Orange County REO and Short Sale Property
Finding a deal on Short Sale and Banked Owned property can be surprisingly easy in Orange County. High real estate costs here often cause mortgage borrowers to default on payments, and either go to foreclosure, or sell quickly to avoid it. Slow property sales and level values in recent quarters have also made it harder to sell real estate and recoup losses. For sensitive investors, these market conditions are an opportunity to help struggling home owners get back to financial stability, and pick up a property for less than market value.
| Short Sale - Bank Owned Property listings | |
|---|---|
| Aliso Viejo | Laguna Niguel |
| Coto De Caza | Mission Viejo |
| Dana Point | Rancho Santa Margarita |
| Irvine | San Clemente |
| Lake Forest-Foothill Ranch | San Juan Capistrano |
| Ladera Ranch | Talega of San Clemente |
| Laguna Beach | Orange County Market Trends |
The REO and Short Sale Process
Short Sale and REO (also called "Real Estate Owned" or "Bank Owned") properties are everywhere in Orange County - in some newer communities these listings have accounted for as much as 50 per cent of the total market. Speculation and overdevelopment may be partly the cause, but Orange County is just one of many regions across the nation where a sharp drop in demand left behind a lot of unsellable real estate. As the market corrects itself, investors here will find a wide variety of Short Sale and REO properties in all price ranges.
While it's easy to find Orange County REO and Short Sale listings, a thorough understanding of the transaction process is key to finding the best deals. Short Sale and REO listings usually appear in the same place because of their relation to foreclosures, but they are very different. Short sales are typically initiated by a home owner trying to avoid foreclosure, while REO properties are managed by the bank or lender after a foreclosure. For this reason, investors/buyers deal exclusively through their real estate agent with the lender in REO transactions, and with both the lender and the home owner in a Short Sale.
Contact The Hartanov Team for more information on Orange County Short Sale and REO real estate.
Orange County MLS Property Search
Search the Orange County MLS by Map or Area for access to all available real estate listings in Orange County, California. Home Search allows you to view local properties at your convenience, save your favorite MLS listings for viewing at a later time, as well as receive updates on new listings daily.
