ask any agent to run a mls search for "bank owned" or REO properties

Hi Sheyanne, there are a number of homes in foreclosure at any one time in Dubuque, though nowhere near the numbers that have been experienced in other communities. Luckily, at least for the health of local real estate values, our local lending community has been very conservative in their standards and requirements in making mortgage decisions these last few years - not a lot of "exotic" mortgage products.

Tracking foreclosures can be problematic as there is no one set database that is easily searchable for foreclosure homes. Sometimes it takes several months for a home to go through the process of the bank buying the note back and then eventually putting it up for puplic sale. That said, there are at any one time approximately 10 to 20 bank-owned homes in the MLS when searched. RealtyTrac.com does a fair job of tracking local foreclosures so you might want to try them as well. Try the HUD website, there occasionally is one or two there as well. Another resource would be the Dubuque County sheriff website, they have a list of upcoming auction sales that you might take interest in.

I personally bought a foreclosure this last year, found it on the HUD website, flipped it and made a fair amount of gain. If you have any other questions about the foreclosure process or resources to locate them.

A licensed Realtor will have access to the foreclosure information you are looking for. I don't recommend trying to buy without the assistance of a professional. To many unexpected issues that might cost you tons of time and money. A Realtors services are usually free to buyers even in short sale situations. Your local realtor will have information on possible short sales in your area as well. Good Luck