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Foreclosure Process
The foreclosure process is a bank or other secured creditor (lender) selling or repossessing a parcel of property after the owner has failed to comply with the mortgage or deed of trust. Commonly, the violation of the mortgage is a "default" in payment of the promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal
costs.
REO / Bank Owned Property
REO or Real Estate Owned, is a class of property owned by a lender, typically a bank, after an unsuccessful sale at a foreclosure auction. A bank will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the bank will legally repossess the property. As soon as the bank repossess the property, it is listed on their books as REO - Real Estate Owned - and is categorized as an asset (non-performing).
Short Sale
A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower.
Foreclosed Properties
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Bank Owned/Short Sale
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1   | $134,000
Beds: 1 | Bath: 1 | Sq Ft: 633 | Built: 1973 | MLS ID: S691970 | Status: Back Up OfferGreat condo with large atrium patio. This is an upstairs unit overlooking the beautiful pond and fountain! It has a spacious living room, 1 huge bedroom and 1 bath. In the bedroom, there is a sliding glass door leading onto the private front patio. Other features include vaulted ceilings, wall AC, central heat, breakfast bar, mirrored closet doors and ceramic tile floors throughout. Kitchen has wooden cabinets, microwave, freestanding electric range, grbage disposal and laminate countertops. It also has a washer/dryer combo inside the unit. It is very close to the freeway, shopping and El Dorado park. Water and trash included in the HOA fee. Great association amenities include tennis, swimming pools & spas. |
2  | $165,000
Beds: 2 | Bath: 1 | Sq Ft: 850 | Built: 1971 | MLS ID: S691636 | Status: Back Up OfferBeautiful townhome in Stanton! It has 2 lovely bedrooms and one bath with 2 car detached garage with remote. Laundry in garage and a Patio between the unit. Bedrooms and living room are carpeted. |
3  | $229,400
Beds: 3 | Bath: 1 | Sq Ft: 1895 | Acres: 0.15 | Built: 1920 | MLS ID: S643179Large open floor plan for single level 3 bedroom home located on a cul-de-sac with alley access. Detached 1-car garage. Huge corner lot. Property needs TLC. Sold in is present condition. |
4  | $237,500
Beds: 2 | Bath: 1 | Sq Ft: 760 | Built: 1940 | MLS ID: S697328 | Status: ActiveInvestor's special with lots of potential. Home has several violations from city that will need to rectified by Buyer. Please see attached media section for more detail. |
5  | $255,000
Beds: 1 | Bath: 1 | Sq Ft: 781 | Built: 1987 | MLS ID: S685346 | Status: ActiveUpgraded one Bedroom one Bath Condo on Pacific Coast Highway! Steps from the Beach. Kitchen has Beautiful Granite Counters and Breakfast Bar, Nice Hardwood Cabinets, and Stainless Steel Appliances. Highly upgraded Bathroom with Marble Shower, floors, and walls. Has Vaulted Ceiling with Hardwood Floors in living room. Nice size Bedroom with Mirrored Closet Doors. The Pierhouse condo complex clubhouse offers Pool, Spa, Nice Barbeque Area, and has great view of the Pacific Ocean Huntington Beach Pier. Short walk to main street shopping and Restaurants. Underground parking. Nice Balcony with nice views at the back of the complex. |
6  | $264,900
Beds: 2 | Bath: 3 | Sq Ft: 1415 | Built: 1997 | MLS ID: S691967 | Status: Back Up OfferThis townhome is located in the exclusive community of Belterraza. It has 1415 sq ft built in 1997. This spacious condo includes 2 master bedrooms upstairs and a loft or an office which you can convert into a 3rd bedroom. Master bath includes double vanity and 2 large mirrored closet doors and balcony off of sliding door. It has a large sunny kitchen with wooden cabinets, burner stove with oven, dishwasher, garbage disposal and plenty of counter and storage space and eating area. This beautiful townhouse has a living room with fireplace, ceiling fans, vaulted ceilings, 2 car attached garage with laundry area, custom drapes and blinds, recessed lighting and a private backyard. Association has pool and spa. |
7  | $405,000
Beds: 4 | Bath: 2 | Sq Ft: 1493 | Built: 1962 | MLS ID: S693445 | Status: Back Up OfferThis beautiful one story home has 4 bedrooms and 2 baths with 1493 sq ft on a 6000 sq ft lot built in 1962. This amazing home has a 2 car attached garage, vaulted ceilings and a huge backyard perfect for entertaining. It has tile floors in kitchen, Granite countertops, wood cabinets, oven, burner stove, microwave and a kitchen island. The bathroom has tile walls and floors and all bedrooms are carpeted and have ceiling fans. Its carpeted living room opens to the kitchen and dining room. Also, it has a Laundry area in the spacious garage. |
