Is it only the blogs that noticed a huge spike in interest rates over the last couple of weeks?
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Property type: Detached SFR
Square footage: 3000 square feet or more
Bedrooms: 4 or more
Bathrooms: 3 or more
Preferred enclaves in preference order: (1) Turtle Ridge, (2) Quail Hill, (3) Turtle Rock, or (4) Woodbridge
Specifications: (1) View or extremely well landscaped yard (similar to 111 Nighthawk), (2) Move-in ready, and (3) Plenty of natural light.
Price: 1.5 million or below—buyer is willing to pay fair market value based upon comparable properties
Sample properties: 1) 30 Canyon Terrace 2) 37 Tall Hedge 3) 37 Hedgerow 4) 111 Nighthawk
If you have a property meeting these specifications you would like to sell, please contact Shevy Akason at Evergreen Realty shevy.akason@evergreenrealty.net (949) 769.1599
(This is a compensated post)
I am always amazed at the asking prices in Turtle Ridge. There are REOs and defaults everywhere and prices rolling back under $1,000,000 on high end properties, and yet there are owners like today’s who think their properties have appreciated 40% since they bought at the peak in 2006. WTF?
Asking Price: $2,688,000
Address: 28 Woods Trail, Irvine, CA 92603
BTW, Kelli Hart has an interesting post at South Coast Homes on the house in San Clemente falling off a cliff, and Matt Padilla has a great post on the impact of HELOC abuse on the foreclosure market. Check them out.
Read the rest of this entry »Properties take a long time from the initial financial stress of the owner through foreclosure and on to sale in the open market. Today’s featured property is nearly two years into its journey.
Asking Price: $519,900
Address: 75 Burlingame, Irvine, CA 92602
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Many analysts have noted that lenders are often better off doing a loan modification with principal reduction than going through the foreclosure process. Despite this fact, lenders would rather foreclose and lose more money than do any kind of principal reduction. Why is that?
Asking Price: $692,800
Address: 33 Canopy, Irvine, CA 92603
Read the rest of this entry »Due to the foreclosure moratoria, overwhelmed REO departments and a reluctance to take losses on bad loans, the foreclosure and disposition process is taking much longer than it should. In the interim, homedebtors facing foreclosures get to live rent-free in $1,000,000 properties.
Asking Price: $995,000
Address: 25 Rose Trellis, Irvine, CA 92603
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Most homebuyers underestimate how much cash they really need to purchase a house. Back when houses provided money, this was less of a problem than it is today.
Asking Price: $930,000
Address: 75 Trailwood, Irvine, CA 92620
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