What Is An REO vs Short Sale?

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.

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Emagine

Emagine in Spencer

If you're looking for a creative take on web design, Emagine is the company for you. Their innovative approach to custom web design is second to none. Not only do they specialize in web design, but custom photography, print design, programming, mobile development, inbound marketing, e-commerce, video production, and more. This team offers a fully customized experience for each client. Their unique ideas, and forward thinking are sure to blow you away.

Real Estate and MLS Homes For Sale in Spencer

Big Acai Bowls Okoboji

Big Acai Bowls Okoboji in Arnolds Park

For Okoboji's superfood Big Acai Bowl Okoboji, located in the Central Emporium is a perfect spot for a healthy breakfast or a snack. Acai (pronounced ah-sah-hee) is a berry extract from acai palm tree found in the rainforests of Central and South America. The acai berries have a slightly sweet favor often compared too blueberries paired with very dark chocolate. This is a must stop for a healthy treat for the whole family that has many health benefits including healthy fats, fiber, magnesium, calcium with very low natural sugar. This natural food is a must try!

Real Estate and MLS Homes For Sale in Arnolds Park

Hibachi 88

Hibachi 88 in Spirit Lake

Hibachi 88 is a great place to enjoy Chinese food and sushi! They have a large dinner menu and also have a separate lunch menu. If you don't feel like going out or cooking at home call for take out there is something for everyone. If you are a sushi fan make sure to try the Boston roll it is one of my favorites!

Real Estate and MLS Homes For Sale in Spirit Lake

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