My New Blog

With unemployment reaching record level, there has been more distressed properties for sale in all areas of the US. I had discussed short sales in a previous post, now we will look at true bank owned properties or REO's. These houses are Real Estate Owned on the bank's balance sheet. Normally what happens is that the bank buys them back at sheriff sale, they get an appraisal, and then they list them with a local realtor to sell. All of these properties can be seen on  the MLS. Just give me a call and I can do an REO search for you.

The house listed at Stratton Drive on my website is an REO. Wonderful upscale house in professional area of Edmond. Does need a little TLC, but at this price very affordable property.