Tomorrow (Friday, Nov. 6), to be precise.

The House of Representatives today overwhelmingly (403-12) passed the initiative, which also extends the $8,000 tax credit for first-time homebuyers until April 30, 2010.

President Barack Obama is expected to officially sign off on the legislation before the upcoming weekend.

So what’s it all mean?

Essentially, if you have been living in your current home for at least five consecutive years (and you own it, of course), the federal government will reward you with up to $6,500 to purchase a new home. However, you must close on the new house no later than June 30, 2010, to receive the bonus.

It’s a great incentive for empty nesters, downsizers, upgraders and basically anyone else who wants to relocate or enjoy a change of scenery … and get rewarded for it.

Get a head start and begin your new home search today at Foreclosure.com. We have the best real estate deals in your area featured in our comprehensive database of more than 2 million nationwide listings.

Happy hunting … and congratulations in advance!

Learn how to create an absolute fortune investing in commercial real estate using two little known strategies with advice from industry expert, Jason Gilbert.

From strip malls to mobile home parks to apartment complexes, there is a ton of money to be made with commercial real estate. Successful investors will tell you that commercial deals are often easier to do than residential and make you far more money.

Much more.

Jason will reveal how you — regardless of your credit situation and how much experience you have can (even if it’s zero) — can make a fortune with commercial income property in this FREE training course, “Make Millions with Commercial Real Estate.”

He recently released two proven strategies, Joint Venture Facilitation (JVF) and Master Lease Option (MLO), which can get you started on the path to personal riches … regardless of your current situation.

This FREE educational session is available to watch LIVE online and for FREE on Wednesday, Nov. 18, at 7 p.m. ET. CLICK HERE.

This course will cover:

• Why getting into commercial is a “no brainer”
• What keeps most people out of the commercial side
• Who is Jason Gilbert
• JVF and MLO explained
• Why you should get involved and how you can start today

Real estate investment secrets will be revealed during this special learning opportunity. Whether you are just starting out or trying to get to the next level, this is one FREE presentation that you simply cannot miss.

We look forward to having you on the Webinar!

To attend “Make Millions with Commercial Real Estate” on Wednesday, Nov. 18, at 7 p.m. ET for no cost CLICK HERE. Spots are limited and are available on a first-come, first-served basis only.

Webinars are LIVE educational sessions that let participants see, hear and interact with real estate experts right from their personal computer screens. In fact, Webinars are driven in part by visitor feedback and questions that are posed during the sessions. For more information and course offerings click here.

HGTV’s FrontDoor.com compiled two season-appropriate, and very different, lists:

Tricks

1. Every foreclosure is a bargain — Just because a house has a cheap price tag, doesn’t mean that it will be a good investment.
2. Buying a foreclosure property is like buying any other property — Foreclosure deals usually involve multiple parties and specific laws. Seek out a foreclosure expert.
3. Going into foreclosure is better than paying a mortgage you can’t afford — Foreclosure has major legal, tax and credit consequences and should be a last resort.

Treats

1. Homeownership is affordable — There really are well maintained foreclosure properties out there, some for as little as 50 percent below their market value.
2. Banks are motivated to get rid of their inventory — Banks want to get non-income-producing properties off their books as quickly as possible, which translates to competitive pricing for consumers.
3. The right foreclosure can be a good investment — Whether a foreclosure purchase is destined for renting or flipping, the right property can be profitable.

Remember you can find your treat on Foreclosure.com. Our nationwide database of more than 2 million distressed real estate listings is FREE to search for seven days. Cancel at anytime.

No tricks!

To check out the complete article head over to FrontDoor.com.

Remember that you can check out when the REDC foreclosure auction train will pull into your town right here (Click the link to see complete nationwide schedule). To search for other foreclosed homes in Tennessee and elsewhere throughout the nation click here.

It’s that time again.

