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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Janie Eick


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Community Updates

Kenue Park

Kenue Park in Okoboji

Kenue Park
2251 170th St
Okoboji, IA 51355

Located next door to the Dickinson County Nature Center, Kenue Park offers 40 acres of entertainment including picnic areas, hiking trails and a 18 hole disc golf course.

Real Estate and MLS Homes For Sale in Okoboji

Okoboji Community School District

Okoboji Community School District in Milford

Welcome! Okoboji Community School District is a place where we are Pioneering Pathways for Every Student. Okoboji has so much to offer all students: high academic standards, strong athletic and fine arts programs, and much more. This community should feel Proud to Be piONEers who are Outstanding and Optimistic and encourage Opportunity for ALL.

If you are new to the district, we look forward to providing your children with a challenging education from teachers who build academic competence, encourage innovation and collaboration, and teach with passion in an atmosphere where students are valued, celebrated, and challenged.

We are so thankful for the many parents involved in Pioneer Parents and other organizations that are engaged with our children’s education. It is our hope you will be an “all in” parent/guardian/community member/community leader for your child and every child in our district. It is “Team Okoboji.”

To learn more about the Okoboji Community District, please call 712-338-4757. We are committed to keeping our kids safe and giving them our very best.

Thank you for your support!

- Todd A. Abrahamson, Superintendent

Check out these You Tube videos:

https://www.youtube.com/watch?v=S4E8vyEcqsQ&index=1&list=PLgY3oyulYPWoBiQcIm5A-273dr2fDJRhp

https://www.youtube.com/watch?v=qXTeIuB-72c&index=2&list=PLgY3oyulYPWoBiQcIm5A-273dr2fDJRhp

Real Estate and MLS Homes For Sale in Milford

Downtown Church

Downtown Church in Arnolds Park

Downtown Church
45 S Hwy 71
Arnolds Park, IA 51331
Next to Okoboji Middle School/Okoboji Bible Conference

Services:
Sunday evening at 5:30 p.m.
Small Groups- Tuesday/Wednesday at 6:30 p.m.

Real Estate and MLS Homes For Sale in Arnolds Park

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