SHOULD YOU BUY REO?

Written by Gabriella for Island Advantage Realty, LLC

Wouldn't it be great if you could look into a crystal ball and know for certain what was in your future?  Imagine how much easier it would be if you could know for certain what action you could take that would provide you with financial security.  You may not be able to look into a crystal ball to see the future but you can look to the past as a great predictor of what the future may look like.

When we look to the past we see that the real estate market has always had ups and downs.  People who have purchased their homes in down cycles have traditionally gained the most from home ownership.  You don't have to be an economist to reason it out.  The less expensive your home purchase is the more you stand to gain if the house grows in value.  And we know from the past that homes consistently grow in value over time, despite short periods of down turn.

All things considered REO property is a very smart buy at this time.  When you buy REO property you not only get into a low market, you get into a home that frequently has a reduced price in consideration for any repairs that need to be done.  I don't know about you but I would rather have money off a purchase price to make repairs than pay a higher price and be stuck with some one else's design choices.

If you are interested in buying an REO property in the metro NY or Long Island areas you will want to talk to Island Advantage Realty, LLC.  We are the industry leader in REO home sales.  Let us help you to understand this exciting market.

The advice and tips offered in this blog are intended to be solely informational and do not apply in all circumstances.  Make sure that you consult a real estate professional, financial consultant, attorney or accountant before taking any action.  For further information or questions please contact Gabriella@IARNY.com

Island Advantage Realty, LLC specializes in Foreclosures and Bank Owned properties in the Metro NY and Long Island Areas. They are dedicated to educating home buyers about the home buying process in the Foreclosure and REO markets.