Are there any foreclosure websites?

Asked by Maxine, Portsmouth, VA Wed Jan 16, 2008

Is there a website that provides free detailed information about properties that are in foreclosure?

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9
Charles Lewis, Agent, Virginia Beach, VA
Mon Mar 7, 2011
We offer a free service to consumers where we provide them with a list of Chesapeake foreclosures and we will also have a "Property Research Program" where you send us an address and we send you as much detailed information that we can about that property.

For the free list of chesapeake foreclosures go to http://www.buychesapeakeforeclosure.com/
0 votes
Eric, , Los Angeles, CA
Mon Jan 3, 2011
Hi Maxine,

There are many places to look for this info. You first have to decide how much time you have to look initially. If you have plenty of time to research on your own, you can check local directories, papers, courthouses, bank sites etc. However, if your time is limited like many of us seasoned real estate pros, it'll be worth your time to sign up with one of the companies that aggregates all this data into one place. It's not the end all, but a good starting point to get the detailed info you are looking for.

You can easily narrow down by region through these sites if you are only interested in Chesapeake too. Hope that helps!
0 votes
The Hagley G…, Agent, Pleasanton, CA
Sun Nov 2, 2008
this has listings of foreclosed homes from various lenders....
0 votes
Jennifer, Home Buyer, Washington
Sun Nov 2, 2008
elivemortgage.com, I just found them the other day and its all free. All the banks listings,government you name it. Hope this helps
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Perry Hender…, Agent, Austin, TX
Sat Jan 26, 2008
FORECLOSURE REALITY CHECK.... Seasoned investors who buy foreclosures know the REO manager at the bank and get "off market" deals. They never have to bid or find a place to learn what's available.

FOR ALL OTHERS: The only "sellers market" in america is the foreclosure market. Don't expect any deals from a foreclosure as the bidding process brings 20-30 people to bid on almost every deal. A deal that was already priced at market. For government foreclosed homes, by law, they have to be priced "at market".

The REO manager has a short list of "cash/close in 2 day buyers", they always get the first right to bid. Then they have to wait for the "public auction" Which drives up those prices. After a 30-60 day period. Then the REO picks the best bid. Sometimes, only sometimes does a REO manager take a property directly to a buyer he knows peronsally. Why should he, he has a bunch of people bidding and driving up the prices.

My REO manager friend likes to joke about all the "first timers" who continue to drive up the bid when they don't hear anything from the bank. Every time I see the "how come I haven't heard from the bank about accepting my foreclosure bid after 30+ days" on trulia, I have to let out a chuckle because he's so right. For those newbies, this is real. They know that when you don't hear from them that a large percentage of people drop a second or third offer higher than the previous one. **WARNING, YOU ARE BEING TAKEN ADVANTAGE OF HERE**

You want a deal on a property right, everyone wants that.... So the moral of this story is:
1. the 60 days you have to wait to hear from a REO, you could have made 2 or 3 better deals with a property that has been on the market for a long period of time. Any realtor can help you drop a crazy offer.
2. You are attempting to make a deal in a house covered in a cloud of bad energy, don't be surprised when it rubs off. Personally I stay away from these for this reason entirely.
3. One way to get a deal is dropping a hand written note on ANY house in a neighborhood you want to buy that says "my girlfriend and I want to buy a house in this neighborhood and yours looks cute from the outside. Do you know anyone that is looking to sell?" I always get responses, better prices and positive energy into the home.
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Frank Bigans…, Agent, Newport News, VA
Sat Jan 26, 2008
Maxine,

I'm a Realtor in the area and I'd be happy to help you at no cost or obligation. But there’s a few things you need to know about foreclosures or HUD homes: you do need to have some cash money to place down as a good faith deposit, and you do need to have a decent credit.

Are you a cash heavy buyer or investor, or are you looking for a property with little money down.

Call me if you want, and perhaps I can help answer any other questions you may have.

Frank Biganski, Realtor ABR
(757) 303-0517
0 votes
Prudential L…, Agent, Honolulu, HI
Mon Jan 21, 2008
yup, foreclosure.com is very user friendly.
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john womeldo…, Agent, Williamsburg, VA
Wed Jan 16, 2008
You could also ask an agent ( like me) to provide you with listings of bank owned properties (REO) that have already gone to foreclosure in the Hampton Road area
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Danilo Bogda…, Agent, Reston, VA
Wed Jan 16, 2008
Check out RealtyTrac (link below). Pretty good though not always up to date.
Web Reference:  http://www.realtytrac.com
0 votes
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