REO’S
Posted by David Krecker on March 5th, 2008
REO or Real Estate Owned properties are those that have completed the foreclosure process. Usually, it is the lender who now owns the property. In the mid ’90’s, properties such as these were the driving force behind a depreciating market. Now in 2008, we find ourselves in the same condition: a depreciating market flooded with Bank Owned properties.
There are thousands of companies who advertise that they will sell you lists of these types of properties with glorious forecasts for the future investor/buyer. We will not sell you a list.
Many properties are priced below market value and are sold “as is,” but others have been completely refurbished and reflect asking price.
search for them yourself at www.centuryside.com
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