Foreclosures: Super real estate buying opportunities

Why Foreclosures?

You may be interested in buying a property to live in…You may be interested in buying a property for resale at a profit…. You may even be interested in buying a property as an investment for rental or lease . Whatever the reason the best PRICE is always preferred. At this time especially with the advent of so many defaulting on sub-prime loans, foreclosures are becoming the best deal in real estate. Real Estate Analysis forecast the foreclosure rate to double or triple through 2008.

Where to Find Foreclosures?

The most reliable ways to find good foreclosure property listings is to hiring a business that specializes in foreclosure properties. You can find good foreclosure listings services on the internet and your local business directory. These businesses specialize in gathering in-depth data on all foreclosures.

Another method for finding good foreclosure listings is your local paper or banks and lenders websites. You can pick up this information from these establishments personally, usually at specified time of the month.

Another avenue for acquiring real estate is a broker that specializing in selling foreclosure real estate. They usually acquire these foreclosures from auctions. Even these foreclosure properties are still a much better deal than traditional avenues of purchasing real estate. REO’s are also added to these in list in order to make them more available to potential property buyers. A foreclosure list can usually be attained from your local real estate broker and will contain all foreclosed properties available for sale.

There two types of real estate buyers interested in foreclosure property those looking for a home to live in and those looking for a business investment. For the individual with the ability to find information on the web and/or track down these institutions with the foreclosure list the information is free sometimes. For those who don’t have the time for the legwork this information can be purchased on the internet or the lenders and brokers for a price. No matter what your interest in foreclosure opportunities are available for all.

An additional resource of good foreclosure information is Ernani Uchoa. Ernani Uchoa is a freelance writer who writes about Foreclosure Real Estate regularly. You can find information on foreclosure real estate for the entire country at http://www.foreclosuredeals.com

Factors to Consider when buying a Foreclosure

Location is as all ways a big factor in purchasing property even foreclosed property. Location is very important if you plan to resale, not so important if you plan to rent the property. There are some locations where you would have a hard time selling but rent is very easy. Everyone needs a place to live even those who can’t afford to buy.

Advantages of Buying Foreclosures

Many times these properties are sold for a price based on amount remaining in the loan. Auctioning these properties is a common method of relinquishing this real estate. As in all auctions, the highest bidder wins. Sometimes these homes sale for one tenth there original perches price. There many factors that can determine the outcome of a auction. Where it’s being held, what time of the day, even how much ad and lead time was given to the auction. Properties not auctioned off are returned to the creditors and can be enquired about at their offices.

Real Estate Analysis are predicting hundreds of thousands of the sub-prime loans to default and go into foreclosure within the next couple of years. So foreclosure opportunities are only going to get better in the foreseeable future.

Article By Thomas Hardgraves

Foreclosures and real estate opportunities. You can learn more by visiting my blog, http://forclosuremoney.blogspot.com/ http://forclosuremoney.blogspot.com/

How To Get Started In The Foreclosure Industry

By Angela D Griffin

FORECLOSURE ACTIVITY IS AT AN ALL TIME HIGH.

Due in part to a greater share of nonprime mortgages, which inherently come with higher default rates; payment shock that comes when non-traditional mortgage products reset to higher monthly payments; and the low amount of equity in many homes.

This turn of events has caused many individuals seeking new careers to investigate the foreclosure industry. It can prove to be a very lucrative and satisfying career choice allowing you to take control of your future and generate a sizeable income as your own boss. However for the inexperience the industry can ALSO be very confusing and risky. So avoid losing your shirt by doing your homework first. Here are a few tips to help you get off to a good started.

ANYONE can learned the skills needed to wisely invest in Foreclosure Properties. Most people have very little real estate experience they simply have learned skills that are widely available to everyone and then systematically put these skills into action.

