Showing posts with label active Rain. Show all posts
Showing posts with label active Rain. Show all posts

Saturday, March 13, 2010

Homes in 16 Orange County cities get foreclosure dates

Every week, homes throughout Orange County go to foreclosure auctions. The owners can be millions of dollars in debt, foreclosedhomesmediumor owe just a few thousand.

Often these homes revert to the lenders, who eventually put them back on the market. Sometimes the homes are bought by investors and resold.

Foreclosures affect more than the homeowners involved. They can impact entire neighborhoods. At the very least, they can affect nearby home sales.

All of these homes and addresses have been listed in the public notices, as required by law.

For auction info, click on city:


widget-lansner-text-messageRead more:

How foreclosure auctions work

Trustee, trustor … what’s the difference? Click here for foreclosure terms and definitions

Top tips for buying investment properties

Posted via web from The Newport Beach Lifestyle

Wednesday, March 10, 2010

Unfinished O.C. condos sell for $27 million

March 10th, 2010, 12:01 am by Jeff Collins

The idled Lofts at Von Karman recently went into receivership. The receiver hopes to resume construction and sales.

The idled Lofts at Von Karman last April. The project sold recently, has been renamed DuPont Lofts and will reopen as apartments.

A year ago, the Lofts at Von Karman stood unfinished, an Irvine condo project that ran out of money before developers could get it to a market in which sales were sinking.

But now, the project is on the verge of being reborn — as apartments.

Essex Property Trust, a Palo Alto apartment investor with more than 27,000 units in Orange County and elsewhere along the West Coast, recently purchased the 115-unit condominium development at Von Karman Avenue and DuPont Drive and plans to finish construction, then reopen the project as rentals.

The real estate investment trust paid $27 million, said Jeff Rowerdink, Essex’s Irvine-based first vice president of acquisitions. He said it will cost the company $5.8 million to complete construction. Essex’s final cost will amount to about 55% of the project’s total construction costs, he said.

Essex closed escrow last week on Skyline at MacArthur Place, twin 25-story condo towers next to the 55 freeway, and is “aggressively searching out additional deals like this,” Rowerdink said.

The project at Von Karman, since renamed DuPont Lofts, was one of several stalled developments featured in a report last April about the proliferation of land consultants seeking to advise troubled developers. Read the rest of this entry »


Posted via web from The Newport Beach Lifestyle

HVAC boot cleared of Asbestos in Los Angeles