Orange County used to have few foreclosures, but this has changed over the past several years. The foreclosure and REO market in Orange County brings bargains to all types of home buyers: from condos and town homes, single family homes, to high end luxury homes.
With foreclosures and short sales, not only is market knowledge important to have, but to also have access to the right properties at the right time with the right information is critical. When you buy a foreclosed home, you're cashing in on a home someone was no longer able to afford. Orange County Bank Foreclosures are a little difficult, but the potential to turn them over for a profit may be there. At OCDreamhomes and OCExecutives - our agents will check nearby for comparable homes to see if the asking price for a foreclosed home is, in fact, a bargain.
Bank Foreclosures in Orange County, or REO properties ( Real Estate Owned in Orange County) by city:
This extraordinary one-third acre waterfront parcel situated across the harbor, possess a sweeping city light view of Newport Coast. Nearly ten thousand square feet of refined living area are centered around a Mediterranean courtyard that is dressed with mature citrus, olive trees and rose gardens. The home features a grand gallery corridor leading past the dining room, library and private theatre into the kitchen and family room in view of the
Welcome home to the exclusive golf preserve of Shady Canyon. Anthony Thibert of Maisons has created a master piece by his artistic blending of Old World elegance with contemporary luxuries. Situated on an estate sized parcel, the architect's vision has been executed brilliantly by the very best craftsmen employing time honored techniques while utilizing the finest materials. Of significant note, many features of the home were imported from
With a stunning 2008 renovation by Laguna Beach architect Drew Blake, this home has been tastefully updated with a 2019 vibe. Mr. Blake’s vision remains the same, with two expansive viewing decks overlooking iconic Victoria Beach. A newly renovated, open concept kitchen- family room, with custom cabinetry, quartz counters, and center- island capped with stainless steel is a subtle blend of neutral tones, allowing the views to take center stage.
Bank Owned home in beautiful neighborhood. Enjoy Catalina and city lights views from the great room or the breezy balcony off the kitchen. Back to the great room. Wow! Huge room with elevated dining area is fantastic! The master suite is large with an over sized walk in closet and fireplace. The family room boasts a sunken bar that will make entertaining a breeze. The wonderful pool off the family room boasts a water slide and fountains. The
Immaculate home at very private Cul-de-sac location with Classic & modern puts together this magnificent,enormous nearly 6000 sf story modern remodeled interior & 28,000 sf Lot landscaped estates in Old Sunny Hills.
Private Remote gated Circular in & out drive way. Presidential Grandeur double door entry into formal marbled foyer and to spacious architectural Living room with wood flooring, vaulted cathedral ceiling with two way
Located on a secluded cul-de-sac street with an incredible flat usable yard with over 32,000 sq. ft. of land. Great City Lights Views! Rare opportunity to create your custom dream estate! Gated circular drive, 3 car garage, 4 bedrooms upstairs and an office downstairs that could be used as a 5th bedroom with it's own exterior entrance. The children's wing has a computer/play area. The grounds currently have a sports court, an empty pool &
Enjoy gentle ocean breezes and exquisitely manicured grounds in the exclusive guard gated enclave of Coronado Pointe. This majestic collection of homes with panoramic views of the mountains and city lights is the epitome of California coastal living at its finest. Just up the hill from some of Southern California’s finest beaches and the award winning Monarch Beach, Ritz Carlton and Montage resorts. Minutes from the charm of downtown Laguna
Elegant single family home in the exclusive and tranquil 24-hours guard-gated community of Laguna
Altura in Irvine! This Cortona Residence 1 home featuring 4BD/3BA (including 1 downstairs BD and BA)
plus Tech/Hobby room on 2nd floor. The kitchen features granite counter top, and center island open to
the formal dining room and family room which have abundance of sunlight. Other upgrades including
laminated wood floors throughout the first
VILLA PARK SINGLE FAMILY BANK OWNED HOME. LOCATED ON A CUL DE SAC. NEEDS A LITTLE TENDER LOVING CARE TO GET THIS DIAMOND SHINING AGAIN. GREAT FLOOR PLAN. DOWNSTAIRS YOU WILL FIND - FORMAL LIVING ROOM AND DINING AREA. OPEN KITCHEN AND FAMILY ROOM AREA WITH FIREPLACE. INSIDE LAUNDRY ROOM WITH AN UPSTAIRS LAUNDRY CHUTE. 2 SECONDARY BEDROOMS. 3/4 BATHROOM WITH DIRECT ACCESS TO THE BACKYARD. 1/2 BATHROOM FOR GUESTS. UPSTAIRS YOU WILL FIND - LARGE
This is a beautiful home located in the curves of Laguna Hills in a well manicured neighborhood with large streets and stunning homes. The wrap around driveway makes it easy to get in and out with plenty of room for parking cars for large gatherings of friends and family. The inside is spacious and well lit with natural sunlight. The outside back patio is large with a pool and spa centered with the house for enjoying warm California days with
This beautiful home features 4 bedrooms and 3 bathrooms on a huge lot with mature trees. The property has been completely remodeled with new kitchen cabinets, counter tops and appliances.The bathrooms have been remodeled as well as new paint and flooring through out the house. The large Master bedroom and bathroom are spectacular which is on the 2nd floor. Close to nearby Schools, Shopping, Restaurants & Freeways.
