Los Angeles Times

Many borrowers in default stay put as lenders delay evictions
Despite being months behind, many strapped residents are hanging on to their homes, essentially living rent-free.  Pressure on banks to modify loans and a glut of inventory are driving the trend.

To read the full story, please click here.

The Wall Street Journal

What home sellers don’t tell buyers
As buyers ease back into the battered real-estate market, they’re often hitting a stumbling block:  Fibbing by home sellers.  Buyers should do their own due diligence and not rely on agents and sellers.

To read the full story, please click here.

Therefore,  I called the John Laing Headquarters  in February and I was told that they are not going to continue building or complete the Villa d’este community in Fremont.   It’s up to their lender to decide on the future of this community in the Ardenwood area.

However, since this is the only floorplan and home available, there is no competition.  Unfortunately, the asking price is not attractive to home buyers and timing is wrong,  due to the current economic trend.  The owner bought the model home for $1,400,000.   It is currently listed for $1,275,000 which is still a loss for the seller.    The property does have over $200,000 of upgrades with high end appliances.

Recent article about the John Laing company, please click here.

Article on Timeline of John Laing’s pathway to Bankruptcy, please click here.