buy foreclosure: When Would Now Be a Good Time to Buy REO, The NY Foreclosure Report
- 02/16/10 01:17 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)
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. … (0 comments)
buy foreclosure: REO Market Update, The NY Foreclosure Report
- 02/10/10 10:24 AM
Written by Gabriella for Island Advantage Realty, LLC People frequently ask me for an update on the REO Market. The short answer is that now is the moment to buy. The long answer is that we are seeing an unprecedented moment in Real Estate history. There have never been this many REO properties available, and there has certainly never been this range of properties available before. REO properties are not a new phenomenon. However, until recent years they were a lesser known segment of the Real Estate world. Generally people who purchased REO properties in the past were serious investors who … (1 comments)
buy foreclosure: Foreclosure Vs REO, The NY Foreclosure Report
- 02/10/10 10:18 AM
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)
buy foreclosure: The New Year's Resolution, The NY Foreclosure Report
- 01/29/10 02:36 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)
buy foreclosure: The 6 month Christmas Tree, The NY Foreclosure Report
- 01/29/10 02:27 PM
Written by Gabriella for Island Advantage Realty, LLC gabiarny My Aunt Barbara loves Christmas trees; she always left hers up long after the winter season was over. Each year she left it up a little longer until one year she left it up until July. We teased her until the next Christmas and were surprised when she took the next one down on New Year's Day. Years later she told my cousin that dusting that July Christmas tree was the hardest housework she'd ever had to do. She explained that it's all about timing, apparently anything past New Year's and the … (0 comments)
buy foreclosure: The Domino Tradition, The NY Foreclosure Report
- 01/29/10 02:22 PM
Written by Gabriella for Island Advantage Realty, LLC We have a long standing holiday tradition in our family. We play dominoes all throughout the holidays. This is not your average pedestrian game of dominoes; this is hard core dominoes with a double elimination tournament and even a cheer section. The winner gets to take home the special train trophy until the next time the family gets together. The train is one of a kind, coveted by all who see it, and all those who play but never win in the end. That is, until last week, when my cousin Johnny, the … (1 comments)
buy foreclosure: Foreclosure vs REO, The NY Foreclosure Report
- 01/27/10 02:21 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 … (1 comments)
buy foreclosure: The REO Gardeners, The NY Foreclosure Report
- 01/27/10 02:16 PM
Written by Gabriella for Island Advantage Report, LLC Every client has different needs. Last winter I had a couple for clients who were anxious to find the perfect REO property for their individual needs. I knew what the criteria were and showed them several properties. We went over the pros and cons, weighed and measured everything. Nothing quite jelled; the wife was not excited about any of the properties even though there were several that fit their wish list. I am an avid gardener and on one of the outings I happened to take several seed catalogs and a gardening book … (0 comments)
buy foreclosure: The Knitting Group, The NY Foreclosure Report
- 01/25/10 11:33 PM
Written by Gabriella for Island Advantage Realty, LLC A client I found a house for 6 months ago called me to tell me how thrilled she was to be in her new neighborhood. I was pleased that she was enjoying her new home and her new neighbors. She told me she was surprised that she fit right in. She'd found the neighborhood knitting group right away and offered to teach quilting to any and all that were interested. The neighbors could not have been more thrilled to welcome her. My client shared that she was afraid that there would be some … (0 comments)
buy foreclosure: Home From the Wars, The Ny Foreclosure Report
- 01/25/10 11:28 PM
Written by Gabriella for Island Advantage Realty, LLC I'm always happiest when I can fit a well deserving family into a home of their own. I had just such an opportunity this past month. About 6 months ago a young lady by the name of Amy came to me looking for a house she and her husband could afford. Amy told me that her husband was still overseas and would not be home for awhile. We started looking and little by little the whole story came out. Her husband had been severely wounded in Iraq and had several months of therapy ahead … (0 comments)
buy foreclosure: The Fabulous Gold Pen,The NY Foreclosure Report
- 01/25/10 11:22 PM
