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i’m considering buying instead of renting, and i would like to find a government or bank owned property, are there any free websites?

The best way is via your local RE agent. Ignore the spamming ones here. I will try to get that all deleted.

5 Responses

1. Chris Says:
   June 9th, 2010 at 8:57 am

   craigslist.com is always a good source for homes
   References :

2. Landlord Says:
   June 9th, 2010 at 9:03 am

   The best way is via your local RE agent. Ignore the spamming ones here. I will try to get that all deleted.
   References :

3. realtor.sailor Says:
   June 9th, 2010 at 9:11 am

   Mortgagees (banks) don’t sell their foreclosures direct they list them with Realtors.

   realtor.sailor
   References :
   I’m a Realtor

4. jenkinsmerit Says:
   June 9th, 2010 at 9:46 am

   You can try Realtor.com for free listings but if your intent is to find THE best deal then you should try to find a GOOD Realtor in the area where you are thinking of purchasing and not focus on the TYPE of listings on the market.
   While REOs are usually a good bargain that does NOT mean that ALL good deals are REOs.
   A good Realtor will or atleast should educate you on THAT local market and what the local market for that type of property is doing. IF the overall market is still falling in that zip code then the deals may get better over the next year so buying now is ot in YOUR best interest when all factors are considered.
   The first time Buyer credit has expired but there is already talk of bringing it back this fall and maybe sooner if sales numbers and prices continue to fall. The feds will NOT raise interest rates until after 2011 due to the weak economy and trying to help the real estate market recover so there should be no rush to buy today.
   Everything in real estate is a LOCAL market so without a Realtor showing you the local market comps; you have no idea if you are buying in a falling market or if prices in your area have stabilized.
   There are ONLY 2 factors that affect local prices of real estate. Inflation; which controls interest rates of loans and the value of hard assets. THe second factor is Supply and Demand. Supply is based on the number of units in the local market and if that supply is increasing by new builds or not. Demand is driven by population and job growth. If you live in Detroit then yes you can buy a house cheap but there is no one to sell it to because jobs and people are leaving the city and they are talking about leveling large areas to reduce the Supply of houses and that would reduce the need for fire, police, schools, etc. The price of houses in Detroit will take years if not decades to recover. Other cities who have job and population growth are better investment locations and will avg a better rate of return on a real estate investment.
   Until you look at the BIG picture of what is happening and expected to happen over the long term in the city/area you live you can not predict the value of a house. Buying because prices are falling OR rising is WHY we are in this cycle now. Buying based on population/job growth trends AND the current market trends/ interst rates AND tax advantages AND finding a REO property at less then fair market value IS what you should be trying to find and not just an REO List for free.
   References :
   Realtor AND Real Estate Investor.

5. Lex Says:
   June 9th, 2010 at 10:09 am

   visit http://www.realtor.com and look for properties that are bank owned REO’s. Keep in mind that you must be a cash buyer to purchase bank owned properties
   References :

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