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<channel>
	<title>Free Foreclosure Listings</title>
	<link>http://www.free-foreclosurelistings.com</link>
	<description>Find Real Estate Investment Deals in Foreclosures</description>
	<pubDate>Thu, 18 Jun 2009 18:20:10 +0000</pubDate>
	<generator>http://wordpress.org/?v=2.1.3</generator>
	<language>en</language>
			<item>
		<title>Foreclosure for a Grand!</title>
		<link>http://www.free-foreclosurelistings.com/foreclosure-for-a-grand/</link>
		<comments>http://www.free-foreclosurelistings.com/foreclosure-for-a-grand/#comments</comments>
		<pubDate>Thu, 18 Jun 2009 18:20:10 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Real Estate Investing]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/foreclosure-for-a-grand/</guid>
		<description><![CDATA[If you are interested in making money in foreclosures and you live in a town with at least five thousand people, you have the opportunity to make $60,000 to $300,000 or more per year!
You don&#8217;t need tons of capital or the best credit history.  With as little as $100 down (even with bad credit) you [...]]]></description>
			<content:encoded><![CDATA[<p>If you are interested in making money in foreclosures and you live in a town with at least five thousand people, you have the opportunity to make $60,000 to $300,000 or more per year!</p>
<p>You don&#8217;t need tons of capital or the best credit history.  With as little as $100 down (even with bad credit) you can get into foreclosure properties worth thousands!</p>
<p>Just pledge $1 and get instant access to a wealth of resources that will show you the exact strategy.</p>
<p><a href="http://x.azjmp.com/2ng1g">Get started today! </a></p>
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		<title>Investing in Hawaii</title>
		<link>http://www.free-foreclosurelistings.com/investing-in-hawaii/</link>
		<comments>http://www.free-foreclosurelistings.com/investing-in-hawaii/#comments</comments>
		<pubDate>Mon, 16 Mar 2009 01:12:31 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/investing-in-hawaii/</guid>
		<description><![CDATA[An excellent place to invest in vacation real estate, yet stay within the United States is to go some place like Hawaii.  There are a lot of places to invest in Hawaii, but nothing is better than investing in Kauai Real Estate.  Kauai offers a unique cultural and natural experience that is highly desired with [...]]]></description>
			<content:encoded><![CDATA[<p>An excellent place to invest in vacation real estate, yet stay within the United States is to go some place like Hawaii.  There are a lot of places to invest in Hawaii, but nothing is better than investing in <a href="http://www.sleepinggiant.com">Kauai Real Estate</a>.  Kauai offers a unique cultural and natural experience that is highly desired with many US investors.</p>
<p>The Island is divided into five different sections, including Hanalei, Kawaihau, Lihue, Koloa and Waimea.  Waimea is the largest by land area, Koloa is the southernmost, Hanalei is the northernmost with Kawaihau and Lihue to the east of the island.</p>
<p><a href="http://www.sleepinggiant.com">Kauai Real Estate</a> prices range from single family homes as low as a few hundred thousand all the way up to mansions that go for several millions.   You can get into a condo for just under $200,000 if you buy at the right time and find the right deal.  Some of the best condos on the beach go for over a million each, so if you are interested in purchasing real estate in that range, you will find something that you fancy.</p>
<p>All in all, if you are trying to diversify your investment portfolio with a vacation rental or a vacation home, take a look at the beautiful island of Kauai, and you will find excellent opportunities.</p>
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		<item>
		<title>Find free foreclosure listings:  Free seven-day trial!</title>
		<link>http://www.free-foreclosurelistings.com/find-free-foreclosure-listings-free-seven-day-trial/</link>
		<comments>http://www.free-foreclosurelistings.com/find-free-foreclosure-listings-free-seven-day-trial/#comments</comments>
		<pubDate>Mon, 26 Jan 2009 19:12:07 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Real Estate Investing]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/find-free-foreclosure-listings-free-seven-day-trial/</guid>
		<description><![CDATA[I have found another free foreclosure listing site for you all!  Its only free for the first seven days, so use it as much as you can to see if you like it or not.  The website is ForeclosureStore.com.  You will get access to homes in all 50 states, all counties, including addresses, phone numbers [...]]]></description>
