If you’re willing to investigate the REO housing market you will find that it’s chock full of exciting opportunities. It largely depends on how you choose to look at things. I’m a big fan of making the most of any opportunity, and I enjoy working with like minded people.
I recently showed a beautiful REO property to a couple who was looking for a new home. This particular property had a unique problem, the front porch was unusable. That might be putting it mildly. After a bad ice storm a delivery truck had spun out of control and sheared the front porch almost completely off, but it was still hanging there with yellow police tape surrounding it. Not exactly a great selling point, right? Except it was! The couple had looked everywhere for a property with a large old fashioned porch suitable for sipping lemonade on long summer nights. And they hadn’t found it, at least not in their price range.
After a quick phone call to their contractor, the couple was able to determine that after the demo on the existing porch they would be able to build the porch of their dreams on to an otherwise lovely home.
Not everyone can look at a crashed porch and see the possibilities but if you can you should consider looking at the REO market. At Island Advantage Realty, LLC we make a daily practice of helping people in the Metro NY and Long Island areas find affordable homes with great promise.
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
Making the Most of REO
July 10, 2009 by gabiarny
Posted in Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment | Tagged Buying REO, First time home buying, How to Purchase REO, Investment Real Estate, Island Advantage Realty LLC, Long Island REO, Metro NY REO, NY REO, Purchasing REO, REO, REO BASICS, REO Investing, REO Long Island, What is REO? | Leave a Comment
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