Lake Forest 2 Homes & Neighborhoods

I have downloaded the lists from several sources of foreclosure data, but I can see many discrepencies that will need more analysis. Some of the properties labeled as “bank owned” were actually purchased by investors. Some of the properties that are scheduled for auction, are in escrow, or have already been sold as short sales, but the records have not yet been updated. And a few are in the middle of loan modifications. It takes some digging to get an accurate picture of what is really going on out there!

The gross data right now shows troubled homes by neighborhood :
Forest Creek – 14
Indian Hills – 5
Lake Forest Keys – 8
Lakeside Park – 7
Lake Park West – 10
Parkwood Estates – 3
Parkwood Estates 2 – 5
Park Place – 2
Prairie Ridge – 4
Ranchwood – 3
Serrano Ridge – 9
Serrano Woods – 3
The Oaks – 4
The Woods – 5

I’ll work over the data and figure out the actual status on each neighborhood tomorrow!

Here are the updates to the rest of the neighborhoods in Lake Forest II Association.

Indian Hills

Parkwood Estates

Parkwood Estates II

Ranchwood

Park Place

Serrano Woods Condos

Lake Park West

Tomorrow, I will be providing the details & status of the foreclosure market in Lake Forest II.

Call me if you have any questions, or need any advice – I’m right in the neighborhood.

Here are the latest year-to-date lists of activity for half of the Lake Forest II neighborhoods:

Lakeside Park Condos

The Woods of Lake Forest II

Prairie Ridge

The Oaks

Serrano Ridge

Lake Forest Keys

Forest Creek

I’ll post the rest of the neighborhoods tomorrow.  Please check back then, I hope to have them completed by early afternoon.

Sales this year have been lead by the short sales and foreclosures.  The traditional sales have generally sold quickly when well-priced, but some sellers just couldn’t bear to lower their price to compete with the distressed sales.  Those who didn’t really want or need to sell, either withdrew, or allowed their listings to expire.

So far this year, there have been 65 homes that have closed through the MLS.  I compared this to the Sun & Sail Club’s records, and they have collected transfer fees for 70 properties, so obviously some sold outside the MLS.  The prices have ranged from $223,000 for a bank-owned condo, up to $1,140,000 for a short sale on the lake front.

The total active listings in Lake Forest II today is only 23.   Of those, several of them have delusional prices and I think they are mentally living in 2006.  I’m not going to point them out, because that wouldn’t be nice, but you should be able to find them by looking at the lists.  (Hint -  the highest priced non-lakefront home that sold this year was my listing on Sawmill that closed at $633,000 in June, a highly upgraded 2900 square foot house with a 3 car garage and big back yard.) There are a few short sales too.

Here are the links to today’s LFII active listings (check the line that says “Special Conditions” to see if it is a short sale, REO, or standard sale.)  These links will only work until 11/09, when the MLS makes them expire.

North of Lake Forest Drive

South of Lake Forest Drive

I will update all the neighborhood reports for this year on Monday afternoon, so please check back then to see exactly what has sold since January 1, 2009.

Do you want some fun, cheap entertainment?  Next Friday, the 16th, there will be another Comedy Night at the Sun and Sail Club.  For only $16, you get 2 pieces of pizza and a beer, plus some great entertainment right in our own backyard!  Alisa Millers, the recreation manager at LF2 set this up, and you can read about the scheduled entertainers at her website. You can order your tickets online, or save the handling fee and run down to the front desk and get them in person.  Hope to see you there!

PS – I have some buyers waiting for homes in Lake Forest II, so if you know of one coming up soon, please call or email me to let me know!

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Thanks for reading!

4 beds, 2 full 1 part baths
Home size: 2,173 sq ft
Lot Size: 5,445 sq ft
Added: 09/09/09, Last Updated: 10/05/09
Property Type: Single Family, Residential
MLS Number: S588760
Community: Lake Forest South
Tract: Ws2


BEST VALUE IN LAKE FOREST AND MAYBE IN ORANGE COUNTY!!! PRICED UNDER MARKET FOR QUICK SALE!!!

Listed with Michael Kim, Realty Benefit

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Brought to you by Vicki Lloyd, The Real Estate Professionals. Call me today at 949-457-0281, or visit my website at VickiLloyd.com!

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