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What Is Foreclosure And REO?

You can use our website to search foreclosures and contact us to set up a time to take a look or have us research some info for you. We are members of RealtyTrac which is the leading provider of foreclosure information.
The most common type of foreclosure property you'll encounter in your home search is a Real Estate Owned, or REO, property. REOs are properties that have been foreclosed and are now owned by the bank.

REOs may be vacant or in need of repair. But often they look and feel just like other homes for sale, and they're listed by a real estate agent. Although they're typically sold as-is, it's not uncommon for an REO to be in move-in condition. But the process of buying an REO is different than other home purchases.  An REO property is one that's been foreclosed on and is now owned by the bank.
 
REO properties fall into two categories:
Move-in condition: The home is in acceptable condition and not in need of rehabilitation. You could buy this property and move in quickly.
Damaged: A damaged REO generally needs repairs and rehabilitation before you can move in. These types of REOs are attractive to investors and some buyers who aren't daunted by the work involved in rehabbing a property. Often, you will get a bigger discount on damaged REO properties, but you have to consider refurbishing costs.
Where can you find REOs for sale? I have an extensive list of websites and subscriptions to find and learn about foreclosures and REO's. 
 
Just contact us.  Oddly enough, it isn't as easy as you think to spot and buy an REO.  Most banks and other mortgage institutions do a poor job of marketing these properties. 

 
Pros of buying REOs:

• Often, you'll pay a below-market price for the property.
• The process is similar to a "normal" home purchase in that you can secure financing using a traditional mortgage. (Buying an REO property is nothing like buying a foreclosure property at auction with cash.)
• You'll be able to do inspections and secure financing before completing the purchase.
 
Cons of buying REOs:
 
• Many banks will require an "as-is" purchase, and if there are problems or necessary repairs, paying for them is your responsibility.
• The process can take longer than a regular home sale.

 

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Matt Lippon

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Brooke Jones

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Aaron Jones

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Community Updates

Emerald Hills

Emerald Hills in Arnolds Park

Emerald Hills Golf Course is one of the premier golf courses in the Iowa Great Lakes. Golfers throughout Okoboji will tell you that compared to the rest of the golf courses around, Emerald Hills is probably the most challenging. When I grew up as a kid, we lived just a half block from the back side of the course. We would sneak on with a couple short little clubs and balls we found walking the course and sometimes spent more time being chased by the sprinklers than trying to hit golf balls. Emerald Hills was owned by Gordy and Bette Benit many years ago and they can be credited with growing this course into the masterpiece it has become. Later purchased by Randy Rohlfsen and a few others, Emerald has flourished as one of the best courses around. If memory serves me right, Randy has been there since the early 1990's and has always had a strong conviction to help young golfers. He has taught and coached numerous high school teams, and they also put on a 5 day junior camp every year which has been a tremendous hit. I grew up on this course and can honestly say, you better be hitting the ball straight!

The Waterfront

The Waterfront in Arnolds Park

This place is amazing! From the views, atmosphere, service and food you can't go wrong. The biggest beer and drink selection at the lakes. On Sundays you can enjoy one of the largest bloody mary bars in the area. Their menu consists of a variety of steaks, seafood, and flatbreads. The Waterfront is a great addition to the lakes area!

Okoboji Middle School

Okoboji Middle School in Arnolds Park

Okoboji Middle School is a place where we are Pioneering Pathways for Every Student. We focus on giving EVERY student access to a world-class education in small-town Iowa. We do this in three primary ways:

We employ staff who care deeply about the lives and learning of each student. From the classroom to the kitchen, we believe positive relationships between our staff and students form the foundation for all student learning.
We focus on preparing students with the competencies and skills needed to thrive in the world beyond our school. All teachers use a common language focused on developing the following five competencies in all our students:
Critical Thinking: The ability to incorporate key information to develop solutions to complex problems
Productivity & Accountability: Demonstrate initiative, self-direction, and personal responsibility to create quality results.
Complex Communication: Successful sharing of information with a clear message.
Collaboration: Respectfully working within a group to achieve a common goal.
Growth Mindset: The incorporation of creativity, unique thoughts, curiosity, and innovation in learning.
We focus on creating learning experiences to prepare our students to solve the problems of tomorrow. Nowhere is this more exemplified than in our Midmester Academy. Through our Midmester Academy, students spend over 120 days throughout their middle school career engaging in 24 real-world, interdisciplinary, problem-based courses. Their experiences culminate in an 8th Grade Capstone Project, where students showcase their middle school learning to a panel of peers, family, and faculty.

Please click HERE to access our Midmester Academy Handbook and Course Booklet.

We hope you will take to time to peruse the Midmester Academy Handbook Course Booklet and navigate our website to learn more about our school. Most importantly, we want you to know that if you are considering Okoboji Schools for your family, we would welcome the opportunity to give you a guided tour of our facilities, which will include a detailed exploration into the programming we offer our students. Please contact any of our school offices to set up a tour.

Yours in Education,

Ryan Cunningham
Okoboji Middle School Principal

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