What Is An REO vs Short Sale?

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.

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Community Updates

Okoboji High School

Okoboji High School in Milford

Welcome to Okoboji High School. At OHS we are Pioneering Pathways for Every Student by building on the outstanding foundation and diverse learning opportunities available to students at Okoboji Elementary and Middle Schools through high expectations, caring and supportive teachers, world class learning opportunities, and a wide variety of extracurricular opportunities.
High Expectations - We speak of, model, and expect Pioneer Pride from every member of our learning community. Pioneers hold themselves to high standards in all aspects of life. Whether it is in academics, extracurriculars, or just in the way we treat one another, Pioneers lead the way.
Caring and Supportive Staff - Our staff believes that every member of this learning community is important and deserving of respect and care. Our staff comes to school each day looking for ways to positively impact the lives of our students and families and truly care about our students both inside and outside the building and beyond. Students who have graduated often come back to thank teachers and staff members who made a positive difference in their lives.
World Class Learning Opportunities - OHS is committed to preparing students for a productive life in a changing world. This means a focus on constant improvement, integration of technology to support learning, and ever changing opportunities. Some of these include new courses in computer coding, engineering, and more. In order to be successful, students need knowledge and the skills to apply it. OHS is focused on Universal Constructs such as creativity, complex communication, adaptability, productivity, collaboration, and other skills that will enable students to apply their knowledge to new and changing situations throughout their adult lives.
Wide Variety of Extracurricular Opportunities - Our students are encouraged to get involved in a wide variety of sports, fine arts such as speech, debate, and music, and school clubs and organizations. More than 85% of our students are involved in our extracurricular programs. Whatever a student’s passion, they can plug into a team or organization here at OHS. Our size also allows students to explore multiple passions in many different areas with
We are very proud of the past, present, and future of Okoboji High School, and even more proud of the students, families, and community we serve. We would love to help you arrange a visit to learn more. We believe you too will see why we are proud to be Pioneers!

Yours in Education,

Brian Downing
Okoboji High School Principal

Real Estate and MLS Homes For Sale in Milford Find more about Milford Learn More Here

Rabab's at the Lake

Rabab's at the Lake in Arnolds Park

Best food in town? We sure think so. Rabab has outdone herself here in the Central Emporium! This upscale, fine dining restaurant will not disappoint. She offers Mediterranean and American dishes. The food is the best part, but Rabab's also has arguably one of the best views, overlooking beautiful West Okoboji lake. Not only is her food extraordinary, she offers an extensive selection of fine wines and cocktails.

Real Estate and MLS Homes For Sale in Arnolds Park Find more about Arnolds Park Learn More Here

Allure & Co

Allure & Co in Spirit Lake

What do you get when you combine four great businesses? Allure & Co. Studio 1328, Boat House Apparel, Lake Life, and House of Fleur are all of the amazing businesses in the chic space in downtown Spirit Lake. This beautiful space is also a great place to hold intimate events, birthday parties, and more. The women that make up Allure & Co. have an amazing insight to style, fashion, photography, and interior design. Be sure to check out one of the newest businesses on Hill Ave!

Real Estate and MLS Homes For Sale in Spirit Lake Find more about Spirit Lake Learn More Here

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