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reo investment: When Would Now Be a Good Time to Buy REO, The NY Foreclosure Report - 02/16/10 09:17 AM
Written by Gabriella for Island Advantage Realty
I have a good friend who likes to ask me, "When would now be a good time?" She says this whenever I am putting something off or stalling on some important task. "When would now be a good time?" she asks me when I say I want to treat myself to a day at the spa. "When would now be a good time?" she persists when I say that I really need to make an appointment for my yearly mammogram. The question is clever because it cuts to the heart of the matter, there … (1 comments)
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reo investment: New York Foreclosure and REO Markets, The NY Foreclosure Report - 02/16/10 09:07 AM
Written by Gabriella for Island Advantage Realty
Have you looked at what the REO market has to offer lately? If you haven't, you really should. Imagine finding out that the home of your dreams is available in your price range and for a limited time you could buy it and receive a sizable tax credit. Thousands of Americans are finding that this is the current reality of the REO market. At Island Advantage Realty, LLC we deal primarily with properties in the metro New York and Long Island areas, and we are seeing a tremendous influx of happy home buyers.
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reo investment: Foreclosure Vs REO, The NY Foreclosure Report - 02/10/10 06:18 PM
Written by Gabriella for Island Advantage Realty, LLC
Clients frequently ask me what the difference is between a foreclosure property and REO property. Foreclosure is a term for a lengthy process during which a bank or lender seeks to regain their investment on a property that is no longer satisfying the terms of its mortgage. During the process of foreclosure home owners are sometimes able to sell the home traditionally. When that happens the foreclosure stops, the bank receives payment on their loan and all parties are satisfied. Sometimes at the end of a foreclosure process a bank will agree to … (0 comments)
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reo investment: The New Year's Resolution, The NY Foreclosure Report - 01/29/10 10:36 PM
Written by Gabriella for Island Advantage Realty, LLC
This year as you make your way through this first month of the last year of this decade in a new century, you may find yourself thinking about where you are in life and where you would like to be. Your thoughts may be on career and finance, you might be thinking about resolving to quit smoking or to start a new exercise program. New Year's Resolutions are meant to improve the quality of your life. That is why this year I think everyone should resolve to buy REO property. Think about it, what would add more quality … (0 comments)
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reo investment: Renting REO Properties - 10/27/09 10:43 AM
Written by Gabriella for Island Advantage Realty, LLC
Two years ago Jan was a stay at home mom with two small children. Her husband Dan had a great job and they were in the enviable position that Jan didn't need to work in order to help support their family. Then out of the blue Dan's job was outsourced to another country. As quick as the snap of a finger the entire plan that Jan and Dan had for their lives and their children's lives changed. Jan thought about going back to work, but she mourned the loss of watching her children … (0 comments)
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reo investment: The Recipe for a Good Life - 06/26/09 09:34 PM
Written by Gabriella for Island Advantage Realty LLC
My Aunt Tova is an incredible cook. She has a recipe for Raspberry Cheesecake that could end wars, and the things she can do with a brisket and a can of Coke...let's just put it this way, I could be killed for saying more. I've always loved to watch my Aunt Tova in the kitchen, to her cooking is a contact sport. There are no measuring cups in her house; everything she does is by feel. "Gaby!" She says to me, "You don't need to measure a teaspoon of salt; you just feel … (0 comments)
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reo investment: The Long Winter - 01/29/09 09:32 PM
Written by Gabriella for Island Advantage Realty LLC
Even before Ground Hog Day, I find myself longing for a break in the weather, some sign of spring. On those days I take the advice of Martha Stewart and pull out a seed catalogue and plan the garden that I will sow in the spring. From the time I was a small girl my grandmother trained me in the joys of having a garden that offered both floral beauty and an abundant harvest of summer vegetables.
It was my first lesson in the power of investment, those gardening lessons. The garden had … (0 comments)
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reo investment: REO Madness - 01/19/09 09:33 AM
Written by Gabriella for Island Advantage Realty LLC
As the New Year begins and the new administration prepares to take office there are many investors who are scurrying to purchase prime REO properties before any potential legislative changes can staunch the ever increasing flood of REO properties entering the market.
