Right now, during the winter months, according to National Association of Realtors® President, Ron Phipps.

He elaborates in a recent press release:

“Traditionally there are far fewer buyers competing for properties at this time of the year, so serious buyers have a lot of opportunities during the winter months. Buyers will enjoy favorable affordability conditions into the new year, although mortgage rates are expected to gradually rise as 2011 progresses.”

Translation: If you’re serious about buying, the time to do it is now … before New Year resolutions, as well as higher interest rates, begin to kick in.

To search foreclosed homes for sale in your area, including short sales and other distressed real estate deals, click here. You can expect to save 10 to 15 percent at a minimum and up to 50 to 60 percent!

Hurry … the best deals don’t last very long. At all.

Just hit up an REDC auction near you … that’s how:

Buying Fannie Mae-owned homes just got easier.

The largest mortgage buyer/backer in the nation recently rolled out HomePath Online Offers, which gives real estate agents the power to submit bids on behalf of clients who are interested in buying foreclosed — also known as Real Estate-Owned (REO) — homes.

Buyers/investors in Orlando, Fla., San Diego, Calif., and Detroit, Mich., will be the first to test out the new program.

Jim Tiegen, Vice President of Fannie Mae’s REO regional offices, had this to say to DSNews.com about the innovation:

Read the rest of this entry »

Yes!

The “foreclosure freeze” and subsequent “robo-signing” scandal has unfortunately scared away many would-be buyers and investors from pursuing otherwise fantastic deals in the distressed real estate market.

Here’s the deal: Bank-owned foreclosures — also known as Real Estate-Owned (REOs) — that are still on the market and currently for sale are safe to buy.

These properties have been repossessed and their titles are for all intents and purposes, clean. If there is any doubt, the banks and/or lenders will pull them off the market to investigate the individual situations.

Sure, some banks such as Bank of America temporarily put the breaks on all foreclosure sales to err on the side of caution, but even it has started to get the important process moving once again.

And what if, in a rare instance, you purchased a bank-owned property that happens to be the subject of a “wrongful foreclosure” case? As long as you and the lender have title insurance, which is typically mandatory in all home purchases, you still keep the house.

Bankrate.com explains:

“To the extent that a borrower who was foreclosed upon has recourse, it’s against the foreclosing lender, and they can seek monetary damages. But the property’s gone…. The current owner who got title insurance — they get to keep the property. They’re a good-faith purchaser.”

The moral of this story is relax! Don’t be scared of searching and purchasing foreclosed homes directly from lenders/banks. Bank-owned foreclosures/REOs are indeed still for sale, and more than likely, available at significantly reduced prices.

Proceed with confidence! And you can start today on Foreclosure.com — CLICK HERE.

… according to Richard Smith, CEO of Realogy Corporation, the nation’s largest provider of housing services:

To search foreclosed homes for sale in your area right now click here.