Lake Forest 2 Homes & Neighborhoods

4 beds, 3 baths Size: 2,729 sq ft Lot Size: 5,280 sq ft Added: 08/29/09, Last Updated: 12/11/09 Property Type: Single Family, Residential MLS Number: S587461 Community: Lake Forest South Tract: Pe The price of this listing was last reduced on 10/19/2009 by 1% This beautiful large Parkwood Estates home is in the heart of Lakeforest. This 2722 Sq.ft. home offers 4 bedrooms, 3 full baths and a large upstairs bonus room over the 2 car garage. The home has a open floor plan with formal living and dining rooms. The large beautifully remodeled kitchen opens to the family room with a slider to backyard. The yard is private and back ups to the slope cared for by the HOA. The parklands are beyond that so the upper bedrooms has views of the park. There is a 1st floor bedroom and full bath. The huge master bedroom with fireplace, several closets and high ceilings makes for a relaxing retreat. This property also includes all the amenities offered at the Lakeforest Sun & Sail Club. The award winning Rancho Canada Elementary School is around the corner and has a neighborhood entrance. This has been a wonderful family home for 25 years with many long term homeowners. Listed with Paul Marcelino, Compass Real Estate Corp.

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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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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.

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. 

Parkwood Estates YTD 8-1-2009

About Parkwood Estates

Previous Reports on Parkwood Estates

Market activity for 2009 for all Lake Forest II neighborhoods :

Serrano Woods Condos

Lakeside Park Townhomes

The Oaks

Forest Creek

Parkwood Estates

The Woods

Lake Park West

The Lake Forest Keys

Lake Park West

Indian Hills

Serrano Ridge

Ranchwood Homes

There has been no activity in Park Place, Prairie Ridge, or Parkwood Estates II so far this year.

If you would like a personalized estimate of your market value, or have any questions about any of these neighborhoods, please email (Vicki @ VickiLloyd.com ) or call me at (949) 457-0281.

Sales in Lake Forest II were pretty slow in 2008, with the majority of them being either short sales, or bank owned.  The following reports are all PDFs and include all sales for each neighborhood in 2008.

The Oaks 2008 Sales

Ranchwood Sales 2008

The Woods Sales 2008

Lakeside Park Sales 2008

Lake Forest Keys Sales 2008

Indian Hills Sales 2008

Forest Creek Sales 2008

Serrano Woods Sales 2008

Lake Park West 2008 Sales

Parkwood Estates Sales 2008

Park Place Sales 2008

Prairie Ridge Sales 2008

Serrano Ridge Sales 2008

There were no closed sales in Parkwood Estates II neighborhood in 2008.

There are only 31 active listings in Lake Forest II neighborhoods as of January 6, 2009 :

Forest Creek – 4 actives

Indian Hills – 2 actives

Lake Park West – 1 active

Lakeside Park – 2 actives

Lake Forest Keys – 10 actives

Parkwood Estates 2 – 1 active

Ranchwood – 2 actives

Serrano Ridge – 1 active

The Oaks – 4 actives

The Woods – 3 actives

There are currently no active listings in Serrano Woods Condos, Parkwood Estates, Park Place, or Prairie Ridge.  (If you have been thinking about selling, there is very little competition right now!) 

I decided to update all the neighborhoods in one post today so you can see all the year-to-date activity for each neighborhood.  I am trying out a new report format, so let me know if you like it or not. 

I like this new report because it includes all the photos for each property, and will update itself if the price or status changes.  A new field called “Special Conditions” is under the property description and will tell you if the property is a short sale, or REO listing.  It also shows the $/square foot price of each property which I think may be valuable to the analytical types.  These links will all expire in 30 days, but I will provide all the new reports before then. 

Serrano Woods Condos

The Oaks

Forest Creek

Indian Hills

Lake Park West

Lakeside Park

Park Place

Parkwood Estates

Parkwood Estates 2

Prairie Ridge

Ranchwood Homes

Serrano Ridge

Lake Forest Keys

The Woods