• Wall Street Journal: Home Buyer Credit Gets New Life http://ffs.cc/a/piooy6 TM #
• Deal of the Day, Elm Street edition: 6 bed/4 br 4,200 sq. ft. “Deal” in Sleepy Hollow, N.Y. http://ffs.cc/a/vhoh4i TM #
• Met some amazing brokers at the Sotheby’s International Realty Manager conference in Jersey City. LY #
• Deal of the Day, World Series edition: 4 bed/3 br 2,350 sq. ft. Philly fixer upper. Pot. equity = $12,100 http://ffs.cc/a/6u6r5k TM #
• Free email newsletter: Hot real estate markets in the U.S. in 2009 and beyond — http://bit.ly/3NQYPl TM #
• Deal of the Day, Last Frontier edition: 5 bed/5 br 5,380 sq. ft. Alaskan refuge. Pot. equity = $359,925 (97% under!) http://bit.ly/xkfa8 #

• I just registered for REbarcamp San Diego on November 12. Looking forward to it! http://ffs.cc/a/e9qvjk #rebarcampsd SC #
• Automation is the key as long as we can remember to not forget we are dealing with humans. LY #
• Real estate pros: Attend virtual REbarcamp on Nov. 17 9am-4pm. http://rebarcamp.com/virtual/ #VREBC SC #

• Coldwell Banker Global Management Summit was a great experience. LY #
• BLASTO! Bookmark our custom URL shortener. All the cool real estaters are doing it. It’s Twitterlicious: http://blasto.ffs.cc/ TM #
• America’s Strange Homes For Sale http://bit.ly/48BBHR SC #
• Uh oh! House From ‘Rain Man’ Movie Facing Foreclosure http://bit.ly/bg0bJ TM #
• Success: If A is success in life, then A equals x plus y plus z. Work is x; y is play; and z is keeping your mouth shut. – A. Einstein SC #
• Headed to the Global Management Summit for Coldwell Banker LY #

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.

Late 2010, according to the Mortgage Bankers Association (MBA), which serves as the national association that represents the real estate finance industry.

Jay Brinkmann, MBA’s the chief economist, recently shared the prediction during the group’s annual conference in San Diego, California.

Here’s a snip via Bloomberg.com:

“Foreclosure rates will continue to climb through late next year, peaking only after the U.S. unemployment rate reaches 10.2 percent in the second quarter…. ‘This recession is like a hurricane: You’ve survived the storm and you have a big mess afterwards,’ [said Brinkmann]. The effects of the recession, which he said probably ended in July, will linger for ’some time’ in the form of higher unemployment, fewer mortgage originations and lower business development, he said.”

The good news is that there appears to be light at the end of the tunnel.

In addition, it serves as yet another reminder that the “for sale” foreclosure inventory will soon begin to wane as fewer homeowners fall into distress and more buyers flood the market to capitalize on great deals.

Remember, foreclosures are often the first stop for smart house hunters and investors because of their value — you can typically get way more house and pay much less for it the closing table.

Start your search on Foreclosure.com today right here. It’s FREE for seven days. We also provide FREE email alerts, which keep you constantly on top of the best deals that pop up in your area … and you don’t even have to lift a finger. Click here.

• Deal of the Day, Ore. edition: 4 bed/3.5 br 3,342 sq. ft. mountain manor. Pot. equity = $552,110 (69% under value!) http://bit.ly/3E8PIC TM #
• Still looking for foreclosures? Find half-priced homes in your area today – http://eepurl.com/d4vF #
• Full-sized Lego house gets deconstructed because of no buyers: http://bit.ly/w1rPg TM #
• Looking for exam fulfillment technology…Agent University is rockin LY #
• Deal of the Day, Tar Heel edition: 6 bed/5.5 br 6,000 sq. ft. NC manor. Pot. equity = $495,160 (77% under value!) http://bit.ly/U6Dj1 TM #
• Linda Martignetti with C21 to host free consumer seminar on Oct. 13 RE: distressed homeowners finding REAL solutions http://bit.ly/1NxKoa LY #
• Wall Street Journal: Distressed-property listings can be obtained from Web sites such as Foreclosure.com. http://bit.ly/16kSEN TM #
• Love it when you can get the State of Florida on the phone and receive answers LY #
• Linda Martignetti with C21 hosting a free consumer seminar on Oct 13 about the homeowners finding REAL solutions http://bit.ly/BkcA1LY #

