The biggest news in Manteca and Lathrop is the foreclosure notice for Beck properties three subdivisions along with individual residential prosperities in mortgage foreclosure. This is the first major development in the Central Valley to start the foreclosure process.
Mother of all foreclosures
Hundreds of lots at Oakwood Shores, Mossdale Landing up for grabs
Rosoe Albano-sRis
Manteca Bulletin
City Editor
It is without the doubt the largest housing-related foreclosure yet in the Manteca-Lathrop market.
Hundreds of lots in Beck Properties’ highly-touted Oakwood Lake Shores and two sister developments in Mossdale Landing are now in the foreclosure process.
It marks the first, major development to start the foreclosure process and is a clear sign that a significant up tick in home sales since March may not be enough to rescue large segments of the collapsing real estate economy.
A legal foreclosure notice for Beck properties’ three subdivisions appeared in the Manteca Bulletin’s Thursday edition, along with individual residential properties in mortgage distress.
The development company in the trustee’s sale notice is the Stockton-based Beck Properties. The company is the developer of the widely advertised luxury homes in a gated community at Oakwood Shores located at West Woodward Avenue in Manteca, and the Newport Cove and Bar Harbor communities at Mossdale Landing in Lathrop.
The legal notice notwithstanding, it was business as usual Thursday at the company’s sales offices in Manteca and Lathrop, as well as the company’s main office in Stockton.
An employee at the exclusive gated community of Oakwood Shores by Beck Properties on Woodward Avenue said the office was closed Thursday and Friday for the Fourth of July observance and will reopen for business after that. However, she declined to answer any further questions about the sale of the luxury homes in this lakefront community whose name harkens to the widely popular recreation Mecca that it replaced, the Manteca Waterslides at Oakwood Lake owned by the Brown family.
The residential developments at Oakwood Shores and Mossdale Landing in Lathrop were among the properties listed in the legal trustee’s sale or foreclosure notice in the July 3 edition of the Bulletin, which may be sold at a public auction to the highest bidder unless the owner/s “take action to protect your property.” The property owner or trustor identified in the legal notice is Linda C. Beck Holding Company, LLC, a Delaware limited liability company, with Bank of America N.A. as the beneficiary.
A message left for Dave Wenig, whom staff at the main Beck Properties office in Stockton as the person to talk to about the legal notice, was not immediately returned on Thursday afternoon.
Phone calls to the other sales offices of Beck Properties in Manteca and Lathrop were answered by recorded messages. At the Tra Vigna homes at Oakwood Shores, the message said that the office is open everyday from 10 a.m. to 5 p.m. and that if no one answered the phone, they may be on the other line or showing the model homes to visitors.
After the closure of the world-famous Manteca Waterslides at Oakwood Lake in 2004, Beck Properties started building what it touted as luxury homes built around man-made lakes filled with natural groundwater. The 360-acre site encompasses the areas where the mile-long waterslides and other summer attractions at Oakwood Lake and the Brown family’s sand mining business were located. The recorded message from Bella Lago at Oakwood Shores describes the homes on sale at this community as lakefront homes ranging in sizes from 2,600 to 4,600 square feet. Prices for the Tuscan-style homes at Tra Vigna originally ranged from $644,990 to $764,990 with additional $100,000 to $200,000 for those with lakefront locations. The employee contacted on the phone Thursday hung up before this reporter could ask the current prices for these homes.
The Oakwood Shores is located in unincorporated San Joaquin County. Water and sewer services for the 480 homes in the entire development is being provided by the Oakwood Lakes Water District which is an independent agency that was set up by the San Joaquin Local Agency Formation Commission.
Thanks
CAROLPERDEW
(209) 239-7979