			<content:encoded><![CDATA[<p>I have found another free foreclosure listing site for you all!  Its only free for the first seven days, so use it as much as you can to see if you like it or not.  The website is <a href="http://x.azjmp.com/2FfhC">ForeclosureStore.com</a>.  You will get access to homes in all 50 states, all counties, including addresses, phone numbers and asking prices.</p>
<p>Take advantage of this free trial offer while it still lasts.  In the meantime, I&#8217;ll keep searching the net for more free foreclosure listings.</p>
]]></content:encoded>
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		<item>
		<title>Free Home Foreclosures</title>
		<link>http://www.free-foreclosurelistings.com/free-home-foreclosures/</link>
		<comments>http://www.free-foreclosurelistings.com/free-home-foreclosures/#comments</comments>
		<pubDate>Mon, 19 Jan 2009 23:06:04 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Real Estate Investing]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/free-home-foreclosures/</guid>
		<description><![CDATA[The real estate market is so bad today that you can actually get homes for free.  Places such as Detroit have been hit so hard that you could pick up a home foreclosure for basically free.  The only catch is that it is going to cost you more money to rehab it than you could [...]]]></description>
			<content:encoded><![CDATA[<p>The real estate market is so bad today that you can actually get homes for free.  Places such as Detroit have been hit so hard that you could pick up a home foreclosure for basically free.  The only catch is that it is going to cost you more money to rehab it than you could sell it for once it is all rehabbed.  It might even cost you more to demolish the house and get rid of the rubble than it would to sell the vacant lot.</p>
<p>Banks are basically giving away free home foreclosures, because just holding onto the property increases their risk and comes with carrying costs such as property taxes and insurance.  I took a look at some bank owned listings in the Detroit area and I found several hundred home foreclosures that were being sold with the asking price of one dollar.</p>
<p>Why are areas like this hit so hard?  Well, first off, housing prices around the entire country have dropped substantially.  Second, some areas experienced huge job losses and many people moved out of the area.  Take Detroit for example.  Because of the hit the auto industry took, they cut thousands of jobs, and thus thousands of people had to move out of the area to find work.  This creates a huge increase in vacancies, so now the number of available units far exceeds the number of people who are available to rent, buy or otherwise occupy these units.</p>
<p>When an area like this gets so depressed, it seems to snowball and continue getting out of hand.  Since there are so many properties available for sale and nobody wanting to jump into the housing market, sellers are having to under-cut each other’s prices just to make their properties more attractive and possibly even be able to sell them.  As the price for houses in good condition fall dramatically, the prices for houses in poor condition fall even harder.  If you can grab a house in decent condition for 15k, why would you buy a fixer upper for any price if it is going to cost you $20k to bring it up to a livable condition?</p>
<p>Since regular housing is already so cheap, the prices for properties in disrepair are hitting lows of, well free!  The market has become so depressed that the prices are bottoming out at zero.  Does this mean it is an absolute bottom, or can prices go below free?</p>
<p>So, if someone tells you that they picked up a free home foreclosure, or a property for only a few hundred bucks, be wary.  It might end up costing them money to unload the property!</p>
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		</item>
		<item>
		<title>Free 1-week Unlimited Trial!</title>
		<link>http://www.free-foreclosurelistings.com/free-1-week-unlimited-trial/</link>
		<comments>http://www.free-foreclosurelistings.com/free-1-week-unlimited-trial/#comments</comments>
		<pubDate>Thu, 01 Jan 2009 20:05:34 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[HUD]]></category>

		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Real Estate Investing]]></category>

		<category><![CDATA[Bank Owned]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/free-1-week-unlimited-trial/</guid>
		<description><![CDATA[The Realty Store is running a limited-time one-week FREE trial offer.  If you sign up now, you have full access to all the foreclosures listed on their site without paying a penny.  You don&#8217;t have anything to lose!!!