• Brad Geisen to Bloomberg News: Banks may be more willing to accept foreclosure alternatives — http://bit.ly/4zau3T TM #
• Great article on “Tweets” for Real Estate professionalshttp://bit.ly/XSVaJ LY #
• Great collaborative meeting with Lynn University LY #
• Deal of the Day, desert edition: 3 bed/4 br 3,029 sq. ft. Arizona oasis. Pot. equity = $551,780 (122% under value!) http://bit.ly/gn3j2 TM #
• Cool social media pillows for your home http://bit.ly/NeDhq SC #

• Post show steal – 2 for 1 Certified Short Sale/Foreclosure Agent Training http://eepurl.com/dOTr #realestate #fivestar AS #
• http://bit.ly/BGYIU – MailChimp does it again! Great new Twitter template (Great agent tool) – AS #
• Certified Short Sale Agent is available now for all who are specializing in short sales check it out http://bit.ly/zo8U1 LY #
• Catch up days are always fun! LY #
• GlobalEdge: New site (QuickSale.com) to source bank-owned property deals http://bit.ly/Y3gKD TM #
• HousingWire Headline: New Web Site (QuickSale.com) Facilitates Short Sales: http://bit.ly/4fVbsQ TM #
• First Things First: Foreclosure 101. Brad Geisen drops knowledge at Five Star in Dallas: http://bit.ly/16VGKf and http://bit.ly/NCDvk TM #
• At the #fivestar show in Ft. Worth, Tx. Agents, check out our short sale solution workshop at the show: http://bit.ly/qo0DL SC #
• Deal of the Day, Texas edition Part II: 4 bed/3.5 br 3,643 Dallas castle. Pot. equity = $158,626 (40% under value!) http://bit.ly/DweWH TM #
• Foreclosure.com introduces best short sale system for sellers, buyers, lenders and real estate agents – http://eepurl.com/dIpV #
• First-of-its-kind automated short sales solution will help nationwide real estate market recover faster: http://bit.ly/3fFZJl TM #

The National Association of Realtors (NAR), according to its president, Charles McMillan, is pushing hard for one more year:

“Now is the time for Congress to keep this recovery going by extending the tax credit through 2010 and making it available to more homebuyers. We have all seen how the credit has been a spur to bring homebuyers into the market, and have seen the beginnings of a real recovery in the housing market. Housing has always led this nation out of economic downturns, and can do so again…. The credit needs to be available for an additional period of time in order to sustain the progress that’s been made so we can continue to see our markets fully recover. Uncertainty about the future of the credit will dampen consumer demand. The only way we can assure that the progress we’ve made can continue is to extend the credit and to do that now.”

McMillan echoes an important point that we brought to your attention earlier this month: Even though more than two months remain until the $8,000 first-time homebuyers tax credit expires (Dec. 1, 2009), it is very little time in the real estate world.

That’s because finding, financing and then closing on a home can take as much as 90 days. And if it’s a short sale then the process will likely take longer … much longer.

So will the 8,000 tax credit for home buyers be extended?

It’s hard to predict at this point, but efforts are currently underway to try and persuade decision makers on Capitol Hill that it needs to happen. In fact, NAR constituents “will be writing to their Senators and Representatives to tell them of the successes with the tax credit thus far and to press them to extend and expand it now.”

We’ll, naturally, pass along any and all updates regarding a possible extension of the program. In the meantime, your best bet is to get cracking looking for the best deals in your area right now just in case an extension never materializes. It’s potentially $8,000 that the government wants to put back in your pocket — that doesn’t happen very often.

Take advantage of this rare opportunity. And remember that Foreclosure.com is also offering blog readers a special subscription discount (after the 7-day FREE trial) for the next few months to help you find the homes of your dreams for the lowest possible price. To learn more click here.