Parkwood Estates has been pretty quiet this year, but that is not unexpected since they are some of the largest (and most expensive) homes in the Lake Forest II Association. There are currently 3 homes that I am aware of that are in the early stages of foreclosure. They may be able to get a loan modification, or they may come on the market as short sales, or foreclosures.
One bank-owned “Ontario” floor plan with a pool has sold for $545,000 after 17 days on the active market, one “Geneva” was listed at $674,900 and expired after 77 days on the market, and one other “Geneva” listed at $549,900 to $599,900 is currently in escrow after 13 days on the market.
Update 8/1 – a new listing came on today that is not a short sale, or a foreclosure. It’s the largest model (the “Superior”) with 2,976 square feet, 4 bedrooms upstairs, and a bonus room. It is “teaser priced” at $449,000 and may not be shown until Saturday 8/8. Agent remarks say to bring your best over-list price offer. It doesn’t back up to a busy street, so even if it’s a wreck inside, it should attract multiple offers, and the one with the biggest down payment and shortest escrow period will probably win. I am betting that it closes around $535K.
