WOW! A 3 BD 2 BA Offered at $499,000

A three bedroom unit in the North, which is facing foreclosure proceedings and is offered as a short sale, is now listed for sale for $499,000. This same unit, 1514 Vista Del Sol, sold in 2005 for $675,000.

Two previous short sales of 3 BD units that were listed at $499,000 sold in the mid-$500s in 2008.

Foreclosure Auction Scheduled

A unit listed for sale at Edgewater Isle, 1514 Vista Del Sol, has been on the market for over 4 months and is also facing foreclosure auction on July 23. This unit sold 5 years ago for $675,000 and is now listed as "sale pending" for $499,000 on MLS.

But in another example of banks' greed, the bank has moved to foreclose on the unit for a whopping $792,718. That is over $100,000 more than it sold for during the real estate boom, and more than any unit has ever sold for at Edgewater Isle.

We have seen this already at 1905 Vista Cay where the bank foreclosed at $396,000, and there were no takers. Should this go to auction at this price, surely there will be no takers again. Why don't the banks just take the offer on the table and move on?

UPDATE: The auction has been postponed until September 7 at 12:30 p.m

Foreclosure at 1514 Vista Del Sol at Edgewater Isle

Foreclosure at 1514 Vista Del Sol at Edgewater Isle


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Moxi Posner's Criminal Past

Moxi Posner, also known as Lois Posner, has been very active within the Edgewater Isle community for years. She has been an outspoken advocate for her own various causes, and has appeared in at least two local newspaper articles.

While describing herself as a "homeowner and realtor advocate," Posner has a more colorful background: Posner has 5 criminal convictions for theft, 2 restraining orders against her, and this event that was previously discussed here.

Posner's five convictions in San Mateo County run from 1992 - 2007. It was between criminal convictions in 2006 that she was issued the first restraining order against her from a next-door neighbor. The facts are here.

Get Help with Your HOA Problem

The California Attorney General may be able to help you with your HOA problem. See what they can and cannot do.

What Happens at a Foreclosure Auction

foreclosure buyers at San Mateo County courthoseSee what happens at the San Mateo County courthouse when an Edgewater Isle condo is put up for sale in a foreclosure auction.