Archive for the 'Foreclosure Activity' Category
Current Foreclosures in Irvine & Surrounding Cities in South Orange County, CA
5 Comments Published by January 13th, 2009 in Foreclosure Activity, Foreclosures, REOs (Bank-Owned, Foreclosed Properties). bySince many buyers looking for real estate these days seem interested in bank foreclosures/REOs/real estate owned properties, I thought I would make it a little bit easier for the folks out there to find these properties.
Below is a current list of foreclosures in the city of Irvine and surrounding cities in south Orange County.
If you would like a updated list of bank owned properties that are not included on this list, please contact me, and I will send it along to you.
It’s a Seller’s Market if the Home is an REO (Bank Owned) Property
16 Comments Published by October 27th, 2008 in Buyer Advice, Foreclosure Activity, Foreclosures, Irvine CA real estate, Personal Insights, REO Bank Owned Properties, REOs (Bank-Owned, Foreclosed Properties). by
Photo courtesy of The Truth About Mortgage
With the financial markets in turmoil, and with the luster lost in the real estate market, one wonders where the savvy buyer/investor is placing his/her dollars. If you remove gold bullion, and/or stashing your money under the mattress from the safe haven equation, I would say that the REO (real estate or bank-owned) market is currently vying for the home buyer’s/investor’s cash.
I’ve been tracking the REO market here in Irvine for my buyers and sellers. Buyers want to know that if they decide to purchase a home now that their investment is protected from a further market decline. They feel that if they focus on foreclosed properties, then they have, to some extent, a built-in cushion just in case the real estate market experiences further declines. Whether or not this perception proves to be true is still debatable. However, this is the buyer’s/investor’s view of the current state of the real estate market. (more…)
What Does a Member of Congress and a former Major League Baseball Player Have in Common?
1 Comment Published by May 27th, 2008 in 100% Financing, Celebrity REOs, Foreclosure Activity, Personal Insights, Trustee Sale. byAnswer: Both of them have had their homes foreclosed upon.
Jose Conseco, a former American League MVP, in remarks made on the TV show “Inside Edition”, said that he “walked away from his $2.5 Million Encino home “because it didn’t make financial sense for me to keep paying a mortgage on a home that was basically owned by someone else.” Didn’t make sense to pay his mortgage (hmm) on a home that was basically owned by someone else (Who would that have been? Maybe the bank that lent him the mortgage?).
Meanwhile, USA Today reported that “The credit crunch is hitting the halls of Congress, with reports from California that a member of the House lost her house in foreclosure earlier this month.” Congresswoman Laura Richardson had her home foreclosed upon as a result of borrowing $60,000 out of it for her congressional campaign. She had initially taken out a loan out on her three bedroom home in Sacramento 17 months ago for $535,000 (100% financing), and then borrowed an additional sum bringing the indebtedness to $578,000 when a “Notice of Trustee’s Sale” was published in March of this year. Richardson who earns $169,300 a year as a congresswoman was also reportedly behind on her taxes by almost $9,000. “Washington Mutual ended up writing off nearly $200,000 of that debt to get rid of the home,” according to the Press-Telegram.
What ever happened to the notion of noblesse oblige? The idea of living up to your obligations? If our elected politicians and sports celebrities can walk, then I can certainly balk, or at least blog about it.
