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Sourcing worthwhile Foreclosure Listings

Foreclosure properties are a sensible investment in today’s market condition as an investor can pick up a property well below the market price and gain equity immediately. It is important for an investor, broker or real estate consultant to conduct an analysis by comparing Foreclosure Listings in order to make an informed decision when purchasing a property. Many resources for these listings are available online but a closer look reveals that there are three comprehensive guides that provide timely, accurate and wide scope of information related to Foreclosure Listings in USA. Information is the key to getting the right deal for any investor!

RealtyTrac: This web-service gives accurate and comprehensive information on the properties listed. The key features in this service are: listings from 50 states, ability to search for a property using not only in the city / state but also through the zip code or county, detail of which stage of foreclosure the property is in, homes listed by owner or broker, the date of listing, asking price, the number of bedrooms and bath, any outstanding default amounts or tax due on the property. Also, the listings are updated daily and some of the properties also have Google location maps in their data list. It is an ideal site to gain information on the process of foreclosure and the laws applicable to each state and the demographic profile of communities, which in all help an investor make an informed decision. The site has a smaller Foreclosure Listing as compared to the other services, however an amateur or seasoned investor both can appreciate the depth of information it provides. What the site lacks is information on legalities, history of sale and re-purchase of the property, and the percentage of equity.

Foreclosure.com: This site provides detailed foreclosure listings of the largest number – over 1 million properties - on an online service. The main disadvantage on this site is that it does not provide the date the property was listed or additional informative documents and default value. Apart from that, it has the advantage of listing properties which are pre-foreclosure and also foreclosed and has the most comprehensive search features that will prove indispensible for any realtor or investor. Their national database of properties includes those repoed by the government like HUD, Fannie Mae, VA and also those available in auction, NOD, REO etc.

Bargain Network Homes: It is a speedy and accurate service with comprehensive information on government and independent foreclosure listings. Its search features include address, state, property value range, bedrooms and baths, and date of listing, availability, along with state laws and reports relevant to the property, tax or loan amount information, status and more, which prove useful to investors. The main feature that hampers the use of this site is that a user is allowed to cancel the account only through phone and that proves to be a major inconvenience especially in today’s age where such an option seems outdated.

Since time is the key factor in striking a good deal, it is advisable to utilize accurate resources like these sites for foreclosure listings to gauge the market potential of a foreclosure property as they provide a wide range of information and allow an investor to make an informed decision. An online search for Foreclosure Listings negates the hassle of checking physical files and listings of each property at the county house, a process which will take more time and not provide you enough information on a plethora of properties available online.