Hi Jojo,

Properties in this price range in this area goes pretty fast and often attracts multiple offers. I would suggest working with a Realtor that is familiar with the area and not wait for the future. The agent can advise you of new listings that may fit your needs. If you can buy now, don't wait.

Besides looking for active listings on http://www.mlslistings.com, you can also have an agent help you out with finding homes that you are interested in. What are your requirements besides $300K (is that maximum price?). Are you preapproved? If you buy when you are ready or find the right home and you are staying in it long term, then whether there are foreclosures or not coming up then, you are living in a house that you are happy with.

If I were you Jojo, I would focus on finding the "right" home, whether it's now or at the end of the year. First things first, are you pre-approved for a home loan? If so, then it's time to start looking. If not, it's time to go and get approved for a loan. This will save you a ton of time.

Then it's time to find an agent. You might find one here on Trulia, or by a referral from a friend or family member.

If you have not found an agent yet and want "real" listings on the MLS, email me and I will link you to the MLS so whenever a new home comes on the market, you will receive an email in the price range and area you are looking.

Good luck,

Dave Tap Tapper
Realtor
Cashin Company http://www.DavidTapper
redt4u@aol.com
650-403-6252

Your first answer makes many excellent points.....contacting a real estate agent in an area that you are particularly interested in is the best way to find homes that are currently on the market. Yes many foreclosures will hit the market...but what will the interest rate be??? Also if you are a first time buyer
the deadline to get the tax credit UP TO $8,000. is that escrow must close by midnight on November
30th.
If you want to look in Redwood City and nearby, I would be happy to help you. Donna Black, Cashin
Co. 650 888-9314

Hello Jojo... You are so right... there are lots of listings on the internet... I dont know exactly where you're looking but it sounds like you're not getting the complete picture for the property/ies you're considering... In this age of technology that we're all engrossed in... its truly become a fabric of our lives... It is a huge source of information and yet no matter how much reserach one does on the internet... there's something to be said about the knowledge and expertise that you cant replace using the internet and that is the help and guidance of a dedicated full-time licensed realtor.

Realtors know how to help and guide their clients not only to find the property but to make the offer, to represent your best interests in the transaction, to assist with the inspections and reading of all the reports and disclosures and the maze of required paperwork involved. A realtor can help screen out all properties to come up with the best suited for your needs... they can explain to you what a short sale is, what a foreclosure is, what an NOD is, what an REO is, what a straight sale etc... Jojo not one transaction or property is the same... You need to be clear what your focus is...
Do you want to buy any home at $300k or less?
Do you only want to buy a home that is "distressed" ie) a short sale or reo?
You need to understand all that goes with the kind of property you go after...

Waiting for more foreclosures will do what for you?... The interest rates are excellent right now... who knows what the rates will be later...

If you're ready to buy now... you should definitely buy now... no reason to wait. if you wait longer you may not qualify to get the $8,000 tax credit... its due to expire very soon.

Jojo you would definitely be best served to retain the services of a good reliable licensed realtor... first source to go to if you dont have one already... is your friends, co-workers and relatives... if no one can give you any referrals... I'd be happy to help you find one in the area you want to buy... Feel free to contact me at 888.880.7708 x98 or 925.997.2426 or email me at isiwu@comcast.net anytime...

I hope this makes sense to you... please let me help if I can...
Good Happy Hunting Jojo...
Isi