Orange County REO Homes – Great Deals for Buyers

Posted on March 10, 2008. Filed under: Orange County Real Estate |

We all know that Orange County real estate isn’t what it was a few years ago.  Not that long ago, sellers that hired a great realtor could ask basically whatever they wanted for their home and could watch it sell with next to no effort in just a matter of days.  That’s just not the case anymore – home values are down and with the slowing economy and credit crunch out there, buyers aren’t nearly as plentiful as they used to be. Of course the bad news isn’t all bad.  I mean, sure if you’re a seller, it’s a tough a market right now, but if you’re a buyer – especially one with great credit – now really is one of the greatest times for you to invest in a new home.

 

There are also more Orange County REO homes (which are bank-owned homes or foreclosures) available right now then you can imagine.  Lots of people have been unfortunately unable to pay their mortgage, which is leaving the banks with no option but to sell those homes at a heavily reduced rate in order to recoup some of their lost money.  And this, my friends, is really great for buyers!  REO homes are usually priced far below market value and with so many up for sale right now, the banks are taking pretty much any reasonable offer.  Of course there are definitely some things you should be careful of when buying an Orange County REO home, so I advise you to get the help of an Orange County realtor before you start your search.

 

If you want a list of current REO homes in the Orange County real estate market, shoot me an email at Angie@AskAngie.com or give me a buzz at 877-230-3211.

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    Orange County, CA Real Estate for hip first-time buyers and investors. Plus, fun things to know and do in OC.

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