The bank-owned (REO) homes in South Orange County are still looking like the best values available. I picked out a list of about 15 that are seriously discounted below their last sale price. I am planning to resume posting my “Vic ‘s Picks” on a more regular basis – probably once per week. This week,…
I have been getting a number of calls or emails from buyers who think they want to buy a foreclosed home. After I ask them why they would want to do that, I usually hear “Because I want to get the most for my money and I’ve heard that foreclosures can be a real bargain.”…
I am getting a lot of calls lately with people telling me that they want to buy a foreclosure. Maybe it’s the mentality of the market, or the late night infomercials, but many people seem to think that foreclosures, by definition are a “good deal”. They might be or they might not! Foreclosures aren’t necessarily…
I just spent several days this week inspecting South Orange County REOs. The quality, condition and pricing run the distance from “Wow – pretty nice!” to “Gag – what’s that smell?” I saw a lot of REOs back in the mid-1990s and sold more than a few at that time. They also offered a wide range of…
An additional consequence of losing your house to either foreclosure or a short sale, is the potential tax liability. (As if you aren’t hurt enough!) The IRS has added a section to their website that helps explain it. You need to consult a tax professional to be sure, but this site gives you some information to start…