REDC, one of the nation’s most reputable and successful real estate auction companies, will conduct public foreclosure sales from this Saturday (Oct. 10) through Thursday (Oct. 29) in several states, including Alabama, Georgia, Mississippi, North Carolina, South Carolina and Tennessee.

It’s six more consecutive days of super sales on condominiums and townhomes, as well as single- and multi-family properties. All told, 467 properties combined must be sold in less than one week.

Bids can start as low as $500 because everything must go!

If you’re looking to take advantage of the best real estate deals in these areas then definitely check out REDCs foreclosure lender auctions.

Here are the locations (For complete details click here):

• October 24 – Cobb Galleria Centre in Atlanta, Georgia
• October 25 – Raleigh Convention Center in Raleigh, North Carolina
• October 25 – The Westin Charlotte in Charlotte, North Carolina
• October 25 – Wilmington, North Carolina
• October 26 – Knoxville Convention Center in Knoxville, Tennessee
• October 26 – Savannah International Trade and Convention Center in Savannah, Georgia
• October 27 – Mobile Civic Center in Mobile, Alabama
• October 27 – Nashville Municipal Auditorium in Nashville, Tennessee
• October 28 – Memphis Marriott in Memphis, Tennessee
• October 28 – Sheraton Birmingham Hotel in Birmingham, Alabama

Remember that you can bid in-person or online.

The process is safe, easy, and compliant with all legal regulations. And you don’t have to be an experienced real estate expert to purchase a property.

To check out the homes for sale at the upcoming foreclosure auctions in Alabama, Georgia, Mississippi, North Carolina, South Carolina and Tennessee, as well as to see when REDC will be coming to a city near you, click here.

Good luck!

We hope that you take advantage of these rock-bottom prices and easy financing at today’s low interest rates while they last!

RealtyBid.com, which has sold more than 3,000 foreclosed properties to investors throughout the nation in recent years, experienced a 211 percent increase in real estate sales last month (Sept.) when compared to the month prior (Aug.), according to a recent article in the Birmingham Business Journal.

Company CEO, Tony Isbell, attributes the surge to government moratoriums on foreclosures being lifted.

Here’s a snip:

“We expected to see bidders take advantage of the unbelievable (bank-owned) bargains we had to offer in September and they did. Year-to-date, September is by far our biggest sales month of the year and it’s our second biggest sales month ever.”

Remember that RealtyBid.com is a trusted Foreclosure.com partner — we even have a dedicated page that lists home auctions and properties located throughout the the nation.

To check and see if there are any amazing deals (currently 427 properties) in your area right now click here. Be sure to check back often because we add new listings frequently.

The national lenders that own these properties are super motivated to sell them all as quickly as possible. So if you have ever wanted to make money investing in real estate, this is a tremendous opportunity.

This is your opportunity to purchase real estate properties at greatly reduced prices. The terms of purchase are 5 percent down and a 30-day closing process.

Don’t miss out! Check out the upcoming auctions in your area right here.

That’s how Kendi Kiogora, a 28-year-old first-time home buyer, described her recent experience at a Chicago-area auction, anyway.

And when you hear about the deal (or steal) she made off with it’s hard to argue otherwise.

Kendi purchased a “one-bedroom, one-bath apartment in Chicago’s trendy South Loop neighborhood, with skyline views and heated parking, for just $105,000,” according to Reuters.com feature today. The final sale price was $62,000 less than its last listing and well below true market value.

Her good fortune is just more proof that it’s a buyers market. Plain and simple. Opportunities to buy homes at deep discounts have never been better than they are right now.

And according to Dave Webb of Hudson & Marshall, one of the biggest players in the real estate auction business, more amazing deals could flood the market in the very near future.

Here’s a snip:

“The foreclosures are going to explode again.”

Why?

Mr. Webb points to moratoriums that have or are about to expire on foreclosures, which were put in place months ago by major lending institutions and banks to minimize defaults and stabilize the market.

