Brandon, FL-   REO (Bank Owned) property bargains can’t help but catch your eye when you’re searching through the latest residential offerings. Whether you are a future homeowner or an investor looking for an opportunity that makes financial sense, bargain basement prices are hard to skip past.

Brandon REO homes (the “REO” is Real Estate Owned, meaning bank-owned) are still being offered at relatively low prices — sometimes, remarkably low prices. But like skilled investors in any realm, successful REO buyers make sure they know why those prices are where they are. In the REO world, the standout factor is this: buying REO means cutting out a proud owner who cares, instead dealing with a bank that wants to sell. It’s a personal pride deficit that inevitably translates to the bottom line. So finding winning REO opportunities in Brandon means hardheaded assessment of the minuses as well as the plusses.

For sure, banks are not in the business of losing money. They may not wish to remain landlords, but they have an asset on their books, and want to get the most for it. They are looking at our Brandon’s real estate market, too; when we see the direction that prices are heading, they do, too. If their cost of holding onto an asset is less than it was last year, a standout bargain basement price is almost certainly condition-based. Unlike owner-owned offerings, banks have no interest in perfecting a home prior to sale. More importantly, they have fewer mandatory disclosure obligations. Ca-ching!     Continue reading →