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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Matt Rogers

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Community Updates

Kozy Heat

Kozy Heat in Arnolds Park

The Kozy Heat Fireplaces Gallery is a fireplace dealership located just off of Highway 71 in Arnolds Park, IA. The gallery is an authorized dealer of the following items: gas fireplaces, wood fireplaces, electric fireplaces, outdoor fireplaces, pellet grills, gas grills, smokers, charcoal grills, and ceramic grills. The Kozy Heat Gallery also offers all the tools, amenities, and gear you could possibly dream of to outfit your patio or grilling station to make your house the best hangout spot in the neighborhood. Most importantly, the Kozy Heat Gallery's mission is to assist in outfitting your home or business with the best fireplaces, grills, or accessories out there for each and every customer. With a high standard for customer satisfaction, the superb staff are always excited to accommodate your every need.

Real Estate and MLS Homes For Sale in Arnolds Park

OYBA

OYBA in Milford

Okoboji Youth Basketball Association (OYBA)

The Okoboji School system and basketball program is really blessed to have such a great nucleus of coaches and a system in place designed to really build the children through team work and skill building. OYBA has put together a board and a mission that is really great for the kids and is designed to develop the kids to prepare them for High School Basketball.

Each winter, OYBA puts out teams ranging from 3rd grade up to 8th grade, both girls teams and boys teams.
I am one of the coaches for the 5th grade girls team, we have 24 kids out for basketball, for such a small class, those numbers are amazing.
We put together 3 traveling teams and each of our teams is signed up for 5 tournaments this winter season, the kids love it.

Whether you are new to town or have been here for a long time, if you have kids going to the Okoboji School system and want to play some ball, check out the website, call one of the board members or give me a call and I'll point you in the right direction.

Real Estate and MLS Homes For Sale in Milford

Main Street Bar & Grill

Main Street Bar & Grill in Terril

Main Street Bar and Grill is a longstanding bar/pub/lounge that also has a great selection of food. Wednesday nights they offer a wonderful steak menu. Great cocktails and great food in small-town Terril, Iowa.

Real Estate and MLS Homes For Sale in Terril

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