay for something that is already in the toilet and won't recover for a decade. Isn't the USA great for allowing this!
 
[quote author="frank69m" date=1250319052][quote author="Roo" date=1250318424][quote author="frank69m" date=1250317005][quote author="irvine_home_owner" date=1250301744][quote author="GavriloPrincip" date=1250297281]

Address: 105 Bottlebrush

Notice of Sale Amt: $847,972.17

</blockquote>
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.</blockquote>


I'm actually looking at Oakcreek also, but who knows, you may see me at one of these auctions. I'll go Graphix a calling maybe.





Hey, here's a dumb question, what happens if the relatives of this home owner swoops in and bids that 847k for that house and gets it and those owners continue to stay in there. Or is it possible they just didnt' want to keep paying their mortgage, stopped, let it go to auction, and buy it back. Is that possible. I mean, 3 new german cars, come on. I used to know people who tried this selling short shit to their own relatives. Bunch of fraudulent a-holes. I hate people like this. Taking advantage of the system and let the taxpayers bail you out.</blockquote>


I hate them too, but I hate the system for making it possible to do that.</blockquote>




And the great thing about this whole foreclosure business, is yes, it hurts your credit, but it doesn't make a difference if you can actually pay for it. Some just stop paying even if they can afford it or even if they have 500k sitting in the bank. Bank can't force you to pay your mortgage even if you have 500k in the bank They just don't want to pay for something that is already in the toilet and won't recover for a decade. Isn't the USA great for allowing this!</blockquote>


I seriously qish bank go after people who HELOC'ed themselves into this mess. It's just to easy otherwise.



Sad thing is if I had bought in '04 I might have done the same... Let's just be realistic.
 
[quote author="frank69m" date=1250319052]





And the great thing about this whole foreclosure business, is yes, it hurts your credit, but it doesn't make a difference if you can actually pay for it. Some just stop paying even if they can afford it or even if they have 500k sitting in the bank. Bank can't force you to pay your mortgage even if you have 500k in the bank They just don't want to pay for something that is already in the toilet and won't recover for a decade. Isn't the USA great for allowing this!</blockquote>




businesses do this all the time, no? its all about the contract. the banks agreed to accept the house or the money, now they are getting the house.



the pisser is that the gov't isn't following the rules by bailing them out.





of course, its a whole dfferent ball of was if the "homerenters" heloc'd or refi'd.



personally, i hope the banks go after those fraudsters for all they have.
 
<a href="http://www.zillow.com/homedetails/149-Treehouse-Irvine-CA-92603/61643640_zpid/">149 Treehouse</a> went back to the bank today for $948,433.26, less than the 2004 purchase price of $967,500. Ouch! And so it begins...
 
[quote author="ABC123" date=1251379980]and so what begins?</blockquote>


More mid-high end foreclosures in Irvine. <a href="http://www.irvinehousingblog.com/forums/viewthread/5884/P100/#124595">See Irvine breaks the 900 mark here</a>.
 
[quote author="graphrix" date=1251379559]<a href="http://www.zillow.com/homedetails/149-Treehouse-Irvine-CA-92603/61643640_zpid/">149 Treehouse</a> went back to the bank today for $948,433.26, less than the 2004 purchase price of $967,500. Ouch! And so it begins...</blockquote>


So, I guess no bids?



I may need to join you at some of these at the courthouse to watch the whole process.



Also, why doesn't this show up on:



<a href="http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode;=&q=foreclosure&mrt=realestate&sll=33.65721,-117.785797&sspn=0.101449,0.185051&ie=UTF8&radius=5.32&rq=1&ev=p&ll=33.65721,-117.785797&spn=0.101449,0.185051&z=12"> Foreclosures </a>
 
[quote author="frank69m" date=1251400752]

Also, why doesn't this show up on:



<a href="http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode;=&q=foreclosure&mrt=realestate&sll=33.65721,-117.785797&sspn=0.101449,0.185051&ie=UTF8&radius=5.32&rq=1&ev=p&ll=33.65721,-117.785797&spn=0.101449,0.185051&z=12"> Foreclosures </a></blockquote>
If it was slated for auction... I don't think it's "bank-owned" yet.



Something about those dots going from green to blue (auction) to red.



They should have a black with white in the middle dot.
 
[quote author="frank69m" date=1251400752][quote author="graphrix" date=1251379559]<a href="http://www.zillow.com/homedetails/149-Treehouse-Irvine-CA-92603/61643640_zpid/">149 Treehouse</a> went back to the bank today for $948,433.26, less than the 2004 purchase price of $967,500. Ouch! And so it begins...</blockquote>


So, I guess no bids?



I may need to join you at some of these at the courthouse to watch the whole process.



Also, why doesn't this show up on:



<a href="http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode;=&q=foreclosure&mrt=realestate&sll=33.65721,-117.785797&sspn=0.101449,0.185051&ie=UTF8&radius=5.32&rq=1&ev=p&ll=33.65721,-117.785797&spn=0.101449,0.185051&z=12"> Foreclosures </a></blockquote>


No bids, no one wanted it.



Let me know when you want to go, and I can give you the tour de foreclosure auction.



Google is getting their foreclosure info from 3rd party sources, none of which are that good. It shows up in foreclosure radar, and they aren't perfect either, but they are the best out there.
 
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