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:
Welcome home to the exclusive golf preserve of Shady Canyon, and to a faithful interpretation of a Tuscan Villa complete with a tower reminiscent of those of San Gimignano. The artistic blending of old world elegance with contemporary luxuries created this masterpiece. Situated on a commanding elevated corner lot, the architect's vision has been executed brilliantly by the very best craftsmen employing time-honored techniques while utilizing the
Brand New Construction, built in 2019, meticulous attention to detail and superb craftsmanship permeate every aspect of this luxurious ocean view home. The modern open-concept layout features 4 ensuite bedrooms, a casita with a separate entrance and a full bathroom (optional 5th bedroom), a large bonus room upstairs, 2 large verandas and a rooftop deck with panoramic ocean views. White oak cabinetry, Cambria quartz countertops, Wolf and Sub-Zero
This sleek, contemporary home has been tastefully updated to capture the stunning views overlooking iconic Victoria Beach. An open-concept kitchen, family room with custom cabinetry, quartz counters, and center- island, creates a subtle blend of neutral tones, allowing the views to take center stage. Draw back the wall of Cantina doors and double your entertainment space. Downstairs are three bedrooms and two and a half baths. The entire second
Ideally located on a private cul de sac within the gated Stoneridge community, this handsome Spanish home is a perfect fit for either a multi- generational or busy working family. With two bedrooms downstairs at separate ends of the house, there’s ample room to customize for your individual needs. The two story living room is wrapped with gallery style hallways above. A huge, open concept kitchen/family room, with fireplace, breakfast nook and
On a private cul-de-sac location in a charming North Tustin neighborhood you will find this 4 bedroom remodeled pool home. New kitchen, bathrooms, roof, new flooring and more...Large family room with a brick fireplace and French doors opening to the backyard. Formal spacious living room is set up for peaceful nights in front of the fireplace. Master suite has a remodeled master bath that includes a free standing bath tub. Formal dining room has
Sitting on an elevated lot, with no home behind you and mountain and sunset views from the Master bedroom, this home will not disappoint. A gracious entry reveals soaring ceilings, circular staircase, and a terrific, open floor plan. The kitchen/family room has a center island and fireplace flanked by handsome bookcases. A downstairs bedroom and bath are perfect for extended family. Don't forget to open the "secret" door in the laundry
This lovely suburban home is located nearly in the heart of Mission Viejo CA. In less than 5 minutes residents can reach shopping centers with multiple grocery stores, restaurants, cafes and more. The neighborhood is beautiful and pleasant with manicured yards, sidewalks and large streets for visitors and guests. The home features a two-door and one- door garage allowing for plenty of space for vehicles, workshop or storage. Enjoy the pool on
VIEWS-VIEWS-VIEWS! THIS HUNTER’S POINTE HOME IN ANAHEIM HILLS WITH PANORAMIC VIEWS OF CANYONS, HILLS AND GOLF COURSE WON’T DISAPPOINT. SINGLE FAMILY HOME WITH 2 STORIES WITH 5 BEDROOMS, 1 FULL AND 2 – ¾ BATHROOMS. NEED A DOWNSTAIRS BEDROOM AND BATHROOM – THIS HOME HAS IT! FORMAL LIVING ROOM WHICH OPENS TO DINING ROOM. KITCHEN WHICH OPENS TO FAMILY ROOM. INSIDE LAUNDRY ROOM WITH DIRECT ACCESS TO THE 3 CAR GARAGE AND ACCESS DOOR TO REAR SIDE YARD.
Welcome home landlords to the city of San Clemente and to the opportunity to own one of the rare fourplexes in this Coastal Resort. The city is home to the former Western White House, great surfing, and perhaps the center of the media world for surfing magazine publishing. This Four-Unit Two Story property features one 3 bedroom two bath unit, two 2 bedroom 2 bath units, and one 1 bedroom 1 bathroom unit. Other features include a community
Charming two story Lake Forest home. Attached three car garage. Beautiful living room with high ceilings. Open floor plan. Nice sized kitchen with breakfast nook plus family room. Fireplaces in living room and family room. Large bedrooms upstairs. Huge master bedroom with walk-in closet and tub in master bath. Large pool. Close to everything, parks, school, dining, etc...
This is the house we all have been waiting for to come on the market!!! Amazing panoramic views of the hills and the valley! This home has 3 bedrooms with 2 master suites, a family room, living room and area for a pool table/games. Also included is a awesome detached guest house with a bedroom, laundry area and full kitchen. Then we have a 4 car garage and workshop in garage. This one has soooo much potential! Did I mention the panoramic
Built in 2003, this charming Colonial style two story property features four bedrooms and 2 1/2 baths with two car attached garage. Living room entrance with dining combo. All bedrooms located on second floor. Possible roof damage. Property consists of approximately 2,275 square footage of living space. City views from the backyard. All potential buyers are asked to check with city and tax records to determine actual bedroom, bathroom counts and
Built in 1986, this charming townhome features two bedrooms and 2 1/2 baths with upgraded granite counters and bamboo wood flooring. Two car attached garage. Rear patio. Living room entrance with dining combo. Kitchen with plenty of cabinet space. Office/loft area. Damaged exterior electrical cabinet.
AWESOME Windsor Village Home for Sale. Your new home has 5 bedrooms, 3 bathrooms and room for everybody! Although this home is a cosmetic fixer, the heavy lifting has already been done: There's a new roof, new electrical service, and new windows/patio doors. Bring your paint brush and finish making this YOUR new home.
Luxury Living in Laguna Woods. 55+ Community boasting amenities for all! 2 bedroom + 1 bathroom with approxl 940sq.ft. of living space. Double door entry leading into the living room. Kitchen boasts light and bright with stainless steel appliances. End unit complete with enclosed private patio. Stackable laundry in full bathroom. Plenty of storage in 2 large bedrooms. Close to shopping, freeway, restaurants and more.
Laguna Woods Village for 55+! 2 bedrooms + 2 bathrooms built in 1965. approx. 1000sq.ft. of living space in the luxurious community of Laguna Woods. Ground level unit Shows light and bright. Kitchen with plenty of cabinets for storage space. White cabinets with white quartz counters and stainless steel appliances. Large sliding doors lead to enclosed patio for extra living space. Dining area off of living room with newer light fixture. Newer
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 August 3rd, 2020 at 1:31am 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.