A home on the ocean front in South Laguna Beach is scheduled for foreclosure auction. The reason that I bring up the point (if you have been following my blog today) is that again all of the segments of the market are severly affected by the lack of jobs. I would have said recession but I heard that the recession is over.
California has been hit hard across all socio-economic strada. If I would have told you 4 years ago that the an ocean front property would be lossed to foreclosure in Laguna Beach you would have laughed in my face. It was unthinkable.
The unpaid amount on this home is $6,9093,359.25 according the Orange County Register. The foreclosure auction date for this ocean front home in South Laguna Beach is scheduled for October 28,2010.