New York Foreclosure and REO Markets, The NY Foreclosure Report

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.

The main thing to keep in mind with REO properties is value.  The vast majority of these properties are in need of cosmetic repairs.  In almost all cases they are suffering from some form of neglect. The wonderful thing about neglect and cosmetic repairs is that they are generally relatively easy and inexpensive to fix. For REO properties they can mean a substantial savings.  REO properties are sold for fair market value minus the cost of repairs.  So when you see a run down property, be mindful of the value of the property after the repairs are made.  REO properties have tremendous value and are a great way for home owners to build equity from day one of home ownership.

If you are interested in seeing what the REO market has to offer in the metro New York or Long Island areas make sure you call Island Advantage Realty, LLC.  We are the recognized experts in this field and can show you the many opportunities that are available for home buyers.
 
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.