Here's something you might be wondering: What's the difference between an REO property and a short sale? An REO property is one that has already gone through foreclosure and is currently owned by the bank, which is trying to sell it to a buyer. A short sale is a real estate transaction that takes place when an owner owes more on the mortgage than the house is currently worth and the bank agrees to a sale for less than the full mortgage balance in order to avoid foreclosure. A property involved in a short sale is not bank-owned. The number of short sale transactions has increased in recent years, and you're likely to run into homes like this on the market as you view properties. As with REOs, short sales can be complicated. TIPDespite what you may hear on TV, buying foreclosures is not a get-rich-quick scenario. REOs can offer a way to buy property at below-market prices, but the process is different than an average home sale.
Separated from the rest of the Iowa Great Lakes, Big Spirit has a lot to offer. Big Spirit is actually located in Iowa and in Minnesota. This quiet setting offers a number of different lake views as well as access to fantastic fishing. While your are there, stop at the Spirit Lake Fish Hatchery. Every year they use gillnetting to catch and release walleye, muskie and pike using each fish to help breed a new batch of fish for the year. Often times the DNR catches very large fish and put them on display in one of their many fish tanks. The DNR professionals harvest fish eggs and release them after they hatch. Stop by and see the in the Spring, you will not be disappointed.
Yesterdays Restaurant has been an Okoboji favorite and is only opened seasonally. Yesterdays has a complete dinner menu that features nightly specials. They have a wonderful martini menu that will not disappoint. Make sure to also make reservations in the Japanese Teppanyaki Room. Watch as asian inspired meals are prepared and served by your personal chef.
Miller's Bay, on the west side of West Lake is a popular spot for boaters in the summer to just go chill out, throw an anchor, and relax. On the weekends, this bay is filled with boats tied up to each other offering families the opportunity to have the kids swim, or you might find a bunch of party animals chugging beers and enjoying the summer sun. Either way, everyone is having a great time, and so if you are out and about, just know that Millers Bay is where boaters go in the summer to be where the party is at.