What Is Foreclosure And REO?
REOs may be vacant or in need of repair. But often they look and feel just like other homes for sale, and they're listed by a real estate agent. Although they're typically sold as-is, it's not uncommon for an REO to be in move-in condition. But the process of buying an REO is different than other home purchases. An REO property is one that's been foreclosed on and is now owned by the bank.
REO properties fall into two categories:
Move-in condition: The home is in acceptable condition and not in need of rehabilitation. You could buy this property and move in quickly. Damaged: A damaged REO generally needs repairs and rehabilitation before you can move in. These types of REOs are attractive to investors and some buyers who aren't daunted by the work involved in rehabbing a property. Often, you will get a bigger discount on damaged REO properties, but you have to consider refurbishing costs. Where can you find REOs for sale? I have an extensive list of websites and subscriptions to find and learn about foreclosures and REO's.Just contact us. Oddly enough, it isn't as easy as you think to spot and buy an REO. Most banks and other mortgage institutions do a poor job of marketing these properties.
Pros of buying REOs:
• The process is similar to a "normal" home purchase in that you can secure financing using a traditional mortgage. (Buying an REO property is nothing like buying a foreclosure property at auction with cash.)
• You'll be able to do inspections and secure financing before completing the purchase.
Cons of buying REOs:
• The process can take longer than a regular home sale.
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Aaron Jones
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Brooke Jones
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Pirate Jack's Bar
Best little gem on the lake. Located on West Lake you will be able to sit and enjoy a nice cold beverage, a wonderful staff, and one of the best views in town. They have a wonderful selection of drinks you can choose from. Make sure to try one of their margaritas, it is the best on the lake in my opinion! Whether you want to enjoy the fireworks on the 4th of July, or just any sunset in the summer, Pirate Jack's is the place to be.
Great Lakes Cinema 7
If you're in the mood for a movie, this is the place to go! They've recently updated all of their seating, so its comfier than ever to enjoy a movie here! They offer daily snack and drink specials, as well as free showings from time to time. Their screens are all digital projection, to ensure the clearest movies possible.
"The Harbor"
The harbor is a man made inlet located on the north end of West Lake. A board walk surrounds the harbor and this is one of the most tranquil parts of the lake. Homeowners in the harbor have a more affordable way to have access to West Lake, and still get to enjoy the clean waters West Lake has to offer. Homes in the Harbor typically range from about $350k to as much as $700k.