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.
TIP
Despite 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.
Okoboji Expedition Co is a bicycle and outdoor sports store in Okoboji, Iowa. We are located on the eastern shore of West Okoboji Lake in the Iowa Great Lakes region. The Okoboji Expedition Company carries bicycles, kayaks, cycling apparel, cross country skis, and snowshoes along with all the needed accessories for all of the above. We also specialize in custom bike fittings and offer winter spinning classes.
We offer bicycle products from Specialized, Cervelo, Co-motion and Alchemy. We also stock Oru kayaks and paddle boards from SOL, Tubbs snowshoes, Atomic cross country skis and outdoor clothing from Mavic, Pearl Izumi and Louis Garneau. Stop in and see us… you’ll be glad you did.
Mother Nature's is an American Restaurant Style bar/restaurant/lounge. Mother Nature's has been a local Estherville bar and grill since 1978. Stop in for the best burgers and steaks in town!
Omaha Beach is on the north end of Echo Bay, extending out into Omaha Point. Known for its secluded private access from Lakeshore Drive, Omaha Beach properties are some of the most sought after on West Lake, easily fetching over $15000 per linear foot of lakeshore.
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