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Archive for December, 2008

logo5What will you change in the New Year?  So often we make resolutions in hopes of being the best person we can be and so we can live our best life.  This year many people will be resolving to be more financially secure.  For some this will mean lowering their monthly bills for others it will mean bringing in more income.  Why not do both?

Purchasing REO property is a great way to lower your monthly bills.2009  If you are in a mortgage that is stretching you to the point of discomfort or if your loan is about to reset to a number that is keeping you up late at night – stop worrying.  Call Island Advantage Realty LLC and let us show you REO properties that will keep you in home ownership status without keeping you up worrying.

If you are interested in making more money, why not consider purchasing an REO property for income opportunity.  There are many properties priced perfectly for renting. This is a great way to make a long term investment that can provide income for years to come.

Let 2009 be the year that you claim your path to financial freedom.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo5Wouldn’t it be nice if we could look into a crystal ball and know the future?  Then we would know for sure what the right course of action is in every situation.  It would be nice, but it isn’t possible.  What is possible is predicting what may happen in the future by looking at what has happened in the past.  I like to look at success as something that I can predict by looking at what has worked crystal-ballin the past.  I look at what successful people have done to guide my decisions so I don’t have to “reinvent the wheel”.

Ask any successful real estate investor what the key to success is and they will tell you it all boils down to “Buy low and sell high!”  Notice that the phrase isn’t “Buy at the absolute bottom and sell at the absolute highest!”  That would take a crystal ball to predict.  No one knows for sure where the bottoms and the highs reside until after they have passed.  We know the market is low right now.  Now is a great time to buy, especially REO property.  Don’t chase bottoms, strive for success.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo5This is a great time of year. When we aren’t consumed by the hustle and bustle of the Holiday season we are reminded about the things that are most important to us.  At this timepath of year in addition to gift giving I try to remember to thank people for the role they play in my life.  When you get right down to it our priorities usually center around the people who are important to us. Suze Orman always says, “People first, then money, then things.”  I whole heartedly agree.

One of the things I love about REO is the fact that it addresses all three.  REO property provides needed shelter for your loved ones, while saving you money and creating a long term investment. Owning a home is the single most rewarding “thing” purchase you will ever make.  When you buy a car, the new car excitement might last for a month, but quickly fades.  When you own a home it is a long love affair that is refreshed every time you cross the threshold.

Let Island Advantage Realty LLC help you to take care of your priorities by buying REO property.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo5There are many misconceptions about REO properties, here are some quick facts.

1. REO properties are generally less expensive than traditionally sold properties.  Banks sell them for fair marketShimmering Christmas Wrapping and Decorations value MINUS the cost to repair and restore them.
2. REO properties are available for inspection before you make an offer so you are always aware of exactly what you are buying.
3. REO properties are eligible for traditional financing.
4. REO properties are sold “As Is” and frequently need repairs, most often resulting from neglect. 
5. REO properties are currently available in a wide variety of price ranges, styles and neighborhoods.

If you are interested in purchasing REO property in the Metro NY or Long Island areas please call Island Advantage Realty LLC.  You deserve to work with the best.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo5Every home has a story.  I recently saw a home that has had a rocky road.  It is a lovely three bedroom, two story home with a large backyard complete with a rose garden and a row of bushes I am told bear raspberries.  At one time this home was the showplace of the quiet cul-de-sac it resides in.  The original owner was a woman who had a green thumb and loved to plant.  xmasAfter the death of her husband she poured all of her energies into her home, thoughtfully tending to the landscaping and dutifully maintaining the home. 

She sold the home to a young couple who looked forward to living in it and raising their family.  Three months after the couple took possession of the home the husband was laid off from his job.  For over a year the couple fought to be able to make their mortgage payment.  Every penny they had went to the mortgage, there was no extra money or time to tend rose bushes let alone perform daily maintenance on the home.  In the end the home was lost to foreclosure.  The couple attempted to do a last minute short sale but they had waited too long.  In the foreclosure process the home sat empty for over two months before going up for auction. 

By now the once beautiful showplace was overgrown with dead plants and was badly in need of some repair.  The now shabby appearing home failed to sell at auction and became REO property.  It is a sad tale, but a common one.  Fortunately this home will have a happy ending.  Soon there will be a buyer who will recognize that with only a small amount of work this home can quickly be restored to its former status.

If you are interested in seeing homes that are a great value please call Island Advantage Realty LLC. We are the recognized experts in REO property for the Metro NY and Long Island areas.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo4What legacy are you leaving to your children?  Often a legacy is more than just money or a property.  My Grandfather’s best friend was a lovely gentleman, whom we will call Sal.  Sal was a great family man and he believed in giving every thing to his family.  He worked hard in the family business and he made sure that his children had everything that they needed.  But Sal never bought a home.  earth1He wanted to.  According to my Grandfather, Sal would frequently talk about buying a home.  But something would always prevent him.  He was always convinced that the market was about to change and if he waited he could purchase a home for less money.  Sal died without ever buying a home.

The truly sad part is Sal passed his fear of fluctuating markets to his children.  I am certain that is not the legacy that Sal intended to leave behind.  The good news is the legacy has not been passed to the Grandchildren.  One of Sal’s grandsons called me just the other day and is interested in buying another REO property as an investment property.  This will be his fifth such property.

I can’t help but think how proud Sal would be of his grandson.  If you are interested in leaving a legacy to your children that provides income, stability and opportunity call Island Advantage Realty LLC.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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logo3Location is an important factor when considering REO properties.  In the past, when REO properties were not as plentiful, your choices for available properties would have been severely limited.  Not so in todays market.

Currently there are REO properties in nearly every neighborhoodMulti-coloured fixtures made of parchment and in every price range.  It is important to realize that this won’t last.  REO properties will always be available but the large and diverse inventory of REO properties that we are currently seeing is unusual and will not last. 

If you are interested in purchasing REO property, this is the moment to call Island Advantage Realty LLC. Don’t miss this opportunity.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

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