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where can I find a list of bank owned property in orange county california?

Public Comments

1. Go to your real estate agent and tell him/her to do a MLS list of bank owned properties. Be aware that most bank owned properties are not bargains.
2. Go to a real estate agent and explain what you are looking for. He/she can gather up a list of REO's for you within the specifications you want. Some are not real bargains as they may be stripped out, need paint and carpeting, repairs, etc. Others can be turnkey homes that are quite nice. All are selling for less than what they originally sold for. Many REO's are getting multiple bids now. And, even some new home builders are making a lot of concessions. I ran into one that was giving a 6% incentive which could be used for down payment, closing costs or buy down points. After we left, I got a call from their agent offering an additional $5k reduction. This new home is now in the same price range as many nice REO's. If you can, now is a great time to purchase to live in or as an investment. Personally, I think if potential buyers wait any longer for price lowering to continue, they will lose big time as interest rates should be back up in high 6% to low 7% by summer's end.