Talega in San Clemente: 10% of homes in repo?

[mydogsarelazy]

A friend of mine says that over 10 percent of the homes in Talega, San Clemente are in foreclosure or are bank-owned.

If you haven’t been to Talega, we are talking about homes that ranged from $800k well into the million five range a year ago.

http://www.talega.com/

Is my friend’s comment accurate? Does anyone know?

JS

[Mean Reversion]

I rented in Talega. I am not surprised in the least. While it is a master planned community close to the beach and beautiful weather, it had little else of substance going for it. Mediocre schools at best and far from most jobs (San Diego or Irvine).

I had heard of many in the neighborhood that were realtors or loan agents. And the SoCal cultural pathology was in full force there (ie. many with Hummers, decked out backyards, and it just felt like everyone was trying to compete to show off that they had more toys, etc).

They still have new homes available there (Standard Pacific, etc). Moreover, many of those homes were sold during 2004-2005. I was frequently surprise by the type of people at the phase releases. For example, for homes in the 900k-1.1M range, I saw quite a few very young couples. I just figured that they had vast amounts of equity or great jobs. Many probably didn’t. As it turns out, it was merely that the banks were just too happy to give them $1m to buy any home they wanted.

Given the above ingredients, again, no surprise.

[Mean Reversion]

I rented in Talega. I am not surprised in the least. While it is a master planned community close to the beach and beautiful weather, it had little else of substance going for it. Mediocre schools at best and far from most jobs (San Diego or Irvine).

I had heard of many in the neighborhood that were realtors or loan agents. And the SoCal cultural pathology was in full force there (ie. many with Hummers, decked out backyards, and it just felt like everyone was trying to compete to show off that they had more toys, etc).

They still have new homes available there (Standard Pacific, etc). Moreover, many of those homes were sold during 2004-2005. I was frequently surprise by the type of people at the phase releases. For example, for homes in the 900k-1.1M range, I saw quite a few very young couples. I just figured that they had vast amounts of equity or great jobs. Many probably didn’t. As it turns out, it was merely that the banks were just too happy to give them $1m to buy any home they wanted.

Given the above ingredients, again, no surprise.

[Mean Reversion]

I rented in Talega. I am not surprised in the least. While it is a master planned community close to the beach and beautiful weather, it had little else of substance going for it. Mediocre schools at best and far from most jobs (San Diego or Irvine).

I had heard of many in the neighborhood that were realtors or loan agents. And the SoCal cultural pathology was in full force there (ie. many with Hummers, decked out backyards, and it just felt like everyone was trying to compete to show off that they had more toys, etc).

They still have new homes available there (Standard Pacific, etc). Moreover, many of those homes were sold during 2004-2005. I was frequently surprise by the type of people at the phase releases. For example, for homes in the 900k-1.1M range, I saw quite a few very young couples. I just figured that they had vast amounts of equity or great jobs. Many probably didn’t. As it turns out, it was merely that the banks were just too happy to give them $1m to buy any home they wanted.

Given the above ingredients, again, no surprise.

[Mean Reversion]

I rented in Talega. I am not surprised in the least. While it is a master planned community close to the beach and beautiful weather, it had little else of substance going for it. Mediocre schools at best and far from most jobs (San Diego or Irvine).

I had heard of many in the neighborhood that were realtors or loan agents. And the SoCal cultural pathology was in full force there (ie. many with Hummers, decked out backyards, and it just felt like everyone was trying to compete to show off that they had more toys, etc).

They still have new homes available there (Standard Pacific, etc). Moreover, many of those homes were sold during 2004-2005. I was frequently surprise by the type of people at the phase releases. For example, for homes in the 900k-1.1M range, I saw quite a few very young couples. I just figured that they had vast amounts of equity or great jobs. Many probably didn’t. As it turns out, it was merely that the banks were just too happy to give them $1m to buy any home they wanted.

Given the above ingredients, again, no surprise.

[Mean Reversion]

I rented in Talega. I am not surprised in the least. While it is a master planned community close to the beach and beautiful weather, it had little else of substance going for it. Mediocre schools at best and far from most jobs (San Diego or Irvine).

I had heard of many in the neighborhood that were realtors or loan agents. And the SoCal cultural pathology was in full force there (ie. many with Hummers, decked out backyards, and it just felt like everyone was trying to compete to show off that they had more toys, etc).

They still have new homes available there (Standard Pacific, etc). Moreover, many of those homes were sold during 2004-2005. I was frequently surprise by the type of people at the phase releases. For example, for homes in the 900k-1.1M range, I saw quite a few very young couples. I just figured that they had vast amounts of equity or great jobs. Many probably didn’t. As it turns out, it was merely that the banks were just too happy to give them $1m to buy any home they wanted.

Given the above ingredients, again, no surprise.

