Sweet Orange

126 Tangerine

Public notices in the Irvine World News showed the following homes in Orangetree were set to go on the trustee auction block in January and February of last year. I don’t have the information handy on whether or not these homes were actually auctioned at the designated time, but I will provide you with information on the date and amount that these homes last sold for.

Orangetree, which includes mostly condos (although a few detached homes do exist) is one of Irvine’s more affordable areas. The low prices are due to the limited square footage, not necessarily the price per square foot.

To see what is currently available in Orangetree and to compare current prices with the selling prices of the homes listed below, see the Refin Orangetree map.

126 Tangerine, Irvine 92618: 1976 condo, 2 beds/2 baths, 1154 SF

• Scheduled auction date: 2-5-09
• Approximate amount owed plus interest and fees: $511,649.62
  (previously sold for $495,000 on 08/31/2004)
• Sold for: $395,000 ($343/SF) on 04/17/2009
  (Most recent Zestimate: $403,000)

426 Orange Blossom #202, Irvine 92618: 1977 condo, 1 bed/1 bath, 662 SF

• Scheduled auction date: 1-28-09
• Approximate amount owed plus interest and fees: $265,535.07
  (previously sold for $315,000 on 02/20/2007)
• Sold for: $180,000 ($272/SF) on 08/07/2009
  (Most recent Zestimate: $166,000)

102 Tangerine, Irvine 92618: 1976 single-family, 3 beds/2 baths, 1445 SF

• Scheduled auction date: 2-4-09
• Approximate amount owed plus interest and fees: $508,545.07
  (previously sold for $211,000 on 06/22/1999)
• Sold for: no recent information showing
  (Most recent Zestimate: $460,000)

Here are the most recent Orange County foreclosure numbers from DQNews:

Notice of Defaults (NODs)–This is the first step in the foreclosure process; however, this does not necessarily end in the home being taken back by the lender.

Fourth Quarter 2009 Year-Over-Year Numbers:

• 2009–5,555
• 2008–4,481
• This is a 24.0% year-over-year increase. However, the quarter-to-quarter number of NODs deceased.

Third Quarter 2009 Year-Over-Year Numbers:

• 2009–7,436
• 2008—5,692
• This is a 30.6% year-over-year increase.

Trustee Sales Recorded–This is the last step in the foreclosure process. The home is sold to a new owner at a trustee auction or taken back by the lender in this stage of the foreclosure process.

Fourth Quarter 2009 Year-Over-Year Numbers:

• 2009–2,235
• 2008–2,088
• This is a 7.0% year-over-year increase. In addition, the quarter-to-quarter number of trustee sales is approximately the same.

Third Quarter 2009 Year-Over-Year Numbers:

• 2009–2,238
• 2008—3,997
• This is a 44.0% year-over-year decrease.