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
LUXURY REO...Live the luxurious yet laid-back Southern California lifestyle at this beautiful home in Ocean Heights. The exquisite property impresses with some of the best views in Orange County of the ocean, city lights, and mountains beyond. Enjoy this approximately 6,067 square foot estate in your guard-gated community that features four en-suite bedrooms (including one on the first level), plus an office that includes a closet and bath with
Feel as though you’ve escaped to the countryside in this highly desireable gated estate in "The Acreage" in one of San Juan Capistrano's most sought after equestrian neighborhoods. Just 10 minutes from the Pacific Ocean with quick i-5 freeway/ 73 tollroad access. This estate home features five bedrooms and five baths. Located at the end of a four home cul de sac with a lot size of just under 30,000 sf. Used brick and wrought iron
REDUCED! Located at the end of a secluded cul-de-sac,this entirely gated estate offers a grand, inviting interior with vaulted ceilings and limestone floors, a main level bedroom suite, an office and a backyard resort with a pool and spa. With a secure, private setting on approx.two acres and the potential for this home is limitless. A long driveway and a private motor court set the stage for the open and bright interior, which includes a foyer
Fabulous Cul-De-Sac Home in Highly Desirable Tustin Fields. Open Concept Gourmet Kitchen and Family Room Combo. Large Home Office. Oversized Master Bedroom and Bath Features a Relaxing Soaking Tub. Spacious Secondary Bedrooms. Guest Quarters with Private Entrance. Entertainer's Backyard with a Big Concrete Patio, Pool/Spa/Waterfall and Grass Area.
Northwood Estates in Irvine, Plan 4 of Camelia with optional studio and separate, private exterior stairs/entry. Viking Stainless Appliances, Granite Slab Counter w/ full splash & island in kitchen, crown, Marquis Cognac cabinetry throughout, optional deck off master leads to studio. Main floor bedroom and full bathroom. Master en suite upstairs with large walk in closet and bathroom. Private, gated community.
Craftsman style five bedroom, three bath home with almost 4,000 sf located in the GUARD-GATED community of Stoneridge. Remodeled three level luxury home on large lot with city lites views! Beautiful curb appeal with Flint stone hardscaping, professionally manicured landscaping and lush privacy trees. The Kansan model of D.R. Horton’s Grand Traditions has a two story ceiling formal entry with front staircase, travertine flooring, living room with
Welcome home to the city of Dana Point, and to the sought after community of Village at Dana Point. Located nearly ¼ of a mile from the harbor, the beach and headlands, you will need to wash the sand off your feet when you get back home! This is a two-story home configured with the main floor at street level and the second floor below grade. The main floor features the master suite, formal powder room, a large private office with custom
Welcome home to the community of Brighton Ridge located within the city of Laguna Hills, one of the newer cities in the county. But don’t let that fool you, for it has already established itself as one of the best places to live in Orange County. This is a Four bedroom, Three bathroom Single Family Home of approximately 4,000 sq. ft. featuring a grand foyer, laundry room, formal dining, a formal living room with a vaulted ceiling, a full wet bar
GREAT HOME IN ANAHEIM HILLS. CORNER LOT. LARGE OPEN FLOOR PLAN. 3 BEDROOMS, 3 BATHROOMS WITH A POSSIBLE 4TH BEDROOM UPSTAIRS IF YOU INSTALL A CLOSET TO THE BONUS ROOM. LARGE REAR YARD. CLOSE TO WEIR CANYON, ACCCESS TO THE 91FWY, PLENTY OF SHOPPING AND RESTAURANS NEARBY. DON'T MISS OUT.
Two story home located in established Buena Park neighborhood. Interior features include 4 bedrooms, 3 bathrooms and a fireplace. Exterior features include a drive through arched driveway with ample parking and mature shrubs adding a hint of privacy to the front. Located near Los Coyotes Country Club, Smith-Murphy Park, schools, shopping, dining and easy freeway parking.
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.
REDUCED! Four bedroom VIEW Castillina townhome located in the prestigious guard gated community of Covenant Hills. Freshly painted, new carpet, updated master bath counters, flooring and free standing tub. The HOA recently did some exterior painting. Indoor outdoor living with French doors in the living room opening to the spacious view backyard. Kitchen has a center island, wine refrig. and opens to a family area with a fireplace. There is a
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.
Located in the desirable area of Rancho Santa Margarita, this home offers 3 car garage and spacious interior, and is located on a cul-de-sac. Located just blocks from Lake Mission Viejo and several parks and country clubs. Must see! Won't last!
Single story home on huge 7,400+ sqft lot. Open floor plan! Add--on family room comes in handy for family or guests! Cottage in the
back yard makes a great office or play area. This house needs your finishing touches to make it a home! Family room add-on is
permitted. Highly desirable area of Costa Mesa located within walking distance to school. Conveniently minutes away from shopping,
dining, OC Marketplace and the 405/73 freeways.
Great REO opportunity for first time home buyers or growing families in sought after neighborhood! Upgraded kitchen and dual paned windows. Conveniently located close to freeways, entertainment, and shopping. Only a few minutes from Disneyland. Must see!
Single Level home with a spacious backyard. 4 bedrooms and one has direct access to the full bath, living room with a fireplace and glass doors opening to an enclosed patio room, kitchen has an eating area and glass doors opening to the side yard. The home has hardwood floors and lots of potential. Located near Knotts Berry Farm and has easy freeway access.
Distressed property with great potential. Four bedrooms, 2-1/2 baths plus bonus room and loft (4th bedroom has no closet). Good location in desirable Melinda Heights neighborhood. Property is in poor condition with significant plumbing issues and requires a cash buyer. Currently an REO but there is an unsatisfied first trust deed which will likely result in a short sale.
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 December 11th, 2018 at 8:53pm 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.