Straight to auction: 17 model homes in Palmdale

Another clump of new homes is going straight to auction on June 1. The auction house Kennedy Wilson is billing these 17 homes in Palmdale and Lancaster as "gorgeous, luxury model homes."  Here's the website.

Details: 2 to 5 bedrooms, ranging from 1,891 square feet to 4,128 square feet, previously priced from $289,000 to $605,000, now with "minimum selling prices" from $125,000 to $250,000.

More: "Successful bidders can realize incredible savings; over 50% off previous asking prices! Of special note is that ALL 17 homes will be sold with Published Reserve Prices and without any hidden reserve."

More: "These appealing former model homes are located in the desirable Palmdale and Lancaster neighborhoods of Calico Terrace, Discovery Trails, Grandiflora and master-planned Anaverde."

Your thoughts? Comments? Yes, luxury and Palmdale don't always go to together in the same sentence. E-mail story tips to peter.viles@latimes.com
Photo Credit: www.palmdalehomesauction.com

Comments

[2 cents]

Who wants to live in Palmdale????

[Duke of Moral Hazard]

Get them down to detroit prices and I've got my atm card ready.

Um, if anyone but me enjoys watching the Laura Richardson shipwreck, check this out:

http://origin.presstelegram.com/news/ci_9410331

She's in court talking about election fraud today (yesterday?), she's had a much longer history of defaults than we thought. And that's just after checking records in L.A. County. There's a whole state to check -- even a whole country. If I find out she swooped in on some hot deals in New Orleans as well, stick a fork in.

And those loans she keeps getting are looking more and more fraudulent in light of her history of defaults. Riiiiiiiiiiiiiiiiight, Wamu? How come she hasn't given you permission to talk about her borrowing yet? Something to hide?

How come we haven't heard yet who's investigating her? Jerry Brown, where are you? Can't congress throw together a committee quickly?

[mike]

are there nice palmdale neighborhoods???? that price sounds right, a used car salesman could probably make the 30 yr fixed on $125,000. i think those homes will sell quickly at that price.

p.s. i am a disgruntled homeowner, i bought a house in 1999 and 2000 for over 400,000 dollars . one is a rental and i live in the other one.

[SoCalRealEstateNews]

Auctions are strange animals. During the '91-'95 crash, they were all run by Texans in tuxes. Quite a site, but buyers usually overpaid.

I suspect they still do today.

For my experience with a HUD auction back in '95, check out:

http://socalrealestatenews.com/blog/foreclosure-tips/

[Ragnar]

Could someone f/u after the auction and see what the actual sales prices were. Thanks!

[E]

Desirable neighborhoods in Palmdale and Lancaster?

That's an oxymoron isn't it?

[CD]

I emailed Jerry Brown and Boxer/Feinstein and Pelosi. It is a bit as one blogger said "like pissing in the wind" but a little noise does not hurt. It's interesting to follow up the chain link to the top....Well the NAR did lose their privileged MLS this week. That's one for our team. Also non residential building permits are down 40% in OC.
Great no more big box stores in the middle of nowhere.
For the past couple of days Tanta at Calculated risk got some very interesting banking news. Not to miss, it is coming our way, like a tsunami, save your money.

[estabahn]

I lived in palmdale for 12 years .I would rather live in Death Valley.i prefer the midwest climate over the
wind blown Gang infested Antelope Valley...

[Calculated Risk]

Peter, the documents list this as "REO". Did the builder default on their C&D loan to GMAC?

Best Wishes.

[Arti]

These reductions are a good start, but the prices are going to come down even more in the next couple of years, this is the tip of the iceberg.

The freefall is finally starting in West LA/Santa Monica, can't wait till they experience this kind of fall back to fundamental pricing in line with historical trends.

[LA]

"... now with "minimum selling prices" from $125,000 to $250,000...ALL 17 homes will be sold with Published Reserve Prices and without any hidden reserve."

So the reserve price will be published instead of hidden. Published where? The "minimum selling prices" and the "Published Reserve Prices" are still two different things.

Before long, they'll start advertising the reserve price and a discounted buyer's premium as the minimum selling price.

The real estate and home mortgage industries are still playing games. They don't yet realize the jig is up.

[Uncle Billy Climbs Mont Pelerin]

CD: Pelosi actually endorsed her, didn't she? and Jerry Brown is probably going to be claiming to be much too busy with much more important cases.

I've been thinking about the NAR-MLS monopoly on information. Look at the alternative - think of the price manipulation that could take place if real estate was controlled by just a few large internet-based companies rather than 10's of thousands of independant contractors that belong to NAR.

I wonder if Bob from the Gardena auction got to buy *his* auctioned house yet. He reported on another post that he heard that there were others besides him still waiting to consummate the deals. Per Bob the deals were supposed to be done within 5 days, but they were still waiting.

[MyLessThanPrimeBeef]

Considering all the used SUVs out there, repossessed or otherwise, and fuel cost those days, maybe we will see brand new, straight to auction, SUVs pretty soon.

Maybe I shouldn't say this, but what the heck, I think some books should be sold as 'straight to the $1 or less bargain book bins.'

[Rob Dawg]

An auction with a reserve is not an auction but a high pressure sales tactic. Read the bidding rules very carefully to ensure the auction house itself cannot engage straw buyers.

[Semphris]

Oh man. I work with a guy who lives in that neighborhood. Man is he pissed.

[JamesW]

Palmdale, Valencia, Simi Valley? What's the differnce? All homes were used as ATMs for Chevy Tahoes and have miserable climates and no culture.

[mbob]

Yo James, check out the attitude on the N. Bound 14 these evenings as contented homeowners rush home in their comfy SUV's. Not.

Try not to notice the drivers savaging their own flesh in rage and frustration at having been so easily conned into thinking bigger fools were going to buy them out.

Oh, er, and uh, careful about those drivers packing/brandishing heat....

[Laker]

JamesW,
How do you mention Simi Valley on the same sentence with palmdale?
Simi valley has great schools, lowest crime, great air quality (much better than westside.), a lot of new shopping centers, newer houses, less traffic, and jobs.
Palmdale has nothing of this, far from civilization, commute to citi, crime, bad schools, please............

[ocrenter]

just looked at these homes on ziprealty. these are actually model homes.

peter, do keep an eye out on the results for us, it'll be very interesting to see.

[ocrenter]

here's more info on the 3000 sqft model. the auction starting price is $190,000.

there's a short sale of the same model right now for $290,000.

would love to know the reserve price. because there's not a lot of room to bid until one hits the current market value.

[Lou]

If you want to know how Simi Valley and Valencia are, just watch Weeds on Showtime. Palmdale and Lancaster though are GHETTO. The crime and gang problems up there rival South LA. And on top of that you see a lot more rebel flags than you would on the Westside.

[Geek Seek]

Bob, the auction buyer from the Gardena Home Auction thread a few posts down reports that the seller was supposed to consummate his deal after 5 days, but that he's hit 20 days now, and he's pulling out.

Pete, maybe try to get a hold of him and get his full story? He knows that others were in the same position.