Foreclosure Listings in South Orange County

Foreclosure properties continue to lead the market in Orange County home sales.  In the last three months, 2,438 out of the 5,907 sales (41%) have been bank-owned properties! 

Sometimes, these homes are agressively priced to immediately attract buyers, which leads to multiple offers and results in selling for over the list price!  The average time on the market for these REOs is only 36 days – almost twice as fast as the average 69 days that non-REOs are taking. 

In order to buy one of these homes from a bank, you need to be pre-approved and non-contingent on the sale of any other property.  They also almost always require that you “pre-qual” with their selected loan officer.

With foreclosed homes making up such a large portion of our active real estate market, I’ve set up a new page on this blog where I will post the REO lists for each city in South Orange County.  If there is an area that I’ve left out, please let me know and I’ll send out exactly what you want!

If you aren’t looking for an REO, take a look at all the other properties available:
 Search ALL the homes for sale in the Southern California MLS  (there must be at least one that you like!)

Don’t miss the next exciting update to this blog – click on the envelope to be notified by email! 

 

Thanks for visiting!

 

Happy New Year 2009!

I can tell already that this will be a good better year for Southern California real estate.    To start off, it didn’t rain on our parade (Rose Parade) on New Year’s day, and our University of Southern California (my school) Trojans won their Rose Bowl game under sunny blue skies!  I think this is always a good start for the year, and like to think that all the people living in cold places will suddenly decide to move to California!

 

I’m still gathering all the statistics from 2008, and will be posting my final analysis along with my predictions for 2009 in the next few days.  I already know there were more total sales in 2008 than in 2007, but we were still under the numbers for an “average year.” 

I just updated my “Vic’s Picks” with the better valued foreclosed homes available today, so if you are looking for a bargain, start there.  Almost all of the properties on the list are offered at less than 60% of their last sale value! 

If you don’t like any of the foreclosures  You can Search ALL the homes for sale in the Southern California MLS  (there must be at least one that you like!)

Don’t miss the next exciting update to this blog – click on the envelope to be notified by email! 

 

Thanks for visiting!

 

Best Deals on Bank Owned Homes

The bank-owned (REO) homes in South Orange County are still looking like the best values available.  I picked out a list of about 15 that are seriously discounted below their last sale price. 

I am planning to resume posting my “Vic ’s Picks” on a more regular basis – probably once per week.   This week, the list features homes in Coto de Caza, Laguna Beach, Mission Viejo, Newport Beach, Newport Coast, Rancho Santa Margarita, San Clemente and Tustin.  These are all bank-owned and offered for somewhere between $200K and $800K below the last market sale price! 

If you would like to see the actual location on these, click on the little airplane, on the right side of the listing sheet, and it will give you an aerial view of the property.  Some REO agents provide very few photos, so this can help guess what the home may look like.  I’ve also noticed that several of them like to include shots of the bathrooms with the toilet seat up (one is even sideways!)   

If you have any interest in seeing any of these, please give me a call at (949) 457-0281, and we can go check them out together!

You can Search ALL the homes for sale in the Southern California MLS  (there must be at least one that you like!)

Don’t miss the next exciting update to this blog – click on the envelope to be notified by email! 

 

Thanks for visiting!