Coming as no surprise following the collapse of Lehman Brothers, SunCal's biggest backer of the Marblehead Coastal real estate development, SunCal has filed for Chapter 11 bankruptcy protection this past Thursday on this community according to the Los Angeles Times.  This 313 home planned coastal community in San Clemente represents just one of 23 SunCal housing projects in various stages of Chapter 11 due to the collapse of Lehman Brothers.  SunCal will need to make quick decisions on which communities to sell off and liquidate and which ones to keep in order to ride out the real estate storm.  SunCal, nevertheless, has indicated it has no plans to sell off Marblehead Coastal.   SunCal  has indicated that it has "alternative sources" of financing to maintain the wetlands at Marblehead ... 11/19/2008

In the latest unnerving chapter of the Marblehead Coastal saga, the San Clemente City Council voted unanimously Tuesday to call in performance bonds against SunCal Marblehead LLC to complete infrastructure projects in the development.  According to the Orange County Register's article on this matter, the City Council authorized city attorneys to file suit against SunCal claiming that they are in default of a 2005 development agreement; if there is no response by SunCal, the City Council will then call millions of dollars in performance bonds to complete projects such as finishing Avenida Vista Hermosa west of Interstate 5 and the widenings of Avenida Pico and El Camino Real near the development.  The City views these improvements as vital public safety issues and can no longer wait for ... 10/22/2008

In 2001 a park for the disabled was proposed in South Orange County.  In 2002, San Clemente agreed to help build this park named "Courtney's San Castle", after the 4 year old girl who inspired the much needed park. In 2007 the grand plan for this park was unveiled with much fan-fair to the San Clemente City Counsel. In 2007 Sun Cal properties was to contribute $600,000 toward the completion and help build the park.  Sun Cal is no longer in much of a position to help build a park, much less finish the grading they started over two years ago.  The Fall of 2008 is the scheduled completion date of this park for the disabled.  It has not been discussed at the city planning or parks and recreation meetings of late.  Where is Courtney's San Castle?  .  If you have any information on this park ... 09/23/2008

At the July 17th San Clemente city council meeting Dave Placek, representing SunCal, LLC, reported on the status of the Marblehead residential/SunCal project. Mr. Placek provided the San Clemente City Council with a construction schedule, noting that there have been no changes since the previous meeting. He summarized the status of various aspects of the project. He stated that SunCal will meet with Craig Realty regarding the commercial site and advised that he recently met with representatives of Colony Cove to ensure that issues related to temporary fencing and site clean up are addressed. 08/22/2008

On March 18, 2008 the Sun-Cal project took a big leap forward. A big keystone in the project has been the bridges that span the canyons that stand in the way of the Avenida Vista Hermosa proposed route.  Sun-Cal had new signs of life as they continued to work on the project after a long period with no progress on the project.  This is what the press release stated: MASSIVE ROUND-THE-CLOCK CONCRETE POUR IS COMPLETED FOR 400-FOOT-LONG BRIDGE AT MARBLEHEAD COASTAL IN SAN CLEMENTESan Clemente, Calif. (March 21, 2008) -- A major construction milestone for Sun-Cal Companies, Marblehead Coastal master-planned community in San Clemente was reached Tuesday, March 18, with the round-the-clock pouring of 2,400 cubic yards of concrete for a 400-foot-long bridge that spans a canyon within the develo... 08/06/2008

Mortgage Market Report for Wednesday February 6th, 2008The same volatility continues in the bond market.  Yesterdays selloff in stocks boosted the bond market as again investors are looking for security in bonds.  However, today stocks are trading higher and putting pressure on bonds.  Several members of the Federal Reserve are speaking today and the market may react on those comments.  Bond prices are below the resistance at the top of the trading range.   This confirms the volatile market that we are faced with on a daily basis.  We recommend floating for today but be prepared to take advantage of the favorable rates should we see any sudden changes. Thank you for listening to  http://www.contactherrick.com/  We will have another report for you, your family, your friends and your impo... 02/06/2008

Looking for a Home in South Orange County that Offers the Best Price for an Ocean View along with No Mello Roo's Taxes, Gated Community, Reasonable Association Dues, Built 2004 to 2006, Driving Distance to the Beach, Shopping, Schools and the 5 Freeway. Consider buying in The Reserve in San Clemente. The Reserve in San Clemente offers the 4 Distinct Communities of Reserve East, Reserve North, Reserve South and Reserve West. Square Footage ranges from the mid 2000s to mid 4000s. There are View and Non View homes located within the 4 communities. The View Homes offer outstanding Catalina Island and San Clemente Island Ocean Views. Prices Range from the Upper 900s to Mid 2 Million Price Range. Should you consider your next home in San Clemente, Call Gary Gonzales with Re/Max to set up a ho... 03/17/2007