REO Is The Way To Go!

Because of the massive and wide-spread use of sub-prime mortgages over the past five years, the foreclosure crisis has created an historic level of REO properties hitting the market; A trend that has contributed to declining housing prices and created a whole new level of affordability for buyers. Reports show that residential real estate investment activity in California has grown upwards of 65% in the past year alone with real estate investors the most rapidly growing population of buyers.

We try to make a significant effort to market REO properties to low to moderate income homebuyers that were previously priced out of the market. First Time home buyers that want to get the most value for their first investment should consider REOs as an affordable housing option and turn these losses into new beginnings.

There are real benefits to buying an REO:

• Affordability - Typically foreclosures are aggressively priced to sell. Banks are eager to sell them and will price them low to ensure a quick transaction;
• More bargaining leverage - Banks usually want to sell REOs within 90 days of listing and are usually willing to negotiate with buyers;
• Competitive pricing and today's low interest rates often make an REO purchase more affordable than renting;
• Buyers can purchase with 3%, If purchasing with FHA or VA loans, most banks are willing to pay reasonable closing cost;
• Qualifying homebuyers can finance both the purchase of an REO and the cost of its rehabilitation through a single mortgage loan;

If you decide that an REO is for you, we'd love to help make your purchase a successful one.