Some trial offers require that you pay a few bucks or only give you limited access to the [...]]]></description>
			<content:encoded><![CDATA[<p>The <a href="http://x.azjmp.com/29fq5">Realty Store</a> is running a limited-time one-week <a href="http://x.azjmp.com/29fq5">FREE trial</a> offer.  If you sign up now, you have full access to all the foreclosures listed on their site without paying a penny.  You don&#8217;t have anything to lose!!!</p>
<p>Some trial offers require that you pay a few bucks or only give you limited access to the entire site.  <a href="http://x.azjmp.com/29fq5">Realty Store</a> is so confident that you will save thousands from their service that they are offering you full access to their entire database of foreclosures for a full week for free.</p>
<p>If you are even considering purchasing a new home or investing in a foreclosure, sign up for a quick free trial with <a href="http://x.azjmp.com/29fq5">Realty Store</a>, and start browsing through thousands of discount properties in your area!</p>
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		<title>Fannie Mae Foreclosure Listings</title>
		<link>http://www.free-foreclosurelistings.com/fannie-mae-foreclosure-listings/</link>
		<comments>http://www.free-foreclosurelistings.com/fannie-mae-foreclosure-listings/#comments</comments>
		<pubDate>Wed, 31 Dec 2008 03:04:06 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Bank Owned]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/fannie-mae-foreclosure-listings/</guid>
		<description><![CDATA[Many people purchase their house years ago using the Fannie Mae housing program which helped people purchase a house with little to no money down. Today these people are facing foreclosures, many of them have already moved out of their house in their house has been in foreclosure for several months. The Fannie Mae foreclosure [...]]]></description>
			<content:encoded><![CDATA[<p class="article_text">Many people purchase their house years ago using the Fannie Mae housing program which helped people purchase a house with little to no money down. Today these people are facing foreclosures, many of them have already moved out of their house in their house has been in foreclosure for several months. The Fannie Mae foreclosure listings can be found on the Internet and sometimes in the local newspaper. This is a listing of the foreclosure housing that Fannie Mae is holding and wanting to sell because no one is living in these houses and they are not making any money off of them. When purchasing a new home, several people don&#8217;t think of looking in the Fannie Mae foreclosure listings or any foreclosure listings because they are not sure of the condition of the homes or where to look or just how to go about purchasing a foreclosure home. The Fannie Mae foreclosure listings are located on the Internet where you can browse through hundreds of homes all across the nation that have been foreclosed on to do the owners non-payment. These homes are all in good shape; they have been inspected, and are ready to sell.</p>
<p>Fannie Mae foreclosure listing is one of the largest foreclosure listings available today. Thousands and thousands of people went through the Fannie Mae system to get their loans years ago and now cannot afford the payments on their homes so they have been foreclosed on. The Fannie Mae Corporation wants to sell these homes because they are sitting empty and not making them any money. That&#8217;s where you come in. You go to the Fannie Mae foreclosure listings on the Internet, put in your state and city and price range and you will soon have a list of the Fannie Mae foreclosure&#8217;s in that area to choose from. These houses cost less than what they did years ago because the Fannie Mae Corporation needs to sell them so it&#8217;s a buyers market in the foreclosures houses for sale.</p>
<p>The Fannie Mae foreclosure listing will help you determine how much you can afford to pay on a monthly basis with their interactive income and assets calculator. This will allow you to determine how much of the house you can afford in which area and for how much. You can even determine what school district you would like to live in if you have children.</p>
<p>When you&#8217;re in the market for a house, make sure the first place you go is the Fannie Mae foreclosure listing either in the newspaper or on the Internet because of foreclosure house is more reasonably priced than a regular house for sale. This is because a foreclosure house needs to be sold faster than a regular house for sale, because the houses than sitting empty with no one paying the mortgage probably for a long time and so the bank is willing to deal. And when that happens you will get a fair price, a reasonable price, on a foreclosed home in the neighborhood you want, near the school you want and it&#8217;s a win-win situation for everyone</p>
