Amazing Prices on Bank-Owned Properties
We can’t believe the amazing prices we’re seeing on bank owned (REO) and short sale properties. It’s the first time in the last five years that prices are looking good for real estate investment purposes.
Just to give you an idea, currently in the Old Town Tustin area there is a 3 bedroom home for sale for $350,000 and a 4 bedroom historic home for sale on a large lot for $535,000. Even one year ago these prices would have been unheard of.
And we’ve seen great deals in Central Orange County and North Orange County as well. We just closed a deal in Ladera Ranch for a beautiful 3 bedroom/3 bath home that sold for $500,000. The appraisal came in at $525,000 so our clients have an instant $25,000 in equity at closing.
If you’re interested in real estate investment now is the time to do some research. Prices are coming down and we predict they will continue to come down for at least another year or so. Contact us if you would like a list of homes that are in default, short sales or bank owned properties (REO’s) in your area of interest. We have access to all of that information and will gladly share it with you.