Morro Bay & Los Osos CA Bank Owned Market Update
For those looking for foreclosure bargains in the Los Osos and Morro Bay areas, you may be surprised to hear that the actual number of REOs (bank owned homes) in those cities has remained relatively low. Foreclosures tend to force the rest of the market down, and areas with fewer foreclosures have seen slower and more conservative price recessions than areas that were overloaded by foreclosures. Morro Bay and Los Osos have not had the foreclosure inventory that the beach communities in southern San Luis Obispo county have seen.
