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East End LI Foreclosures/REO’s Found Easily

October 25th, 2009 category: East End LI Foreclosures, Real Estate News

For those unfamiliar with a MULTIPLE LISTING service, it’s a real estate listing website normally inclusive of all area listings, provided by all local MLSLI member real estate agents. On Long Island, the multi list is called MLSLI (Multiple Listing Service of Long Island).

Part of membership is the ability to provide all homes for sale for those seeking real estate information, with those listings entered into the MLSLI by cooperating companies. This is called an IDX feed, and allows a property to find exposure on ALL MLSLI member real estate websites, as well as on the MLSLI and listing company website. The idea behind this cooperation is that it will increase exposure for sellers, and provide multiple venues for buyers.

BANKS WANT THEIR REO’S ON AN MLS.

When bank owned properties began appearing with more quantity on the East end of Long Island (Hamptons, North fork), these listings were entered into the MLSLI. As a company that is involved in listing REO’s, it’s not negotiable: BANKS WANT FULL EXPOSURE FOR THEIR PROPERTIES, and listing agreements with their broker of choice requires input into the MLSLI system.

While it’s been possible for us, as a real estate company, to locate bank owned and REO properties for potential clients, it has NOT been possible for those interested in bank owned to view them all in one place, at one location, absent a real estate agent providing the data. The IDX systems are set up to show ALL properties, but not specifically bank owned, or short sales.

AS OF MONDAY, Oct. 26, 2009, OUR IDX PROVIDER IS CHANGING OUR SEARCH OPTIONS. Included in the search will now be an option to seek out foreclosures ONLY, without having to search through all listings to locate an reo. These will include not only our REO listings, but ALL listings.

It will work like this: when you go to the blue button for “north fork homes” (BLUE TAB ON THE RIGHT) you’ll be brought to the regular MLSLI IDX feed. What will be different is that when you view property “type”, the additional choice of “foreclosures” will be available to click on. This will bring you ALL currently listed REO properties on the east end of Long Island.

At this juncture, we are uncertain as to whether or not it will have the capability to search outside of the east end, but we hope so- a simple choice of towns will bring to you all of the foreclosures available in that town.

Give it a try. Signing up is easy, and free- no hassles, and no phone calls. You can even have REO’s delivered to you as they appear on the MLSLI.

If you’d like more information on REO listings, we’re here to help. If you’d simply like to check out what’s available, it’s right there for you- just click the blue tab “north fork homes”.

If you are looking for a home for sale on the North Fork / East End of Long Island, please fill out the form below.

To search available homes for sale on the North Fork / East End Long Island or condos on the North Fork of Long Island, click “north fork homes”, enter your area of interest and any parameters, and click “go”- properties for sale include Riverhead, Aquebogue, Baiting Hollow, Calverton, Jamesport, Laurel, Mattituck, Cutchogue, Peconic, Southold, Greenport, East Marion, Orient, Orient Point, Westhampton Beach, Hampton Bays, Flanders, Southampton, Sag Harbor, East Hampton, Montauk, NY.

2 Responses to “East End LI Foreclosures/REO’s Found Easily”

Quick scan of the net – real estate websites « mariajones Says:
October 25th, 2009 at 12:56 pm
[…] http://optionsrealty.com/2009/10/25/east-end-li-foreclosuresreos-found-easily/This is called an IDX feed, and allows a property to find exposure on ALL MLSLI member real estate websites, as well as on the MLSLI and listing company website. The idea behind this cooperation is that it will increase exposure for … […]
Robert Mann Says:
November 5th, 2009 at 5:58 pm
Where did you get this theme from? It’s pretty clean and nice