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Great Resources for Finding Foreclosures

We answer this question every day: how do I find foreclosed homes? With the number of foreclosures on the market, it’s not surprising that home buyers are looking towards foreclosures as a way to save money on their dream home. But with all of those real estate sites out there, where do you look first?

Step one is always establishing a great relationship with a Realtor. This way, when you make your short list of possibilities, you can turn that list over to your Realtor and let them do the “heavy lifting” for you (i.e.: research the properties, run comps, determine proper bid amounts, etc.).

Step two is the list of site that follow. Some are free and some are paid subscription services, but all can help you narrow down your home search strictly to foreclosures and bank-owned homes. Happy hunting!

Foreclosure.com (paid) – this site lets you easily search both foreclosed and pre-foreclosure homes. A 7-day free trial is available and then membership converts to a paid subscription.

InvestorLoft.com (free) – designed for the real estate investor, you can narrow-down your search to REO/bank-owned homes. A great site for running the numbers to see if a foreclosed home really is a good deal.

Oreolist.com (free) – simple to use and easy to navigate, you can search by state and then by lender lists of foreclosed homes. While not a sophisticated site, the data is easy to read and gives you what you need so your Realtor can do the legwork for you.

The Staff at San Juan Realty, Inc.

SJR October 8 2009

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