John Watson for Santa Cruz Real Estate - (831)428-3296: Foreclosures in Santa Cruz CA

Foreclosures in Santa Cruz CA

See All Foreclosures in Santa Cruz County Here

 

foreclosures in santa cruz

There are some great deals on foreclosures in Santa Cruz CA.  Being a coastal community, Santa Cruz, has not been hit as hard as some markets with foreclosures but we have not been completely spared from the hardships of the U.S. economy.  There are a few terms used to describe a home that has been foreclosed; Bank Owned" and REO meaning "Real Estate Owned."  Where the term REO originated I do not know... maybe I will Google it. 

A foreclosed home in Santa Cruz can be a great deal but in many cases be ready to get out your tool belt.  Foreclosed homes in Santa Cruz typically have deferred maintenance meaning that the previous owner did not keep up on general maintenance of the home.  I am not suggesting you don't buy a foreclosed home but make sure and obtain all inspections so that you will know exactly what it will take to make a house your home. 

Comment balloon 2 commentsJohn Watson • September 09 2011 01:24PM

Comments

I agree.  The buyer needs to be aware of the costs needed to make repairs to correct deferred maintenance conditions.  I like your link to the REOs.  Is it complicated to do that?

Posted by Lloyd Binen, Silicon Valley Realtor since 1976; 408-373-4411 (Certified Realty Services) over 6 years ago

yes they look so nice but Foreclosures are such tough on to stomach.

Posted by Paul Gapski, 619-504-8999,#1 Resource SD Relo (Berkshire Hathaway / Prudential Ca Realty) about 6 years ago

Participate