Why Buy An REO Property?

An REO property is real estate owned by the bank, and many investors consider an REO property to be money just waiting to happen. An REO is different from a foreclosure property in that the bank has already tried to sell it at a foreclosure auction and has had no luck getting bids. Because the property was not bid on, the bank then became the owner of the property. Naturally, the bank does not want to keep the REO property any longer than possible, and this makes it a great opportunity.

Buy An REO Property

California And Eastern Sierra Communities Seeing Surge In Foreclosures

The Western region of the United States is being hit hard by another round of foreclosures, something many housing industry experts expected. This time around, 4 out of 5 Western states are experiencing a rise in foreclosures, but California is experiencing the greatest impact. Reports show that foreclosure starts in California alone are up by 70%, quite a surge and one that is being heralded as a prime opportunity for those looking for a second home.

Eastern Sierra Communities Seeing Surge In Foreclosures

Foreclosure Opportunities and Buying Bank Owned Properties

Where do most investors turn to when they seek bank owned properties and foreclosure opportunities? Sure, they take a look at free foreclosure listings or may even pay for sources of foreclosure listings in their target area. While these sources may lead to productive and profitable deals, they also require extensive research and knowledge of the market in order for an investor to tap into these foreclosure opportunities.

Foreclosure Opportunities in Mammoth Lakes

Foreclosure Market Trends for Mammoth Lakes and the Eastern Sierra

The following foreclosure market trends reports are provided by RealtyTrac, and provide relevant content and information on foreclosure activity in California and the Eastern Sierra. Highlighted are a 6 month California foreclosure trend chart and data comparing National, California, and Mono County foreclosures. There are also recent articles in reference to foreclosures and bank owned properties, as well as a handful of current properties in Mono County.

Foreclosure Market Trends for Mammoth Lakes

15 Recommendations For A Successful REO Foreclosure Transaction

There are several differences between real estate transactions of a bank owned REO property and a non bank owned property. When considering the purchase of an REO foreclosure, also referred to as bank owned real estate, there are simple instructions to follow for a successful transaction for all parties involved, including the Listing Agent, Buyers Agent, Asset Management Company, and the Buyer. These 15 recommendations are designed to assist you in understanding the expectations involved in purchasing an REO property.

Recommendations For A Successful REO Foreclosure

Guidelines for REO Offers and Escrows

These informational guidelines are for the REO purchasing process. They are not intended to be a binding agreement of any kind. The information contained herein is designed to create an informed Selling Agent and (potential) Buyer and reduce stress and ill feelings on all parties in the transaction including Buyer, Agents, and Asset Managers. Know the Reality of submitting offers on REO properties.

Guidelines for REO Offers

New Website Specializes In Mammoth Lakes Area Rich In Real Estate Bargains

Since the dramatic reshaping of the property market in the United States, many potential home owners have become aware of opportunities in desirable scenic areas that may have previously been outside their reach. Those looking for such properties often look to areas of natural beauty such as the eastern side of California in the Sierra Nevada mountain range. The town of Mammoth Lakes is known as a key resort destination.

Mammoth Lakes Area Rich In Real Estate Bargains

Finding the Best Deals on Foreclosed Property Listings

Everyone wants to save on real estate. The problem is, many people simply don't know how, or where to actually find those elusive savings. When you're buying on the open market, it can be truly difficult to come across unusually good deals. You might be able to win a home with a lower bid through a real estate agent, but if you're really looking for savings that will create lots of initial savings and maximum potential investment value, you have to consider the market for foreclosure properties.

Best Deals on Foreclosed Property Listings

Benefits of Investing in Foreclosed Real Estate

Investing in foreclosed real estate can be a highly lucrative investment option, and at the same time, purchasing foreclosed properties can be a great experience if you give enough time to educate yourself on the complexities of buying foreclosures in your local area or desired community. Home buyers looking for foreclosed homes, have the opportunity to buy homes at prices below market price, however it is important to understand the pros and cons of buying foreclosed properties.

Investing in Foreclosed Real Estate in Mammoth Lakes

Buying Foreclosures in Mammoth Lakes and the Eastern Sierra Communities

If you're looking for someone who can help you find the best deals available on all kinds of vacant land, condos, houses and residential real estate, turn to an agent or broker that specializes in foreclosures, short sales, and auction properties. Our knowledge of the local market will help you locate foreclosures in Mammoth Lakes and the Eastern Sierra communities that will amaze you! These properties are available throughout Inyo and Mono Counties, and anyone can learn how to purchase them.

Buying Foreclosures in Mammoth Lakes

What Are Bank Owned Foreclosures?

Bank owned foreclosures, also referred to as REO’s (Real Estate Owned), is foreclosed real estate that is owned by the bank due to an unsuccessful foreclosure auction. There are several reasons the home may have not sold at auction, however the most common reason is negative equity, as the home is worth less than the amount owed to the bank. Of course, the bank seeks to receive the outstanding balance of the original loan; therefore, the minimum bid for the bank owned foreclosure is usually the price owed plus any fees.

Bank Owned Foreclosures