usctrojanman29_IHB
New member
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.irvine_home_owner said:
Quail Hill mid-high end foreclosures
- Thread starter irvine_home_owner_IHB
- Start date
NEW -> Contingent Buyer Assistance Program
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"
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
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.
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.
I hate them too, but I hate the system for making it possible to do that.
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!
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.
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.
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:
Foreclosures
Something about those dots going from green to blue (auction) to red.
They should have a black with white in the middle dot.
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.
earthbm_IHB
New member
irvine_home_owner said:
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"
earthbm_IHB
New member
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.
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.
GavriloPrincip_IHB
New member
earthbm said:
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
Gohabsgo_IHB
New member
earthbm said:
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.
freedomCM_IHB
New member
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?
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?
irvine_home_owner_IHB
New member
Someone want to loan me $848k? Or maybe $900k in case frank69m shows up.GavriloPrincip said:
usctrojanman29_IHB
New member
That may not necessarily be the openning bid amount...could be higher or lower.irvine_home_owner said:
frank69m_IHB
New member
irvine_home_owner said:
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.
Gohabsgo_IHB
New member
frank69m said:
I hate them too, but I hate the system for making it possible to do that.
frank69m_IHB
New member
Roo said:
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!
Gohabsgo_IHB
New member
frank69m said:
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.
freedomCM_IHB
New member
frank69m said:
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.
graphrix_IHB
New member
149 Treehouse went back to the bank today for $948,433.26, less than the 2004 purchase price of $967,500. Ouch! And so it begins...
irvine_home_owner_IHB
New member
Even at $950k... this is too high for this house.
ABC123_IHB
New member
and so what begins?
graphrix_IHB
New member
frank69m_IHB
New member
graphrix said:
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:
Foreclosures
irvine_home_owner_IHB
New member
If it was slated for auction... I don't think it's "bank-owned" yet.frank69m said:
Something about those dots going from green to blue (auction) to red.
They should have a black with white in the middle dot.
graphrix_IHB
New member
frank69m said:
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.