You have to use extreme caution with this type of service. I am a REALTOR in Bullhead City and constantly get "offers" to sign up for this type of service. There are legitimate services out there however, more often than not it's just a way to separate you from your hard earned money...
It sounds like you did the right thing: Work with a local REALTOR and get updated lists of foreclosuresfrom him/her. The process can be easily automated so it takes minimal effort to stay on top of new opportunities.
I hope this helps... - Mon Jun 1 2009, 10:48