This is an old post that resurfaced. I just checked and there are currently only 3 bank owned homes on the market in Laguna. One is a condo for $649,900, one is a single family fixer/tear down for $974,900 and the other is an 18,000sq' home on almost 13 acres for $17,900,000.
Other than that, there are only two properties in either Notice of Default/In Foreclosure or Short Sales, one in S Laguna for $575,000 and one in N Laguna for $2,975,000.
Bank Owned Properties appear to have significantly dried up. It seems the wholesale market deals are few and far between. I've also noticed the prices of real estate are starting to climb as well. If the financial crisis in Cyprus continues, it is likely that our interest rates will rise. So now would be the most affordable time to buy if you were thinking about it! If you have any questions about real estate in Laguna Beach of the South Orange County area, feel free to contact me at: firstname.lastname@example.org.