Auction style in Nellie Gail

It's on! You've got just one chance to (literally) bid up this Nellie Gail property. Don't even look at the asking price...it's just the "suggested opening bid."

27642 Hidden Trail Road, 92653
Asking price: $1,995,000
Previous sales price: $1,600,000
Previous sales date: 8/25/09

Beds:	5
Baths:	4.5
Sq. Ft.:	7,082
$/Sq. Ft.:	$282
Lot Size:	0.92 Acres
Property Type:	Residential, Single Family
Style:	Two Level, Other
View:	Canyon, City Lights, Mountain, Panoramic
Year Built:	1988
Community:	Laguna Hills
County:	Orange
MLS#:	P711507
Source:	SoCalMLS
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	14 days

From listing: AUCTION - $1,995,000 Suggested Opening Bid - See Remarks, Beautiful Custom Estate in Nellie Gail, Large 40,000sf Equestrian Lot in prime Nellie Gail neighborhood with panoramic views, gated entry, open floorplan, grand entrance with spiral staircase, large family room with full bar, gourmet kitchen, office/library on main floor, large master retreat with fireplace & private deck, backyard perfect for entertaining with pebble-coat pool, spa, built-in BBQ area, Marble fireplace, stained leaded glass windows, instant hot water in kitchen sink, (2) central vacuum systems

We wish we knew how much the current owner expects to pull once everything is done .... $2.1 million? $2.3? More?

One thing to note is this property went for $2.6 million at the peak in 2006. You don't suppose this property has magically appreciated back near there, do you?

Us either. We'll keep our eyes peeled to see what this one eventually goes for.

Get yer bidding war on!

Another week, another tale of a furious bidding war in OC. We at South OC Tracker are officially getting behind this Trabuco Canyon property as the next great candidate to start a bidding war. What makes it so obvious you might ask? How about the asking price of $108/sq ft.

28873 Woodspring Circle, 92679

Beds:	3
Baths:	3
Sq. Ft.:	4,028
$/Sq. Ft.:	$108
Lot Size:	1,645 Sq. Ft.
Property Type:	Single Family Residence
Style:	Traditional
Stories:	2
View:	Hills, Has View
Year Built:	1987
Community:	Trabuco Canyon
County:	Orange
MLS#:	P698882
Source:	SoCalMLS
Status:	Active
On Redfin:	1 day

From description: Beautifully maintianed home with high ceilings and open floor plan. Private backyard features spa, grassy area, and planters full of flowers. Master suite opens into large master bathroom. Home is complete with down stairs bedroom, two additional bedrooms upstairs and a loft. Walking distance to Blue Ribbon Schools. Home Owner Association is complete with olympic size pool, tot pool, tennis courts and club house. Excellent move-in condition.

From what we've seen, this looks like your equity seller meets non-short sale meets turnkey property. Could it use some updating - for example, the kitchen? Sure. But the combination we just mentioned, plus the asking price seems ripe to equal multiple bids.

Redfin says the previous sales price was $200,000 in 1991 - probably a high before the down market of the mid 1990s. We'll see what this one eventually fetches. Hint: probably a good deal higher than $435,000 unless there's some big problem we don't see. Or a typo.