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.

That didn’t take too long.

Little more than two months after Bank of America (BoFA) initiated a self-imposed foreclosure freeze to review its eviction process, the largest financial institution today announced plans to resume about 16,000 cases this month.

According to Barbara Desoer, president of BoFA Home Loans, these cases have been selected because they are vacant and/or are not owner-occupied properties.

Here’s a snip:

“We are taking a deliberate and phased approach to restarting foreclosure sales. We continue to be committed to ensuring that no property is taken to foreclosure sale until our Bank of America customer is given an opportunity to be evaluated for a modification or, if ineligible for a modification, a short sale or deed in lieu solution…. Foreclosure is the option of last resort.”

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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:

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