Great deal on this huge 6 bedroom 4500+ sq ft home situated on over an acre. Bank owned. $289,900 MLS # 10-16

$569,000 4 beds 4 and 1/2 baths 6000 sq ft! This home has a finished basement with a theater room.  Builder estimates $100k to complete. Needs deck, appliances, bath sinks, tub and fireplace insert and propane tank. Home has granite counter tops, tiled floors, full basement, custom cabinets, and lots of storage space. This is too good to let go! MLS# 09-3677

REO- This 3 bed 2 bath home has 1,726 sq ft of living space and beautiful views! Listed at $259,900 this home is a steal! MLS# 09-3656

Short-Sale- This River Meadows home is a great deal at $299,000! 3 bed 2 1/2 bath 2,086 sq ft living space. MLS# 08-4393

 Bank owned Lupine model Mountain Meadows home just listed in Teton Springs. The Lupine model is 2765 sq. ft. with 3 bedrooms and 3 ½ baths. Nice finishes and this home backs on the central pond area and open space. With the majority of these homes having sold over the past two months this will be a sought after property as soon as it is listed on the MLS. I am emailing you to give you  a jump on this property.  

Home is listed at $365,000. A Lupine just around the corner is under contract for over $400,000. This is an excellent price on an excellent property. This one won’t last.

This is a photo of Lupine model. This is not the actual home.   

Appaloosa Ridge Subdivision in the West end of Teton Valley has been reduced! All lots have been reduced almost $10,000 each! Prices ranging from $34,000 to $87,000. These are prime lots with spectacular views of the Tetons and Teton Valley. Near River Rim Ranch and the Teton River. This is a great price on these amazing lots!

REO-This is a great offer on this 4 bed4 bath 5100+ sq ft home. Full basement with a theater room! $594,000 MLS# 09-3629

Short-Sale- Beautiful Teton views in West Ridge Ranch. 1 acre lot $39,000 MLS# 09-3525

“In today’s economic mess, many homeowners are learning that their homes are worth less than what they’re paying on monthly mortgage payments.  Some people are continuing to pay on the mortgage, hoping for the housing market to turn.  Some others have decided to let their new houses be foreclosed upon, deciding to take that hit and store up money to move to a place they can better afford.  But there’s a third option that some people are taking that they feel works better for them, but it may not be their best option.

That option is known as short selling.  Short selling is the process of selling your home for less than it’s worth.  In this case, many homeowners in California and Florida are selling their homes and getting out from under terrible mortgage deals that have ended up crushing them.  Lenders are happy because they don’t have to try to find someone to sell the home to, and at least they’re getting something coming in.  Sellers are happy because it’s not recorded as a foreclosure, and they’re out from under debt that was giving them nightmares.

So everyone is happy, right?  Well, not so fast.  It seems that short selling might have a more detrimental impact on the seller than they thought it would.  As stated in SmartMoney Magazine, there are three major negatives that can, and will, follow you should you decide on this option.  They are:

1)      your credit score takes a hit as if you were foreclosed upon;

2)      the lender may still come after you for the difference between what you sold the house for and what it’s worth at the time of the short sale

3)      if you needed time to build money up, a foreclosure offers you that opportunity, whereas with a short sale, in some states, you don’t have any protection after a short sale

So, even though lenders will be getting a small bonus back from the federal government for any short sale transactions, it may not be enough to keep them off your backs, and your credit score is going to suffer anyway.  This is one case where doing the right thing might not be the right thing for you and your family.

It’s something else that homeowners in trouble have to deal with as they try to take care of their families in a tough economy.” Quote from newhomessection.com

REO is an acronym for “Real Estate Owned”. It refers to a bank owned property after a foreclosure.

“For new investors and new agents here is a quick clarification of an often misused/misunderstood term. You will hear people saying “REO” in one form or another including “REO’s” and “REO Properties” among a few others. REO simply means Real Estate Owned. Where it gets confusing to some is that REO does not only mean real estate owned by a bank or lender they have accepted in lieu of foreclosure or have foreclosed upon but the term also indicates any property held by an individual including their primary residence.

When a loan originator is accepting an application from a prospective borrower there is actually a section for the listing of real estate owned. When that part of the application is encountered the loan originator may use the abbreviation REO instead of saying the words “real estate owned”. This is the time where all properties are listed whether or not there is a registered mortgage attached to them.

In the real estate investment industry when you see the words REO in an advertisement it is generally assumed the subject property is a foreclosed property or property that has otherwise come into the possession of the bank or lender. ” Quote from Active Rain.com