two more properties in the

[ocrenter]

two more properties in the same community coming on line for foreclosure.

xx4 Via Del Caballo (2358sqft)
purchase price $446,000 3/04 (zero down)
purchase price $585,000 9/04 (zero down)

xx7 Camino Verde (2172 sqft)
purchase price $364,500 12/02
HELOC $70,000 9/03
refinance $448,000 9/05

so that’s 4 properties either just gone thru auction or just received their NOD in 1 small gated community. and on top of these there are 14 homes for sale. There’s at least one other property in the pipeline for foreclosure. In 4-6 months there will be at least 5 REO’s in this property. serious price drops will have to be necessary at that time.