Reo – Foreclosure properties in Seaside, Ca.

The sale of foreclosures also know as REO’s or bank owned properties in Seaside, California (on the Monterey Peninsula is hot!  As of the end of last week 56% of the houses under the $400,000 price range were in escrow.  If you dropped even lower to $300,000 and under (yes there are homes in this range), then 73% of the homes were in escrow. 

It has now become a bidding war much of the time for these properties which are often selling for 50 to 60 cents on the dollar compared to 2005 prices.  In order to make an offer on one of these homes you need to be fully pre-approved by a lender or be able to pay cash for your purchase.