Last Updated on Tuesday, 29 December 2009 21:39
Written by Scott
Top 5 Real Estate Sites For Finding Foreclosures
With all the hype surrounding the real estate market and noob after noob losing their home due to sub-prime mortgages, interest only loans and ARM loans seasoning - the foreclosures are plentiful and so are the deals.
As investors, using the internet in your everyday research, online search is the first line of attack when looking for foreclosures. If you take time and effort to not only locate available foreclosures, but also research their tax and notice information, collect title information from sites like http://www.netronline.com/ and also drive by the homes after you've done your due-diligence to view them inside and out, you will have a better chance of successfully purchasing homes.
I'm sure your wondering where the best places for a l33tl3t like you to be looking for the deals, right? Here's a list of the top 5 that PWN Homes found as the best on the web.
Keep in mind - this list is not in order of best or worse - as far as were concerned, their all just great sites that will assist you in finding homes to pwn. Some of these sites do charge a fee for their service.
I have found that you have to check the sites daily to be on top of the deals, otherwise too many people are looking at them. Try to stay local in your searches and constantly checking back. Trust me, there are gems out there, you just have to get them while the fire is hot.
HOUSING AND URBAN DEVELOPMENT
http://www.hud.gov/local/index.cfm - US Housing and Urban Development site lists homes by state that have been foreclosed on by the government. Some of these states use local affiliates to auction their homes and some use national distributors such as bidselect or realtytrac. There are many good deals found here, especially for the "move in" investor that may buy, move in, fix and sell. Some require that a licensed Realtor input your bid, so check your state before bidding.
Some of the Uber Investors here at PWN Homes have personally bought homes through this site, so keep your eye out - there are deals out there.
http://www.realtytrac.com/ - Seasoned investor or noob, you've either heard of this site or wish you did. Probably the most extensive list of foreclosures on the internet. Not only do they track and list a large majority of the foreclosures in the U.S., they also provide detailed status information, forums, and even analysis reports. This is a pay site, so if your looking for free - better buy some shoes and hit the streets. They also provide foreclosure data to Yahoo, AOL, and MSN.com - not bad.
http://www.foreclosures.com/ - I like this site for a few reasons. Not only do they have a very organized structure and receive well updated data from the courthouses around the country, but they seem to provide more information on each home than most. I did find some homes that were stale on occasion, but for the most part, they do a good job of updating their lists. You will find many different foreclosures such as REO's, privately held assets and even HUD/VA homes.
http://www.homesales.gov/ - Great starting point if your looking for either HUD or Veterans Administration (VA) Foreclosures. I love to check this site regularly because it is easy to navigate, up to date listings and has the perk of lots of other auctions on the site such as land, cars, and even jewelry. Sweet site - bookmark and enjoy, noobs.
http://www.ocwen.com/ - Never really cared for the company because of their shady and slow practices in paying their agents for the property management they do on ocwens properties, but still - great site for finding VA foreclosures. Ive been on the buyers end of some deals with this site and they are horrible at getting to the closing table. If you can get past the red tape, no returned phone calls, and even see past the way they treat their agents, hit this one up for some discounted homes.
Heres a couple bonus sites to look into while Call Of Duty: WAW is loading a new map..