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Posts Tagged ‘Investment Real Estate’

Once upon a time in a land that was not so very far away there lived a house. The house was neither old nor new. It wasn’t a tiny house, but it wasn’t a palatial mansion either. The truth is the house was quite cute, but a bit neglected. His foundation was solid but his trim was worn and in need of paint. The carpet in his formal living room was worn and had an ink stain. Worst of all, his kitchen floor was covered with linoleum that was old and yellowing. He shuddered to think what people thought as they walked through his rooms. Were they able to see beyond his worn surfaces to see that he was structurally sound? Would they dismiss him because of the broken window on his second floor? Would anyone recognize his true value?

One day a family arrived and looked at the house with tender eyes. The mother saw where the vegetable garden once was and instead of concentrating on the dead weeds that covered the ground she envisioned the garden restored and providing fresh produce to her family. The father noticed the linoleum in the kitchen but in its place he pictured wide planked floors in deep cherry along with resurfaced kitchen cabinets. The children scurried across the worn carpet and imagined finding presents under the Christmas tree and stockings hung by the fireplace. The family looked at the house and saw its worth. The family bought the home and made it their own, applying loving touches here and there until the house was clearly cared for and cherished. They all lived happily ever after. Buying REO property doesn’t have to be a fairy tale. If you would like to view the REO properties currently for sale in the Metro NY, Long Island areas please call Island Advantage Realty, LLC. We are experts in the field of REO properties.

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
 
Island Advantage Realty, LLC specializes in Foreclosures and Bank Owned properties in the Metro NY and Long Island Areas. They are dedicated to educating home buyers about the home buying process in the Foreclosure and REO markets.

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logo5I enjoy working in the REO market.  I love being able to help families buy affordable homes.  I also love the creative people who buy REO properties and renovate and restore them.  REO properties are ripe with potential.  They offer a home buyer the ability to buy an affordable home and have the ability to create a distinctive and unique home.
 
Whether you need to create a handicap accessible space or you just have a unique design vision, REO properties offer and opportunity to make your home design20dreams a reality. daisyThere is nothing I enjoy more than see home owner’s faces shine with ideas for how they will make a space uniquely there own. 
 
The current REO market offers a wide array of possibilities in every price range, square footage and neighborhood.  If you would like to view REO properties please call Island Advantage Realty LLC we are experts in the REO market 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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logo6Are you ready to view REO property? It’s important to have the right mindset when shopping for REO property.  When you view properties that have been through foreclosure you need to be able to view them with an eye that is trained to distinguish between neglect and damage. flower-choice By the time a property becomes REO it has frequently sat empty for a period of time, sometimes even months.  Houses don’t like to be empty and they tend to show signs of neglect fairly quickly.  The thing about most neglect issues is that they are easily rectified and often for very little money.
 
As you go through an REO property you want to ask yourself how easily the damages can be repaired.  If you walk into a room with a giant stain on the carpet, it tends to be the thing you focus on, but new carpeting is very easily installed.  So as you view properties you want to spend more time looking at the structure and the floor plan, are they to your liking?  Remember that REO properties are offered for fair market value minus the cost of necessary repairs.  If you see damage note it, but instead of thinking of it as a negative, think of it as money deducted from the asking price.  That puts damages in a whole new light!

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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logo5Have you ever considered investing in real estate?  The current REO market has some exceptional opportunities available for long term investments and income properties.  It’s widely known in real estate that a great time to buy property is when the cost to own is less than the cost to rent.  The current market offers the possibility of owning for less than re nting, it also offers a large population who are looking to rent and unable to buy.  picket-fenceIt is an unfortunate reality in our current economy, but there are a large number of people w ho need to rent affordable housing.
 
With low interest rates and affordable REO properties available for sale, you could easily find yourself owning a property that can provide income now and financial security toward retirement.  Real Estate makes a great long term investment. Just ask the people who bought real estate during the recession in the early 80’s; even with the downturn in the market they have financial security because of their smart purchases.
 
If you are interested in viewing REO properties in the Metro NY or Long Island areas please contact us at Island Advantage Realty, LLC, we are the recognized experts in 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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logo4If 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. become-reo 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

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logo5More and more people are aware of the existence of REO property, but the #1 question I hear more than any other is “How do I find an REO property?”  There are many answers to this question, but let’s start with the easiest: work with an expert in REO real estate.  Of course, if you live in the Metro New York or Long Island areas you definitely will want to call Island Advantage Realty, LLC but if you are reading this blog from anywhere else in the world, you will want to find your local expert.
 
People will say to me, “But I have a really good realtor, can’t I just call them?”  Sure, you can, but if they aren’t an expert in the field of REO you could be risking your financial health.  sail-boatsIf you had a really good podiatrist would you call him when you were thinking of having surgery on your eye?  Certainly not!  We respect expertise for what it can do for us; it is the same thing in real estate.
 
An REO expert is someone who has been working with REO for multiple years, don’t be fooled by realtors who have recently run out to certify themselves REO Mac. Yes, those realtors will know the legal ins and outs of buying REO property, which is important, but they won’t have had time to develop relationships with banks and lenders.  This is crucial if you want to be able to see the full range of homes available on the market.
 
Banks and lenders do not enjoy owning Real Estate. Typically they don’t want to spend a great deal of time selling the property, nor do they want to make a huge fanfare about the fact that they own the property.  For this reason banks and lenders will work with a small number of realtors that they know and trust and will list their homes only with them.  You want to make sure you work with a professional who has access to those homes; otherwise you will miss the lion’s share of what is available in the REO property market.
 
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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logo5I had a young couple in the office the other day; they had come to Island Advantage Realty LLC because, as the wife put it, she wanted to “Stop the Insanity!”  In the last year both the husband and the wife had experienced unforeseen career changes and while they are both working their annual income have been reduced.  Their house payment has not been reduced.  As a result they have been functioning at a deficit each month which has been eating at their savings.

Part of their joint decision to “Stop the Insanity” has been to sell their home and to buy a REO property.  roads-of-the-world-173It wasn’t an easy decision to come to and both the husband and the wife were concerned about what kinds of properties would be available to them in their new price range. 

They were thrilled not only with the selection of REO properties available but also the prices.  At one point while we viewing homes the wife turned to the husband and said, “You mean we could live here and not have to go to sleep every night worrying about how we’re going to make the payment?”  The relief in her voice was evident.

If you are in a situation that is giving you stress, and you want to stop the insanity of paying too much for your monthly mortgage please give our offices a call.  We’ll be happy to show you what the REO market has to offer.

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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