If you're in the market for a home, Shea Real Estate & Investment Group (SRE) offers a wide variety of opportunities to consider. Due to the complexity of this type of transaction, numerous real estate professionals shy away from real estate owned (REO) properties. At SRE, we embrace them for the excellent opportunity they present our clients. We are proficient at successfully listing, selling and closing bank-owned properties throughout San Diego County.

Real estate owned (REO) properties, often called bank-owned properties, are not a new concept. In short, REO's are simply properties that a borrower has "let go" back to the lender through foreclosure and the property did not sell at a subsequent auction. The lender then owns title to the property.

REO properties fill a variety of market needs:

• First-time home buyers
• Existing homeowners needing a larger or smaller home
• People relocating to the San Diego area
• Real estate investors

Shea Real Estate recognizes the potential of REO properties as a great opportunity for first time home buyers who have previously not been able to qualify to purchase a home. Outstanding opportunities exist for REO properties that fit almost any budget and are priced to sell. We keep a vigilant watch on the pulse of this emerging market to ensure our clients are aware of new offerings as they occur.

Many current home owners may need a larger home due to family expansion or simply wish to move up in the quality or to a different location from the home they now own. Empty-nesters may not need as much house anymore and wish to invest their equity elsewhere. Regardless of reason, REO homes offer a great alternative to find real estate opportunities to make that move.

Real estate owned properties have long been sought after by savvy investors and SRE will help locate ideal properties to expand real estate holdings. REO properties are not limited to single-family dwellings. Other bank-owned opportunities investors may wish to consider include:

• Duplex, triplex, housing complexes 5+ units
• Land developments
• Builder developments
• Commercial developments

Lenders are not in the real estate business and want to get these properties off their books as soon as possible. Lender's terms are straightforward and properties are priced to sell. This provides home buyers with a unique opportunity to buy homes that offer them the best value for their money.

As with most things, there are pros and cons associated with acquiring real estate owned properties:

Pros

• Properties are priced to sell.
• Lenders are motivated sellers who want to expedite the process to a conclusion quickly.
• There are no emotional ties to the property on the lender's behalf as there often is with pre-foreclosure homeowners. The foreclosure is over at this point in time.

Cons

• Competition is sometimes fierce and almost always fast-paced. If a buyer is not in the know, they will surely miss opportunities.
• Buyers may easily over-bid or under-bid on properties if they do not know the value of comparable properties in the neighborhood.
• The whole process of buying a bank owned property is different than conventional, foreclosure or auction sales.

Shea Real Estate works with numerous buyers of bank owned properties each year and is current in all procedures to carry a deal to closing. SRE is familiar with many major lenders, home inspectors and other related professionals relevant to the purchase of REO properties. SRE knows property values in all of the greater San Diego area and assists buyers in preparing competitive bids that are right for them.

REO properties are a great way to acquire a home at very reasonable prices. To minimize the chance of making a bad decision, buyers must know the ins and outs of the market and the process. Shea Real Estate stands ready to offer expert service to buyers interested in bank owned properties.

For more information, contact Shea Real Estate & Investment Group at: 858-759-5237