Wonderful neighborhood of Serrano Heights - Nestled between Anaheim Hills and Villa Park. Great floor plan, located on a cul-de-sac with 5 bedrooms, 4 bathrooms on a 7,673 square foot lot with 3,885 of living space. 3 car attached garage. Archway entry with cathedral ceilings and curved staircase. Downstairs bedroom (was used as a den/office) and separate full bathroom. Living room with fireplace. Large, open kitchen space with granite counters
PRICING IMPROVED! Incredible value plus the LOWEST PROPERTY TAX RATE IN LADERA RANCH. Single loaded prime location next to a small pocket park. Elegant entry that opens into a large great room with vaulted ceilings, custom built-in entertainment center, fireplace and plantation shutters. Formal dining room with french doors that lead to the side yard. Over sized gourmet kitchen equipped with built in refrigerator, stainless steel appliances,
4 bedroom, 2 1/2 bath single story pool home on a large private lot. Located in an excellent area of Fullerton. 2,914 square feet of interior living space and a giant 24,150 square foot lot. Tree lined lot with a 3 car garage.
This home is located in the exclusive guard-gated community of Canyon Crest. Private, Cul-de-sac Home features 3 bedrooms + office and an extra-large bonus room that can be a 4th bedroom, open floorplan with two-story soaring ceilings in Living room, two fireplaces (living room and family room), Travertine floors in extra-large family room, kitchen and all bathrooms, engineered espresso hardwood in all bedrooms. The gourmet kitchen boasts
This inviting home sits on a corner lot on a quiet cul-de-sac in the heart of Ladera Ranch and enjoys views of the mountains, neighborhood and greenbelt from the private balcony off of the master suite. The spacious 5 bedroom layout features a living room, den, downstairs office and a kitchen that opens to the family room. Designer touches include hardwood floors, plantation shutters, a jack and jill bathroom upstairs and a solar system on the
Two level detached home in the lovely West Irvine neighborhood. Spacious floorplan with 3 bedrooms and 2.5 bathrooms. Large family room with fireplace and dining area with view of pool; tile counters and flooring in kitchen; convenient inside laundry room on second floor. Ideally located near Comstock Park and Peters Canyon Hiking & Riding Trail. NO HOA DUES! Property sold as is.
Four bedroom, 2 bath corner home located in the Lake Chateau community in Laguna Niguel. Master suite and secondary bedroom upstairs and 2 other bedrooms on the main floor. Living room has a fireplace and French doors opening to the hardscaped backyard. Spacious kitchen has a large bay window and an eating area. Home also features a dining area and a 2 car attached garage with driveway parking as well. Community pool and spa is very close to the
Welcome to 2238 Continental Avenue in the ‘City of The Arts”, Costa Mesa. Presenting an exciting opportunity to own one of the rarely available homes in the tract. As you drive up to the home, you are greeted by mature greenery and a well-manicured front yard. The oversized front driveway is a unique feature of this home. Upon entry of the home, you will begin to take in the upgrades the home presents. The property has been renovated from floor
Location, Location Location. Lower Unit Condo in a 2 unit condo complex that is a short walk to the beach. Courtyard facing local park. comes with 2 tandem parking spaces in shared covered garage. Great potential for buyer willing to do their own home improvements. Very convenient to public transportation and local stores, eateries and entertainment. Enjoy all the local water activities and tours. Beach and pier very close by.
Orange County REO and Foreclosure Properties For Sale:
Orange County Foreclosures: A REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction ( when the owner stopped payments and lender took over the home). Most of foreclosure auctions do not result in bids or sales because if there was enough equity in the property to satisfy the loan, the owner would more likely have sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.
A foreclosure sale will begin with a minimum bid that includes the loan balance, interest, plus attorney's fees and any costs association with the foreclosure process. If you want to bid in a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property.
Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.
Orange County REO's: the bank now owns the property and the mortgage loan no longer exists. The bank will handle any evictions, and may even do some repairs before listing the property for sale. The banks remove the tax liens and pay off any HOA dues if existent. When a buyer purchases a REO, a title insurance policy and the opportunity to investigate the property. A bank owned property might not be a great bargain. Do your homework before making an offer. Make sure that the price you pay (if you’re successful) is comparable to other homes in the neighborhood. Consider the costs of renovation, and be careful with over bidding and pay over market value. For the most part , in Orange County when a REO becomes available, there's multiple offers on the home, so the highest and best offer will be submitted by the listing agent to the bank. There's no waiting around like in short sales, as the price has been already approved and in the majority of the cases, is a short escrow. REO's and some standard sales are the best bets for those buyers looking for a quick escrow and to move into the property fast.
Based on information from California Regional Multiple Listing Service, Inc. as of October 17th, 2019 at 9:38am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.