NEWPORT BEACH

McMonigle’s McMansion auctioned for $18.5 million

 NEWPORT BEACH, NEWS  Tagged with:
May 152012
 
McMonigle's McMansion auctioned for $18.5 million

John McMonigle fully embraced the California housing Ponzi scheme. He claims to have represented $2.1 billion in real estate transactions during the housing bubble. If he made 3% of that figure, that’s $63,000,000 in real estate commissions. In a game of financial football, that is a powerful offense. Unfortunately, his defense wasn’t quite as good. Falling from housing peak: John McMonigle’s ride According to bankruptcy court papers, McMonigle, 46, has amassed some $50 million in debts. His assets – even [Read More...]

 18 Responses »

Despite optimism, signs point to ongoing market weakness

 NEWPORT BEACH, NEWS
Apr 052012
 
Despite optimism, signs point to ongoing market weakness

Everyone seems to believe the market bottom is in. Investors are buying up cheap homes in beaten down markets, Calculated Risk called the bottom, sentiment among realtors has turned positive, and the mainstream media is flooded with optimistic spin about housing. But have we really hit the bottom? Grim Housing Data Shows We Have Not Hit Bottom By MICHELLE HIRSCH, The Fiscal Times — March 29, 2012 A new string of grim housing data confirms what economists and analysts have [Read More...]

 9 Responses »

Bank of America to lease homes to loan owners

 NEWPORT BEACH, NEWS
Mar 262012
 
Bank of America to lease homes to loan owners

It’s always better to get something from a house rather than nothing. Lenders finally figured this out. For the first five years of the housing bust, lenders preferred to allow delinquent borrowers to squat in the bank’s house without making any payments. Someone at BofA finally realized they could foreclose on owners or allow them to turn over the deed and stay in the property as a renter. The bank can collect rent, and if the occupant fails to pay, [Read More...]

 24 Responses »

Current trends in the OC housing market: 3-24-2012

 FULLERTON, GARDEN GROVE, HUNTINGTON BEACH, IRVINE, NEWPORT BEACH, ORANGE
Mar 242012
 
Current trends in the OC housing market: 3-24-2012

The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]

 Comments Off

B of A giving away free money to loan owners

 NEWPORT BEACH, NEWS  Tagged with:
Mar 172012
 
B of A giving away free money to loan owners

B of A is working to obtain maximum public relations value from the settlement agreement. Based on articles like this one, it looks like B of A is the most generous (and stupidest) bank on the planet. BofA to slash mortgage balances by $100,000 or more By Les Christie @CNNMoney March 9, 2012: 3:09 PM ET NEW YORK (CNNMoney) — Bank of America will significantly slash mortgage balances for as many as 200,000 borrowers. As part of the $26 billion [Read More...]

 3 Responses »

Current trends in the OC housing market: 3-17-2012

 ANAHEIM, FULLERTON, GARDEN GROVE, HUNTINGTON BEACH, IRVINE, NEWPORT BEACH, ORANGE
Mar 172012
 
Current trends in the OC housing market: 3-17-2012

The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]

 Comments Off

Current trends in the OC housing market: 3-10-2012

 ANAHEIM, FULLERTON, GARDEN GROVE, HUNTINGTON BEACH, IRVINE, NEWPORT BEACH, ORANGE
Mar 102012
 
Current trends in the OC housing market: 3-10-2012

The OC Housing News profiles properties for sale each day and presents current market data on each city in Orange County. If you really want to know what’s happening in the OC Housing market, you need to read the OC Housing news and subscribe to the our monthly newsletter. Redfin is the most popular real estate search site in Southern California. They track the most popular listings based on the number of views each receives. Below are some of the [Read More...]

 Comments Off

Record low interest rates fail to spur demand

 NEWPORT BEACH, NEWS  Tagged with: ,
Feb 062012
 
Record low interest rates fail to spur demand

Interest rates are at record lows, and prices are at or below rental parity in most markets, yet demand is low and sales volumes are weak. Most real estate shills blame intransigent buyers. Many realtors believe legions of buyers are fence-sitting due to falling prices. In their world, if buyers could just be cajoled into buying, everything would be okay. The main reason buyers aren’t buying is because they can’t. The buyer pool has been depleted by the recession. Fewer [Read More...]

 41 Responses »

This was a $1,000,000 home?

 NEWPORT BEACH, OC BEACH
Dec 252011
 
This was a $1,000,000 home?

This was a million dollar home. Take a good look at that picture, and tell yourself, that was a million dollar home. It doesn’t feel right, does it? I understand that people want to live down by the water, but do they really want to live in a yellow shoebox? Someone thought this tiny ugly house was worth a million dollars in 2005. Crazy! The bank took this back for $825,000, probably the outstanding balance on an 80% loan. This [Read More...]

 2 Responses »

41 BRIDGEPORT Rd Newport Coast, CA 92657

 NEWPORT BEACH
Dec 172011
 
41 BRIDGEPORT Rd Newport Coast, CA 92657

Another Newport Coast home being discounted 30% from the peak. This property tripled in price from 1997 to 2005. It still has a long way to fall, particularly as the banks start clearing out their shadow inventory. ——————————————————————– This property is available for sale via the MLS. Please contact Shevy Akason, #01836707 949.769.1599…… sales@ochousingnews.com….. —— —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- —- [Read More...]

 Comments Off

11 EUCALYPTUS Newport Coast, CA 92657

 NEWPORT BEACH, NEWPORT COAST
Dec 092011
 
11 EUCALYPTUS Newport Coast, CA 92657

This Newport Coast property was purchased by a Ponzi in 2004 for $1.35M. The bank bought it back for $2M. The mortgage equity withdrawal must have been staggering. The bank is looking at a $500,000 loss. Houses priced over $1M are facing major pricing pressure from REOs like this one. ——————————————————————– This property is available for sale via the MLS. Please contact Shevy Akason, #01836707 949.769.1599…… sales@ochousingnews.com….. —— —- —- —- —- —- —- —- —- —- —- —- —- [Read More...]

 Comments Off

835 AMIGOS Way #5 Newport Beach, CA 92660

 NEWPORT BEACH
Dec 042011
 
835 AMIGOS Way #5 Newport Beach, CA 92660

Does pergraniteel really add $150,000 in value? The flippers of this property think it does. It was purchases as REO a couple of months ago, pergraniteel was added, and now they expect a 45% increase in value? Unless this was flopped to them under market value, they will never make that much profit. ——————————————————————– This property is available for sale via the MLS. Please contact Shevy Akason, #01836707 949.769.1599…… sales@ochousingnews.com….. —— —- —- —- —- —- —- —- —- —- [Read More...]

 Comments Off
© 2011 ochousingnews.com Privacy Policy | Disclaimer Wordpress Expert