REO Properties
June 11, 2008
Bank Owned Homes
Bank owned homes are houses which have been returned to the bank due to foreclosure. Before real estate is returned to lending institutions there must first be an attempt to sell the property through a foreclosure auction.
Oftentimes, bank owned homes are worth less than the balance due on the mortgage note. This frequently stems from the fact that previous homeowners have creditor or tax liens attached to the property. In some instances, there may also be second or third mortgages financed against equity the borrower had accrued through their home.
Real Estate Investing article on "Bank Owned Homes"
May 22, 2008
Century 21 Real Estate: Buying Bank Owned Foreclosure Properties
Century 21 Real Estate is the world's largest real estate sales organization. They work with both buyers and sellers not only in the United States, but worldwide. Century 21 agents are Independent Realtors and many specialize in bank owned foreclosure properties.
Several Century 21 Real Estate agents list bank owned foreclosures directly on their website. It's important to realize that bank owned foreclosures are different than foreclosure properties sold through auctions.
Real Estate Investing article on "Century 21 Real Estate: Buying Bank Owned Foreclosure Properties"
April 17, 2008
Bank Foreclosures: Evaluating the Risk Before You Invest
Bank foreclosures offer investors the potential to make a hefty profit, but they also carry a tremendous risk. Before investing in real estate owned properties, it's imperative to conduct research to fully understand the process involved and weigh the pros and cons.
When foreclosure homes are not sold at auction, they are returned to the bank. Also known as real estate owned (REO), bank foreclosure properties are sold directly through the lender. Most banks want to sell REO properties as quickly as possible. However, this does not mean they are eager to sell them for less than is owed on the mortgage note.
Real Estate Investing article on "Bank Foreclosures: Evaluating the Risk Before You Invest"
March 03, 2008
Types of Homes for Sale
When looking at homes for sale, there are many options to consider. Are you looking for single family residence home or multi-family real estate such as a duplex or apartment building? Are you looking for a fixer-upper home or a brand new home that requires no additional work?
Many homes for sale are being offered as FSBO (For Sale by Owner), which may or may not be the best choice for you. Others are offered as REO (real estate owned) foreclosure homes, while other homes for sale are offered directly through a real estate agent.
Real Estate Investing article on "Types of Homes for Sale"
February 27, 2008
Does REO really mean Real Estate Owned? Bank realestate owned properties are hot prospects.
REO is the latest buzz word in today's real estate industry. REO stands for Real Estate Owned; meaning the property is owned by the bank. Before property reverts to the bank, an attempt must be made to sell it through a real estate foreclosure auction. This is an important fact to keep in mind.
Many people think REO properties are dirt cheap, but this is rarely the case. Realize that foreclosure homes have no equity and an inflated mortgage. In other words, more money is owed on the note than the house is worth. This is the main reason they don't sell at auction.
February 20, 2008
Florida Real Estate
Florida real estate is some of the most highly sought-after real estate on the market. It's no wonder. Known as the Sunshine State, Florida offers more than 1100 miles of coastline, 660 miles of beaches and an abundance of outdoor recreation opportunities; particularly golf.
Much of the real estate available in Florida is situated in exclusive gated golf communities. North Florida boasts nine exquisite golf communities including Amelia Island Plantation located on Amelia Island; Augustine Island of Palencia, Legacy Trail and World Golf Village located in historic St. Augustine; and five golf communities in Palm Coast.
Real Estate Investing article on "Florida Real Estate"
February 09, 2008
REO Properties
REO properties include real estate which is owned by the bank. Properties can include single-dwelling homes, multi-family dwellings such as duplexes or apartment buildings, commercial property, farms and vacant land.
A common misconception is REO properties are sold for pennies on the dollar. This is typically not the case. Banks want to recoup their losses and at least break even on their investment. Therefore, most REO properties are sold for the amount due on the note. Currently, few banks accept less than ninety-five cents on the dollar. However, as foreclosure rates continue to escalate, banks will be forced to accept lower amounts in order to liquidate their inventory.
