Quail Hill mid-high end foreclosures

[quote author="graphrix" date=1251426947][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.</blockquote>


I wanna go, can I come?
 
[quote author="CapitalismWorks" date=1251428426][quote author="graphrix" date=1251426947][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.</blockquote>


I wanna go, can I come?</blockquote>
If we are going to have a foreclosure party, I want to go also.
 
Field trip to the courthouse it is. I will PM all of you what days I will be there next week, after I take a look at what is scheduled. Gotta keep it private, too many Newport nutty stalkers out there. ;-)
 
[quote author="davenlei" date=1251438799]When does the auction usually happen? I may be interested..</blockquote>


The bigger auction in Santa Ana starts at 12pm, the smaller one starts at 3pm, and these are the two that the field trip would take place. Placentia and Orange are in the morning, at 10am and 9am respectively, and I might go to them from time to time if anyone is interested in these.
 
So here's a question that may have been answered (sorry graph)... but is there a way for JoeIHO to talk to the bank that has the REO and negotiate taking over or starting a new loan on a foreclosed property?



I don't know what type of logistic issues that this would create but I assume it would be cheaper than the normal realtor/REO/short sale process. Of course this is more complicated (and riskier) than a cash auction, but if no one bids, wouldn't this be an alternative? Or if a realtor is needed, have a realtor contact the bank on your behalf and negotiate for the house.
 
[quote author="graphrix" date=1251439337][quote author="davenlei" date=1251438799]When does the auction usually happen? I may be interested..</blockquote>


The bigger auction in Santa Ana starts at 12pm, the smaller one starts at 3pm, and these are the two that the field trip would take place. Placentia and Orange are in the morning, at 10am and 9am respectively, and I might go to them from time to time if anyone is interested in these.</blockquote>
I call dibs on the Santa Ana 12pm tour bus!
 
[quote author="irvine_home_owner" date=1251439458]So here's a question that may have been answered (sorry graph)... but is there a way for JoeIHO to talk to the bank that has the REO and negotiate taking over or starting a new loan on a foreclosed property?



I don't know what type of logistic issues that this would create but I assume it would be cheaper than the normal realtor/REO/short sale process. Of course this is more complicated (and riskier) than a cash auction, but if no one bids, wouldn't this be an alternative? Or if a realtor is needed, have a realtor contact the bank on your behalf and negotiate for the house.</blockquote>
You and a lot of other potential buyers have asked that very questions. The only way to get inside of the bank to the decision maker/asset manager is if you know someone high up or you gotta come in with a bunch of cash and be willing to buy up a portfolio of REO properties. It's a blackhole at these banks and even the people who work at the banks aren't sure who hands what property. Believe me, if there was an easy way of doing there would be a lot of people trying to buy directly from the bank before the home hit MLS.
 
Was looking though ForeclosureRadar.com today, here is the count (all types of QH properties): 4 bank owned, 19 scheduled for auction, and 17 preforeclosures.
 
Any chance you can dig up that kind of information for Portola Springs as well? We're waiting for either of these communities to come under 1M before taking any of them seriously.
 
[quote author="marbro67" date=1254033453]Any chance you can dig up that kind of information for Portola Springs as well? We're waiting for either of these communities to come under 1M before taking any of them seriously.</blockquote>
IR2's site, <a href="http://www.irvinerealtorsite.com">http://www.irvinerealtorsite.com</a> allows you to look at foreclosures for a given area.



Click on the Foreclosure Search link on his website and it will give you some idea of what the 90+ days distressed properties look like in a particular place. It doesn't give you the exact address of the properties but it gives you a good idea of what's going blue/green/red.
 
[quote author="irvine_home_owner" date=1254040477][quote author="marbro67" date=1254033453]Any chance you can dig up that kind of information for Portola Springs as well? We're waiting for either of these communities to come under 1M before taking any of them seriously.</blockquote>
IR2's site, <a href="http://www.irvinerealtorsite.com">http://www.irvinerealtorsite.com</a> allows you to look at foreclosures for a given area.



Click on the Foreclosure Search link on his website and it will give you some idea of what the 90+ days distressed properties look like in a particular place. It doesn't give you the exact address of the properties but it gives you a good idea of what's going blue/green/red.</blockquote>


I find this site to differ from foreclosureradar.com and google foreclosures.
 
[quote author="irvine_home_owner" date=1254657039]Well... I think it's linked to foreclosureradar.com but maybe it's delayed. The last time I checked, it seemed pretty accurate on current data.</blockquote>




Not really. Try searching for Irvine, CA 92603 and look at Quail Hill.



You'll see your site shows only the one on Luminous for



Bank Owned

Auction

Preforeclosure





while foreclosure radar shows a lot more and they've it's been like that for at least 4 weeks.
 
Are you leaving the options blank? When you fill in the br/ba fields, it throws off your search because if you look at the detail list, many of the properties are listed as 0/0.



This is what I get:



<img src="http://i35.tinypic.com/110akaf.jpg" alt="" />



But again, it may be outdated. However it does say "Powered by ForeclosureRadar" on the bottom.
 
So it seems accurate on the Bank Owned and some of the Auctions, but not the Preforeclosures. I also found that clicking the Next button changed what showed on the map, so there may be something different about the IR2 app that's not totally in sync with what's current on FR.



But then again... that's what the other members on IHB are for... to give you the RGBs. However, some people don't think FR is accurate anyways... so it's all pointless... there is no shadow inventory.



P.S. When did frank69m get access to FR? Wasn't he the one who was always asking other people to post that data?
 
[quote author="irvine_home_owner" date=1254698203]

P.S. When did frank69m get access to FR? Wasn't he the one who was always asking other people to post that data?</blockquote>


Wasn't me. I think I've only asked once or twice.



And, it was graphix who encouraged me to look for Auctions and pre-foreclosures.



Still looking in Irvine...
 
[quote author="frank69m" date=1254997267][quote author="irvine_home_owner" date=1254698203]

P.S. When did frank69m get access to FR? Wasn't he the one who was always asking other people to post that data?</blockquote>


Wasn't me. I think I've only asked once or twice.

</blockquote>
Heh... I guess I was talking about this thread where you thought FR was expensive:



<a href="http://www.irvinehousingblog.com/forums/viewthread/4321/">http://www.irvinehousingblog.com/forums/viewthread/4321/</a>



Since you are now using it, is it worth the monthly?
 
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