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:
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.
Luxury coastal living on the grounds of the Monarch Beach Resort. As you enter the one level home, the grand hallway leads you to the living areas, with a golf course view. A gourmet's kitchen, with granite countertop, Sub Zero, five burner Wolf gas stove, is open to the living and dining area. The master suite, with fireplace and a French door to a private patio, also has a golf course view. The master bath is complete with a soaking tub,
Gorgeous Rossmoor home built in 2004 and updated in 2019. 3840 sq ft of living space on a spacious 8690 sq ft. lot, this spectacular executive home has an open floorplan and is bathed in natural light. Four huge bedrooms, each with its own private bathroom. Refinished wood floors, new carpet, new paint, new light fixtures, new kitchen countertops, and more. Downstairs features one bedroom with walk-in closet and private entrance, large office
4 bedroom, 3.5 bath home in gate guarded community with incredible panoramic ocean views. Kitchen features granite counters and center island with cooktop. Large master suite with dual sinks in the bathroom. Other features include 1 bedroom and bath on the main level and upstairs bonus room. Buyer to verify all information and assume city required repairs if needed. Please see disclosures/attachments.
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.
Built in 1993, this charming single family residence features four bedrooms and three baths with three car attached garage. Grand living room and dining area. Family room with fireplace and lots of natural lighting. Nice size kitchen with island and plenty of cabinet space. Master bedroom/bath with dual sinks and step-in tub besides nice size shower. Carpet in bedrooms. Backyard with inground pool and lots palm trees
Great Price for Spacious 5-Bdrm Brighton Ridge Estate with Beautiful View of the Hills! CALIF DISTINGUISHED SCHOOLS: Bryant Ranch Elementary, Travis Ranch Middle & Yorba Linda High - Premium 17,550-SqFt Usable Lot has Space for a Pool, Spa, BBQ & More - Great Location on a Private Single-Loaded Street ... Lots of Guest Parking! Spacious 3,226 SqFt Floorplan has 5 Bedrooms & 3 Bathrooms, Including a Main Floor Bedroom & Bath with
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.
This lovely suburban home is located within minutes from the heart of Mission Viejo. Residents will find an assortment of grocery stores, cafes and shopping centers within minutes of the home. For those who enjoy golf, there are four courses and ranges in the nearby vicinity in all directions. Parks and recreational areas are abundant as well being so close to the canyon area. The 5 freeway makes it easy to reach multiple locations quickly
Great Price Improvement! 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 and spa; 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! Repairs needed; Property sold As Is.
Fantastic opportunity to purchase a single family home in the highly desirable La Paz community. This 4 bedroom 2 bath home has plenty of potential. Oversized backyard is big enough for a pool and plenty of room to entertain. Walking distance to award winning schools: Mission Viejo High School, La Paz Intermediate School and Linda Vista Magnate Elementary School. Enjoy easy access to the freeway and the amenities of Lake Mission Viejo and the
Price Improved! Two level home in great Orange neighborhood. Location convenient to Santiago Canyon College, Peters Canyon and Irvine Regional Park. Open floor plan with 2,839 square feet on large 7,150 square foot lot. Features include formal entry with double entry doors; sunken living room with vaulted ceiling and formal dining area; spacious kitchen open to family room with fireplace and wet bar; second floor master suite with walk-in closet
Move-In Ready fully updated 3 Bedroom, 1.5 Bath home in the City of Buena Park. This property features a good size living room-dining room combo, brand new laminate flooring in the living room, hallway, bedrooms, dining room, stainless steel appliances, new kitchen cabinets, new kitchen and bathroom counter tops, farmer sink, Central Air & AC, solar panel system (not leased), all brand new windows, upgraded 200 AMP electrical service panel,
Location, location, location! 916 E Everett Pl Orange, CA 92867. Large 3 Bedroom 2 Bath Home In Highly Sought Neighborhood. Separate Living & Family Rooms. Master Bedroom With Attached Bathroom. Fireplace In The Family Room. Granite Countertops In The Kitchen. Separate Laundry Room. Central Air & Heat, Two Car Garage. Long Driveway, Large Lot Approx 8,910 Sq Ft, With Unfinished Pool And Spa, And Backyard, Reflective In Price. Close To
HUGE PRICE REDUCTION!! Highly desired Woodbury’s Four Quartets community in Irvine!! This one-level home is on the ground floor with two spacious bedrooms and two full baths. Two-car direct-access attached garage. Laminated flooring throughout, except two carpeted bedrooms, and tiled bathrooms. Walk-in closet in the master suite and the dual vanities. Convenient inside laundry closet. Community offers beautiful trees and trails, parks, tennis
Great potential! Bring your paintbrush and bring this home back to its former glory! Wonderful street in Ladera Ranch, walking distance to Bridgepark Plaza (Alberston’s, restaurants, Starbucks, bank etc). This home has three bedrooms, all upstairs. There is a living room with windows looking toward the cul-de-sac. A formal dining room is customized with wainscoting. The kitchen and family room open to the large, private side yard. Also
Single level 5 bedroom home on a large lot. Kitchen and baths have been updated, living room has a dining area and lots of window to view the spacious backyard. There is a private gated entry before entering the double front doors. A 2 car attached garage with hook ups for the washer and dryer and plenty of driveway parking. The large backyard has a fruit tree and plenty of room to expand. Close to shopping centers and schools.
Welcome to the charming " Pinetree Village" gated community. This is an airy 2 bedroom/2 bath unit in canyon high/ orange unified school district.
This townhouse was freshly painted and new flooring throughout upstairs and downstairs. There are plenty of amenities in this community such as a community pool , clubhouse and community laundry very close by. The roofs were replaced just a couple years ago. The community is close to the
Leisure World Living in Laguna Woods. 2 bedrooms + 2 bahtrooms with approx 1324sq.ft. of living space. Recently updated with newer paint and carpet, newer stainless steel appliances. Private concrete patio off first floor. Upstairs loft area with 2 bedrooms. Community boasts walking trails, golf, swimming pools. Close to shopping, freeways, and more.
Laguna Woods Living in 2 bedroom + 2 bathrooms unit. Approx. 894sq.ft. of living space. White and bright kitchen with white cabinets and white appliances. Carpeted living room leads to concrete patio. Wall units in living room and bedrooms for heating and air. Laundry in closet. Laguna Woods living includes many amenities for Senior Living. Pools, Spa, Horse Trails, Golf. Close to freeways, shopping, and restaurants.
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 January 21st, 2020 at 5:41am PST. 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.