Orange County Bank Foreclosures and REO homes

orange_county_bank_foreclosuresOrange 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:

Here's a map of Orange County's REO ( Real Estate Owned or Bank Owned) Homes. Read more about  foreclosed homes or Orange County REO homes.

Orange County Foreclosures and Bank Owned Homes

All Listings $200,000 - $300,000 $400,000 - $500,000
$500,000 - $600,000 $600,000 - $700,000 $700,000 - $800,000
$800,000 - $900,000 $900,000 - $1,000,000 Over $1,000,000
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$29,995,000
 

2112 E Balboa Boulevard, Newport Beach

6 Beds, 10 Baths, 9,478 SqFt
This extraordinary one-third acre waterfront parcel situated across the harbor, possess a sweeping city light view of Newport Coast. Nearly ten thousand square feet of refined living area are centered around a Mediterranean courtyard that is dressed with mature citrus, olive trees and rose gardens. The home features a grand gallery corridor leading past the dining room, library and private theatre into the kitchen and family room in view of the
$6,800,000
 

59 Copper Creek, Irvine

7 Beds, 12 Baths, 10.5k SqFt
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 estate sized parcel, 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 from
$2,349,000
 

2856 Terry Road, Laguna Beach

4 Beds, 4 Baths, 2,598 SqFt
With a stunning 2008 renovation by Laguna Beach architect Drew Blake, this home has been tastefully updated with a 2019 vibe. Blake’s vision remains the same. With two expansive viewing decks overlooking iconic Victoria Beach, the lower level has three bedrooms, two and three quarter baths, and an open concept living room/kitchen with bi-fold doors providing fabulous outdoor living space. The entire second story is Master bedroom, with a huge,
$1,724,900
 

38 Coronado Pointe, Laguna Niguel

5 Beds, 5 Baths, 4,831 SqFt
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
$1,650,000
 

20510 Regal Oaks Drive, Yorba Linda

4 Beds, 4 Baths, 4,509 SqFt
Located on a secluded cul-de-sac street with an incredible flat usable yard with over 32,000 sq. ft. of land. Great City Lights Views! Rare opportunity to create your custom dream estate! Gated circular drive, 3 car garage, 4 bedrooms upstairs and an office downstairs that could be used as a 5th bedroom with it's own exterior entrance. The children's wing has a computer/play area. The grounds currently have a sports court, an empty pool &
New
$1,300,000
 

9812 Ryan Circle, Villa Park

5 Beds, 4 Baths, 4,513 SqFt
VILLA PARK SINGLE FAMILY BANK OWNED HOME. LOCATED ON A CUL DE SAC. NEEDS A LITTLE TENDER LOVING CARE TO GET THIS DIAMOND SHINING AGAIN. GREAT FLOOR PLAN. DOWNSTAIRS YOU WILL FIND - FORMAL LIVING ROOM AND DINING AREA. OPEN KITCHEN AND FAMILY ROOM AREA WITH FIREPLACE. INSIDE LAUNDRY ROOM WITH AN UPSTAIRS LAUNDRY CHUTE. 2 SECONDARY BEDROOMS. 3/4 BATHROOM WITH DIRECT ACCESS TO THE BACKYARD. 1/2 BATHROOM FOR GUESTS. UPSTAIRS YOU WILL FIND - LARGE
$1,150,000
 

1500 Irvine Avenue, Newport Beach

3 Beds, 2 Baths, 1,675 SqFt
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.
$1,085,000
 

2 Shepherd Court, Ladera Ranch

4 Beds, 5 Baths, 3,901 SqFt
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
$1,059,000
 

34 Parma, Irvine

5 Beds, 4 Baths, 3,107 SqFt
Built in 2001, this two story single family residence features five bedrooms and four baths with two car attached garage and covered rear patio. Balcony from master's bedroom. Fenced in yard. Kitchen with plenty of cabinet space which includes an island for extra counter preparation. Living room/dining room combo. Family room with fireplace. Master bedroom and bath with separate shower and soak-in tub. Carpet in all bedrooms.
$1,025,000
 