<p>More Foreclosure Information: <a href="http://www.aboutforeclosurelistings.com/">http://www.aboutforeclosurelistings.com/</a> Gary Giardina</p>
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		<item>
		<title>REO Properties for investing</title>
		<link>http://www.free-foreclosurelistings.com/reo-properties-for-investing/</link>
		<comments>http://www.free-foreclosurelistings.com/reo-properties-for-investing/#comments</comments>
		<pubDate>Wed, 24 Dec 2008 15:53:50 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Real Estate Investing]]></category>

		<category><![CDATA[Bank Owned]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/reo-properties-for-investing/</guid>
		<description><![CDATA[Where do most investors turn to when they seek preforeclosure opportunities? Sure, they take a look at free foreclosure listings or even sources of foreclosure listings that they pay for. While these sources may lead to productive and profitable deals, they also require extensive marketing and business promotion in order for an investor to tap [...]]]></description>
			<content:encoded><![CDATA[<p>Where do most investors turn to when they seek preforeclosure opportunities? Sure, they take a look at free foreclosure listings or even sources of foreclosure listings that they pay for. While these sources may lead to productive and profitable deals, they also require extensive marketing and business promotion in order for an investor to tap into these preforeclosure opportunities.</p>
<p>To Get a Free Foreclosure and short sale Course including how to buy REO Properties, Go here Reo Properties<br />
What other options do investors have? Well, in today&#8217;s market, more and more realtors are marketing properties as short sales in the MLS. While these do represent preforeclosure opportunities, I also think that this can be risky for the investor because many real estate agents are pretty new to the foreclosure world (and thus may just be learning what is a short sale) and you are taking a chance that the agent in charge of the deal actually knows what they are doing. Plus, you still have the emotional aspect of the sale, a natural by-product of <a href="http://www.realestateforeclosuresinvesting.com/foreclosures/home_foreclosures.php">foreclosures</a> that can complicate deals in some cases.<br />
A significant but often overlooked option available to investors concerns bank foreclosures. This umbrella term includes REO properties and HUD homes but it all ties in with the REO process, the phase of foreclosure that follows the auction and where a lender must then sell the foreclosures in their inventory.</p>
<p>Many investors shy away from REO properties or HUD homes because they feel they have less negotiating power or simply lack the capital to make aggressive offers and play along with the rules that REO lenders stipulate. While I favor preforeclosure and short sales myself, I also have a system in place that allows the machine to run on autopilot, a system that I can also teach you.<br />
My efforts here are to assure you that there are indeed deals to be found within the realm of REO properties. The offer process in many ways is less complicated, there is little to no emotion on the part of the seller (the REO lender), and deals can be completed much more quickly. If that appeals to you, and capital is your primary limitation, then you owe it to yourself to check out my Preforeclosure Cash Flow System and the module within it that covers how to obtain unlimited amounts of capital for your foreclosure business.<br />
In closing, the entirety of the foreclosure process is ripe with deals that are there for the picking. As rigid as REO properties or HUD homes may seem, the REO process is as much as part of foreclosures as the preforeclosure side of the business. Don&#8217;t limit your scope, learn from what I have to offer you, and I wish you the very best in success in real estate investing.<br />
To Get a Free Foreclosure and short sale Course including how to buy REO Properties, Go here <a href="http://www.realestateforeclosuresinvesting.com/foreclosures/hud_foreclosures.php">REO Properties,</a></p>
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		<item>
		<title>HUD Foreclosures as investment properties</title>
		<link>http://www.free-foreclosurelistings.com/hud-foreclosures-as-investment-properties/</link>
		<comments>http://www.free-foreclosurelistings.com/hud-foreclosures-as-investment-properties/#comments</comments>
		<pubDate>Mon, 22 Dec 2008 22:33:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Bank Owned]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/hud-foreclosures-as-investment-properties/</guid>
