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:
The property is widely known as Easter Hill. Set atop the highest point in Cowan Heights it offers rare and unparalleled 360 degree views, mountains to ocean, on approximately 7 acres of land. The three-story 8,000 square foot home with six bedrooms and six baths is privately set behind its own gates and located within the prestigious guard-gated community of Rocking Horse Ridge. The property includes a Heliport, putting green, four detached
Lender owned Home overlooks the picturesque tree lined coast of Woods Cove. The main house has 3 full bedroom suites, living room, dining room, nook, family room with bar, office - all with grand ocean views. 20' ceilings on the main open living area with floor-to-ceiling glass, enormous master suite with oversized bath and closet. Additionally, there are 2 separate guest suites, plus parking for 6 cars at the top and 5 cars at the bottom of the
Wonderful Nellie Gail Ranch location on quiet cul-de-sac in Laguna Hills. Exceptionally high ceilings and unusual accents make this a dramatic home. The spacious two-level floor plan features four large bedrooms with ensuite bathrooms; formal living and dining rooms; great room with attractive tavern-style wet bar with dark wood paneling; spacious kitchen with breakfast alcove, granite counters and stainless appliances including built-in Subzero
Panoramic Bay Views in this completely remodeled "G" plan at the end of the cul-de-sac! One of the most sought after locations in The Bluffs with outstanding bay views and adjacent to the vast greenbelt with abundant natural light and privacy. Brand new hardwood flooring, custom fireplace, expanded kitchen with professional 6 burner stove, stainless steel appliances, remodeled bathrooms, fresh paint, new A/C and furnace, new ducting,
2 story house located in the desirable community! 5 bedroom, 3 bath, 3,601 Sqf home waiting for you to make it your next forever home! Warm and comfortable living spaces. Home features beautiful landscaping and ready for someone to move in. Located near Shopping Center and easy access to the Freeway. Don't miss this one. It's going to go fast.
Beautiful single story home in the prestigious city of Newport Beach. Offers 2,370 sqft with 4 bedrooms and 2.5 bathrooms, has private pool, and is located at the end of a cul-de-sac! This one is a must see. Won't Last!
Welcome Home to Columbus Grove in Tustin located in the Irvine School District. 5 Bedrooms, 4 Bathrooms, 2 Car Garage, Approx. 2,780 SF., 2-Stories
Downstairs: Formal Living Room / Dining Room combo; Secondary Bedroom; Full Bathroom; Kitchen / Family Room combo; Laundry Room; Garage Direct Access.
Upstairs: Master Suite/Bathroom; Secondary Bedroom w/Private Bathroom; 2 Additional Secondary Bedrooms with a Jack-N-Jill Bathroom
This beautiful luxury home is located in most sought after private 24 hour security guarded gated community of San Joaquin Hills. Kitchen features nice size island with lots of storage and counter space! Home features 5 bedrooms 3 bathrooms and a lot of natural light. Home is near parks and shopping.
Adjacent to the prestigious desirable Floral Park neighborhood. Extraordinary modern home built in 2006 by Shea Homes in The Retreat community. This beautiful home is approximately 4,255 sqft of living area. 2 stories features 5 bedrooms, 4.5 bathrooms, formal living and dining rooms, family room, Ex-large Chef's kitchen with center island, granite counters, upgraded cabinetry, stainless appliances. Ex-large master suite with retreat fireplace,
High ceilings, tile floors, huge gourmet kitchen with granite counters, kitchen island lead you into the open living room with custom stone fireplace mantle. This property features 5 bedrooms, 3.5 bathrooms, 3,400 square feet with a formal living and dining room. Spacious Master Bedroom suite with double sided fireplace. Master bathroom has dual vanities, tub and separate shower and a massive walk-in closet. Next to the tree-lined and highly
Two story home with beautiful panoramic views. Home features mostly tile flooring on the main level, neutral color tones for easy customization, large windows that provide abundant natural lighting, marble fireplace, and vaulted ceilings. Kitchen features recessed lighting, ample storage, center island, and open floor plan adjoining to the living room. Upstairs features open family area, laundry room, and large bedrooms. Exterior features
THIS MASSIVE LENDER OWNED HOME HAS TONS OF UPGRADES! OVER 4000 SQ FT OF QUALITY FEATURES 5 BEDROOMS & 5 BATHROOMS, WITH ONE OF THE BEDROOMS AND TWO BATHS ON THE MAIN FLOOR. NESTLED ON A CUL DE SAC, THE LOCATION IS CONVENIENT TO FREEWAYS, SCHOOLS AND SHOPPING. AN OVER SIZED 3 CAR GARAGE, DUAL TANK LESS WATER HEATERS AND SOLAR POWER. DIRECT ACCESS INTO THE HOUSE, TRAVERTINE TILE FLOORS AND CUSTOM WOODWORK ACCENT THE ROOMS. THE GOURMET KITCHEN
High traffic, mixed use building. Two commercial units in front currently being used as hair salons, single family residence in the back. 3 bed/2 bath. Perfect for small business owner looking for storefront space.
Wonderful family neighborhood of Astoria. Right across the street from beautifully designed neighborhood park and community pool. Rarely found 3 CAR garage in this area. Roomy floorplan featuring a large downstairs living room with fireplace, Separate dining room off the entry and a large family room with fireplace off the kitchen. Upstairs is the master bedroom with large walk in closet and an large open deck and a large master bathroom.
Spacious home located on a quiet cul-de-sac!! The neighborhood is Hidden Hills in the exclusive community of Sterling Niguel. Visit the nearby parks. Large master with room for office area or sitting room, plus walk in closet. Separate living room with fireplace. Kitchen opens up to the family room with sliding doors to the backyard. Downstairs bed and bath. Home needs work but is priced accordingly. Imagine the dream!! Don't miss out on this
This adorable and newly refurbished one story home is a must see! Located at the end of the Morningside Ave in a quiet Santa Ana neighborhood, this super cute home features fresh neutral paint and white trim, all new windows, lighting, roof and insulation, laminate flooring in the main living areas and carpet in the bedrooms, a newly remodeled kitchen with brand new cabinets and all brand new appliances! Newly landscaped front yard and the
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 23rd, 2018 at 9:26pm 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.