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In Monterey County, as with many other places around the country, has some foreclosures. The county is huge and the different communities and price ranges vary in each. Not many places are immune and you can find Monterey REO's and short sales in many areas of Monterey County.As of late 2012 we seem to be seeing fewer foreclosures and generally more short sales reflecting a trend of banks working with sellers to sell as a short sale instead of a foreclosure.
Read more about Monterey foreclosures, or see all Monterey bank owned homes for sale below.
Monterey Foreclosures- Bank Owned Homes Short Sales
|All Listings||$200,000 - $300,000||$300,000 - $400,000|
|$400,000 - $500,000||$500,000 - $600,000||$600,000 - $700,000|
|$800,000 - $900,000|
14 Search Results Found. Showing Results 1 - 14.
Beautiful home located in a Sunbelt.Large bedrooms and very large lot with decks and bbq area...
Old Monterey.Bay views,city lights.No through traffic,a stones throw to DLI back gate.Home...
Wonderful, private location on a 20,000 sq ft lot. Family room opens to Solarium and deck;...
Bay views from the spacious New Monterey 3 bedroom 3 bath home. Updated in 1996, this home...
Lot of potential, 2872 sf on large lot in great area. Private master suite, pool & massive...
Tastefully remodeled home, features hardwood and tile floors, newer roof, windows, electrical,...
Wow! 4 bedroom 2 bath Monterey home - centrally located and within a short stroll to Del Monte...
Only 6 years old and in move-in condition! Just a short distance to the Monterey recreation...
Cute family home in New Monterey. Flow outside to the spacious front yard and relax on the...
Beautiful condo with wood floors, maple cabinets, stainless steel appliances,Granite counter...
Contractor special. Cash only, no contingencies. Inspect carefully prior to making offer.
Monterey is a delightful seaside community with a rich history attached to the sea. While a prime tourist spot, it has its place in literary history. With the thriving Cannery Row and the world class Monterey Bay Aquarium, the area is a visual and visceral delight.
Real Estate Statistics
|Highest Listing Price:||$3,000,000|
|Lowest Listing Price:||$1|
Monterey Bank Owned Homes, REOs & Short Sales
Buyers looking for foreclosures in Monterey can search the Monterey MLS for foreclosed homes for sale. If a home goes to the foreclosure auction, if no one outbids the lender, then the ownership reverts to the bank, making the home an REO or bank owned home. Usually these homes will be available for sale at a later time. Transactions that occur before the foreclosure stage are known as short sales.Both are good opportunities for the investor or homeowner.
A short sale occurs when a home is sold for less than the amount still owed to the bank. Pre-foreclosure transactions like short sales can present a great opportunity for buyers looking for a good deal, for sellers who are looking to get out from under their mortgage, as well as for lenders looking to avoid the time-consuming foreclosure process.
Short sales are a bit of a process for buyers before the sale is final. Also, sellers still have a vested interest in keeping the home in good repair, as they usually live there. That said, short sales can take a very long time to complete, and there's no guarantee that the lender will approve the deal. Buyers looking for Monterey short sales are wise to talk to a REALTOR® who is experienced with these types of sales, so they know exactly what they're getting into.
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