No Comments

Best of Caravan- Los Osos, Morro Bay & Cayucos
Today’s best of caravan goes to the well priced 3 bedroom two bath home in Los Osos. Located within walking distance of the bay, it is a good value. Built in 1984, this property seems structurally sound, just needs some TLC and a bit of fixing up. This property is an REO, something that, not too long ago, was nearly non-existent in our area. Once know as an OREO, (Other) Real Estate Owned, an REO is a property that is owned by the bank, after a foreclosure. Because banks do not want to hold these properties very long, REO’s are often , though not always, priced well. REO listings allow you , as the buyer, to submit your offer with financing and inspection contingencies. Foreclosures on the other hand, require cash and do not allow for inspections.
Click for more info on this property

Even on our beautiful central coast- REO’s are beginning to crop up.

There are now 10 active listings on the central coast that are REO’s.
2 in Los Osos, 2 in Grover Beach , 2 in Arroyo Grande, 2 in San Luis Obispo , 1 in Morro Bay and 1 in Cambria.

There is one REO in escrow at this time- it is located in Los Osos.

There have been 15 sales this year that are REO’s. 9 in Arroyo Grande, 2 in Morro Bay, 2 in Los Osos, 1 in San Luis Obispo and 1 in Grover Beach.

(Best of Caravan is chosen by one of our team of local expert Realtors as the property that stood out on the weekly Broker’s caravan of new listings. If the photo is missing or the link doesn’t work, this mean the property is no longer available.)
Written by Keith Byrd - Go to Keith's Website/Profile