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):

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Embattled New York Knicks Center Eddy Curry is facing foreclosure on his $3.7 million Chicago-area home, according to the Chicago Sun Times.

The report indicates that Bayview Loan Servicing recently filed notice in Cook County Circuit Court against Curry and his wife, Patrice, revealing that the couple is about eight months (more than $217,000) behind on their mortgage payments.

Curry — who was selected fourth overall by the Chicago Bulls straight out of Thornwood High School in South Holland, Ill., in the 2001 NBA draft — has earned an estimated $34 million since 2005.

However, financial mismanagement could be to blame — Curry is suing his former business manager for a “thorough accounting” of the 26-year-old’s finances during the last three years.

It could also be the reason Curry has been the target of five separate nonpayment-related lawsuits over the last 18 months. His former chauffeur, David Kuchinsky, earlier this year also accused Curry of sexual harassment in an outrageous case that is still pending.

Around the same time, Curry’s ex girlfriend and nine-month-old daughter, Ava, were murdered in Chicago.

Curry is not the only NBA star to fall into foreclosure — former All Star Latrell Sprewell captured national headlines in early 2008 when he defaulted on his half-million dollar home in River Hills, Wisconsin. For more on celebrity foreclosures check out our archive right 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.

Location: Cook County, Illinois
City: Skokie
Price: $399,000
Zestimate: $588,083
Difference: $189,083

Note: Other comparable listings in the area range from $473,721 up to $689,195. For more property details or to talk to a local real estate agent/broker about this listing CLICK HERE.

To check out some of the other “Deals of the Day” feel free to visit our archive.

What’s the deal of the day? We comb through our nationwide database of more than 1.2 million distressed real estate listings to showcase some of the best investments available on our Web site each morning. These listings represent just a small fraction of the amazing investment opportunities available at Foreclosure.com. To find more bargains like the one pictured above search Foreclosure.com or sign-up for FREE Email Listing Alerts.