However, this well-intentioned move may have just delayed the inevitable and, as the report suggests, an “avalanche of new repossessions” could be on the horizon.

So keep your eyes peeled in the coming days and months for your winning real estate ticket on Foreclosure.com. Or just use our FREE foreclosure email alerts and we’ll keep our eyes peeled for you.

To check out upcoming real estate auctions from Hudson & Marshall in your area click here.

Five states, six days.

This weekend signals the start of huge opportunities for house hunters and investors in the Illinois, Indiana, Kentucky, Missouri and Ohio markets looking to take advantage of the best real estate deals in their areas.

REDC, one of the nation’s most reputable and successful real estate auction companies, will conduct public foreclosure sales from Saturday (Oct. 10) through Thursday (Oct. 15).

That’s right: Six consecutive days of super sales on condominiums and townhomes, as well as single- and multi-family properties.

All told, 342 properties combined must be sold in less than one week. It’s the reason bids can start as low as $500 — everything must go!

Here are the locations (For complete details click here):

• Oct. 10 — Hyatt Regency O’Hare
• Oct. 11 — Indianapolis Marriott Downtown
• Oct. 12 — The Seelbach Hilton Louisville
• Oct. 13 — Renaissance St. Louis Grand & Suites
• Oct. 14 — DoubleTree Hotel Springfield
• Oct. 15 — Kansas City, Missouri Convention & Entertainment Facilities

Remember that you can bid in-person or online.

The process is safe, easy, and compliant with all legal regulations. And you don’t have to be an experienced real estate expert to purchase a property.

To check out the homes for sale at the upcoming foreclosure auctions in Illinois, Indiana, Kentucky, Missouri and Ohio, as well as to see when REDC will be coming to a city near you, click here.

Good luck!

We hope that you take advantage of these rock-bottom prices and easy financing at today’s low interest rates while they last!

WMBF News today put together a nice punch list of things that homeowners today “need to know” before buying a foreclosure … or any other type of home for that matter.

Check it out:

1. Double-check your credit — Check your credit report immediately to be sure it does not show any incorrect information.
2. Talk to lenders — Check rates and offers from several mortgage professionals to find one you with whom you want to work.
3. Home prices are still low — Now is an excellent time for a home investment.
4. Interest rates are still good — Mortgage interest rates have dropped again to about 5 percent annually.
5. You must have savings — A down payment is essential today.
6. Know all costs of ownership — A rule of thumb is to budget 1 percent of the home’s purchase price per year for upkeep.
7. Buyer beware — Invest in a home inspection before agreeing to purchase any home.

Foreclosure.com currently features more than 2 million distressed real estate listings in its nationwide database, including preforeclosures, foreclosures, Sheriff sales, bankruptcies, tax liens, auctions and much more. In short, we have a house for everyone … at the most affordable price.

So use the tips above, search our Web site for the best deals in your area and live your own American dream while the conditions are in your favor. Opportunities like this don’t come around very often.

To search for homes and other cheap real estate deals — often up to 50 percent off — right now click here.

… because home sales nationwide are better than they were before the incentive was introduced earlier this year, according to Lawrence Yun, National Association of Realtors® (NAR) chief economist:

“Home sales retrenched from a very strong improvement in July but continue to be much higher than before the stimulus. The first-time buyer tax credit is having the intended impact of bringing buyers into the market, allowing them to take advantage of very favorable affordability conditions…. Now that the market is showing some momentum, we have an opportunity to achieve a more rapid and broader stabilization in home prices. Extending and expanding the tax credit also would help to keep other families from becoming upside down in their mortgages or risk foreclosure.”

NAR continues to push hard to extend the $8,000 tax credit for new homebuyers, which is currently set to expire on Nov. 30, 2009. Regardless of what happens, the trade association reinforces once again what we have been shouting from the rooftops:

START SEARCH RIGHT NOW BEFORE IT’S TOO LATE!

We’re down to the wire — two months in the real estate business can go very fast.