Ladera Ranch Short Sale Report - Ladera Ranch Real Estate - October 14th, 2010
Looking to buy a short sale in Ladera Ranch? Good bargains are available if one knows where and how to look. Short Sales are one of the better opportunities for finding great value in Ladera Ranch.
Of the 178 homes for sale (117 detached and 67 attached) in Ladera Ranch as of 10/14/10, 92 are listed as short sales. 38 of the 92 active short sale listings are attached homes and the remaining 54 are detached single family residences. This provides a buyer with a multitude of choices and an excellent probability of purchasing below market value. Of the 178 homes currently listed in Ladera Ranch 12 are bank owned (this figure is up by 5 homes since last month's short sale report). Less variety but an even better opportunity to purchase below market value.
Short Sale Report - 10/14/10
A Short Sale is a home listed for sale by the current home owner, but the home is now priced at a point where the homeowner no longer has any equity. When sold the net proceeds will be less than the amount owed to the lender. The final sale price needs to be negotiated with the lender; the homeowner/seller will not receive any funds from the sale of the home. An astute and patient buyer will benefit from purchasing a short sale. Learn more about short sales.
A Bank-Owned (often called "REO" which means "real estate owned") is a home that is listed for sale by the Lender and is owned by the lender as a result of a foreclosure. This an excellent buying opportunity because the lender is very motivated to sell. Lenders do not want to own homes, they want to loan money. The carrying costs and risk of vandalism due to vacancy provide an incentive to the lender to move a bank-owned home quickly off of their books.