Foreclosure in 11706>Question Details

Lorraine, Other/Just Looking in 11706

Is realty trac the best site to find forclosures? Are there any others? Use realtor for this?

Asked by Lorraine, 11706 Sat Sep 1, 2007

I have seen some forclosures in my area. I know the area and some look like good deals. Is realty trac the best place to start? Are there any other sites? Should I consult with my realtor if I am considering looking into buying a foreclosure?

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Hi Lorraine:

I do have access to RealtyTrac (which is a subscription site) on and off because I am curious of what's going on in my market. I have found that information on Reatly Trac can be outdated or many times, duplicate. Some of the homes came and went in Multiple Listing (of which Tax record supported) but Realty Trac can have different status.

It really takes a seasoned investor to work with foreclosure properties so I think you really should consult with your Realtor when looking for foreclosed properties. If you search Trulia, you will see information on Foreclosure and Short Sales. There are many steps to foreclosure and you really need to know where you, the seller and the property stand at a specific time.

Foreclosed property ususallly do not come with disclosures and depending on the kind of liens on the property, you might think you are getting a great deal, but ended up losing the title.

I am just scratching the surface; and I won't go into details because I think you might have to read a book about this. I am sure you will get other Realtor's input on this. But if I was you, I will contact my Realtor.

Good Luck on this!
Syvia
2 votes Thank Flag Link Sat Sep 1, 2007
Sylvia Barry,…, Real Estate Pro in Novato, CA
MVP'08
Contact
Also try foreclosure.com
A Realtor is always the surest way to go. If you are in the New York area you can call us @ (516) 986-0402
Good Luck!
0 votes Thank Flag Link Wed Aug 18, 2010
You can also look at my website for some other resources. Click on the forclosure link to see the list. Your realtor can also help you. Most of the homes I also see at auction now are foreclosures that did not sell with realtors. There are also links to the major auction sites there as well. Almost all HUD homes are foreclosures and you can check out their vendor site for your area. There are some listing services you can often use that also list the foreclosures before they happen, but it depends on what strategy you have to buy them. If you can buy for cash at the courthouse steps you might want one of the list services. If you want to pick them up after that and use bank financing, then use a realtor.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Mon Sep 3, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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RealtyTrac is OK but there was just an article out in our Local Newspaper describing how they have mis communicated the amount of homes in Foreclosure right now in NJ. They said that in NJ there was close to 5000 homes in foreclosure when in fact last quarter there was less than 500. They're supposevly going to reissue the facts. ALSO DID YOU KNOW THAT 97.4% of mortgage holders in the US are CURRENT.
Web Reference: http://www.agentjustin.com
0 votes Thank Flag Link Sun Sep 2, 2007
Lots of foreclosed properties are in the MLS. A Realtor can help you find those. Personally, I think there are a lot better "good deals" out there than foreclosures. The banks, typically, are owed so much more than the house is worth that they are no always anxious to sell cheap. On the other hand, in the last few years, we have found the best bargains from relocation companies and estates. The homes tend to be in better condition too.
Web Reference: http://mioaklandcounty.com
0 votes Thank Flag Link Sun Sep 2, 2007
Maureen Fran…, Real Estate Pro in Birmingham, MI
MVP'08
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You can also call your branch manager at your bank and ask for the website address for REO (bank owned properties.)
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sat Sep 1, 2007
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
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Google HUD or go to my site and look for the button.
0 votes Thank Flag Link Sat Sep 1, 2007
Lorraine:
Sylvia is right. When you search "foreclosure" on this site, click on the sort for "recent activity". You will get better results than when it is automatically sorted by "relevance." I have a lot of experience in TRYING to buy foreclosures and having subscribed to RealtyTrac.com. Here is one of my many posts on the subject:
http://www.trulia.com/voices/Home_Buying/How_do_you_go_about…

Good luck,
Ruth
0 votes Thank Flag Link Sat Sep 1, 2007
Ruthless, Other/Just Looking in 60558
MVP'08
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