HOW TO GET THE SKILLS YOU NEED

A valuable resource to help you develop effective techniques and gain real world experience can be found through mentoring. Select someone in the industry that is respected and experienced. You want someone who perhaps has been in the same position for a number of years. Then simply ask them for a mentorship. NOW HOLD ON - It's not as hard as you might think. It can't hurt to ask. If the person is not inclined to share his knowledge and experience on a complimentary basis offer an incentive. For example offer to split the profits of a job or give them the option to specify another mutually beneficial arrangement. Remember the opportunity to pick their brain and learn from their experience is priceless. Whats next- RESEARCH, RESEARCH AND RESEARCH.

Foreclosure research is a fundamental tool and a critical step when investing in foreclosure real estate. It might be a good ideal to formulate a checklist of things to be considered before your invest a dime. Also become proficient at pinpointing foreclosure leads, then focus on accumulating as much information about the foreclosing property as you can you'll want to carefully analyze all the information to determine weather to follow or dispose of a lead. NEXT STOP. Were to look for leads? You will be happy to know a wealth of information is available to you FREE through the county court and records keeping divisions for each county in the nation.

AND Don't worry - for those of you shy about wondering around in downtown government building you can have complete PUBLIC access to thousands of counties across the nation right from you home office. These court files and recorders office records are available electronically on the Internet and computer database data feeds. Sounds like the perfect setup for that growing work at home crew. Well that should keep you busy for now. But just for kicks here is an excellent resource for researching leads go to www.homesales.gov. Its your one stop shop for information. Also Keep in mind, that foreclosures are just one area where you can find distressed properties for less. Due to constant changing circumstances of peoples lives ( i.e., divorce, a change of jobs etc ,.) this often results in foreclosure situations that you will be able to capitalize on. Just make sure you do your homework first.

QUICKREADS- is an information resource providing snapshot insights on marketing an business related topics. To learn more about foreclosure investing, please visit my blog http://buying-foreclosure-quickreads.blogspot.com/

Article Source: http://EzineArticles.com/?expert=Angela_D_Griffin

How To Buy Real Estate - Foreclosures and Profit

By Leslie West


Real estate prices may be rising rapidly, however the knowledgeable and sensible investor will welcome the opportunity of a real estate foreclosure to increase his equity in real estate investments. Foreclosure is a procedure which enables the acquisition of real estate in affordable, if inflexible terms. Foreclosure ensues from the failure of the homeowner to pay his monthly payments to his creditor. Once the mortgagor has become insolvent, the bank or other type of mortgagee is entitled to post the property for public sale. The property from which they can no longer obtain any repayment is sold at public auction.

Subsequently, foreclosure for the mortgagor creates a negative credit posting and the possibility of increased income tax liability due to mortgage relief reported on a 1099 form. All kinds of legal entanglements could occur if fraud is involved in the obtaining of the financing. However, selling the property prior to foreclosure or giving a deed in lieu of foreclosure to the lender will help some with the credit blemish.

Purchasing properties at foreclosure is definitely one method to obtain bargains. Pre-foreclosures are another excellent opportunity to problem solve and profit. Most homeowners want to avoid a foreclosure with its financial consequences. Homeowners must be approached with the intent of helping them get out of a bad situation. They are vulnerable and do not need exploitation by greedy and morally challenged hucksters.

Solving the financial problems of the homeowner is not your responsibility. Your concern is acquiring the property at a fair price. Obtain the facts and check their accuracy before making a formal offer. Create back-doors or escape clauses to keep you from unanticipated problems. Try to take the property subject to the mortgage in order to minimize your risk. Check the title before, during and after contracting with the seller. You are looking for tax liens, federal tax liens, judgements and other encumbrances on the property. If the numbers do not work for a pre-foreclosure purchase you can pursue a short sale with the lender. This is basicly filling out a packet of forms with information so the lender can determine it is in their best interest to accept less than the mortgage owed. Rest assured you must do the work and know what to do in order for a lender to even look at your offer. A short sale can increase your profits dramatically. Short sales can be done before or after a foreclosure.

Foreclosures are great opportunities to acquire property. Finding properties in default is best if your friends inform you before the lists are published and more competitors appear. Become knowledgable about the properties title and physical condition. Determine how best to solve the homeowners house problem. Do not give up if the seller is stubborn or unreachable. Look for other solutions such a s a short sale. Do not settle for skinny deals. Plan for massive profits and only seek out properties you feel confident will satisfy your needs.

