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:
That place has a one car garage. Ridiculous, even at $1.5 million.
And that one "car" better be a Mini or a Vespa!
Actually, it had a two or three car garage accessed by a single width access......
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