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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Aaron Jones


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Wilder Thymes Natural Foods

Wilder Thymes Natural Foods in Spirit Lake

Looking for a pace to get organic, and natural foods? Wilder Thymes is your go-to place! As the only shop in the lakes area to offer such things, this quaint little shop is definitely a place to check out. They offer organic, and local foods, from snacks, spices, cooking ingredients, gluten free, dairy products, and more! Wilder Thymes also has an array of natural cleaning products, and personal care items that are hard to come by. Not only can you buy groceries here, but they also have a deli! Pizzas, wraps, braked goods, soups, and sandwiches are just some of the yummy things you can buy at Wilder Thymes!

Real Estate and MLS Homes For Sale in Spirit Lake

Pirate's Cove Adventure Golf

Pirate's Cove Adventure Golf in Arnolds Park

X marks the spot for this family fun pirate themed mini golf! Pirate's Cove is located in Arnolds Park right next to the amusement park. The kids will love this summer activity. They will be able to putt their way through caves, over bridges, and under waterfalls. Being right in the middle of all the summer action you are also walking distance everything that downtown Arnolds Park offers.

Real Estate and MLS Homes For Sale in Arnolds Park

Table 316

Table 316 in Arnolds Park

16 cent beers, need I say more? Make sure you're here at exactly 3:16 pm, and you'll get your fill of 16 cent beers for a whole hour! Then, they go up $1 every hour after that. Table 316 also has great steak, and appetizer deals at 3:16 pm as well. We bring all of our friends here to have a good time, and grab beers before going out on the lake for the rest of the afternoon.

Real Estate and MLS Homes For Sale in Arnolds Park

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