I really like these Latitudes at Vantis condos. Does anyone have any information on this development? It seems that it has entire wings that are completely vacant, and tons of inventory.

The floorplans and amenities in this section of Aliso are really nice, but 400-500K for a 2 bedroom condo? That’s still 2006 peak prices. 300K seems more reasonable, especially considering nobody is buying here. (There seems to be alot more homes bought in the City Walk - work/live area though).

At least it’s not as bad as the Central Park West (Irvine) 500K 1 bedroom disaster. (Is project cancelled? I see alot of window dressing on the exterior of some of the buildings there).

http://www.sheahomes.com/main.cfm?dir=findahome&subsec=overview&temp=communityoverview&communityid=401

Hey guys, I have a friend who might buy in the Canyon Villas.  Prices there have fallen quite a bit.  There are some approved short sales for around 300k and one short sale for 285k.  These are two bed/2 bath.  What do you guys think of these.  Good price? The sq. ft is about 1145.  He wanted to wait till the end of the year but he currently lives in a bad area of santa ana. This past Saturday there was actually a shooting right across the street from the house he was renting.  Should he offer the full price on the short sales or offer less.  Lets say 280k.  Think the bank will take it?  I tried talking him into renting in a better area but he says he is tired of renting.  His annual income is about 80k.

Just wanted to give everyone an update.  My friend put in a low ball offer of 270k.  I visited this place with him and it is very nice.  His payments didn’t look to bad.  He is putting down 10%. Not sure how much the mello roos are and i think the HOA is about 250.

Future Buyer - 10 April 2009 03:00 AM

Just wanted to give everyone an update.  My friend put in a low ball offer of 270k.  I visited this place with him and it is very nice.  His payments didn’t look to bad.  He is putting down 10%. Not sure how much the mello roos are and i think the HOA is about 250.

Was his $270k low ball offer accepted?

I would stay away - at least if your friend is hoping to trade up any time soon. That’s a bubble-era condo conversion gone bad. There are MANY foreclosures there.

I still say short sales are mostly fictional, especially the pricing.  The bank won’t approve an offer at asking on most short sales, let alone below asking.  Look at an REO nearby, and offer what they are charging, even if it’s above asking.  Of course, if you can do that, it’s a lot quicker and easier to simply by the REO itself.

Future Buyer - 08 April 2009 02:53 AM

Hey guys, I have a friend who might buy in the Canyon Villas.  Prices there have fallen quite a bit.  There are some approved short sales for around 300k and one short sale for 285k.  These are two bed/2 bath.  What do you guys think of these.  Good price? The sq. ft is about 1145.  He wanted to wait till the end of the year but he currently lives in a bad area of santa ana. This past Saturday there was actually a shooting right across the street from the house he was renting.  Should he offer the full price on the short sales or offer less.  Lets say 280k.  Think the bank will take it?  I tried talking him into renting in a better area but he says he is tired of renting.  His annual income is about 80k.

What’s the status?

“Enjoy the Resort-Like Lifestyle!” says the realtard on #29H.  Is that because it’s right next door to the “Islands” tract?  Yuck.

Even at $270k the numbers don’t work out and there’s no reason at all to believe they won’t continue to slide.  You can find 2/2’s in there for under $1750/month no problem.  CV is not all that impressive and the 1145sqft units should not be commanding a $276/sqft average.  It’s just a huge converted apartment complex with a lot of units and guest parking is not enforced.  The gates are just a nuisance but were put in to keep the AVLNHS riff-raff out (and you should see the HS traffic in the morning on whatever that street is off Pacific Park).  A buddy of mine lives there and curses the trees with yellow pollen that cover his car constantly. However, there appears to be a decent workout center, it’s close to the 73, 8min’s from the 5, close to Town Center, and close to the trails.  Not necessarily a bad place to live, just not worth the price when you can still rent it out for a couple hundy less.  Check rents at Applause or Windflower; they have better floor plans, less density, and easier street access.

Lived in Canyon Villas for a year and I can confirm everything AVRenter just said. The tree sap will F up your paint and guest parking is HORRIBLE. Obviously, every place has it’s ups and downs. However, Canyon Villas has been struggling since the beginning of the conversion. They started renting unsold units out last year. My sister-in-law purchased a place during one of their auctions in late 2007 for $395k. 2&2 on the 3rd floor. They’d be lucky to get $300k now. I’ve gotta believe with the competition for condo’s in AV, those prices are going to continue to fall. Also, while we’re on the topic of AV, the Shea Properties City Lights’ development is struggling mightily. They’ve discounted rents a ton and are doing tons of promos to try and fill the place.

My friend decided not to purchase there or anywhere else for the moment.  Once I showed him the chart of the ALT-A/Option Arm loans that are about to reset and the amount of short sales/foreclosures at canyon villas he was convinced that it is not worth the risk or the current asking prices.  Not sure where he will be moving to though.  What do you guys think will be a reasonable price for these condos?

We’re looking at some houses in Pacific Ridge. Its near Aliso Creek and Glenwood. Right across from Laguna Audubon. We do like a couple of floor plans there. Anyone got any opinion about those houses?

