Coto de Caza Bank Owned Homes

It's a buyer's market in real estate today, and although some areas are more deeply impacted than others, no community is immune. There are currently twelve bank owned properties on the market in Coto de Caza - three condos and nine single family homes. Asking prices range from $519,900 to $1,190,900. The LPSQ (list price per square foot) averages $274. That's a 30% discount from the $394 average for all non-REO homes on the market in Coto, excluding custom equestrian estates in Los Ranchos.

Let's take a closer look at three sample homes!

Bargain Condo in Coto

At the low end of the price range is this 1,695 square foot condo, with 3 bedrooms and 3 baths, and an attached two car garage.
$519,900 for a 3 bedroom condo

This cute condo in…

Buying REO Homes in Orange County - 4 Rules for Success

Tuesday, September 23rd, 2008 at 9:03pm. 355 Views, 0 Comments.

Rule #1: When buying an REO Home in Orange County, you must get pre-qualified by the bank that owns the property.

You may have a preferred lender - someone you trust that you've used in the past, or a friend you trust who's already pre-qualified you, but the bank that owns the REO home is probably losing money on the deal, and they'd like the opportunity to win your business. In some cases, the bank won't even look at your offer if you haven't been prequalified by them! The only potential downside for you is that having another lender "run your credit" may have a small impact on your FICO score, especially if you've already had several lender enquiries on your credit. Usually, the extra effor is worthwhile in that it increases your desirability to…

Foreclosures and REO Homes are Moving Like Hotcakes

Saturday, September 20th, 2008 at 1:11pm. 300 Views, 0 Comments.

Prices are Down and Orange County Homes are Starting to Move

Orange County home prices are down, but volume is starting to pick up, Distressed properties like short sales and bank owned homes are a big part of the action, but just how big? Let's take a closer look at some real estate activity over the last few days.

Five Days of South Orange County Action

Homes Listed This Week …

Type of Sale	Homes Listed	Sold the Same Week
Short Sale	120	53
Bank Owned	102	57
Non-Distressed

Interest rates plunge after Fannie and Freddie rescue

Thursday, September 11th, 2008 at 2:47pm. 334 Views, 0 Comments.

According to this week's Freddie Mac Primary Mortgage Market Survey, 30 year mortgage rates dropped almost half a point this week, to an average of 5.93%. What does this mean to you?

"Interest rates for 30-year fixed-rate mortgages are down almost 0.6 percentage points over the past 4 weeks, which will help to spur home purchases and loan refinancing in coming weeks," said Frank Nothaft, Freddie Mac vice president and chief economist. "This means that the monthly principal and interest payment on a new $200,000 loan is over $76 lower than a month ago."

As Real Estate blogger Matt Carter points out, this makes money cheaper, not easier - lenders are still applying stringent guidelines to applications.

Fannie Mae and Freddie Mac are both giant…

Equestrian Living in Orange County

Tuesday, September 9th, 2008 at 7:15pm. 4669 Views, 0 Comments.

As incredible as it may seem, there are quite a few properties in Orange County where you can still keep your horses and ride out into the regional park systems. This term “ride out” means you can ride out of your property and connect with something interesting to “ride through” – like tree shrouded trails through in Santiago Oaks Regional Park and Irvine Regional Park. Other great natural areas to check out are Caspers Wilderness Park, Riley Wilderness Park, and O'Neil Regional Park.

Orange Park Acres

Orange Park Acres is a very tight knit eclectic community comprised of avid horse lovers and others who enjoy the feeling of a home nestled on a large lot with lots of grounds surrounding them. The typical OPA lot is about an acre, some with…

September 2008

Bank Owned Home Deals in Coto de Caza