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.
Brooks Golf Club is one of the premier golf courses in the Iowa Great Lakes. Located in Okoboji, Iowa, Brooks is one of the few 27 hole golf courses in Iowa. I've personally been a member here for a number of years, and can tell you that not other course offers the beauty and upkeep that Brooks provides. The numerous flower beds, Caribbean beach like bunkers, bent grass fairways, natural prairie grass, and rolling hills provide for an aesthetic pleasure as you play all 27 holes. Brooks also has one of the nicest practice facilities in the state as well. Come say hi to John, Bret and their teams of professionals. if you are an avid golfer and in Boji, you won't want to miss these links.
The Family Diner is Spirit Lake, IA is a local favorite! They offer up a large portion for small money, but whether you come early or late you may be in for a wait. With homemade bread and the largest sausage patty you have seen, The Family Diner is consistently delicious. They are open only for breakfast and lunch and closed two days a week. In my former career at Stylecraft, the family diner was definately a favorite when our friends would visit from North Carolina. They were always inpressed with the bread and rolls and corn beef hash.
Okoboji Boat Works is home to "The Fish Shack" and "The Inconvenience Store". Formerly a marina of thriving boat sales since 1890, OBW now offers up many different rentals, a 24 hour gas dock, excursion boats, and more. I remember the days as a child of fishing for crappie and blue gill here and along the docks of Smith's Bay. Though the scenery has changed, the outstanding fishing has not.
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