Believe it or not there are still bank owned homes still coming on the market for sale in Ladera Ranch. A bank owned home is a home that's been foreclosed on because the owner has missed mortgage loan payments or stopped payments altogether. The lender/bank then repossesses the home to sell it in order to recoup the money it's lost from the home loan/mortgage. When the real estate market crisis hit in 2008 we started seeing a flood of bank owned home sales which was then followed by short sales. The real estate market in Ladera Ranch and southern California as a whole has completely rebounded since those tough days. Most home owners have equity in their properties again but there is still an occasional bank owned/foreclosure home coming on the market. So far this year there's been 4 bank owned home sale in Ladera Ranch. Currently, there are 2 bank owned homes for sale in Ladera Ranch. Both homes are luxury properties located in the gated community of Covenant Hills. Bank owned homes are an opportunity to buy a nice home for under fair market value.