No One is Spared: Foreclosures in Irvine

Some may think that Irvine, being a more affluent community, will fare better when it comes to foreclosures. I’m not so sure. I saw something in the Irvine World News that I hadn’t noticed before: public notices galore announcing Irvine homes that are in the final stages of foreclosure. Maybe I wasn’t paying attention before, but I don’t remember seeing so many foreclosure listings for Irvine residential property. Note the dates that these loan agreements were signed, 2004 to 2007. Also, note that homes in various ranges of the price spectrum are involved.

Following are some of the listings announcing March foreclosure auctions of residential property in Irvine. These are the addresses as listed in the public notices. If you are interested in any of these properties and if you act fast, an arrangement that benefits the owner, lender and you might be possible. Some properties appear to involve owners attempting a sale before the foreclosure auction; others appear to be owned by the bank. Either way a deal that benefits all parties might be possible, if you act quickly. For more information on the foreclosure process, see Julie’s post “Wanna Buy a Foreclosure in Santa Ana?”

31 Early Light, Irvine 92620: unpaid costs estimate is $1,263,410.56; 5 beds/4.5 baths; 3,640 SF; past sale on 12/ 29/05 for $1,381,500
Neighborhood: the newer part of Northwood

2111 Scholarship, Irvine 92612: unpaid costs estimate is $340,763.09; 1 bed/1 bath; 725 SF; past sale recorded on 02/16/06—built in 2006
Neighborhood: the IBC (airport area)

37 Royal Victoria, Irvine 92606: unpaid costs estimate is $438,274.18; information on number of rooms or square footage N/A; past sale recorded on 12/01/07
Neighborhood: Walnut

308 Streamwood, Irvine 92620: unpaid costs estimate is $307,579.88; 2 beds/ 1 bath; 809 SF; past sale on 07/12/06 for $369,000
Neighborhood: the older part of Northwood

11 Venezia Aisle, Irvine 92606: unpaid costs estimate is $235,427.60; 4 beds/3 baths; 2,200 SF; past sale on 07/31/97 for $246,000—However, the public notice states that a Deed of Trust was recorded on 07/15/04, and a loan modification was recorded on 04/03/06.
Neighborhood: Westpark

52 Seasons, Irvine 92603-0648: unpaid costs estimate is $217,649.69; information on number of rooms or square footage N/A; past sale recorded on 10/03/06
Neighborhood: Quail Hill