		<description><![CDATA[Real estate investment has provided many of history&#8217;s great accumulations of wealth over the centuries. However, not many of us have millions of dollars lying around to start playing the real estate market. How can this great opportunity be made available to those of us with ordinary incomes? Foreclosures, particularly HUD foreclosures, provide a potential [...]]]></description>
			<content:encoded><![CDATA[<p>Real estate investment has provided many of history&#8217;s great accumulations of wealth over the centuries. However, not many of us have millions of dollars lying around to start playing the real estate market. How can this great opportunity be made available to those of us with ordinary incomes? Foreclosures, particularly <a href="http://mycareercontent.com/real-estate-agencies/hud-foreclosures-an-excellent-investment-opportunity.html" target="_blank">HUD foreclosures</a>, provide a potential answer. This real estate is available at substantial discounts compared to property from other sources, and makes a good investment for the common man. An investment in hud foreclosures requires you to be familiar with HUD homes. HUD is an acronym that represents the Department of Housing and Urban Development, a United States government agency. Sometimes, when a foreclosure action is taken, the government takes possession of that property. It is now their property, with which they can do whatever they wish.</p>
<p>Once foreclosure listings are listed on special Web sites that are contracted to the government almost anybody can buy one, providing they can either afford it or qualify for a sufficient loan. The government often sells some of those properties at reduced prices. Although people buying the house to live in have priority, eventually anybody can purchase hud foreclosures. The buying process is done via foreclosure auctions.</p>
<p>Housing websites, not to be confused with HUD, are different for each state. You can find a list of houses available and details and information on every house. The details usually include the number of bedrooms and bathrooms, cost, list date, priority and bid deadline. Picture of the houses are also displayed. After going through the information on a house that interests you, you can have a look at it by a personal visit.</p>
<p>HUD houses come in all shapes and prices. When these foreclosure properties appear on the list for sale, their valuation is carried out on &#8216;as is&#8217; condition and listed at estimated market prices. However, it is common to find them costing less than other houses would be. The reason is the prices take into account the cost of needed repair as very often these houses will require at least some repair work.</p>
<p>It is a matter of personal judgment but still people will give you differing advice on weather you want to turn the property around without fixing repairs, you may do that; however, you might find that if you can repair the house fully without too much expense, you might reap better profits if you repair first. So once you have bought your property, it is best to get it inspected to check for any and all repairs.</p>
<p>Listing your foreclosure property means you may now come up with a substantial profit. The price of hud foreclosures can often be lower, meaning there are good opportunities to be found in the market.</p>
<p>Many people have made millions in real estate over the years. How can you make some of that money? Foreclosures provide a low-cost way into real estate. When foreclosures occur on government-financed property, the government takes over. Often, it wants to sell quickly. Foreclosure listings are often for sale more cheaply than other comparable properties. Government foreclosures may require some repair, but that is factored into the price listed. Ensure that any property you buy is inspected before you buy it; proper repairs can be worth much more than they cost.</p>
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		<title>Finding foreclosure homes</title>
		<link>http://www.free-foreclosurelistings.com/finding-foreclosure-homes/</link>
		<comments>http://www.free-foreclosurelistings.com/finding-foreclosure-homes/#comments</comments>
		<pubDate>Thu, 18 Dec 2008 15:49:53 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[Real Estate Investing]]></category>

		<guid isPermaLink="false">http://www.free-foreclosurelistings.com/finding-foreclosure-homes/</guid>
		<description><![CDATA[How to Find Foreclosure Homes There are a number of sources available when you are looking to find foreclosure homes. Some of them are much better than others. Finding foreclosure homes is much easier than you might think. The trick, however, is two-fold and very important. * 1. Finding foreclosure homes that are actually for [...]]]></description>
