My brother called yesterday, and is moving back east, from Alabama to New Jersey. Because he’s aware that we list bank owned properties, he had a simple question: HOW DO I FIND THE FORECLOSURES in New Jersey without paying a fee to a website?
While I’m not familiar with the MLS in New Jersey, the Multiple Listing System of Long Island (MLSLI) is the source for listed bank owned properties on Long Island- asset companies and banks require that all listings be entered into the local MLS by the Realtor assigned the asset.
Unfortunately, there is not a tab that offers a consumer direct access, and searching all MLS properties in order to locate bank owned is frustrating. On our own website, we have foreclosures/reos for the east end (North fork/Hamptons) on a separate feed- one click provides almost all reos on the east end.
Both banks, and asset companies offer properties available for sale on their websites.
If, like my brother, you’re looking elsewhere, and are unable to locate a real estate website with an reo property feed, here are a few go-to sites:
www.homepath.com will show Fannie Mae properties for sale, and often show “coming soon.”
www.homesteps.com will show Freddie Mac properties for sale
www.pasreo.com will show Wells Fargo properties for sale
https://servicing.chase.com/reo/property/FeaturedProperties will show Chase properties for sale
https://citimortgage.res.net/ will show Citibank properties for sale
http://realestatecenter.bankofamerica.com/pages/map-search this site allows you to locate current Bank of America offerings.
While this is a partial list (many banks are offering homes for sale), at the bottom a more comprehensive list can be accessed. For local banks in your area, try googling the bank name, then reo- they may or may not have a property feed.
A few of the larger asset companies providing listed homes for sale are:
www.lps-am.com will show LPS properties for sale (asset company)
http://www.greenrivercap.com/property/Property-Listings.aspx will show Green River Capital properties for sale (asset company)
http://www.reoexperts.net/ will show NRT properties for sale (asset company)
For a great overall source list, we found the following link: http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
As long as I’m sending this info to my brother, it made sense to share it with others who find themselves interested in foreclosure/reo homes for sale, but aren’t sure about committing to a monthly fee required by websites…
While we can’t guarantee the accuracy of all property feeds, we’ve found with our own bank property listings that the feeds offered by most banks and asset companies keep their lists up to date. If you have any questions regarding North fork real estate, don’t hesitate to contact us!
Now, if I can just convince my brother that The North Fork or East End of Long Island, New York would work for him as easily as Northern New Jersey would….