If you’re looking for information on Santa Cruz Foreclosures, you’ve come to the right place. Here we’ve collected all of the educational materials we’ve gathered over the years and put it in one place for your viewing, listening, and reading pleasure. When it comes to Santa Cruz Foreclosures and bank-owned homes, there are few people in the area with more experience than the folks at Realty World Virtuoso.
Are you interested in paying up to 50% less than market price for Santa Cruz Real Estate? We’re guessing that if you’ve found this page, the answer is YES! One of the best ways to accomplish that is to buy a property at some point in the Foreclosure process. There is a great deal of mystery surrounding the foreclosure process, but SantaCruzHomeBroker.com is here to help! We have compiled a set of resources that will be very useful to anyone contemplating acquiring real property in Santa Cruz County through the foreclosure process.
The best place to begin learning about how Foreclosures work in our county is to sign up to receive our exclusive Santa Cruz Foreclosure Report.
Most people who buy “foreclosure” properties do not buy them at an auction. Instead, they are purchased in a “short sale” before the property is foreclosed on, or purchased after a foreclosure from the bank (“REO” or Real Estate Owned property). Buying properties through the “short sale” process or as an REO can save tens or even hundreds of thousands of dollars off the retail market price.
REO Presentation in 2009
REO Presentation in 2008
Q&A from REO Presentation in 2008
Santa Cruz Foreclosure Trustee Sale, 2006
Podcast from WNKU Real Life Real Estate Investing 1-23-08 featuring Vena Jones-Cox
If you’re looking for information on short sales, these are what’s better known as pre-foreclosures. This is a situation where a homeowner is under water on the home (they owe more than they can sell it for, after the cost of sale), and they’re in distress (can’t make their mortgage payments for whatever reason). Often times when a homeowner is in this situation, they will seek to do a short sale, to avoid the foreclosure process.
A short sale is when a bank accepts a “short payment” (instead of a full payment) on a loan that is owed. Many people think that a short sale is a quick sale, but this is not often the case. Short sales often take much longer to close than a bank-owned REO foreclosure sale or a traditional equity sale.
This web page is focused on Santa Cruz bank-owned REO homes, rather than pre-foreclosure short sale homes.