Money Magazine article on Ladera Ranch

[Lloyd Bonafide]

http://money.cnn.com/2008/05/01/real_estate/Regnier_Postcards_from_the_Edge.moneymag/index.htm

According to Foreclosure Radar, a Web service that searches public records, more than 100 homes in Ladera Ranch are in "pre-foreclosure," which starts when a bank sends the homeowner a first notice of default. Another 100 are in the hands of the lender or being sold at auction.

First, however, the big question: When will the hurt stop? Judging from what's going on in Southern California, it's likely to be years, not months, before real estate blooms back to life.

 

[CURT VAN HOOSER]

I was in two developments in San Jacinto last month that reminded me of the old west ghost towns. I believe I even saw sagebrush rolling thru them... REO and pre-foreclosure has been my middle name for the last year.