Boca Raton, Fla., April 7, 2009 — Foreclosure.com (www.foreclosure.com) today announced that its Web site traffic has increased more than 30 percent since this same time period last year because of the increased interest among prospective buyers in distressed real estate, including preforeclosure, foreclosure, short sale and other amazing deals.

Historically low home prices, as well as interest rates, and the recently-signed American Recovery and Reinvestment Act from the new administration on Capitol Hill that offers first-time homeowners a no-strings-attached $8,000 tax credit to put toward their principal residences, are all key factors in the recent surge in interest on the Web, according to Foreclosure.com Vice President, James Houston.

“Our servers are getting crushed around the clock,” said Houston. “We have noticed a significant increase in traffic over the last few months, which we attribute to several factors that have created a ‘perfect storm’-like situation.”

Foreclosure.com — already America’s largest and most trusted source for distressed real estate information — is among the top 20 online real estate destinations on the Web, placing twelfth for visits on a recent report from HitWise.com — the leading online competitive intelligence service – for the week ending on Feb. 28.

It’s perhaps no coincidence that the National Association of Realtors® issued a report just last month, revealing that foreclosure-related purchases comprised more than 40 percent of real estate sales nationwide.

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… is a good starting point to find foreclosed homes, according to the show’s financial contributor, Vera Gibbons, on this morning’s live broadcast:

“A lot of people may find themselves overwhelmed. Whats a good starting point? Web sites … Foreclosure.com…. There are really good values here [at a foreclosure auction]. You could save 30 percent, 40 percent. In some markets off up to 80 percent off the potential market value. Great, but here’s the thing: Very risky way to go here…. The safer way may be to go back to the bank. In the final stage it goes back to the bank — 50 of 100 properties are now going back to the banks. Over 1 million properties this year will be bank owned. So theres a lot of selection. So that means good prices. When you have a glut of inventory, the prices are good. Very good values here. This is actually the safest way to buy. Easiest way to buy. You can check the place out, do an inspection, finance traditionally with a traditional mortgage…. The bank-owned would be the way for the first-time buyer in particular if someones looking to buy a second home or vacation home.”

It sounds like she knows her stuff … really, really well.

To search Foreclosure.com today for the very best real estate deals in your area at absolutely no cost to you CLICK HERE. Our database features the very best preforeclosure, foreclosure, bank-owned and other distressed properties available anywhere.

That’s the startling word from a feature article released today by the Associated Press.

Most of the homes currently on the auction block in Detroit, Mich., can not be had for a single George Washington; however, the fact that bids are starting out so low in some cases underscores the current economic turmoil that has choked “Motor City.”

The unfortunate high foreclosure rate in Detroit is tied to the struggles of the region’s largest employer, General Motors, which has been forced to layoff thousands of homeowners in the area because the automaker has fallen on hard financial times.

The article indicates that at least 1,800 homes are now available for purchase for a thrifty $10,000, which is about ten times less than the market value just a few years ago. It’s remarkable deals like this that has piqued the interest of international investors who are looking to gobble up land on the super cheap.

Here’s a snip from one of them, Darren Veness of England, on his reasoning for investing in Detroit real estate:

“Do the math, you can buy and rehab a home for $20,000, then rent for $900 a month. Three to four months of the year, rent is going to pay the taxes…. We just want to build our portfolio as big as we can. I know Detroit has been in a mess … and I think now is the time. The next 10 years, it’s going to change. If my investment still pays for itself, why am I going to leave it?”

Indeed, investing in Detroit foreclosure homes today will more than likely not earn you a staggering profit tomorrow. However, the long-term payoff could be significant if you are able to hang onto a property — maybe even rent it for a few years — and hope that the economy there turns around sooner rather than later.

It’s not often that you come across homes for less than $10,000 — or even $1 — in a major city such as Detroit. You may want to check out what’s available on Foreclosure.com right here before foreign investors snatch up all the good inventory.

And if you’re real serious we recommend reaching out to a local expert in the area through our Broker Network. Our local agents and brokers are on the ground and know what areas are right or wrong for you — it’s nearly impossible to make a sound investment decision without knowing as many facts as possible.

Foreclosure-related sales are still going strong, according to the most recent housing report from the National Association of Realtors(R), accounting for nearly half of all real estate transactions in January 2009.

In fact, the increase in these types of sales caused the national median home price to dip 14.8 percent when compared to data from just one year ago, going from $199,800 in January 2008 to $170,300 last month. The national median home price is essentially the middle of the market — half of the homes sold for more and half sold for less than $170,300.

Here is a snip from NAR chief economist, Lawrence Yun, on the distressed real estate renaissance:

“It appears that in many instances a buyer can get a really good deal on a distressed sale … Home buyers are evidently competing for homes with deep discounts.”

Indeed, home prices on distressed real estate such as foreclosures are remarkable right now, coming in at up to 50 percent or more off normal market value. And we’re not talking about a few properties here and there — there are great deals sprouting up everywhere.

It’s now become the rule rather than the rare exception.

The interest in cheap foreclosure homes is also more than likely the reason Foreclosure.com has been experiencing record-setting traffic figures in the last few months. Our server has been getting crushed around the clock with curious bargain shoppers located throughout the United States.

That’s good news for us and them, as well as our nationwide network of real estate agents and brokers. We have assembled a dynamic team of industry professionals who are easy to contact and are always standing by to help our buyers make the best purchase decisions possible.

Check Foreclosure.com for possible steals available today in your area right here. To locate a foreclosure specialist in your area to assist with your search click here. Hurry up before it’s too late!