- This topic has 10 replies, 7 voices, and was last updated 16 years, 11 months ago by
XBoxBoy.
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September 16, 2007 at 7:40 PM #10307September 17, 2007 at 4:15 AM #84787
Ex-SD
ParticipantThere must be some misinformation concerning the prior sale. With that view and size of the home, that IS a $6 million dollar home in La Jolla.
September 17, 2007 at 7:06 AM #84788Artifact
ParticipantThe link shows it as a foreclosure (except of course those CAN’t happen in La Jolla!) so that might be the foreclosure amount – that still seems to make it strange if the house appraised at 6 and foreclosed for 1.5 – someone with that much equity should have been able to refinance?
T
September 17, 2007 at 10:30 AM #84816NotCranky
ParticipantProbably a junior loan foreclosed and that lender is carrying the house.
September 17, 2007 at 11:55 AM #84827one_muggle
ParticipantProbably a junior loan foreclosed and that lender is carrying the house.
I’m no foreclosure expert, but I have seen a couple of these in the LA area, with houses foreclosing at numbers as low as $25k. However, I thought the second loan was subordinate and could not foreclose while the primary loan was holding the note…
Unless some newbie mortgage person screwed up, then I would say they would soon get fired, but they’ve probably already been laid off.September 17, 2007 at 12:50 PM #84841r271828
ParticipantAs I recall, this house has been on (and off) the market for quite a long time, most recently for ~59 days at an asking price of $4,500,000 – MLS #076058095. So an “estimated value” of $6,500,000 as given on the auction web site seems like a bit of a stretch, to say the least.
December 19, 2007 at 10:34 PM #121214XBoxBoy
ParticipantLooks like the bank didn’t get anywhere near the $5,500,000 that was listed as the estimated value in the auction flyer. Matter of fact, looks like they only got $3,300,000
http://www.sdlookup.com/Property-8727EF8D-1702_Valdes_Dr_La_Jolla_CA_92037
I don’t think this was an auction sale, but a sale after the auction, but not sure about that.
Does anyone with access to the loan databases know how much the banks ate on this one?
XBoxBoy
December 19, 2007 at 10:34 PM #121355ParticipantLooks like the bank didn’t get anywhere near the $5,500,000 that was listed as the estimated value in the auction flyer. Matter of fact, looks like they only got $3,300,000
http://www.sdlookup.com/Property-8727EF8D-1702_Valdes_Dr_La_Jolla_CA_92037
I don’t think this was an auction sale, but a sale after the auction, but not sure about that.
Does anyone with access to the loan databases know how much the banks ate on this one?
XBoxBoy
December 19, 2007 at 10:34 PM #121382ParticipantLooks like the bank didn’t get anywhere near the $5,500,000 that was listed as the estimated value in the auction flyer. Matter of fact, looks like they only got $3,300,000
http://www.sdlookup.com/Property-8727EF8D-1702_Valdes_Dr_La_Jolla_CA_92037
I don’t think this was an auction sale, but a sale after the auction, but not sure about that.
Does anyone with access to the loan databases know how much the banks ate on this one?
XBoxBoy
December 19, 2007 at 10:34 PM #121434ParticipantLooks like the bank didn’t get anywhere near the $5,500,000 that was listed as the estimated value in the auction flyer. Matter of fact, looks like they only got $3,300,000
http://www.sdlookup.com/Property-8727EF8D-1702_Valdes_Dr_La_Jolla_CA_92037
I don’t think this was an auction sale, but a sale after the auction, but not sure about that.
Does anyone with access to the loan databases know how much the banks ate on this one?
XBoxBoy
December 19, 2007 at 10:34 PM #121455ParticipantLooks like the bank didn’t get anywhere near the $5,500,000 that was listed as the estimated value in the auction flyer. Matter of fact, looks like they only got $3,300,000
http://www.sdlookup.com/Property-8727EF8D-1702_Valdes_Dr_La_Jolla_CA_92037
I don’t think this was an auction sale, but a sale after the auction, but not sure about that.
Does anyone with access to the loan databases know how much the banks ate on this one?
XBoxBoy
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