Foreclosure Listings Blog

Fayetteville NC Foreclosures

Ron Allen~Foreclosure Listings (FavoriteAgent.com) — Wed, 29 Apr 2009 09:26:33 -0400

If you are looking for Fayetteville NC foreclosures for sale the best place to start is the Fayetteville NC homes blog. The staff of local experts over there routinely gathers a list of Fayetteville foreclosure properties. The list is available from the blog as a free service.

When you're ready to start looking a home they can set you up with a buyers agent and guide you through the process.

Get Rich Investing in Foreclosure Listings

Ron Allen~Foreclosure Listings (FavoriteAgent.com) — Fri, 23 May 2008 22:49:02 -0400

National foreclosure listing service Foreclosures.com has just released a course entitled “Get Rich Buying Real Estate Foreclosures”. The six-CD audio training course which includes a bonus DVD has the latest information, tactics, expert secrets and other invaluable resources to ensure your success whether you’re a first-time or experienced real estate investor.

The bonus DVD is invaluable all by itself, with “on-site” one-on-one instruction from Foreclosure.com Founder, President and CEO, Brad Geisen. The video shadows Brad throughout various property inspections. During home tours, he covers...Click Here

Preforeclosures Risks - Liens

Ron Allen~Foreclosure Listings (FavoriteAgent.com) — Fri, 23 May 2008 22:37:43 -0400

Looking for foreclosure listings can be a lucrative endeavor but many beleive finding preforeclosures is where the real money is. A preforeclosure, put simply, is a situation where a homeowner falls behind on house payments and starts looking for a way out of the problem. The owner may or may not be officialy in default even technically preforeclosure starts at the lis pendens or notice of default.

Investors looking for preforeclosures use....,click here for the rest

How to Find Foreclosure Listings

Ron Allen~Foreclosure Listings (FavoriteAgent.com) — Tue, 20 May 2008 14:07:48 -0400

Foreclosure listings represent a terrific bargain to the average homebuyer. It may take some detective work but the right foreclosure property could save a buyer hundreds if not thousands of dollars for an industrious purchaser. Investors who are willing to buy a severely distressed property and have the skill to rehabilitate it can make as much in a few months as the average American makes in a year. But how do you find a foreclosure listing? Which method is the best? And how do you know if the deal makes sense? All good questions and hopefully after reading this article you'll have the answers.

1. Call your bank or credit union. Since foreclosure properties are owned by a lender (most often a bank or credit union) one way to find foreclosure listings is to simply call the banks and credit unions in your area. Ask for the real estate owned or REO department. This approach will likely work better for small local banks rather than the large chains. the large chains may have a corporate REO department or a firm that handles it for them.

2. Visit your county courthouse. Anytime a property is foreclosed it must be announced to the public. These announcements are posted at the county courthouse. Laws vary by state and policies can differ even with a state so call your local courthouse to get the details for your locale. Two good questions to ask are: is the information posted online and/or is it published in the newspaper.

3. Get an agent. Find a local real estate agent that specializes in helping buyers find foreclosure listings. Most agents like to work with traditional retail buyers and may steer you away from foreclosures. If you are serious about finding a foreclosure listing you want an agent who specializes in the foreclosure market. There are agents that can operate in the traditional and foreclosure markets but their are real differences and unique challenges specific to foreclosures.

4. Use a foreclosure listing service. Services like RealtyTrac and Foreclosure.com publish foreclosure listings nationwide. They gather the property listing from multiple sources. RealtyTrac claims to publish 1 Million properties from nearly 2,500 counties nationwide, and is the foreclosure data provider for MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. Foreclosure.com is equally impressive boasting over 1.2 million property listings updated daily. They both offer a 7 day free trial so you can test drive without a commitment. Finding foreclosed properties is not difficult. You'll soon see that they are literally everywhere. What is a little challenging is finding a property that will prove to be a good investment. If you're looking for a place to live for a bargain you'll have an easier task. Most foreclosure listings are offered at or near market value to begin with. So the listings that just need cosmetic fixes usually go to an owner occupant.

No matter which or how many of these steps you choose to use Step 3 is the most important and in my biased opion should be used in conjuction with the other 3. Seriously at least until you have a few purchases under your belt. An agent can help you find what a prospective foreclosure property will sell for after it's ready for market (crucial for deal analysis). Agents have access to other professionals you'll need to keep close, like attorneys, contractors, inspectors, etc. The most important thing...., a good agent will tell you when you need to run for cover because some deals just aren't worth it.