REO Market Update, The NY Foreclosure Report

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 were well versed in real estate. They bought REO properties mainly as investment property either to fix up and use as rentals or to "flip" for profit. Savvy investors are still buying REO properties for investments but first time home buyers are also discovering the benefits of buying REO properties.

There is a window of opportunity right now to buy REO property and to receive a tax credit of up to $8,000 if you qualify. Don't miss this opportunity. If you aren't sure if you qualify and you are looking for property in the metro New York or Long Island area please give us a call at Island Advantage Realty, LLC. We are experts in this field and can answer all of your questions.

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.

Buy Foreclosure, Metro NY REO, REO BASICS, REO Investment Housing Tax Credit, IARNY, Island Advantage Realty, LLC, Long Island Foreclosure, Long Island REO, NY Foreclosure, NY REO, Obama Housing Tax Credit, REO Experts, Todd Yovino