Leslie J West is a writer, publisher and real estate investor. Please visit ArticleGuild Article Directory or Setting-the-Standard Article Directory. Real estate flipping articles are at QnaGold.com Real Estate Flipping.

Article Source: http://EzineArticles.com/?expert=Leslie_West

Short Sales Foreclosure Techniques - Finding the Perfect Proprerty

By Leslie Collins Platinum Quality Author



If you’re a foreclosure investor the next few months or possibly years will be a busy as well as profitable time.

If you can accurately spot and quickly evaluate short sale candidates, there’s no doubt you can profit in this current real estate market. By simply evaluating a few criteria about the borrower you will not waste time pursuing properties that have little chance of being accepted by the lender as a short sale canditate.

Before aggressively pursuing a short sale strategy on a property in default, make sure the borrower fits this profile below:

First the homeowner should be 3 payments behind in mortgage payments and a foreclosure suit will have been filed by one of the mortgage lenders by this time the property is listed with the County Recorder and has been issued a NOD (notice of default).

Second, the owner should have little, no or even negative equity in the property. This means that the total balance owed on the mortgage is equal to or more than what the property is worth. The term “upside down” is used frequently to characterize this type situation.

Third, in order to be a good short sale candidate, the owner needs to prove some kind of hardship case. In other words, there needs to be a good reason for not being able to make continued payments on the loan. This could be loss of job, divorce, medical reasons etc. Typically this means that reinstatement of the mortgage is not going to happen and the options for the borrower are to either try to short sell the property or face foreclosure.

Keeping these 3 criteria in mind will help you build a solid - viable list of short sale candidates.

You will also need to keep your potential list of properties current. You need a consistent way to QUICKLY search for properties in your area that are in default. In the past this amounted to a lot of manual labor but not so anymore. You can receive daily updates online on all properties listed as default for free by visiting the link below.

For 15 years Leslie Collins has been helping all types foreclosure investors get the information they need to profit in the foreclosure market. Visit: Free Foreclosure Listing Resource

Article Source: http://EzineArticles.com/?expert=Leslie_Collins

Online Foreclosure Listing Service

By Hyder Khan


Online foreclosure listing services are an invaluable resource for every foreclosure investor, and may well be the lifeblood that feeds the foreclosure pipeline with new leads on a daily basis. Foreclosure research that would otherwise take several hours or days of manual effort can be condensed into a fraction of the time, if you leverage an online foreclosure listing service.

Without an online foreclosure listing service, real estate investors would need to physically drive to:

* the county sheriff's office to find the notices of default, the lis pendens notices, or the list of properties scheduled for public auction
* to the county recorder's office to look up real estate transfer and lien records,
* to the county tax assessor's office to look at property tax records and to obtain the property's tax assessed value,
* and to the county courthouse to look up the actual lis pendens court case (in a judicial state)

...all with the aim of researching foreclosure deals.

If you haven't guessed, this is a very time-consuming process that requires a lot of manual research, and travel, not to mention that you would need to either pay to photocopy / print the information you find, or to take notes by hand, depending on whether this information is stored in a computer system or not. You are also limited to business hours, typically from 8am to 4pm.

All these can pose a problem for the part-time foreclosure investor who is maintaining a day job while trying to do deals on the side. When would you have time to go to the county government offices in order to do the research properly? During your lunch break? Or just before or just after work?

When I first started doing real estate investing, I used to do exactly that! My work would start at 9am but the county recorder's office opened at 8am, so I would drive to the recorder's office and be there at 7:55am to do the research... But the problem is that I had to be at work at 9am, so I ran the risk of running late for work... and then if I were to lose my day job, I sure couldn't "fall back on" real estate investing, so I was a relative newbie at the time.

So after about a week of this (I even tried leaving early from work to head over to the recorder's office, or even going during lunch, but you really don't have much time. One hour is not enough time to do manual research. You have to drive to the offices and drive back. That takes away time from the research.

