Without our prior knowledge, a team of three real estate professionals who represent Inman News — the leading source of independent real estate news, information, advice, research, opinion and commentary for industry professionals and consumers alike — today issued a detailed review of the Foreclosure.com experience.

The investigation focused on three major areas: Ease, value and power. We’re thrilled to pass along news that Foreclosure.com excelled in these areas, scoring an 86 or better in all three categories.

Here is the top-level summary of the findings:

“On a rating scale of zero to 100, the site scored 86 or higher in all of the three rating categories … with the highest rating (90) for ease of use — based on an average of the three reviewers’ ratings.”

There are numerous positive remarks contained in report that we can hang our hat on; however, there is one from review team member Janet Gorman Krauss, associate broker at Keller Williams Real Estate in Philadelphia, Pa., that really stands out.

Here is her take on our “ease:”

“As an agent (who) has used another foreclosure site for the past several years, I did have a baseline to compare with in my evaluation of Foreclosure.com. The site was easy to use and well organized. The content was exactly what it should have been, detailed and concise. I was surprised to find the telephone numbers of the attorneys, trustees and Realtors listed with the properties, which is a very nice feature.”

What’s so special about this quote? It’s pretty simple: Foreclosure.com prides itself on providing the most accurate and detailed distressed real estate listings available anywhere.

We have an entire research and technology department that is charged with combing through each of our nearly two million nationwide listings, ensuring that they are accurate and contain the most up-to-date contact information as possible.

So when industry professionals put us to the test, and we pass with flying colors, it’s confirmation once again that all of our hardwork and dedication is making a big difference.

Of course, there were other highlights from the review, including praise for our Community Expert Program and Affiliate Program, among others. Check out the entire survey right here (subscription may be required).

And to search the best (and most accurate) foreclosure site on the Web right now click here.

Home values in the 20 largest metropolitan areas located throughout the United States fell at the fastest annual rate ever (19.1 percent) in the first quarter of 2009, according to the latest Standard & Poor’s Case-Shiller Home Price Index.

All told, home prices have dipped 32.2 percent since the peak of the market in the second quarter of 2006.

The good news for homeowners is that the report indicates that month-to-month declines have continued to slow down; however, there is still no sign that the market has hit rock bottom. In fact, Phoenix, Ariz., Las Vegas, Nevada, and San Francisco, Calif., “all recorded declines of more than 30 percent.”

On the flip side, Charlotte, N.C., and Denver, Colo., each “edged up” 1 percent from Feb. to March 2009.

So what’s it all mean for you?

Well, first-time buyers and investors alike are able to take advantage of the best home prices to come around in years. And it appears that they are doing just that with foreclosure-related purchases accounting for nearly half of all recent real estate transactions.

Searching for homes on Foreclosure.com these days is like choosing from discounts on already discounted prices … it’s unbelievable. But as we’ve been telling you all along … this situation, which also includes a $8,000 government-sponsored tax credit until Dec. 1, 2009, will not last forever.

Check out all the hottest foreclosure deals in your area today before it’s too late. Click here.

That’s the latest good news from the Chicago Tribune, which recently published an article about the housing market in the “Windy City” area and how first time home buyers there are keeping it afloat with foreclosure purchases.

Here’s a snip:

“Value-conscious, first-time buyers have become key to the housing market’s recovery, and they are snapping up priced-right foreclosures despite the warts-and-all, sold-as-is condition of the properties. The glut of foreclosures has pushed down home values, so heightened interest in buying them benefits the immediate neighborhood and the overall housing market.”

Chicago — among the top five most populated cities in the United States and the largest of its kind in the Midwest — has a rich history and offers a lot to its residents and visitors alike. Accordingly, Chicago has long been a desirable (albeit sometimes expensive) place to live and establish a successful career.

So when real estate prices dip it should come as no surprise that buyers are eager to pounce on deals that perhaps only come around once in a lifetime. In fact, the article indicates that the values are so good that “attractive pricing is causing a noticeable increase in multiple offers.”

We took a quick spin through the Foreclosure.com database of possible deals in Cook County, Illinois, which is where all the best home deals in Chicago are located. And, unsurprisingly, we found several ridiculously discounted properties — check out this one right here, which is listed for just $118,750 and has a potential equity spread of $435,121!

To search our database for more great Chicago foreclosure homes and others located throughout the nation click here.

Palm Beach County, Fla., has been hit hard with a wave of foreclosures, registering nearly 2,500 active foreclosures on its books in April 2009, according to our most recent statistics.

It’s naturally had a significant negative impact on several neighborhoods, which are already struggling to maintain the highest possible property values because of the massive collective dip in home prices that has gripped the entire South Florida region.

As if the growing foreclosure situation and declining home values weren’t enough to handle, vandals and squatters who are often drawn to vacant homes are exacerbating the situation. Indeed, broken windows and the like have forced the county commissioners to take matters into their own hands.

Here’s a snip from Barbara Alterman, head of the county’s planning, zoning and building department, according to a Palm Beach Post article:

“There is a lot of vandalism going on. It is maintaining the neighborhood by allowing them to board up when there is vandalism. It is helping the neighborhood by keeping vandals out.”

Boarded up and shuttered homes are certainly not going to help banks move their inventories any quicker — it’s not the most eye-catching/appealing marketing tactic. These properties also won’t help raise the values of the inhabited homes on the block.

However, it will help preserve the homes until new owners move in, and perhaps more important for you, it could help you get into a very nice home at a price that you can afford. In short, it’s not an ideal solution, but one that you could use to your advantage if you are in the market for a real steal.

To check out the latest foreclosure and other distressed real estate listings in the Palm Beach County, Fla., area visit Foreclosure.com today right here.