Finding Properties in Foreclosure

Many websites make it sound easy to find homes in foreclosure. Some are speaking the truth, while others are leading you on just to get into your pocket book for $50 so that you can browse their site. Their site will list properties in foreclosure only to find out later that the house is not up for sale because the homeowner has done a workout and is keeping the home, or you find out that the information is outdated and that the house sold 3 months ago. These sites can be a good indicator as to what is coming up on the market in the future, but the problem is that they don’t tell how long into the future. Before you know it, you have spent a lot of time tracking something that may or may not ever hit the market.

My advice, use a realtor that knows the foreclosure market and how it works. A good realtor that knows the foreclosure market will know what is currently available and will have insights on what is a good value and what is not a good value.