Practice what you preach.

That’s the motto here at Foreclosure.com because it is impossible to run the most successful distressed real estate Web site on the Internet without everyone at every level having a firm understanding of the foreclosure process from the bottom up.

So it’s Thursday morning and instead of braving the commute south to our corporate headquarters in Boca Raton, Fla., I am headed east for the weekly “class trip” to the Palm Beach County Court House in West Palm Beach to provide Foreclosure.com staff members with a refresher course on the auction process.

It’s company policy that we offer this type of activity annually to introduce some of our new employees to the actual experience, as well as keep the topic fresh on the minds of our more experienced team members. From customer service to human resources to programming, all personnel types from every department at Foreclosure.com are invited to participate in the weekly excursions.

Let’s quickly take you through a typical day for us at the court house.

Read the rest of this entry »

… and the best source for foreclosures and other distressed real estate data available anywhere, according to HitWise.com:

So search with confidence for the lowest home prices in your area … everyone else does! CLICK HERE.

Foreclosure-related sales are still going strong, according to the most recent housing report from the National Association of Realtors(R), accounting for nearly half of all real estate transactions in January 2009.

In fact, the increase in these types of sales caused the national median home price to dip 14.8 percent when compared to data from just one year ago, going from $199,800 in January 2008 to $170,300 last month. The national median home price is essentially the middle of the market — half of the homes sold for more and half sold for less than $170,300.

Here is a snip from NAR chief economist, Lawrence Yun, on the distressed real estate renaissance:

“It appears that in many instances a buyer can get a really good deal on a distressed sale … Home buyers are evidently competing for homes with deep discounts.”

Indeed, home prices on distressed real estate such as foreclosures are remarkable right now, coming in at up to 50 percent or more off normal market value. And we’re not talking about a few properties here and there — there are great deals sprouting up everywhere.

It’s now become the rule rather than the rare exception.

The interest in cheap foreclosure homes is also more than likely the reason Foreclosure.com has been experiencing record-setting traffic figures in the last few months. Our server has been getting crushed around the clock with curious bargain shoppers located throughout the United States.

That’s good news for us and them, as well as our nationwide network of real estate agents and brokers. We have assembled a dynamic team of industry professionals who are easy to contact and are always standing by to help our buyers make the best purchase decisions possible.

Check Foreclosure.com for possible steals available today in your area right here. To locate a foreclosure specialist in your area to assist with your search click here. Hurry up before it’s too late!

Here’s something we don’t see too often … nor will we likely ever see anything like it again.

Curtis Sleeper and his family have been building a one-of-kind 15,000 square foot home inside a cave in Festus, Mo., since 2003. However, he has recently listed his labor of love, which is situated on a scenic three-acre lot, on eBay.com for a thrifty starting bid of $300,000 because he no longer has the financial means to hold on to it.

Here is his reason for selling:

“We never considered an economic bomb to hit the country at the same time as our balloon note.”

That “balloon note” expires on May 1, 2009, which means that Sleeper and Co. now have 90 days or less to find a solution. Here are the options as he describes them:

1. Pay the previous land owners for the balance owed for the property, partially finance the purchase or investment in our property.
2. Sell our property and new house for as much as we can then pay off the balance owed for the property. Start a new adventure.
3. Hand over the property to the previous owners and lose 100 percent of our equity in the property and our total life savings.

The former sand mine is about as deep as a football field (100 yards) that has been split into three “chambers.” The front chamber is the living area with three bedrooms; the middle chamber is for storage and laundry facilities, as well as features a spare bathroom; and the third chamber is an open area with a stage where “Ted Nugent, Bob Seger, Ike and Tina Turner, the MC5 and many other bands performed.”

That’s because the “Cave House” used to be called “Cave Land” back in the day. It was once used as a concert venue, as well as a skate park.

Now it’s a house … for sale.

It’s a very interesting story that has captured major media attention recently for obvious reasons. To check out a video segment on ABCNews.com on the “Cave House” click here.

For more details on the amenities and all the blood, sweat and tears that went into building “Cave House” be sure to check out Sleeper’s very detailed Web site right here. And to check out the eBay listing go here.

Sleeper mentioned that he is close to securing the necessary $83,000 in financing needed to remain in the “Cave House” and is hopeful that his domestic spelunking “adventure” will continue.

We’ll pass along status updates on this situation as it unfolds.

Home values in the 20 largest metropolitan areas located throughout the United States continued to decline, falling to their lowest levels since January 2004, according to the the most recent Standard & Poor’s Case-Shiller Home Price Index.

Fourteen of the areas recorded double-digit declines and none of them posted increases for the time between October and November 2008.

This is, of course, more unsettling news for existing homeowners who need to hang in there until the market rebounds. On the flip side, it’s more good news for buyers and investors — home prices are so low right now compared to just 24 months ago it’s incredible.

These deals of a lifetime, however, are beginning to be gobbled up. We’ve been telling you seemingly forever that foreclosure sales are on the rise across the board. And once again a report today in the New York Times supports that reality.

Here’s the snip:

“… tumbling values because of foreclosure sales and forced sales have also prompted a mini-boom in some parts of the country, where rock-bottom prices have lured buyers back into the market. The National Association of Realtors reported Monday that existing-home sales rose 6.5 percent in December, the largest monthly bounce in years.”

The bottom line is there are buyers out there who are pouncing on the amazing foreclosure deals currently available, striking while the investment iron is red-hot.

And who can blame them? Now is the time to buy and invest in real estate because the long-term profit potential is mind boggling. We’re seeing deals featured on Foreclosure.com that are simply unreal.

For example, check out this gorgeous property in Marietta, Ga., which is now available for more than 60 percent less than its true value. It’s a possible savings of $305,900 or more for a home in a desirable suburban community just north of Atlanta.

That’s just the tip of the iceberg.

Check out all the amazing foreclosures deals in your area today before it’s too late. CLICK HERE.