Saturday, January 3, 2009

2626 Victoria Drive Headed Toward Foreclosure


Bluemove documented the failed auction at 2626 Victoria Drive just after Thanksgiving of 2008. Now, Bluemove has discovered that, according to Realtytrac.com, a mortgage default for this property was recorded in early December. This is the first step of foreclosure and this is becoming a more common factor in Laguna Beach home prices.

The highest market price from the bidders at the failed auction was $1,500,000, but this was well below the price the seller would accept. If and when the bank forecloses, perhaps the home will sell for $1,500,000.

3 comments:

Anonymous said...

That place has a one car garage. Ridiculous, even at $1.5 million.

Anonymous said...

And that one "car" better be a Mini or a Vespa!

Mr. Blue said...

Actually, it had a two or three car garage accessed by a single width access......