41 Blakemore Drive, Ladera Ranch

5 Beds, 3 Baths, 3,227 SqFt
Incredible value plus the LOWEST PROPERTY TAX RATE IN LADERA RANCH. Single loaded prime location next to a small pocket park. Elegant entry that opens into a large great room with vaulted ceilings, custom built-in entertainment center, fireplace and plantation shutters. Formal dining room with french doors that lead to the side yard. Over sized gourmet kitchen equipped with built in refrigerator, stainless steel appliances, granite counters,
$929,000
 

34 Maple Leaf, Mission Viejo

4 Beds, 3 Baths, 2,851 SqFt
This home is located in the exclusive guard-gated community of Canyon Crest. Private, Cul-de-sac Home features 3 bedrooms + office and an extra-large bonus room that can be a 4th bedroom, open floorplan with two-story soaring ceilings in Living room, two fireplaces (living room and family room), Travertine floors in extra-large family room, kitchen and all bathrooms, engineered espresso hardwood in all bedrooms. The gourmet kitchen boasts
$863,500
 

3020 Calle Juarez, San Clemente

4 Beds, 3 Baths, 2,818 SqFt
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.
$849,950
 

8192 22nd Street, Westminster

4 Beds, 3 Baths, 2,010 SqFt
CALLING ALL INVESTORS!!!! Centrally located in Westminster. Close to fwy, shopping, and dining. This is a Triplex with two units identical. Unit A is 1 bdrm/1bath, Unit B is 1 bdrm/1bath, and Unit C is 2 bdrm/1bath. This could be your next investment. Call me for details!
$798,900
 

5709 E Bryce Avenue, Orange

4 Beds, 3 Baths, 2,881 SqFt
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
$695,000
 

24182 Spartan Street, Mission Viejo

3 Beds, 2 Baths, 1,540 SqFt
Hurry to this amazing 3 bedroom, 2.5 bath pool home listed by HUD. This home has a great open bright one story floor plan with french doors from the dining room for dinners al fresco in the awesome Orange County climate. The home has an amazing entertainer's backyard with decking, pool, spa and BBQ area with views of the local hillsides. The yard is elevated higher than most neighbors so it offers privacy. There is lots of potential in this
New
$679,900
 

3711 W Balboa Boulevard, Newport Beach

2 Beds, 2 Baths, 737 SqFt
Location, Location Location. Lower Unit Condo in a 2 unit condo complex that is a short walk to the beach. Courtyard facing local park. comes with 2 tandem parking spaces in shared covered garage. Great potential for buyer willing to do their own home improvements. Very convenient to public transportation and local stores, eateries and entertainment. Enjoy all the local water activities and tours. Beach and pier very close by.
$660,000
 

1014 W Orange Road, Santa Ana

3 Beds, 2 Baths, 1,614 SqFt
Investor Opportunity! Offering a 3 bedroom, 2 bathroom home in Orange County, with nearby shopping and dining, and just blocks from major freeways, as well as being with 1 mile of two different shopping malls. This one won't last! Must see!
$613,600
 

619 S Macduff Street, Anaheim

4 Beds, 2 Baths, 2,151 SqFt
Located in West Anaheim. Needs some work. Cul-de-sac location, large 10,290 square foot lot with in ground pool. Downstairs floorplan: living room with fireplace, kitchen, bedroom, 3/4 bathroom and bonus room. Upstairs floorplan: 3 secondary bedrooms, full bathroom.
New
$574,800
 

7902 La Casa Way, Buena Park

3 Beds, 2 Baths, 1,695 SqFt
Built in 1955, this charming corner lot single family residence features three bedrooms and two baths with two car attached garage and front covered porch. Living room entrance with dining area combo. Hardwood-like flooring throughout. Family room with brick fireplace. Kitchen with plenty of cabinet space and breakfast area. Laundry hookups. Bedrooms with carpet and ceiling fans. Gated back yard with covered patio.
$503,500
 

24272 Airporter Way, Laguna Niguel

3 Beds, 3 Baths, 1,419 SqFt
Welcome home to the city of Laguna Niguel, and to 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 three bedroom, two and one half bathroom condominium that lives like a single-family home. You will appreciate the end unit location situated on the perimeter of the complex, as the patio faces West and provides Panoramic views of

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.

Bank Owned homes for sale in Orange County CAOrange 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 24th, 2019 at 6:37pm 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.