Written by Gabriella for Island Advantage Realty, LLC My friend Marianne has a wonderful, warm, welcoming family. Her Dad was especially nice and would tell us stories whenever we would gather for a sleepover. While he was alive he always had a gold pen in his shirt pocket and it was always one of the key players in the amazing bedtime stories he would tell us. Marianne's father was a great story teller. Oh, the yarns he would spin for us! The things that pen had seen and done. According to Marianne's Dad that pen had been present when the Emancipation … (0 comments)
buy foreclosure: Today's Economy, The NY Foreclosure Report
- 01/23/10 12:55 PM
Written by Gabriella for Island Advantage Realty, LLC The phrase "Today's Economy" always reminds me of the stories my Great Grandmother Vava used to tell us about the Depression. Her family lived out on the Island, in what was considered "the country". They had a 13 room house and they frequently took in boarders or family members who were having a tough time surviving. There was plenty of work between laundry and canning, chopping wood and tending the huge garden. Today, things are a little different. Most of us do not have extra rooms, or trees to chop for firewood, but … (0 comments)
buy foreclosure: REO Basics Part IV, The NY Foreclosure Report
- 01/23/10 12:41 PM
Written by Gabriella for Island Advantage Realty, LLC We've been talking a great deal about the benefits of buying REO property. It should not be left unsaid that buying REO property, when you are working with the right REO expert, is easy. In fact it is a lot like buying a traditional home, but with a no nonsense escrow. REO properties are purchased with conventional loans. They often qualify for first time home buyer tax incentives, and they come with the same benefits as traditional homes. People are often afraid to buy REO homes, because they are afraid of some imagined … (1 comments)
buy foreclosure: REO Basics, Part III, NY Foreclosure Report
- 01/22/10 01:43 PM
Written by Gabriella for Island Advantage Realty, LLC When prospective home buyers hear of the many benefits of buying REO properties they are usually excited to take a peek at the REO market to see what kinds of homes are available in their price range. Unfortunately, this is the moment when a lot of people make a crucial error. They call the Realtor that they have known for the longest, it doesn't matter if this is their cousin Phil who just passed his real estate license test last week, or if it is the Realtor who helped them with the sale … (0 comments)
buy foreclosure: REO Basics, Part II from The NY Foreclosure Report
- 01/22/10 01:35 PM
Written by Gabriella for Island Advantage Realty, LLC As promised, in this blog I am going to talk about some of the advantages of buying REO property. In the last blog I mentioned that by the time a property becomes REO it has usually suffered some neglect. In some cases it has sat empty for several months, in other cases it has played host to an owner who had no funds for even minor repairs. This seems like it would be a negative for home buyer, in the case of REO properties, however, it is a huge plus! Normally when you … (0 comments)
buy foreclosure: REO Basics Part I, The NY Foreclosure Report
- 01/22/10 01:22 PM
Written by Gabriella for Island Advantage Realty, LLC The number one question we get at Island Advantage Realty is "What is REO property?" The second most asked question is "Why should I buy REO property?" These happen to be my two favorite questions, because the answers tend to be life changing. In the next few blogs I will be not only answering these questions but many others in an attempt to clarify the process of buying REO property. If you have further questions feel free to write in! I love to answer questions about REO properties and the benefits of buying … (0 comments)
buy foreclosure: Ride the Super Chief!, The NY Foreclosure Report
- 01/20/10 10:52 PM
Written by Gabriella for Island Advantage Realty, LLC My Aunt Tova always tells the tale of the woman whose husband was the conductor of the Super Chief Train. The Super Chief was the railroad line that ran from Chicago to Los Angeles. In its heyday it was considered a luxurious liner and the wife longed to ride it. Every week her husband would leave on the train and she would listen to its whistle as it pulled out of town and she would dream of riding it. But, there were dishes to do, diapers to change, meals to prepare. Time passed … (0 comments)
buy foreclosure: Renting REO Properties
- 01/20/10 10:46 PM
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 … (1 comments)
I recently got a call from out of state, a mom getting ready to send her son to film school in New York, but devastated by the price tag attached to dorm life in New York City. It wasn't that she couldn't afford the dorm; it was that she couldn't bear the thought of spending all of that money and having nothing to show for it at her son's graduation. Being a savvy property owner she Googled New York REO and found Island Advantage Realty, LLC, which isn't surprising because we are … (0 comments)
Written by Gabriella for Island Advantage Realty ;)
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