Over the past few years, homebuyers and investors have become increasingly aware of distressed properties in sought after towns such as Naugatuck, CT. While foreclosures and short sales are without a doubt the most instantly recognizable, they also have a reputation as some of the most unpredictable and complicated to pursue. Thus, more attention is being focused on REO – or real estate owned – homes that offer a greater level of stability. A local Realtor® and Naugatuck REO expert such as Edite Calabrese will help you find the best investments on the market today.
When a property is real estate owned, it means that it has gone through an unsuccessful foreclosure auction, is now owned by the bank or lending institution, and will be priced competitively in order to sell quickly. The price of a Naugatuck REO will not be as heavily discounted as a foreclosure, but it will offer advantages associated with traditional Naugatuck real estate, such as the ability to conduct an inspection as well as being able to purchase the home with a mortgage. The transaction is also not as time-consuming or complex as bidding on a foreclosure or short sale, but with its many specific requirements, it is still recommended that buyers work with a professional who is familiar with the ins and outs of REO homes.
Naugatuck REO Properties
Ultimately, Naugatuck REO properties are an excellent way to fulfill your short and long term investment goals. Buyers can end up investing in better neighborhoods and higher quality properties that were previously considered to be too expensive. Those who wish to renovate and resell Naugatuck CT Homes for Sale will also enjoy increased margins and better profit potential.
For more advice regarding investing in a Naugatuck REO home, connect with Realty Executives ICON and award-winning Realtor® Edite Calabrese today.
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