If you are interested in purchasing an REO property this is certainly an advantageous time to see what is available on the market. AtIsland Advantage Realty LLC, we take great pride in helping our clients to find the ideal property for their needs. We are the industry leaders in REO and … (0 comments)
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reo investment: Living in Your Piggy Bank - 10/03/08 06:44 AM
Written by Gabriella for Island Advantage Realty LLC
My Aunt Natasha always used to say that owning a home was like living in your piggy bank. When I was a kid that didn't sound like much fun, my piggy bank was cute but small. Now I understand what she meant, when you rent a home your monthly payment simply disappears into thin air (actually it just gets deposited into someone else's account) When you own your own home the money that you pay actually help you to build a financial future - so you are (in a sense) living in your … (0 comments)
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reo investment: It's All in the Family - 10/03/08 06:38 AM
Written by Gabriella for Island Advantage Realty LLC
I'm a big believer in family. I have a huge, close family and we believe in helping each other whenever possible. But there are times when I don't advocate having your family help you. If you break your leg, you're not going to ask your cousin Vinny to set your leg unless he happens to be an orthopedic surgeon, in which case he'd be your first call.There are some times in life when you just have to have an expert. Many people don't realize it but real estate, especially REO real estate, is … (0 comments)
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reo investment: REO in Black, White and Grey - 10/02/08 06:56 AM
Written by Gabriella for Island Advantage Realty LLC
The older I get the more I see that there is very little in life that is really black and white. In reality there is actually more grey area than anything else. My nephew loves video games; my mother thinks that they are horrible and that children should be forbidden to use them. The truth is somewhere in the middle, I think. There are video games that are inappropriate for children, I think we are all in agreement about that, and then there are some video games that have clearly demonstrated the ability … (0 comments)
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reo investment: REO FAQs - 09/29/08 09:09 PM
Written by Gabriella for Island Advantage Realty
The REO market is booming in the Metro NY, Long Island area right now. Despite the publicity that this huge market is receiving now, there is still some confusion among the general public about what REO property really is. Here are some frequently asked questions and my answers:
What is REO property?REO stands for Real Estate Owned, this is a term for property that has been foreclosed upon and failed to sell at auction. The bank or lender now owns the property and will look to sell it for fair market value minus repairs.
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reo investment: Gutted and Gorgeous - 09/29/08 09:01 PM
Written by Gabriella for Island Advantage Realty LLC
First, let me say that at Island Advantage Realty LLC we deal with a wide range of REO property, most of which needs only minimal repair work. Occasionally, we will get a property that has more extensive damage that will actually need a very specific investor who is actually looking for a home to basically gut and start over.
I was talking to a colleague in another part of the country the other day and he was sharing a story about just such a home and just such an investor. It was such … (0 comments)
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reo investment: Summer's End - 09/26/08 09:30 AM
Written by Gabriella for Island Advantage Realty LLC
Where has the time gone? It seems like just yesterday it was the Memorial Day Weekend and the long summer was stretched out in front of us like a pristine sandy beach with no footprints in it yet. And now despite the fact that there are weeks of summer left. Time flies. I hope you'll take a moment to reflect on how quickly time passes and how much can change in just a short time. We are at a unique juncture in the real estate business, one unlike any other. R Right now … (0 comments)
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reo investment: Renting vs. Buying - 09/25/08 01:38 PM
Written by Gabriella for Island Advantage Realty LLC
To everything there is a season, including renting and buying. I am a fan of Suze Orman who is a very straight shooter about telling people what they can afford and what they can't afford. Many is the time that I have seen her tell someone that they simply can't afford to buy a car or a house or a new pair of shoes. It's not that Suze is against buying, she's about fiscal responsibility and looking rationally at what your circumstances are. I saw her take a young woman to task the other day … (0 comments)
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reo investment: Fixer Upper vs As Is - 09/25/08 01:26 PM
Written by Gabriella for Island Advantage Realty LLC
It's not unusual to see a real estate property defined as a "fixer upper". There is an entire market of people out there who would prefer to buy a "fixer upper". Why? Well, generally a fixer upper will be offered at a discount. The seller acknowledges that work will have to be done to the home and that they will not be able to get the same price as a home that does not need to be fixed up. A home owner can buy the home at a discount and then make the … (0 comments)
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