			<content:encoded><![CDATA[<p class="article_text">How to Find Foreclosure Homes There are a number of sources available when you are looking to find foreclosure homes. Some of them are much better than others. Finding foreclosure homes is much easier than you might think. The trick, however, is two-fold and very important. * 1. Finding foreclosure homes that are actually for sale. * 2. Finding the best foreclosure homes before the competition. You can find foreclosure homes in your local news paper, through a real estate agent, on the internet, with direct mail, word of mouth, and lenders just to name a few. Finding foreclosure homes for sale and finding the best foreclosure homes before the competition are the two tricks we will be discussing here. Newspapers are a great place to start to find foreclosure homes for sale. All states are required by law to post a public notice of auction in a newspaper for all foreclosure homes. You can regularly locate this list and contact these homeowners about their foreclosure homes to see if they want to sell, some owners may not. The better &#8220;flip side&#8221; of this is to place an ad in your newspaper stating that you buy foreclosure homes. A well written foreclosure homes ad will attract several calls per week from motivated owners that need to sell quickly. These owners have recently discovered that they need to get out, and you will find many of the best foreclosure homes come unsolicited through these types of &#8220;feeler&#8221; ads. Direct Mail is one another great way to find the undervalued foreclosure homes. This is because you can talk directly to the owner who is still in the pre-foreclosure stage and negotiate a nice discounted price on the home. There will be fewer investors that even know about the property, however, there is more work involved in the time it takes to find these foreclosure homes. Real Estate Agents find foreclosure homes for sale on a daily basis and are waiting for a strong motivated buyer like you who is willing and able to close the deal. Getting a professional and knowledgeable realtor on your side is a strong method that costs you absolutely nothing. Let them know that you buy foreclosure homes, give them the specific criteria about the type of foreclosure homes you are looking for; price, location, condition, etc. and send them searching. You will have results back almost immediately. In a strong market there will be a lot of competition, so make sure you are ready, willing and able to snap up a deal. Word of mouth is a technique that all the good investors use. Let it be known to everyone you come in contact with that you are a real estate investor who specializes in buying foreclosure homes. You should make some business cards as well that say &#8220;I buy foreclosure homes&#8221; and hand them out to everyone you know. You will be amazed what this will do for you. The internet is the BEST place to find foreclosure homes for sale. Several foreclosure listing companies actually search out notifications of default and sell a subscription to those who are willing to pay for this information. The most advanced foreclosure homes sites will provide three key benefits: Plenty of foreclosure homes for sale, evaluation methods to find the best foreclosure homes based on your requirements, and easy and complete methods for contacting the foreclosure homes owner or agent. Beware that some of these foreclosure homes sites are just a way to make money and provide little or outdated information on these foreclosure homes. Make sure they give you a free trial period so you can see how current the foreclosure homes listings are. There are so many excellent ways to find foreclosure homes. In fact there are many more than what are listed here. The idea is to work smart, not hard, and to let the tools that are made available work for you. You&#8217;ve always got to be ready and have your system working to find the best foreclosure homes. Start on the web and try a few methods of finding foreclosure homes until you find the best one that works for you.</p>
<p>http://www.propertyhookup.com is the most advanced foreclosure and property listing database available with all the tools you need to find the best deal on the market.</p>
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		<title>Working with a real estate agent to buy a bank owned property</title>
		<link>http://www.free-foreclosurelistings.com/working-with-a-real-estate-agent-to-buy-a-bank-owned-property/</link>
		<comments>http://www.free-foreclosurelistings.com/working-with-a-real-estate-agent-to-buy-a-bank-owned-property/#comments</comments>
		<pubDate>Sat, 06 Dec 2008 02:17:17 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Real Estate Investing]]></category>

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		<description><![CDATA[Working With a Realtor to Buy A Bank-Owned Property by Brent Wilson http://Reochronicle.com/blog     Your success in investing in bank-owned properties will depend to some extent on finding and working with a suitable Realtor.
