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.

The surge in mortgage defaults and consequent spike in foreclosures nationwide has forced major lending institutions to rethink the way in which they handle marketing and liquidating their inventories, according to a recent article in Daily Business Review (log-in required).

“Lenders have been more proactive,” said Anthony Segrich, Foreclosure.com REO manager, in the article. “The truth is out there, and the stigma is less than it used to be so now they are working toward solving the problem.”

Historically, lending institutions have been reluctant to promote their real estate portfolios. That’s because touting Real Estate Owned (REO) homes — an industry term coined to refer to foreclosures — is, in a sense, admitting that they issued bad loans. Not to mention banks are in the business of lending money … not marketing and selling real estate.

That’s the reason Web sites like Foreclosure.com are so valuable. We have direct relationships with with many of the top lending institutions, as well as best data sources, in the nation. And now that several banks appear to be more willing to share more of their foreclosure listings it can only mean one thing:

Better real estate deals.

Indeed, there is a huge supply of foreclosures currently on the market and not an equal amount of interested buyers. What does that all mean for you? In short, cheaper prices and more choices.

But you need to act fast because the amazing deals that are out there — up to 50 percent or more off true market value — are moving fast. Look no further than the recent report we passed along last week, which indicates that foreclosures sales are skyrocketing while traditional sales are lagging.

In short, foreclosures are hot and getting hotter. And Foreclosure.com is working with lenders and banks every day to pass along all these great saving opportunities to you. Check out what’s available in your area today right here. It’s FREE to search your neighborhood (With FREE 7-Day Trial).

Find that the bank-owned home of your dreams at a fraction of the cost on Foreclosure.com!

The New Year is a time for new beginnings, which is the reason we went back to the basics in our first edition of “Investment Exchange” — our free educational real estate newsletter — in 2009.

We touched on the “Big Three” foreclosure investment options, as well as the steps you need to make to begin making (or simply saving) money investing in real estate … and so much more.

Of course, it’s impossible to cash-in on these opportunities if you don’t get your feet wet, which is where most so-called “dreamers” fall short. Indeed, taking the first step is the most important, as well as the most difficult.

But we’re determined to start you off on the right foot.

It’s common to double or even triple your money in 90 days or less in real estate in today’s current market. You’d be hard-pressed to find a fund on Wall Street that guarantees that type of return on investment in such a short amount of time.

In fact, it’s more than likely impossible.

So why don’t more people take advantage of the seemingly endless opportunities around them and cash-in? It’s simple: Potential flippers and investors don’t know how or where to begin.

Until now!

The January 2009 edition of “Investment Exchange” has all the answers you need to get going … sooner rather than later. To check it out right now click here … it just came out today!

Let us show you how to capitalize on the amazing deals out there — it’s now or never!

While traditional real estate transactions continue to plunge virtually across the board, foreclosure sales are actually surging throughout the United States, according to the latest housing report from the National Association of Realtors (NAR).

In fact, NAR — America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries — estimates (via the Atlantic Journal Constitution) that foreclosures and other distressed properties now account for a whopping 45 percent of existing home sales.

That’s significant and quite remarkable, considering that home sales throughout the nation dipped to the lowest level on record in November 2008, falling 4 percent to 82.3 from from 85.7 in October.

The simple fact is that “mounting job losses and very weak consumer confidence” have taken such a serious toll on prospective buyers. Additionally, with more and more existing homeowners finding themselves in foreclosure situations, smart buyers realize that lenders are more willing to part with bank-owned real estate faster and for far less money.

Especially today, which is considered a buyer’s market where great options are plentiful.

So what are you waiting for? Foreclosures in your area are being gobbled up at rock-bottom prices as we speak. Don’t miss out … search foreclosures in your town or city today for FREE with a Foreclosure.com 7-day trial subscription. No strings attached. Cancel at anytime.

To start finding foreclosure steals now click here before it’s too late!