This is a search engine that will find homes that are bank owned (REO) or in a pre-foreclosure / short sale situation. And it is free. There are no weekly or monthly charges. Start by zooming into the map where you are interested in owning. Once you zoom in close enough, you will see little pictures that represent a short sale or REO home for sale. Click on any one of these to see pictures, property details, and more. Click on the “Results” tab if you want to display a list of the properties that are shown on the map. Now you can click on the “Sort by” choices to report newest on the market, or longest on the market. Find the homes with the largest percentage price drop, or the lowest current list price. You can even sort by price drop! Then look at the price history in the property details. Once you have a search working the way you want, save all your hard work. Subscribe by email to your search. Any time there is a new property that meets your search criteria, or a price change on a property already reported to you, an email will be sent to alert you. You get all the updates and stay on top of the market. Just click on the “Get Email Updates” link on the bottom left of the search window.
To get a really good idea of what this search engine can find for you watch this tutorial. These are deals and we aren’t even limiting to the bank owned short sale homes. We found a house that was $699,000 and the price has now dropped to $399,000.
With short sales, it may not be the best strategy to wait for a price drop. Buying bank owned properties also has it’s difficulties. Contact us to find out what the best strategies are, and how to get the best deals on a short sale or bank owned property.