Yes, the market is flooded with foreclosures and short sales. Having started real estate in a strong market, I find I need to learn more about weak market realities, and that certainly means foreclosures these days.
For now, I have found it best to read information provided by other people ... when I feel like I can summarize all in a concise and logical manner, I will. For now, here's some links with good information:
- http://www.realtytrac.com/foreclosure/overview.html
- http://www.realtytrac.com/education/noframes/documentation/Glossaries.html
- http://www.realtytrac.com/education/noframes/documentation/HowToBuyForeclosures3.asp
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