The mortgage meltdown has blighted neighborhoods with abandoned houses. In some cities, courts are now stepping in to hold lenders accountable for the mess foreclosure leaves behind.
Bank-owned list price: $1.4 million Estimated market value: $2 million Approximate price reduction: 30% Beds: 2 Baths: 2 Home size: 1,466 square feet Lot size: 6,500 square feet
Source: RealtyTrac and the Southern California MLS
By Prashant Gopal, BusinessWeek
The real homes of Orange County: Foreclosed
7786 Lorenzo Drive Huntington Beach, Calif., 92648
Est. opening bid: $1.45 million Est. market value: $2.07 million Approx. price reduction: 30% Beds: 3 Baths: 4 House size: 3,039 square feet Lot size: N/A
The real homes of Orange County: Foreclosed
2222 Holiday Road Newport Beach, Calif., 92660
Est. opening bid: $1.8 million Est. market value: $2 million Approx. price reduction: 10% Beds: 7 Baths: 5 House size: 4,600 square feet Lot size: 13,000 square feet
The real homes of Orange County: Foreclosed
6152 Eaglecrest Drive Huntington Beach, Calif., 92648
Est. opening bid: $1.32 million Est. market value: $1.5 million Approx. price reduction: 12% Beds: 3 Baths: 3 House size: 3,230 square feet Lot size: N/A
The real homes of Orange County: Foreclosed
219 Via Marfino San Clemente, Calif., 92673
Est. opening bid: $1.03 million Est. market value: $1.4 million Approx. price reduction: 26% Beds: 5 Baths: 5 House size: 3,586 square feet Lot size: 10,600 square feet
The real homes of Orange County: Foreclosed
947 Acapulco St. Laguna Beach, Calif., 92651
Bank-owned list price: $1.0499 million Est. market value: $1.5 million Approx. price reduction: 33% Beds: 3 Baths: 3 House size: 2,153 square feet Lot size: 2,500 square feet
The real homes of Orange County: Foreclosed
6860 E. Paragon Way Orange, Calif., 92867
Bank-owned list price: $734,900 Est. market value: $1 million Approx. price reduction: 25% Beds: 3 Baths: 2.75 House size: 2,250 square feet Lot size: 5,500 square feet
The real homes of Orange County: Foreclosed
27212 Galvez Lane Mission Viejo, Calif., 92691
Bank-owned list price: $723,450 Est. market value: $900,000 Approx. price reduction: 20% Beds: 5 Baths: 2.5 House size: 2,882 square feet Lot size: 5,985 square feet
Click here to see BusinessWeek’s full slide show on foreclosed homes in Orange County, Calif.
