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Banks & Asset Managers
Learn how the At Home in Katy Team can help you and your team manage and dispose of Houston area REO assets quickly, efficiently and for the best possible price.
The subprime mortgage foreclosure crisis has created a historic level of REO (bank-owned) properties on the market. This trend has contributed to a decrease in housing prices and created a whole new level of affordability for buyers. First-time buyers that want to get the most value for their first investment should consider REOs as an option.
The benefits of buying an REO are:
- REO properties are typically priced more agressively to ensure quicker sales
- Banks are more willing to negotiate on terms than the average homeseller
- Low Interest Rates can make REO purchases more affordable than renting
- With FHA or VA loans, buyer's can buy with as little as 3% down
- In many cases, REO properties have already been repaired
- Faster equity buildup enables you to borrow for upgrades, college tuition, etc.
If you decide that REO properties could be the right answer for you, please feel free to read some of our tips on the best ways to submit attractive offers that give you the best chance of getting to contract. And don't forget, we're here to guide you through the process - just give us a call, or use our Contact Form.
Brian Varvel, Residential Sales & Leasing
REO Specialist
