Long Island Bank Owned Homes ~ New on the Market ~ Week of 6/20/08

Long Island Bank Owned Homes - Weekly Update: 

The list of the bank owned homes that came on the market on Long Island during the previous week is updated every week.  The week begins on Friday and ends on Thursday.  By using this schedule, it allows me to provide the updated information in time for buyers to plan their weekend home viewings. 

Many prospective buyers of bank owned homes have questions about the process.  If you are interested in purchasing a bank owned home, and have any questions about the process, please feel free to leave it in the comment section of this post, or you can contact me directly.

QUESTION OF THE WEEK:

QUESTION:  "Are bank owned homes good for first-time homebuyers?"

ANSWER:  It depends.  If you are a first-time homebuyer, there are a few things to know before looking at bank owned homes.  First of all, most bank owned homes are going to be somewhat in disrepair.  Even if you are very handy, and can do the work yourself, you must take into account the materials that you will need to make home repairs.  If you are struggling just to put a downpayment on a home, you may be better off finding something that is in move-in condition.  Some bank owned homes are in move-in condition, and only need some small cosmetic repairs.  You should also realize that not all bank owned homes are heavily discounted, so proceed with caution.  It is a good idea to work with a buyer's agent so that your interests are represented.

The bank owned homes listed at the bottom of this post came on the market between 6/13 - 6/19/08.  Beyond this list, there are a number of other bank owned homes available as well.  If you are interested in bank owned homes, please feel free to contact me, and I will do a search based on your specific search criteria. This information is posted on a weekly basis.  You can check back regularly, or if you'd prefer, you can contact me and be put onto a list of people that receive this update via e-mail.  My contact information is listed at the bottom of the page.

Long Island Bank Owned Homes (NEW On The Market - Week Ending 6/19/08)