We all want to do the right thing, but sometimes it isn’t easy to know what the right thing is. It’s so much easier to look back and say, “I should’ve, could’ve and would’ve, if only I had known.” The truth is that none of us has a crystal ball or the ability to predict [...]
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Posted in REO BASICS, REO Investment, tagged Buying REO, IARNY, REO, REO BASICS, REO Investment, REO Long Island, REO NY, What is REO? on July 30, 2008 | Leave a Comment »
The papers and the internet are filled with reports about the growing foreclosure market. More and more people are beginning to report about REO properties as well. Still there is some confusion about what REO property actually is. REO stands for Real Estate Owned, it is some times referred to as Bank Owned. These terms [...]
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Posted in REO BASICS, REO Investment, tagged Buying REO, Foreclosure Long Island, Foreclosure NY, IARNY, Island Advantage Realty LLC, REO Investment, REO Long Island, REO NY on July 29, 2008 | Leave a Comment »
As late summer looms it is time to enjoy the bounty of the harvest. I love this time of year. Fruit and Vegetable stands are open for business and displaying all the lovely benefits of an early spring planting. Is there anything better than an heirloom tomato dripping with juice, ripe with flavor? I love [...]
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Reo Property is real estate that has been foreclosed upon, but did not sell at auction. Banks and Lenders will foreclosure on properties after a legal length of time when funds are owed to the lender and the home owner fails to satisfy the debt as per the original agreement set out in the mortgage. [...]
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Posted in REO BASICS, REO Investment, tagged IARNY, Island Advantage Realty New York LLC, REO Advantages, REO American Dream, REO Investment, REO Long Island, REO Metro NY, REO NY on July 24, 2008 | Leave a Comment »
We all know the American Dream, own a home, make a nice living, have 2.5 children and be able to afford to send them to a decent college.
Of course there are variations; a lot of Americans also want a million dollars. It’s not a bad goal. I view owning REO property as a way to [...]
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Posted in REO BASICS, REO Investment, tagged Buying REO, Foreclosures Long Island, IARNY, Island Advantage Realty New York LLC, Long Island REO, NY REO, REO Homes, REO repairs on July 23, 2008 | Leave a Comment »
I heard someone say the other day, “REO properties are those horrible gutted out properties, you don’t want to even look there, it’s a waste of time.”
Clearly, this was an overheard conversation. Anyone who even remotely knows me knows I am a huge advocate of buying REO property. But I love it when someone makes [...]
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Posted in REO BASICS, REO Investment, tagged REO BASICS, IARNY, REO Investment, REO Benefits, REO Long Island, REO New York, Island Advantage Realty New York LLC, Foreclosure NY, Foreclosure Long Island on July 22, 2008 | Leave a Comment »
I have a lot of cousins, but one of my favorites is my cousin Vinny. He took a lot of guff from his cousins when the popular movie “My Cousin Vinny” came out years ago, but he weathered it like a gentleman.
Vinny is an avid griller, you know the type, constantly marinating things finding new [...]
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Posted in REO BASICS, REO Investment, tagged Buying REO, First time home buying, IARNY, Island Advantage Realty New York, LLC, Long Island Real Estate, Long Island REO, REO Investing, REO NY on July 19, 2008 | Leave a Comment »
I don’t know about you, but I like to have things my way. I don’t want to buy a car and have a plush purple interior because someone else chose it. I want to pick my own color scheme. I guess that’s one of the reasons I love REOs.
I think that most of us would [...]
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Posted in REO BASICS, REO Investment, tagged Bank Owned, Buying REO, IARNY, Island Advantage Realty New York LLC, Long Island Bank Owned, NY Bank Owned, NY REO, REO on July 18, 2008 | Leave a Comment »
Today’s market is filled with Bank Owned or REO Property. These are properties that fell into foreclosure and then did not sell at auction. If a property does not sell at auction it reverts to the note holder, generally a bank or lender. The Bank then will list the property for sale in an effort [...]
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Once upon a time there was a family that longed for a home. Everyday they hoped and prayed for a home they could afford. Once many years before they had found a home that had made their hearts sing. Unfortunately, they were outbid on the home and another family moved into the house of their [...]
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