The Woods of Lake Forest California

The Woods of Lake Forest II currently has 6 homes available on the MLS.  One of them is a foreclosed home that I wrote about on my other blog when it was auctioned in February.  After sitting vacant and neglected for over 6 months, the bank decided that an auction would be the best way to unload this property.  Apparently, the auction buyer couldn’t really qualify to buy that house, and after trying for over 2 months, finally gave up and cancelled the escrow.  The house came back on the market last Friday, but the listing agent didn’t bother forgot to put the key in the lockbox, so it couldn’t be shown until Monday afternoon!

I have had several buyers interested in this house, and two of them came very close to buying it.  Another agent, that I had bumped in to when we went to see it on Friday and found no key, told me that her client, a general contractor had later taken a look, but decided that dealing with the required repairs and upgrades, as well as removing the rat poop from the attic, were more than he wanted to deal with.  Rumor has it that the bank received several offers and, as is typical in this situation, they are now asking for “highest and best.”  I will report on this again later when  if it closes. 

The Woods YTD 4-26-2008
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