There are some fundamental differences between foreclosure properties and REO properties. Foreclosure properties are generally sold at auction to the highest bidder. It isn’t always possible to view a foreclosure property before bidding on it. REO properties are foreclosure properties that failed to sell at auction.
Once a property becomes REO it is sold in much [...]
Archive for January, 2009
Foreclosure vs. REO
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 29, 2009 | Leave a Comment »
Respect and Neglect
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 28, 2009 | Leave a Comment »
One of the main misunderstandings surrounding REO property are their state of disrepair. Some REO properties are in deplorable shape, the vast majority are simply suffering from neglect issues. When you consider that the average home owner performs weekly upkeep on a home, it does not take very long for a home to show signs [...]
Finding Home
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 27, 2009 | Leave a Comment »
It’s so important in today’s economy to make wise financial decisions. The decisions we make today will stay with us for years to come. If you are still renting your home it is time to consider what your long range plans are. Any investor will tell you that the ideal time to buy a home [...]
The California Closet
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 26, 2009 | Leave a Comment »
Everyone has different needs. What is important and a sticking point to one person is of little consequence to another person. I recently had a client who was not sure if she could buy an REO property. She liked the concept of saving money on her home purchase, but she had very definite ideas about [...]
The Long Winter
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 22, 2009 | Leave a Comment »
Even before Ground Hog Day, I find myself longing for a break in the weather, some sign of spring. On those days I take the advice of Martha Stewart and pull out a seed catalogue and plan the garden that I will sow in the spring. From the time I was a small girl my [...]
Have it Your Way REO
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 21, 2009 | Leave a Comment »
Do you remember the old Burger King Commercial where they sang, “Have it your way” while people danced around and placed special orders? I always think of that when one of my REO clients really gets the idea that they can customize their new home to their own desires without ending up owing more than [...]
REO FAQS
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 20, 2009 | Leave a Comment »
Many people have expressed interest in REO Property, but there is still a great deal of confusion about what REO property is. These are regular homes in all types of neighborhoods. They are bank owned. In many cases they are homes that have sat empty for a month or more and are suffering from at [...]
Pride of Ownership
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 19, 2009 | Leave a Comment »
I remember when I was a kid, when ever one of my brothers or I would have a birthday, my father would take us into our bedroom, stand us up against the wall and draw a line on the wall where our head reached. Then he would have us step away from the wall and [...]
REO Made Simple
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 15, 2009 | Leave a Comment »
REO real estate is property that was foreclosed upon but did not sell at auction. It was returned to the Bank or Lender that held the mortgage and they now have the right to sell the property in order to recoup their investment.
One of the most important things to realize about REO property is that [...]
REO School
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment, tagged Foreclosure New York, Foreclosures Long Island, IARNY, Island Advantage Realty LLC, REO Long Island, REO New York on January 14, 2009 | Leave a Comment »
More and more people are offering courses on buying REO and Foreclosure properties. There are certainly plenty of things to learn about purchasing these properties; what concerns me is the amount of money that is being charged for these courses. The truth is that even if you take one of these courses you will still [...]
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