Bank Owned Homes under $500,000

After the great response that we got from the post on Monday in regards to Long Beach Condos under $200,000, we thought we would share about another price range and a different area here in Long Beach. For those interested in their first Long Beach Home and willing to do some work, here is your post! You can always use the Long Beach MLS to find out all the details, as we just summarize the best of the data here for you.

For the information here we searched Bank Owned properties under $500,000 in the Long Beach neighbhorhoods of Los Altos and the Lakewood Plaza and Rancho area. Again, we searched ALL properties, so these aren't necessarily our listings, but we always want to make sure you get the best deal in town.

You would think (according to the media) that there would be just tons of properties available, but actually there are just 3 homes available! So since there are just 3 I thought I would put up information about each of them.

This home on Studebaker is bank owned and requires that you pre-approve with Countrywide as well. It is 3 bedrooms, 3 bathrooms, and over 2,100 sq ft. It is in decent shape, but could probably use some updating. The lot is over 5,000 sq ft and you get a 2 car garage to store all of your stuff. It is listed for $464,900.

This home on Stearnlee is showing available. I will check to make sure if anyone is interested because at $450,000 and being a 3 bedroom, 2 bathroom, I almost doubt that there wouldn't be a few offers on this one (maybe someone hasn't updated the MLS as they should). With an 8,200 sq ft lot this is a heck of a deal if it is actually still available for purchase.

This cute home on Walton St is another 3 bedroom and 2 bathrooms. It is just over 1,200 sq ft and is on a 6,000 sq ft lot. It needs some love to bring it back to it's glory, but it is available for just $459,000 so it is well priced. They do state that they will not help with closing costs unless a full price offer is given. You have to be prepared to pre-qualify with Wells Fargo to get your offer accepted so be prepared for an extra step. It has been on the market for 33 days.

So contrary to the media you can see that if you want that deal on a Long Beach home you better act quickly. Get our Hot List of foreclosures if you want to make sure to stay on top of the best deals throughout Long Beach.