BEST ANSWER
Hi Evelyn,
A lot of these properties get listed in our MLS. Unfortunately, you will find out that they are short sale and/or foreclosures in the agent information part of the listing, so it's not easy for a consumer to readily identify them. If you would like to review what is currently listed as a short sale or bank owned, I'd be happy to send you out listings to review. I can also keep you updated as new listings come on.
Keep in mind, though, that not all bank sales and/or short sales are the best bargains out there. There are many distressed sellers and you might find a better deal with one of those sellers than with a bank. A good local agent who knows the market and has a good network of agents to work with should be able to identify those properties for you.
Also, if you have not heard about the pitfalls of buying foreclosed/short sale properties, do some searching on Trulia here. It's not as easy as one might think, and some of the properties sold are in pretty rough shape!
I would not recommend Realtytrac because many of the homeowners buy themselves out of foreclosure and the homes are never listed for sale.
Good luck to you, whatever you decide!
Thu Sep 24 2009, 17:47