Carlsbad California bank owned properties since January 1st 2011 through August  have totaled 85. These are foreclosure properties  that were sold at court house steps. The process is first that the homeowner is served a notice of default, then the next step is that the lender sets an auction date in which investors show up and can make cash offers and if the investor makes an offer then the property is deeded to him. If no offers are made then the property reverts back to the bank and then the bank will assign a broker to list the property for sale. Buying property at the court house does involve some risks but if you know what you are doing then the risks are minimal.  Since January of 2011 the 85 properties break down as follows:

1.  31 single family properties reverted back to bank no offers
   
2. 17  sing family homes received cash bids and were deeded to 3rd party investors.
3. 24 condo’s were reverted back to the bank no offers
4. 13 condo’s received cash bids and were deeded to 3rd party investors. 

Click on the following links to see report of the homes that sold to investors or reverted back to the bank  since january in Carlsbad, California.

1. Carlsbad sing family homes that reverted back to bank
2. Carlsbad single family homes purchased by 3rd parties at auction
3. Carlsbad condo’s that reverted back to bank
4. Carlsbad condo’s that were purchased by 3rd parties at auction