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
Great Turtle Ridge location on a corner lot. This large 3,611 sq ft home offer ample space for any family. The Summit at Turtle Ridge has numerous amenities including two pools, spas, theater, clubhouse, cabanas, gym, play areas, picnic areas & scenic walking trails. This exclusive 24 hr guard gated community offers privacy and exclusivity that very few other communities offer in the area. Be a part of the Award Winning Irvine Unified
Prime location behind the gates at Ocean Ranch. Your chance to live in one of South Orange County’s premier guard gated communities just minutes from the beach! Enjoy stunning ocean views from this wonderful spacious 2 level home. This sprawling 6 bedroom home has it all. As you walk in you notice the wrought iron spiral staircase with vaulted ceiling featuring skylights for added natural light in the foyer. Office located downstairs with
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
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.
VILLA PARK CUSTOM ESTATE WITH VIEWS. NEEDS WORK. BUYER TO INVESTIGATE STRUCTURAL INTEGREGITY DUE TO NOTED CRACKING THROUGHOUT THE HOME AS WELL AS THE EXTERIOR. GATED DRIVEWAY. GATED POOL AND SPA WITH DETACHED POOL HOUSE.
**LIST PRICE IS MINIMUM BID PRICE** 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
This Beautiful Home features 4 bedrooms and 3 bathrooms on a huge lot with mature trees.One Bedroom & Bath downstairs. Large Master Bedroom and Master bathroom on 2nd Floor. Home needs some TLC & upgrades. Nearby Schools, Shopping, Restaurants & Freeways.
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
Great executive home, 4 bedroom, 3 bath, approximately 3600 sq. ft. with lots of upgrades. Built in early 2001. Large master bedroom; formal living room; den on 1st floor; loft on 2nd floor; and bonus room on the 3rd floor. Family room with fireplace adjacent to the spacious kitchen with generous cutting boards, butler pantry, kitchenette, and an additional dining area at the entry to the finished patio that offers the openness of being on top
Charming single family residence features four bedrooms and three baths with
three car attached garage. Large and open living room. Main floor bedroom and
full bath. Master bedroom with fireplace, wet bar, and large master bathroom and
retreat area. Close to shopping, theater, and freeway.
Beautiful Two Story Home in Highly Desirable area of Fullerton located on a Cul-de-sac. Walking Distance from Hermosa Elementary. Beautifully Upgraded and Remodeled with great open layout. Freshly painted inside and Out. Wood and Tile flooring through out the entire house. 6 Bedrooms, 3 and One half Baths. Kitchen features include open room, Island, Large Pantry, New Appliances, Quartz Counter Tops. There is a laundry area off the kitchen, An
This one has it all; location, pool and a great floorplan. Superbly located and nestled in the community of Aegean Hills is this wonderful and private two-story home. It offers 5 Bedrooms, 3 Bathrooms, a custom pool and spa with waterfall feature, open floor plan with one bedroom and full bath downstairs and updated gourmet kitchen. Enjoy your visit and make this your next new home. Close to the 5 freeway, shopping, and nearby restaurants. NO
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.
Charming multi level home located on small cul-de-sac street is ready for your creative touches. Home features, wood, tile and laminate flooring, two fire places, vaulted ceilings, chandeliers, natural lighting and several large rooms. Entry to the home is on the main level welcoming you directly into the living room. Stairs lead both downstairs to the kitchen and family room and upstairs to the bedrooms. Dining room features large sliding glass
4 Bedroom, 3 Bathroom Single Family Pool Home in the heart of Orange….Built in 1990 with an estimated 2,350 square feet of interior space. Convenience of downstairs bedroom and bathroom. Large open kitchen which opens to family room. Inside laundry room. Large master suite. Covered patio and built in BBQ. Great rear yard for entertaining. Close to everything.
PARKWOOD ESTATES POOL HOME. 4 BEDROOMS AND 2.5 BATHROOMS. LARGE BONUS/GREAT ROOM UPSTAIRS. LIVING ROOM WITH FIREPLACE/SEATING AREA. MASTER SUITE/RETREAT WITH FIREPLACE/SEATING AREA AND PRIVATE BALCONY. 3 ADDITIONAL SECONDARY BEDROOMS UPSTAIRS AND FULL BATHROOM. LARGE REAR YARD WITH PRIVATE POOL AND SPA. COVERED PATIO AREA. NEEDS A LITTLE LOVE TO GET THIS HOUSE SHINING AGAIN.ADJACENT/BACKS UP TO RANCHO CANADA ELEMENTARY SCHOOL. ACROSS FROM
Great investor opportunity to purchase in the highly desired El Camino Real. Single story home features 3 bedrooms, 2 bathrooms and is located on corner lot. Exterior features include a mostly enclosed front yard with mature trees and fully enclosed back yard with covered patio. Located near parks, schools, shopping, dining and easy freeway access.
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
Two story home located on corner lot features tall ceilings, large windows providing abundant natural lighting, open floor plan, and fireplace. Kitchen features tile flooring and counter tops, recessed lighting, dual under mount sink, and ample storage. Upstairs features a large loft and large bedrooms. Exterior features include large patio in back, vinyl fencing, and several built in planters. Located near Coto de Caza Golf & Racquet Club,
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 April 24th, 2019 at 3:57pm 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.