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. Anthony Thibert of Maisons has created a master piece by his artistic blending of Old World elegance with contemporary luxuries. Situated on an immense lot exceeding an acre, 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
Gorgeous custom guard gated Hillcrest Estate! Corner lot with impressive views from the front. Amazing curb appeal and many custom features! This impressive French Provincial home has stunning marble flooring and cathedral ceilings. The living room has coiffured ceilings, marble fireplace and a breath taking city light view. The huge family room offers a full wet bar. Kitchen has granite counters, eating area and sub zero refrigerator. Amazing
Owner Investor opportunity for location beautiful property. In South Laguna with OCEAN VIEW with short walk to the beach. Rapid strong offers will be entertained for quick sale . Accepted offers are subject to BANKRUPTCY COURT APPROVAL
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
Charming duplex in an amazing high-end location close just above Pacific Coast Highway. Homes on this street have sold for over $4,000,000. Walk to John Wayne Park and the sunset with ocean views. Ensign Intermediate School is just across the street. Make this duplex your own and rent the other out, or build a custom home with potential ocean views from a rooftop deck. Each unit has 2 bedrooms and 1 bathroom and there is a shared 2 car garage.
Prestigious Hunt Club Property with Spectacular Panoramic View! 4 Very Large Bedrooms and Bathrooms. The Community Features Horse and Walking Trails and 24 Hour Guard Gated Security. Award-winning High Schools Saint Margaret's and JSerra are nearby. Short Drive to World Class Beaches!
REDUCED! This home is located in the Mille Fleur tract in the Woodbury community. Located on a cul-de-sac street, within the highly acclaimed Irvine School District and just steps from the resort-style amenities, enjoy walking to parks, pools, tennis courts, shopping & dining.
Welcome home to the community of Ladera Ranch, and to the very essence of Tuscany found here in the guard-gated enclave of Covenant Hills. The home is close to 3,900 sq. ft and features four bedrooms four bathrooms a formal powder room, dining room, living room, family room, breakfast area, a very large country kitchen, a second story family room and a semi-detached bonus room complete with fireplace. The lot is larger for the area at nearly
PRICE REDUCED! This is a rare opportunity to own a waterfront home at this price!.Excellent location in the DEEP WATER with its own boat dock. Home features a main floor bedroom with a bath and 2 bedrooms upstairs including a master suite overlooking the water with a private balcony. Open floor plan kitchen with natural black granite counter top, separate dining room, step down living room with fireplace and large paved patio all with awesome
Owner /Investor special. APPROVED PLANS FROM CITY OF NEWPORT BEACH, shovel ready and centrally located property, near Balboa Island. Located in Back Bay. Positioned for a quick sale . Accepted offers subject to approval Bankruptcy court. APPROVED PLANS.
Very desirable Trabuco Canyon home on 4 private acres ready for endless possibilities. This is a modern home that is ready for your finishing touch. The main living area is on the top floor along with the master suite and secondary bed and bath. Downstairs potentially hosts an "in law" type quarters with a large private living area, bed and bath. Downstairs also has an additional den/office and entrance to the garage. The green
Beautiful home located in gated, executive community. Spacious 4 bedrooms, 3 bathrooms with an additional office. Large entertaining living room with soaring ceilings. The gourmet kitchen features large island, granite counters, double ovens and ample cabinets. Family room off of kitchen has built-ins and cozy fireplace. Master bedroom suite has spacious closets, double sinks and peek ocean view balcony. The backyard is a paradise with
Welcome home to the foothills of Orange County and to the city of Placentia. Placentia is Latin for “pleasant place to live.” This is one of the largest floor plans within the Rosecrest community and features 4 bedrooms, 3 bathrooms, with close to 3000 sq. ft. of interior living space set upon a massive lot of almost 11,400 sq. ft. The rear yard may be just perfect for entertaining as it includes a pool, spa and plenty of room to create the rear
This home is located in a pleasant and quiet neighborhood near the hills of Orange California. Being so close to the canyons gives the home the advantage of access to several freeways when planning daily commutes is a must. On the weekends those canyons provide several different forms of outdoor recreation though not being so far away that it takes more than 30 minutes to reach the beach and other relaxing areas in Orange County. Residents will
Located close to Chino Hills State Park with easy access to 91 Freeway, this charming home is located in a pride of ownership neighborhood. Walk into your private sanctuary with its gracious entry. Step down to open Living Room for entertaining those special guests. Separate Dining Room has custom built-in cabinets for your special serving pieces and provides perfect atmosphere for holiday gatherings. Island kitchen with walk in pantry opens
Location, Location Location. short walk to the beach. Courtyard facing local park. comes with 2 tanden parking spaces in covered garage. Great potential for buyer willing to do their own home improvements. Very convenient to public transportation and local stores and eateries and entertainment. Enjoy all the local water activities and tours. Nearby beach and pier very close by.
DETACHED HOME HAS A CUL DE SAC LOCATION WITH VIEWS, VIEWS, VIEWS! FEATURING A LIVING ROOM WITH FIREPLACE, SPACIOUS KITCHEN WITH CORIAN COUNTERS & SINK, STAINLESS MICROWAVE, UPGRADED CABINETRY, A LARGE FAMILY ROOM WITH MEDIA NICHE, ALL BEDROOMS ARE UPSTAIRS & A LOFT THAT MAKES A GREAT OFFICE OR 4TH BEDROOM. BEAUTIFUL WOOD FLOORS, PLUSH NEUTRAL CARPETING AND TILE THROUGHOUT!
Largest floorplan in Villagio with lots of options. This could be a four bedroom plus a den. The master bedroom, upstairs, has a retreat, which could be another bedroom, office or leave as it is. There are two more bedrooms on the second level. Downstairs, there is a den, or bedroom, or remove the wall and have a formal dining room. You've got options! The kitchen has granite countertops, an area for a small table by the window overlooking
Highly sought after Versailles on the Bluffs condominium in the heart Newport Heights! World class restaurants and high-end stores nearby and a just short walk or bike ride to the beach. This desirable double-master floorplan features an open floorplan throughout and balcony with partial ocean views. The kitchen is finished with granite countertops Relax on your private balcony overlooking tennis courts and the ocean in the distance!
Amazing opportunity awaits the right buyer for this two story family home on a short cul de sac street! Great floor plan with 2 bedrooms and a bathroom downstairs and 2 bedrooms and a bathroom upstairs. This one is loaded with potential and sits on a large lot with a gated RV/Boat storage. A little rough around the edges needing some maintenance, cosmetics and some minor repair work to make it shine again. Unfortunately, this property will
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 June 19th, 2019 at 4:52am 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.