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Long Island Bank Owned Homes
Bank owned homes on Long Island are sparking the interest of many first-time homebuyers and investors alike.  At the height of the housing market, prices on Long Island were often times out of reach for the first-time homebuyer, and investors had a difficult time finding homes that they could purchase and rent out without having a negative cash flow. 
 
The increase of bank owned homes on Long Island has created a window of opportunity for many people, in particular the first-time homebuyer.  Until recently, many first-time homebuyers felt like they would never have the chance to own a home on Long Island, and started relocating to other parts of the country where homes are more affordable.  Plenty of people are still choosing this option, but a number of first-time homebuyers that want to stay on Long Island now have the opportunity to do so, largely because of the availability of bank owned homes.
 
This is an important development in the Long Island housing market, and it should have a ripple effect which eventually leads to a stronger housing market for the following reasons:
 
[1]        The biggest drag on the Long Island housing market has been the "bottleneck" that has occurred due to a ... more

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