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jpinpb
Posts:4533
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| 03/25/2008 2:42 PM |
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This is public record. I know some of you are interested in PB. Here's some info of what's going down:
04/01/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 2138 Garnet Ave 4, San Diego Ca 92109-3666. Details
Sold by First AmerLnstar 619/590-1221
Total Outstanding Dept ~ $309,791.00
Re-Instatement Amount: $8,058.00
Original Loan: $296,250.00, Loan FileNo#:0759169, TS File#:08-0125708 Trustee#:20079070804284.
10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 1412 Graham St, San Diego Ca 92109-5801. Details
Sold by CA Reconvync 714/259-7850
Total Outstanding Dept ~ $617,598.00
Re-Instatement Amount: $15,981.00
Original Loan: $582,000.00, Loan FileNo#:0759643, TS File#:08-0129269 Trustee#:423244CA.
10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 1816 Grand Ave, San Diego Ca 92109-4503. Details
Sold by Regional Svc 714/259-7850
Total Outstanding Dept ~ $521,571.00
Re-Instatement Amount: $16,086.00
Original Loan: $496,400.00, Loan FileNo#:0761103, TS File#:08-0132007 Trustee#:05-FMS-51759.
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Drew35
Posts:20
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| 03/25/2008 8:16 PM |
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| So what is the property at 1816 Grand being offered at??? or what is the bid???? I am not too familiar with this process. |
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jpinpb
Posts:4533
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| 03/27/2008 8:41 AM |
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10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 4859 BELLA PACIFIC ROW 229, SAN DIEGO CA 92109-2387. Details
Sold by ReconTrust Co 626/927-4399
Total Outstanding Dept ~ $351,785.00
Re-Instatement Amount: $21,152.00
Original Loan: $341,600.00, Loan FileNo#:0777368, TS File#:08-0150236 Trustee#:07-60672.
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jeff
Posts:36
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| 03/27/2008 9:39 AM |
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| The bids usually start at what is owed on the property, so the 1816 Grand one would most likely start at $521k. This is why so many get returned to the bank. |
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jpinpb
Posts:4533
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| 03/27/2008 10:07 AM |
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| Sometimes you can find a deal. I don't think any of these are necessarily. I wanted folks to know about them, keep an eye for them. They will probably be back for sale by the bank, I would think for less. |
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jpinpb
Posts:4533
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| 04/04/2008 5:05 PM |
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UPCOMING TRUST SALES:
04/08/2008
10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 4859 BELLA PACIFIC ROW 229, SAN DIEGO CA 92109-2387. Details
Sold by ReconTrust Co 626/927-4399
Total Outstanding Dept ~ $351,785.00
Re-Instatement Amount: $21,152.00
Original Loan: $341,600.00, Loan FileNo#:0777368, TS File#:08-0150236 Trustee#:07-60672.
04/10/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 4987 Lamont St, San Diego Ca 92109-1405. Details
Sold by NDEx West 714/573-1965
Total Outstanding Dept ~ $801,488.00
Re-Instatement Amount: $23,830.00
Original Loan: $765,000.00, Loan FileNo#:0780396, TS File#:08-0155896 Trustee#:20070134012691.
04/21/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 735 Verona Ct, San Diego Ca 92109-6926. Details
Sold by Financial Default 415/263-4300
Total Outstanding Dept ~ $646,620.00
Re-Instatement Amount: $13,572.00
Original Loan: $612,000.00, Loan FileNo#:0800651, TS File#:08-0156355 Trustee#:07-00940-3.
04/23/2008
10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 1516 Missouri St 1, San Diego Ca 92109-3053. Details
Sold by Exec Trustee 714/259-7850
Total Outstanding Dept ~ $567,965.00
Re-Instatement Amount: $12,770.00
Original Loan: $506,250.00, Loan FileNo#:0788509, TS File#:08-0166114 Trustee#:GM-125082-C.
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hpdrifter
Posts:15
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| 04/04/2008 5:50 PM |
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Drew35-One thing to remember is that purchasing at a courthouse auction means you're buying them for all-cash, 'as-is' with no contingency period for inspections. You really have to know what you're doing.
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jpinpb
Posts:4533
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| 04/04/2008 5:53 PM |
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| I think most of these are going back to the bank. We will see these places in the MLS again as REOs. |
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Betty
Posts:148
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| 04/04/2008 7:22 PM |
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I think so too. They're way overpriced for today's market. Perhaps the banks will then realize that
your average potential buyer isn't stupid. |
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jpinpb
Posts:4533
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| 04/04/2008 7:30 PM |
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| Banks have been reducing quite a bit. They have a lot of inventory and slowly releasing it to the market. As on Sapphire, pricing low and getting bidding wars from people who are tired of waiting. But eventually they will deluge the market b/c they will have too many houses to get rid of. See other story/thread http://www.sdlookup.com/Forums/General/tabid/57/forumid/270/tpage/1/view/topic/postid/18422/Default.aspx#18422 |
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jpinpb
Posts:4533
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| 04/18/2008 7:05 PM |
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04/24/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 5035 San Aquario Dr, San Diego Ca 92109-1509. Details
Sold by First AmerLnstar 619/590-1221
Total Outstanding Dept ~ $1,018,560.00
Re-Instatement Amount: $27,916.00
Original Loan: $975,000.00, Loan FileNo#:0002408, TS File#:08-0180958 Trustee#:20079070804800.
