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
Recently Reduced! 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
Welcome home to the city of San Clemente, and to the hills that reward the lucky few with Ocean vistas. The city is home to the former Western White House, great surfing, and perhaps the center of the media world for surfing magazine publishing. This four bedroom, four bathroom home features a formal dining room, formal living room, and a great room with views of the ocean comprised of the kitchen, breakfast area and family room. Other features
Immaculate custom home in the sought-after Santiago Canyon Estates community. Almost everything in the home has been remodeled and customized to provide the perfect blend of style, function and class throughout all 5 BR's and 3366 sq ft of luxurious living space. All custom furniture is negotiable in the sale. Classic entry courtyard and rich, mature landscaping greet you at the front door. Spacious entertainers kitchen with plenty of island
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
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.
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
Spectacular newer home in the best location in the tract. Beautiful medallion tile entry, granite countertops, walk-in pantry. Spacious master suite with 2 walk-in closets. There are 2 fireplaces, in the master suite and the family room. This home has crown molding throughout, custom paint and travertine floors in all rooms, recessed lighting and a beautiful maple staircase. The house is wired with surround sound and there is a Jacuzzi for
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
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. The downstairs has 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.
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.
This Mission Viejo 2100 sq ft, 4 bedroom and 2.5 bath home is nestled in the highly desirable neighborhood of Auburn Ridge. The lower level of this fantastic home is designed to flow well from the entry to the living/dining area then onto the open kitchen or family room which has a charming wood burning fireplace. A full size private laundry room with cabinets is also located on the first floor. Upstairs you will find the master bedroom with
Two story cul-de-sac home located in established Orange neighborhood. Home features wood flooring, brick fireplace, recessed lighting, interior shutter window covers, and open floor plan. Kitchen features ample cabinet storage, center island with flat electric cook top and overhead range hood, and tile flooring. Exterior features include an enclosed back yard, partially covered patio, and built in BBQ island. Located near shopping, dining,
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
Split Level Deane Home with private Pool & Spa in backyard. This home features a large living room, formal Dining Room and Hardwood Floors. The Family Room has a full wet bar & built-in bookshelves. Enjoy access to the backyard pool through large French Doors in the living room. The large master suite is light and bright and overlooks the pool and spa in the backyard. This is a great home for entertaining. Membership in the Lake Forest
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 opportunity to make this semi fixer your own! Good sized front and back yards. Added office in front has been converted to fifth bedroom without permits. Nice floor plan with living room and separate dining room. Great back yard possibilities. There is a washer/dryer closet in the kitchen. AC unit installed, but not working at this time. Great family neighborhood. Sold As-Is with no warranties expressed or implied.
TURNKEY!!! 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
Cosmetic fixer. Bring paint carpet and some minor repairs and this could be a real show place. dramatic tri level floor plan. 3 bedrooms on different levels. Master bath, kitchen and downstairs guest bath have been remodeled with lots of granite, custom flooring and new shower in master. Dual paned windows thru out. Tankless water heater. Newer AC and Forced air unit. A lot of square footage for the money.
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 August 14th, 2018 at 9:25pm 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.