8  | $449,200
Beds: 2 | Bath: 3 | Sq Ft: 1300 | Built: 2004 | MLS ID: S694560 | Status: ActiveREO. CORPORATE OWNED. GREAT LOCATION ON SUNSET ISLAND. SOME OCEAN VIEW FROM THIRD STORY WITH OPEN CONCEPT LIVING ROOM, DINING AREA AND KITCHEN. RECENTLY REHABBED. NEWER PAINT AND NEWLY INSTALLED CARPETING. TANDEM GARAGE AT ENTRY LEVEL. TWO BEDROOMS, TWO FULL BATHS AND A MEDIA ROOM OR DEN ON MIDDLE LEVEL. GRANITE COUNTERS KITCHEN, HALF BATH, DINING AREA AND LIVING ROOM ON THIRD LEVEL. SMALL BALCONY OFF KITCHEN AND DIN. AREA. ANOTHER SMALL BALCONY OFF THE MASTER BEDROOM. THIS CONDO IS CLEAN AND FRESH AND READY TO MOVE IN. NON-ACTIVE HOA. |
9  | $506,900
Beds: 4 | Bath: 3 | Sq Ft: 2280 | Built: 1976 | MLS ID: S682071 | Status: Back Up OfferHere is a beautiful two story home in Westminster. If you are looking for a home with everything, you found it. You have a beautiful tiled roof, double entry doors, cathedral ceilings, built-in book case and TV hutch (in Oak) in family room. It has a large wide kitchen with seating area. Fine oak wood handrails on the stairs. You have a seperate living room / dining room with lots of space for your family. |
10  | $549,900
Beds: 2 | Bath: 2 | Sq Ft: 1172 | Built: 1994 | MLS ID: S693317 | Status: Back Up OfferOwn this beautiful condo in Newport Coast! This amazing condo is located in a gated and private neighborhood. It has 2 bedrooms and 2 bathrooms with 1172 sq ft built in 1994. It has a 2 car attached garage with direct access. It has a Beautiful kitchen with tile floors, lots of storage, wooden cabinets, dishwasher, exhaust and granite countertops. It has a Living room with cozy fireplace, laundry area, walk-in closet, pool and spa. This condo is near shopping centers, schools and restaurants. |
11  | $592,100
Beds: 3 | Bath: 3 | Sq Ft: 2733 | Built: 1975 | MLS ID: S691892 | Status: Back Up OfferThis beautiful home has 3 bedrooms and 2.5 bathrooms with 2733 sq ft on a 7000 sq ft lot. It has a huge 3 car attached garage and a rec room used as a large bedroom. This amazing home has a spacious living room, a wet bar, covered patio, and a balcony. Other features include a walk-in closet, tiled bathrooms, formal dining room, 4 yr old roof, crown moldings, base boards and vaulted ceilings. The Kitchen opens to the family room with a cozy fireplace. Kitchen has tiled countertops, wooden cabinets, garbage disposal, oven and burner stove. Its huge backyard has a pool and BBQ which is perfect for entertaining. This wonderful home in Orange is close to parks, schools and restaurants. |
12  | $862,000
Beds: 4 | Bath: 4 | Sq Ft: 3630 | Acres: 0.47 | Built: 1978 | MLS ID: S644010Great location in this beautiful Wellington Estates community. Beautiful upgraded master bathroom includes, steam shower, spa tub, upgraded dual sink vanity, all wired for sound and TV. Huge walk in closet with drawer island, shoe racks, and tons of storage. Mid level bathroom also remodeled. Beautiful home with lots of potential. |
13   | $2,222
Acres: 0.22 | MLS ID: 21453545 | Status: ActiveThis lot was set up for donation. Not sure what is going to happen at this time |
14  | $2,700
Acres: 0.51 | MLS ID: LC114541 | Status: ActiveLarge lot located in gated community close to the clubhouse. Rolling terrain with oak trees. Common... |
15  | $3,000
Bath: 1 | Sq Ft: 471 | Built: 1974 | MLS ID: S667766 | Status: ActiveStudio unit in a Senior community, Building and community has restrictions of ownership, all buyer... |
16  | $3,625
Acres: 0.05 | MLS ID: K12034499 | Status: ActiveCorner Lot very close to highway 74. Commercial Lot. 0.05 acre parcel zoned C1 between the lake an... |
17  | $3,625
Acres: 0.05 | MLS ID: K12034504 | Status: Active0.05 acre parcel zoned R3 and between the lake and the 15 freeway. In the Country Club Heights area... |
18  | $4,250
Acres: 0.06 | MLS ID: K12034487 | Status: Active0.06 acre parcel zoned R2 and between the lake and the 15 freeway. In the Country Club Heights area... |
19  | $4,350
Acres: 0.06 | MLS ID: K12034513 | Status: Active0.06 acre parcel zoned R3 and near Hwy 74 between the lake and the 15 freeway. In the Country Club ... |
20  | $5,000
Acres: 0.15 | MLS ID: K12034440 | Status: Active0.15 acre parcel zoned R1 and near Railroad Canyon Elementary School between the lake and the 15 fre... |
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