Home for Sale at 2 O Hill Ridge, Laguna Niguel, CA 92677

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2 O Hill Ridge
Laguna Niguel, CA 92677

John Stanaland with DOUGLAS ELLIMAN OF CALIFORNIA, INC., original listing - (949) 270-0440

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Property Details

List Price:	$9,700,000
Beds:	6
Baths:	Full: 6, ½: 2
Status:	Active
SqFt:	7701 Square Feet
Agency:	DOUGLAS ELLIMAN OF CALIFORNIA, INC.
Agency Phone:	(949) 270-0440

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Description/Comments

Lot Size:	1 acre(s)
Garage:	Garage
Property Type:	Residential-Single Family Residence
Year Built:	1995
Notes:	Sited on an over one-and-a-quarter acre lot in the exclusive, guard-gated Bear Brand Ranch community, this Ed Lohrbach-designed estate offers the pinnacle of elegant living. Exuding timeless appeal, the property is a prime example of stately Pasadena-style architecture, with classically scaled interiors and refined sprawling grounds. A soaring double-height foyer with a curved grandeur staircase sets the tone of sophistication prevalent throughout this home. The first floor encompasses formal as well as informal gathering spaces: a dining room, a study, and a sitting room with a magnificent fireplace. A more casual living section opens up to the kitchen with a center island and features sweeping views of the rear yard. The expansive outdoor space offers patios with seating, a pool area with a spa, and elegant meandering pathways set amongst pristine mature landscaping. Grand interiors include four well-proportioned ensuite bedrooms on the upper level, including a sumptuous primary retreat with sweeping views, a sitting area, a fireplace, and a large balcony. Private guest quarters currently utilized as a home office can be accessed via a breezeway, offering seclusion in a multifunctional space. The estate’s sixth bedroom is conveniently located on the ground floor. Impeccable design is evident throughout the stately interiors, with classic millwork, coffered ceilings, and mullioned windows. Exquisitely appointed and located in one of the most coveted enclaves of Orange County, 2 O Hill Ridge presents a truly timeless opportunity.
MlsNumber:	--
ListingId:	LG24244403

Listing Provided By:	DOUGLAS ELLIMAN OF CALIFORNIA, INC., original listing
Phone:	(949) 689-9047
Office Phone:	(949) 270-0440
Agent Name:	John Stanaland
Disclaimer:	Copyright © 2024 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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