The market is constantly changing and one thing that has remained the same is that a buyer never wants to pay more than what a property is worth. This is why so many home buyers elect to look for bank owned properties for the instant equity that can be found in these properties. With the rise in short sale bank properties, foreclosure and bank owned homes have taken a back seat in this local marketplace. Rarely do we see a large number of bank owned properties come on the market here in Laguna Beach, and the "shadow inventory" of foreclosure properties has never seem to materialize. For those who are familiar with the Laguna Beach terrain you will know that there is no better place to find contemporary architecture than Laguna Beach. The modern design fits right in with the landscape of Laguna Beach but finding a bank owned contemporary home can be hard to locate. We were encouraged today when we saw a contemporary modern home that just came on the market in the popular Laguna Village area that is well known for it's local shops and restaurants near the main beach. This foreclosure property is currently on the market for $1,200,000 and features ocean and canyon views. As with most foreclosure homes this is being sold "as-is" where the buyer is willing to purchase the property in it's current condition. There are a lot of home buyers in the Laguna Beach market that are looking for contemporary homes under $1,500,000 and this may be an excellent opportunity to seize a "good deal" in today's market. If you are interested in foreclosure and bank owned properties please contact us today for a full list. We know the Laguna Beach Real Estate market well and would love to assist you.