04/28/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 4116 Haines St 4, San Diego Ca 92109-5363. Details
Sold by NDEx West 71/4573-1965
Total Outstanding Dept ~ $559,728.00
Re-Instatement Amount: $10,493.00
Original Loan: $544,000.00, Loan FileNo#:0004797, TS File#:08-0189269 Trustee#:20080134000139.
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 1844 Law St, San Diego Ca 92109-2232. Details
Sold by NDEx West 714/573-1965
Total Outstanding Dept ~ $967,499.00
Re-Instatement Amount: $19,624.00
Original Loan: $910,000.00, Loan FileNo#:0004796, TS File#:08-0189270 Trustee#:20080134000115.
04/29/2008
10:00 am
by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
Property at 743-47 Emerald St, San Diego Ca 92109-2405. Details
Sold by Trustee Corp 714/573-1965
Total Outstanding Dept ~ $1,512,173.00
Re-Instatement Amount: $1,445,730.00
Original Loan: $1,328,409.00, Loan FileNo#:0800086, TS File#:08-0186566 Trustee#:CA0215323.
10:00 am
at Broadway entr Cty Courthouse,220 W. Broadway,San Diego
Property at 3850-52 Mission Blvd, San Diego Ca 92109-7056. Details
Sold by CR Title Serv 714/259-7850
Total Outstanding Dept ~ $688,216.00
Re-Instatement Amount: $21,292.00
Original Loan: $625,000.00, Loan FileNo#:0006583, TS File#:08-0192264 Trustee#:20347.
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ElPato
Posts:573
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| 04/19/2008 9:11 AM |
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I went by 743-47 Emerald St (see pics). It was a commercial building that someone chopped up. There are 3 condos up front and some commerical space in back. Right next to the Bare Back bar. It is pretty ugly, likely noisy, and completely uninhabited.
3850-52 Mission Blvd is Bay View Villas, I think. Right next to Hub Liquor.
It's interesting to see multiple units going into foreclosure. This is a sign developers have overbuilt and are getting pulled under. More REO for us in the future... |
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ElPato
Posts:573
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| 04/19/2008 9:12 AM |
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| Oops, looks like there are 4 condos, not 3. |
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jpinpb
Posts:4533
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| 04/19/2008 10:00 AM |
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| This is VERY suprising. I didn't realize it was an Ocean Pacific Property. Those people have been going on a rampage raping MB w/their extremely overpriced developments. Well, there you go. Some developers, even if they're not as big as Baldwin or Pardee, some developers can overestimate the health of the market and bite off a little more than they can chew. |
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ElPato
Posts:573
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| 04/19/2008 10:15 AM |
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jpinpb, I agree about Ocean Pacific Properties. They have put up WAY TOO MUCH high end stuff. In fact, they are STILL BUILDING all over MB.
It looks to me like they are right on the edge of implosion. That will make quite a mess if they go under.
Patience all. By Thanksgiving, things will look a lot different than they do now. I plan to start lowballing REOs around then, trolling for cash desperate banks. |
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jpinpb
Posts:4533
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| 04/19/2008 10:19 AM |
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I did some more checking on this gem. It doesn't say OPP is the one defaulting on the loan, unless they have different names, Impero Development. This is the detail on the foreclosure:
Loan File No: 1001634
Date Recorded: 12/31/07
File No: 0800086
Trustee No: CA0215323
Loan Date: 11/18/05
Loan No:
Trustee : Trustee Corp 714/573-1965
Beneficary : MKA Real Estate c/o 2112 Business Center Dr,2nd Fl,#201,Irvine, CA 92612
Original Loan : $1,328,409.00
Default In.. : P&I 05/15/2007
Reinstate Date: 12/26/07
Reinstate Amount: $1,445,730.00
Land Value: $1,122,000.00
Improvment Value: $170,646.00
Parcle No: 415-582-02-00
Legal Code: N 62 1/2 Ft Lots 15 & 16 & S 62 1/2 Ft Lots 15 & 16 Blk 192
Site Address: 743-47 Emerald St, San Diego Ca 92109-2405
Sale Date: 04/29/08
Sale Time: 10:00 am
Sale Location: by the statue at entr E Cty Regional Ctr,250 E Main,El Cajon
TMap: 1247-h6
Deed No: 11/18/2005 1001633
SqFt: 3680
No Bedrooms:
No Baths:
Zone: R-6
Year Built: 1948
Name: Impero Development L L C
Address: 745 Emerald St San Diego Ca 92109
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ElPato
Posts:573
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| 04/19/2008 10:44 AM |
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Here's another pic - it was off the window. Looks like a pretty tangled web of cross-ownership.
I'd guess when one part of it blows up, the rest will go with it. Time will tell...
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ElPato
Posts:573
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| 04/19/2008 10:46 AM |
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| And I just noticed there is a background image of El Pato in this photo. Dick Cheney, eat your heart out. |
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jpinpb
Posts:4533
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| 04/19/2008 10:47 AM |
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| Pato, thanks for posting the photos/info. Quite an interesting mess. |
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Brian
Posts:4656
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| 04/19/2008 10:53 AM |
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Thanks for the updates on PB. I don't follow that market but I've become more knowledgeable thanks to you guys.
Who knows, maybe I'll move to the beach and rent (of course) one of those brand new places.
El Pato, I love pics... but you might consider right-sizing them before posting. |
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