It&#8217;s also wise to do some of your own research on local REOs (bank-owned property), whether it be via [...]]]></description>
			<content:encoded><![CDATA[<p>Working With a Realtor to Buy A Bank-Owned Property by Brent Wilson <a href="http://reochronicle.com/blog">http://Reochronicle.com/blog</a>     Your success in investing in bank-owned properties will depend to some extent on finding and working with a suitable Realtor.</p>
<p>It&#8217;s also wise to do some of your own research on local REOs (bank-owned property), whether it be via REO web sites, the local multilist (Realtor.com), or any other resources you can find.</p>
<p>Some Realtors are competent in dealing with REOs and will readily show you any listing, and some are not so competent. Some Realtors become reluctant to show very cheap houses, since the commissions are so low. It is critical that you find a Realtor who will show you EVERY house that might be suitable, no matter how cheap. Some Realtors also become reluctant to show some REOs because the lenders pay only a low commission, and they could receive a higher commission if they show a different house.</p>
<p>This sort of selective marketing by your Realtor will work against you at every step of the way. You need to be sure that the Realtor you work with understands up front that they have to show you everything that meets your guidelines, no matter how cheap. Let them know that you will be a repeat customer, so anything they don&#8217;t make on one transaction should be compensated for over time.</p>
<p>Some Realtors, even when they belong to the multilist, are reluctant to show the listings of other Realtors, since they don&#8217;t want to split their commissions. Working with this sort of Realtor is usually a waste of time, since their potential inventory is usually quite small.</p>
<p>When the REO market gets into high gear and a majority of houses sold are REOs in some areas, the conventional Realtor will either have to change or get out of the way. You should be sure to work only with a Realtor who has successfully adapted to the changed market. Many Realtors also don&#8217;t like to show properties which are very rough or in bad areas, but again, you have to see these places, since there are bargains buried among them. Sometimes the worst looking (but still well built) property is the best deal. This coming market will be so different from what the average Realtor has grown accustomed to that most conventional Realtors won&#8217;t learn how to operate successfully until several years have passed.</p>
<p>General Strategies</p>
<p>Two of the best sources of REO bargains, once foreclosures become more numerous, are new listings and price reductions.</p>
<p>Some lenders will begin at a low price to sell a property quickly, so some buried treasure can be found in the new listings.</p>
<p>Price reductions can also be a source of potential bargains. If a property has sat on the market too long, some lenders will slash the price quite a bit to move it, depending on circumstances.</p>
<p>Ask your Realtor to send you a daily or weekly list of price reductions and new listings in the areas that you are interested in, especially after the foreclosure activity picks up in your area. You need current information on these so you can be first in line for the real bargains.</p>
<p>As times goes on and the REO inventory mounts, it will become more and more of a numbers game. You won&#8217;t get all the places you make offers on, but you should get enough to make things work. Don&#8217;t get hung up on the places you miss, just keep in the game and look for the next one.</p>
<p>Be sure your Realtor has time to submit offers in a timely manner. A day or two in delay can cause you to lose a lot of good deals. Your deals will probably be smaller than their usual business (lower prices equals lower commissions) so it&#8217;s critical that your Realtor is service oriented, with an eye toward a long working relationship with you, rather than just how much money they can make on any one deal.</p>
<p>By the same token, be a good client, make solid offers, don&#8217;t waste your Realtor&#8217;s time, and do what you say you are going to do.</p>
<p>One thing that will help you above almost all else is the ability to size up a property quickly, to know if it meets your criteria. Work on this and learn how to quickly eliminate from consideration any properties that are unsuitable. When you do meet your Realtor, you&#8217;ll be able to walk through a place and know immediately whether you want to make an offer on it. This will save a lot of time on everybody&#8217;s part, and a lot more bargains will come your way.</p>
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