I know Jillian Grace and I can assure you she did not buy a condo for $45,000.

There are some great deals out there, you have to watch the market and act quickly when they come up (dont' tell your realtor when they call that you are busy right now and to call you back tomorrow because tomorrow that deal will be gone if it's really a great deal).

If a realtor has you on one of their "auto" systems and is sending you the listings as they come on the market, you can get the information as fast as it is entered in the main database and the other realtors get it so you know when the homes and condos come on the market, BUT - you need to keep in mind that it's not just price - some of the lower priced homes and condos aren't in great condition and need work to make them liveable or come with liens that have to be cleared.

At the same time, there are some that were repossessed by the banks because they were commercial loans that were in great condition and the investors didn't want to give up but the banks didn't want to extend the loans and other banks wouldn't pick up the loans (investment/commercial loans are often only 1-3 years long) or other circumstances caused a home or condo to be sold where it wasn't left in bad condition and the owner just needed out. I've seen some foreclosures that were recently remodeled and were truly walk in and unpack perfect that were fabulous prices, but those are the minority of the foreclosures. Freddie Mac even has a special program to fix up some of their foreclosures to help them sell called HomeSteps.

Work with a realtor in the area that you are interested in buying in. A realtor doesn't always have the time to watch the deals for you instantaneously (a realtor who is working will review them several times a day, but will be too busy working with people during the day to sit at a computer or on their pda and watch to see if that great deal is popping up right now - the realtor who is doing that has no other business or clients that they are dealing with). You won't find the great deals on a daily basis either - you will have to sift through a lot of junk and kiss a lot of toads to find the really great deals. Good luck - let me know if I can help!

There are several condos listed in the Springfield area priced under $100,000. It is absolutely possible to purchase something for $45,000, especially in today's market.