Todd Yovino

Written by Gabriella for Island Advantage Realty LLC

All of a sudden it's not only a great financial decision to buy REO property, it's actually chic! I shouldn't be surprised, for years I've been amazed that more people weren't taking advantage of the value that can be found in the REO market. But it seems that the "cat is out of the bag" and more and more people are enjoying the benefits of buying REO property.

Here at Island Advantage Realty, LLC we specialize in foreclosure and REO properties in the Metro New York and Long Island areas. As the numbers of quality REO properties has risen exponentially so have the numbers of home owners who are thrilled to purchase these quality homes.

What's really exciting is that home buyers are starting to "get it!" They understand that by the time property becomes bank owned it has generally sat empty for a while, and it will show some signs of neglect. Instead of being disappointed that the homes aren't showroom beautiful, buyers are starting to be excited! They know that if a wall needs painting, it's going to mean a lower purchase price and they will ultimately be able to choose the color of paint that ends up on the wall. In a lot of ways it just makes more sense to buy a home this way. You save money and you get to implement the design choices in your home.

If you are interested in viewing REO properties to witness for yourself all the possibilities, please contact Island Advantage Realty, LLC. We are experts in the field of foreclosure and REO properties, we can help you find the home of your dreams. Buy REO property, its chic!

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 and the home buying process in the Foreclosure and REO markets.

Written by Gabriella for Island Advantage Realty LLC

Have you ever noticed what happens when you try to steer a car that's alignment is off? It keeps pulling to one side or the other. No matter how hard you pull on the wheel, no matter how hard you try to correct the problem, the car continues to pull. I don't understand car mechanics but I do know that it's because there's something wrong with the base of the car. And until you correct that problem no matter what you do there are going to be issues with the steering. Couldn't the same be said about your financial goals?

You can try and try to improve your financial situation but if you are in a mortgage that is not conducive to long term financial health or is simply beyond your means, you're going to continue to have problems. Likewise, if you continue to rent your home instead of build equity the base of your financial plan is to give your time and money away - How likely is that to build a strong financial base?

One solution to consider is buying REO property. If you are a home owner in a loan that isn't serving you, why not consider selling your home and buying REO property? Imagine the relief of being able to go to bed at night knowing that you owe less for your home than what it is worth? How nice would it feel to know that you could afford your mortgage payments today and for years to come?

REO properties are also a sound investment for first time home buyers. They are a great way to enter the market and begin to build equity, which is the first step towards financial security.

If you are interested in buying REO property in the New York and Long Island areas please give us a call at Island Advantage Realty, LLC. We are the recognized experts in this field. We can help you to get your steering back on track.

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.

Written by Gabriella for Island Advantage Realty LLC

I enjoy working in the REO market. I love being able to help families buy affordable homes. I also love the creative people who buy REO properties and renovate and restore them. REO properties are ripe with potential. They offer a home buyer the ability to buy an affordable home and have the ability to create a distinctive and unique home.

Whether you need to create a handicap accessible space or you just have a unique design vision, REO properties offer and opportunity to make your home design20dreams a reality. There is nothing I enjoy more than see home owner's faces shine with ideas for how they will make a space uniquely there own.

The current REO market offers a wide array of possibilities in every price range, square footage and neighborhood. If you would like to view REO properties please call Island Advantage Realty LLC we are experts in the REO market for the Metro NY and Long Island areas.

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.

Written by Gabriella for Island Advantage Realty LLC

There is a new generation of buyers who are finding their way to home ownership. More and more I am seeing smart young 20 and 30 somethings in our offices at Island Advantage Realty, LLC. They are ready to buy their first home and they're prepared to do it in a slightly different way than their parents did. They aren't in to taking huge risks, but they like the idea of putting some sweat equity into a property so they can begin home ownership with a loan for substantially less than what they owe at the bank. In an economy where so many Americans are upside down in their current mortgage it's a great idea to start home ownership with a comfortable equity cushion. So how can you do that? The answer is REO property.

REO property is bank owned. The original owner defaulted on the loan and the lender was forced to foreclosure in order to recoup their investment. Once the lender owns the property they are interested in selling it quickly and efficiently for fair market value, minus the cost of any repairs. What a lot of new buyers are discovering is that REO property is a great solution if you want to buy a high value home as a safe investment. By purchasing a home that needs some work on it you can effectively begin your home ownership with a smaller mortgage and by investing your time in creating the home of your dreams you can be building your equity.

It's great to see so many new homers grasp and embrace the concept of REO property. It may mean looking at homes that aren't in magazine perfect shape for the open house, but that can translate into a fabulous equity cushion!

If you are interested in buying an REO home please give us a call at Island Advantage Realty LLC. We are the recognized experts in this field for the Long Island, Metro NY area.

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.

Written by Gabriella for Island Advantage Realty LLC

REO properties aren't for everyone. In fact it takes a specific kind of buyer to really enjoy buying an REO property. With a little inspiration from Jeff Foxworthy I have decided to make a list.

You know REO property isn't right for you when:

You feel compelled to pay top dollar for everything and actually feel that the value of some thing is less if you get a great price.

REO Properties are sold for fair market price, minus the cost of necessary repairs, so they are frequently less expensive than other comparable homes.

You know REO property isn't right for you when:

You have a hard time making design choices and loathe even small home improvement projects.

REO properties are generally sold AS IS, however the buyer is compensated for necessary repairs. Frequently REO home buyers will find that they need to pick new carpeting and even color schemes for one or more of the rooms in the house. For someone who enjoys making a home uniquely their own this can be a great opportunity, but if you don't like improvement projects REO property probably isn't for you.

You know REO property isn't right for you when:
You like long drawn out escrows.

REO properties generally have very short escrow timelines.

Do you still think REO property might be right for you? Give us a call at Island Advantage Realty, LLC we'll help you to find the REO property of your real estate dreams.

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