[waitingpatiently]

MR,

My husband and I went to look at Talega in 2004 and fell in love with the development (trails, pool, clubhouse, family feel). Of course we couldn’t afford the million dollar price tag then! Having lived there, what is the actual community of San Clemente like? I have read on other blogs that the area West of the 5 is not the greatest place to be.

Do you mind if I pick your brain about San Clemente? I am torn between South Carlsbad and San Clemente. My husband works from home but with some travel to San Diego and Irvine.

Thanks!

[waitingpatiently]

MR,

My husband and I went to look at Talega in 2004 and fell in love with the development (trails, pool, clubhouse, family feel). Of course we couldn’t afford the million dollar price tag then! Having lived there, what is the actual community of San Clemente like? I have read on other blogs that the area West of the 5 is not the greatest place to be.

Do you mind if I pick your brain about San Clemente? I am torn between South Carlsbad and San Clemente. My husband works from home but with some travel to San Diego and Irvine.

Thanks!

[waitingpatiently]

MR,

My husband and I went to look at Talega in 2004 and fell in love with the development (trails, pool, clubhouse, family feel). Of course we couldn’t afford the million dollar price tag then! Having lived there, what is the actual community of San Clemente like? I have read on other blogs that the area West of the 5 is not the greatest place to be.

Do you mind if I pick your brain about San Clemente? I am torn between South Carlsbad and San Clemente. My husband works from home but with some travel to San Diego and Irvine.

Thanks!

[waitingpatiently]

MR,

My husband and I went to look at Talega in 2004 and fell in love with the development (trails, pool, clubhouse, family feel). Of course we couldn’t afford the million dollar price tag then! Having lived there, what is the actual community of San Clemente like? I have read on other blogs that the area West of the 5 is not the greatest place to be.

Do you mind if I pick your brain about San Clemente? I am torn between South Carlsbad and San Clemente. My husband works from home but with some travel to San Diego and Irvine.

Thanks!

[waitingpatiently]

MR,

My husband and I went to look at Talega in 2004 and fell in love with the development (trails, pool, clubhouse, family feel). Of course we couldn’t afford the million dollar price tag then! Having lived there, what is the actual community of San Clemente like? I have read on other blogs that the area West of the 5 is not the greatest place to be.

Do you mind if I pick your brain about San Clemente? I am torn between South Carlsbad and San Clemente. My husband works from home but with some travel to San Diego and Irvine.

Thanks!

[mydogsarelazy]

Hi WaitingPatiently,

Various relatives of mine have lived in San Clemente since 1970 so I have watched the place grow and change.

On the plus side, Del Mar — the street that runs down to the pier — has some interesting stores and restaurants. I love the pier and there are new walkways along the oceanfront.

The climate is also very good.

I think that living in Talega would mean being a hostage to the 5, and the traffic can be bad northbound. You can of course take the toll road to Fashion Island. I was in San Clemente this weekend, and the weather was superb and the traffic intense.

Of course, tell me a place on Southern Cal where the traffic isn’t that way…

JS

[mydogsarelazy]

Hi WaitingPatiently,

Various relatives of mine have lived in San Clemente since 1970 so I have watched the place grow and change.

On the plus side, Del Mar — the street that runs down to the pier — has some interesting stores and restaurants. I love the pier and there are new walkways along the oceanfront.

The climate is also very good.

I think that living in Talega would mean being a hostage to the 5, and the traffic can be bad northbound. You can of course take the toll road to Fashion Island. I was in San Clemente this weekend, and the weather was superb and the traffic intense.

Of course, tell me a place on Southern Cal where the traffic isn’t that way…

JS

[mydogsarelazy]

Hi WaitingPatiently,

Various relatives of mine have lived in San Clemente since 1970 so I have watched the place grow and change.

On the plus side, Del Mar — the street that runs down to the pier — has some interesting stores and restaurants. I love the pier and there are new walkways along the oceanfront.

The climate is also very good.

I think that living in Talega would mean being a hostage to the 5, and the traffic can be bad northbound. You can of course take the toll road to Fashion Island. I was in San Clemente this weekend, and the weather was superb and the traffic intense.

Of course, tell me a place on Southern Cal where the traffic isn’t that way…

JS

[mydogsarelazy]

Hi WaitingPatiently,

Various relatives of mine have lived in San Clemente since 1970 so I have watched the place grow and change.

On the plus side, Del Mar — the street that runs down to the pier — has some interesting stores and restaurants. I love the pier and there are new walkways along the oceanfront.

The climate is also very good.

I think that living in Talega would mean being a hostage to the 5, and the traffic can be bad northbound. You can of course take the toll road to Fashion Island. I was in San Clemente this weekend, and the weather was superb and the traffic intense.

Of course, tell me a place on Southern Cal where the traffic isn’t that way…

JS

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