Bank Owned Homes For Sale In Foothill Ranch
Alternatively known as "foreclosures" or "REO Properties" bank owned homes usually offer the astute buyer the ability to buy below current market values.  Although Foothill Ranch was less hard hit than other nearby communities by the mortgage/real estate meltdown that began in 2007 a slow but steady supply of bank owned homes have been available to buyers.  Although it remains a "buyer's market" in Foothill Ranch the bank owned homes that have come on the market are generally priced well below market value and multiple offer scenarios have become common.  My advice on bank owned homes... analyze the comps well, calculate in needed/necesasry repairs, and make your best- highest offer first! It's not about getting a reduction in price... if the list price is already well below what comparable homes are selling for!  This is easily determined by doing a comparative market analysis which we provide to all of our buyer clients before they make an offer.  Bank owned... be ready to act quickly as only about 1 in every 7 listings are bank owned in Foothill Ranch (detached homes). You will likely be rewarded with a great price!  The numbers do not lie... the average sale price for a detached home in Foothill Ranch over the last 12 months (05/17/2010 - 5/16/2011) has been $547,855 (all home sales other than bank owned/REO).  The average sale price during the same timeframe for a detached bank owned home was $478,166; about 13% less.

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Orange County Real Estate > Foothill Ranch Real Estate > Bank Owned Homes Foothill Ranch