It's time for the weekly update on HUD foreclosures in the Metro Jackson area. Several newly listed properties are available for bids in Pearl, Jackson, Brandon, and Raymond.

The property I've selected to feature today is in the Live Oaks Subdivision in Pearl off Hwy 468. The home, built in 2006, has 1467 square feet and 3 bedrooms, 2 baths, with a double garage. This property is available for "bids" to individuals who will live in the home as their primary residence, and is listed for $120,000. View current Mississippi foreclosures here.

Another property available through HUD in the city of Jackson, near the Beasley Road exit, is 5704 Fernwood. Priced at $122,400, bids will be considered from investors as well as homeowners. With 3 BRs and 2 baths, is has 1605 square feet and a double garage.

One other property for sale is located at 377 Lakebend in the Crossgates Subdivision of Brandon. This is a 3 BR/ 2.5 Bath townhome listed for $96,000. It is also open to all bidders.

Buying a foreclosure can give a purchaser immediate equity in a home if you are willing to make some improvements after closing. It can be a complicated process and is not suitable for every homebuyer. By studying the market and shopping by comparison, you can recognize a good value when you see one.

Choose a Realtor who will counsel you throughout the process and address your questions and concerns with patience, knowledge and understanding.

You may find it helpful to refer to previous issues regarding the foreclosure process.

Tips to Buying a Foreclosure

Understanding the Bid Procedure

Be ready to pounce - get pre-approved