Nice houses, sizeable mello roos, no real association amenities (pool, tennis courts, etc) although a ‘city’ central amenity area is being developed.
I was looking that way for a while and it is not bad but there is barely anything available and people overbid for what is left.  I believe there were a lot of option arms used in that city and the day of reckoning for option arms will begin 1st quarter of 2010 through the end of 2011 so I have a feeling that prices on the nicer houses may have more to drop.  But I could also be way off base. 
When I was looking there last year, regular sellers wanted too much and scoffed at my offers.  I checked the tax records a month ago and every single one of them ended up selling for 20K-60K less than what I offered which was 50K-80K less than their asking already.  That made me smile except for one home that I really, really wanted bad but the seller was not being a good negotiator.  He had the “take my price or leave it” attitude.  I guess it cost him $20K less than what I offered which was $45K less than what he was asking (sold for $65K less than his asking (20K+45K)).  Now I look up valuations for that neighborhood and they are $35K less than what he sold at so he still did better than if he waited to sell this year.

has anyone been back to harbor station at glenwood? is demand for this place still there? i’m referring to the 3 bed/2 bath townhouses…

Have not been paying much attention to Aliso Viejo lately since have found myself very happy with my current neighborhood in Irvine.  But unfortunately the stubborn prices in Irvine are at least $100k more than I want to pay, and I’m not convinced Irvine prices will be where we need them on our timetable.

And then I see something like this in AV:

38 Beech Dr

Gawd, this is EXACTLY what I am looking for, at EXACTLY the price I want to pay.  And it is a mile closer to my office at the Spectrum than from West Irvine.  Does anyone in AV have any feedback on this neighborhood?  I’m vaguely familiar with the area as we have been to Scooter’s Jungle and the ice rink several times (which appear to be right around the corner)——but if anyone has any more specfic feedback on this area (school, etc) I’d be interested.  I’d have to put together a really good case to pry Ms. CK out of the friendly confines of Irvine….

Can’t help you much with the school info and the such. I’ve never really heard a bad thing about the school’s in Aliso though…

I saw that same property as well. Nice kitchen, floors, etc… They definitely priced this property more in-line with the true sales prices. I still think this kind of property ends up going for around $480k, but probably not for another year +. Right now, it’s a good deal compared to the other lunatic listings.

CK - 06 August 2009 04:50 PM

Have not been paying much attention to Aliso Viejo lately since have found myself very happy with my current neighborhood in Irvine.  But unfortunately the stubborn prices in Irvine are at least $100k more than I want to pay, and I’m not convinced Irvine prices will be where we need them on our timetable.

And then I see something like this in AV:

38 Beech Dr

Gawd, this is EXACTLY what I am looking for, at EXACTLY the price I want to pay.  And it is a mile closer to my office at the Spectrum than from West Irvine.  Does anyone in AV have any feedback on this neighborhood?  I’m vaguely familiar with the area as we have been to Scooter’s Jungle and the ice rink several times (which appear to be right around the corner)——but if anyone has any more specfic feedback on this area (school, etc) I’d be interested.  I’d have to put together a really good case to pry Ms. CK out of the friendly confines of Irvine….

Although it doesn’t say it is a short sale on Redfin, it is. The $640k first has an additional $51k in back payments, interest, and fees according to the NOD that was filed in June. And… that doesn’t include the $160k second. Ahhh… good ole 2005, when 100% stated financing was the goal to homedebtorship. 35 Beech also has a NOD filed on it, but the loan situation there is kinda wacky. 9 Chestnut, 7 and 23 Poplar have NODs too. Chestnut is the only one not underwater, yet.

Not trying to rain on your parade CK, but thought the info might be of use to you. Call up Deuce to go check it out. If you like the hood there, then this would be a nice house for you and your fam at that price. If you do move there, you will wonder why the beer doesn’t disappear as fast.

graphrix - 06 August 2009 10:38 PM

Although it doesn’t say it is a short sale on Redfin, it is. The $640k first has an additional $51k in back payments, interest, and fees according to the NOD that was filed in June. And… that doesn’t include the $160k second. Ahhh… good ole 2005, when 100% stated financing was the goal to homedebtorship. 35 Beech also has a NOD filed on it, but the loan situation there is kinda wacky. 9 Chestnut, 7 and 23 Poplar have NODs too. Chestnut is the only one not underwater, yet.

Not trying to rain on your parade CK, but thought the info might be of use to you. Call up Deuce to go check it out. If you like the hood there, then this would be a nice house for you and your fam at that price. If you do move there, you will wonder why the beer doesn’t disappear as fast.

Appreciate it, Graph.  Like the old saying goes—- If it sounds too good to be true, it probably is.  I need to stop looking at AV, anyways.  You and I both know I’ll never get that approved.

CK - 07 August 2009 01:43 AM

graphrix - 06 August 2009 10:38 PM

Although it doesn’t say it is a short sale on Redfin, it is. The $640k first has an additional $51k in back payments, interest, and fees according to the NOD that was filed in June. And… that doesn’t include the $160k second. Ahhh… good ole 2005, when 100% stated financing was the goal to homedebtorship. 35 Beech also has a NOD filed on it, but the loan situation there is kinda wacky. 9 Chestnut, 7 and 23 Poplar have NODs too. Chestnut is the only one not underwater, yet.

Not trying to rain on your parade CK, but thought the info might be of use to you. Call up Deuce to go check it out. If you like the hood there, then this would be a nice house for you and your fam at that price. If you do move there, you will wonder why the beer doesn’t disappear as fast.

Appreciate it, Graph.  Like the old saying goes—- If it sounds too good to be true, it probably is.  I need to stop looking at AV, anyways.  You and I both know I’ll never get that approved.

C’mon CK. You and I both know that all your Korean friends who live on your street, your buddies you have a Bulgogi BBQ Block Party every weekend with, will feel betrayed if you move to Aliso Viejo. Stop looking up Aliso Viejo on Redfin. Panda says, “Stop it!”

Bump. Currently looking in AV.

OC Guy - 21 November 2009 12:45 AM

Bump. Currently looking in AV.

and? 

what information do you have to share?

freedomCM - 21 November 2009 02:11 AM

OC Guy - 21 November 2009 12:45 AM

Bump. Currently looking in AV.

and? 

what information do you have to share?

I’ll post back later when I go around to open houses today.