Doing manual research is extremely inefficient. Now don't get me wrong! I think every newbie real estate investor ought to learn to do the research manually when they first start out. This way they can learn the basic concepts of how the foreclosure life-cycle works, how to determine what information to look for, and how to get an idea of good vs. bad deals. But this should only be for learning. If you truly want to succeed in the foreclosure investing business, you need to be able to process all of the leads that come through. What if in your county there are 200 properties in foreclosure at any given moment. There is no way you can manually research 200 properties in a timely manner.

Even if you are doing the business full-time, it would take you at least (let's say you're really fast) 10 minutes to research one deal, and there are 200 leads you need to get through. That's a little bit over 30 hours of research. And those 30 hours can only be done during the business day. So when are you going to go driving by houses and knocking on homeowners doors? Driving from house to house itself can take up several hours per day.

This is where online foreclosure listing services come into play. What is an online foreclosure listing service and what does it do?

Essentially, an online foreclosure listing service provides the following services:

* A team of researchers will go to the county offices and conduct research on every real estate foreclosure in the county. This includes the property transfer history, mortgage and judgment lien history of the homeowners, the property tax amounts and payment status, the assessed value, the foreclosure initiation and auction dates, the minimum bid amounts, and the appraised value of the property.
* In some counties across the country, much of the data is already made available in an online format, so the researchers would be able to leverage this to compile their research.
* The foreclosure listing service will compile all of this information and make it available to you either online or through e-mail or even through hard copy if desired.

In the case of online availability of data, you would simply subscribe to the online foreclosure listing service website and you would be granted 24-hour unlimited access to search through millions of foreclosures nationwide. The data is updated daily.

Foreclosures are on the rise. Why spend your valuable time at the courthouse researching government records when you can "outsource" your foreclosure research and analyze deals in real-time online, to weed out the good deals from the bad, and then spend your time actively pursuing those deals? Register with http://www.ForeclosureDataWeb.com - the most trusted online foreclosure listings service on the Internet. Listings are updated daily.

Article Source: http://EzineArticles.com/?expert=Hyder_Khan

Finding Great Deals On Foreclosure Properties Doesn't Have To Be A Pain!

By Jacob Daniel


Before the Internet explosion, finding foreclosure homes meant buying expensive lists or knowing someone on the inside, with certain information. Now, with the internet, people are finding loads of useless information relating to foreclosure properties, or websites that are out to make a quick buck, without providing you relevant content…

If you are frustrated by all the useless and outdated information on the internet, you will find that we are your one-stop resource for information on foreclosure properties, and foreclosed homes.

You can’t buy foreclosure properties before you locate them, which is a challenge in itself. We are changing the way foreclosure properties are found. To find out what foreclosure properties are available in your area, you can search the online database within each of these preferred sites to find foreclosed houses for sale.

There are so many reasons to buy foreclosure properties in your specific area, but the most prominent is the incredible savings and potential for long term wealth. Are you an informed investor looking to make money buying foreclosure properties? You can become one by searching the foreclosure properties and foreclosed homes database in your specific area and targeting homes that have BIG profit potential.

The websites that we reviewed below contain all the properties that are currently facing foreclosure. Bargain Network has homes as low as $10,000 and are continually updating the newest listings, the most homes in each zip code, and by far the most pre foreclosures. Bargain Network also has the great articles to help you learn what a foreclosure is, how the process works and how you can buy a foreclosure property in your area, for cheap!

Websites like those listed below maintain databases of thousands of foreclosure and pre foreclosure homes and allow home buyers to search by state and zip code, zeroing in on their target area.

The best foreclosure listing services will give the buyer up-to-date, detailed information about all properties that are currently available. With each of these online foreclosure listing services, you can get all the information you want without leaving the comfort of your office and spend your time on more important details, like closing the deal and getting the bucks!

Top 3 Foreclosure Listing Sites Reviewed! Click Here... To Find deals on Foreclosures from $10,000... http://listing-sites.foreclosure-money-review.info/

Article Source: http://EzineArticles.com/?expert=Jacob_Daniel