The "new" real estate fad - REO!

I am beginning to believe that REO is the new real estate fad. I track key words used to find my web sites and several blogs. It seems that more and more frequently folks are finding my site as a result of searching on "REO Brevard" and similar phrases.

So, what are "REO" properties?

REO is just another anacronym for "real estate owned." Basically, these properties are owned by the financial institution. More often than not, these are cases where the property has gone through the foreclosure process and not sold.

Quite often the foreclosure process is conducted, the foreclosure sale is conducted, and the bank still owns the property. Why? I wrote a post a couple of days ago on whether to buy a foreclosure or a short sale. I still believe the short sale is the way to go. Read my post here for my reasoning.

I encourage you to consider short sale properties if REO investments are in your future. For information on the Viera, Suntree, Melbourne and Rockledge REO market, please send me an email to agent@moving2brevard.com or contact me at 1-321-693-3850.

Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Melbourne, Florida.