A couple of points of interest before you read this post:
- If you want to view the Pre-Foreclosures in the Santa Clarita Valley
- Click here if you want to view all of the Bank Owned listings in Santa Clarita Valley
Bank owned homes sell for much less than other homes, offering great opportunities for real estate investors. Bank owned properties, often referred to as REO properties, have already gone through the foreclosure process and are back in the hands of the bank or lender. While properties sold as short sales or sold during the foreclosure process are bargains too, the bank owned properties are selling for much less.
Today’s real estate investor is looking for the absolute best deal possible when it comes to buying real estate, and many see the best deals as distressed properties. While this can certainly be true from a monetary perspective right out of the gate, often distressed properties come with a laundry list of issues due to the fact that they are sold as-is.
The reality of realty these days is that distressed properties continue to represent a large percentage of real estate sales. There are many real estate professionals that specialize in distressed and bank owned properties. For the investor, buying these types of properties is best done when armed with knowledge, both of the local market and the home in question.