Two 1-Bedroom Units Sell 20% Below 1-Year Old Comps
March 9, 2010
A foreclosed unit, 1666 Via Laguna, sold from Wells Fargo Bank on February 18 for $330,000, 20% lower than the last 1 BD unit that sold 5 months ago, September 1, 2009 for $410,000. This unit was foreclosed on from the previous homeowner who had owned it for 18 years, having purchased it in 1991. A previous distress sale, 1601 Via Laguna, sold for $301,000 from the bank back in 2008.
The new buyers must be familiar with the antics of Edgewater Isle. Are they the ones who e-mailed us asking about the dues before the sale closed? If so, they should be well-informed about what goes on.
Another foreclosed unit, 1905 Vista Cay, had been on the market for nearly 2 years in one form or another. It sold for $329,000 on February 26.
And a 2 BD 2 BA unit in the South Association, after NOT SELLING for 3 months, relists the property and has RAISED THE ASKING PRICE by $9,112. Sure. Let's see how well that trick that works out. UPDATE: The unit was withdrawn from the market again.
Another Foreclosure at Edgewater Isle
January 11, 2010
The foreclosure problem still exists, even at Edgewater Isle. Homeowners, many of whom haven't received raises or have incurred pay cuts, struggle to keep up with continually rising HOA dues among other costs.
According to San Mateo County records, another condo at Edgewater Isle was lost to foreclosure: 1666 Via Laguna was foreclosed on for $286,555 on December 8, 2009, and is currently listed in MLS by a vulture realtor for $349,900. And banks got a bailout?
Did Wachovia Mortgage FSB attempt any sort of mortgage modification with the homeowner before taking the house? Or did they just take it and list it at almost $64,000 more than the foreclosed upon amount? (Which already included plenty of junk fees, as banks and HOAs like to do.) And Wachovia is too lazy to include the correct page numbers in their public notice. What a bunch of crooks.
NOTICE OF TRUSTEE'S SALE T.S No. 1230272-02
APN: 108-690-010-5 TRA: 12010
LOAN NO: Xxxxxx2143
REF: Onizuka Glen
IMPORTANT NOTICE TO PROPERTY OWNER: YOU ARE IN DEFAULT UNDER A DEED OF TRUST DATED October 31 2003.
UNLESS YOU TAKE ACTION TO PROTECT YOUR PROPERTY IT MAY BE SOLD AT A PUBLIC SALE. IF YOU NEED AN EXPLANATION OF THE NATURE OF THE PROCEEDING AGAINST YOU YOU SHOULD CONTACT A LAWYER.
On November 23 2009 at 12:30pm Cal-Western Reconveyance Corporation as duly appointed trustee under and pursuant to Deed of Trust recorded November 10 2003 as Inst. No. 2003-320939 in book XX page XX of Official Records in the office of the County Recorder of San Mateo County State of California executed by Glen Onizuka An Unmarried Man will sell at public auction to highest bidder for cash cashier's check drawn on a state or national bank a check drawn by a state or federal credit union or a check drawn by a state or federal savings and loan association savings association or savings bank At the main entrance of the city hall of records 401 Marshall Street Redwood City California all right title and interest conveyed to and now held by it under said Deed of Trust in the property situated in said County and State described as: Completely described in said deed of trust The street address and other common designation if any of the real property described above is purported to be: 1666 Via Laguna San Mateo CA 94404
The undersigned Trustee disclaims any liability for any incorrectness of the street address and other common designation if any shown herein. Said sale will be held but without covenant or warranty express or implied regarding title possession condition or encumbrances including fees charges and expenses of the Trustee and of the trusts created by said Deed of Trust to pay the remaining principal sums of the note(s) secured by said Deed of Trust. The total amount of the unpaid balance of the obligation secured by the property to be sold and reasonable estimated costs expenses and advances at the time of the initial publication of the Notice of Sale is: $285,466.48. If the Trustee is unable to convey title for any reason the successful bidder's sole and exclusive remedy shall be the return of monies paid to the Trustee and the successful bidder shall have no further recourse. The beneficiary under said Deed of Trust heretofore executed and delivered to the undersigned a written declaration of Default and Demand for Sale and a written Notice of Default and Election to Sell. The undersigned caused said Notice of Default and Election to Sell to be recorded in the county where the real property is located. Regarding the property that is the subject of this notice of sale the "mortgage loan servicer" as defined in civil code § 2923.53(k)(3) declares that it has obtained from the commissioner a final or temporary order of exemption pursuant to civil code section 2923.53 and that the exemption is current and valid on the date this notice of sale is recorded. the time frame for giving a notice of sale specified in civil code section 2923.52 subdivision (a) does not apply to this notice of sale pursuant to civil code sections 2923.52.
This California Declaration is made pursuant to California Civil Code Section 2923.54 and is to be included with the Notice of Sale.
I Jaimee Gonzales of Wachovia Mortgage FSB ('Mortgage Loan Servicer') declare under penalty of perjury under the laws of the State of California that the following is true and correct: The Mortgage Loan Servicer has obtained from the Commissioner of Corporation a final or temporary order of exemption pursuant to California Civil Code Section 2923.53 that is current and valid on the date the accompanying notice of sale is filed AND The timeframe for giving notice of sale specified in subdivision (a) of Civil Code Section 2923.52 does not apply pursuant to Section 2923.52 or 2923.55.
Date: 07/22/09
Name of Signor: Jaimee Gonzales
Title and/or Position: Vice President.
For sales information: Mon-Fri 9:00am to 4:00pm (619) 590-1221. Cal-Western Reconveyance Corporation 525 East Main Street P.O. Box 22004 El Cajon CA 92022-9004
Dated: November 02 2009. (R-266490 11/02/09 11/09/09 11/16/09)
11/2 11/9 11/16/09
SPEN-1711118#
EXAMINER - SAN MATEO
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