The market is all about short sales and foreclosures these days so as a veteran real estate agent I would like to offer some advice for those of you wanting to dive into the world of foreclosures.

Many potential investors do not understand there are two major types of Idaho foreclosures. The first are known as auction or Trustee Properties. These are properties that are auctioned off typically by title companies that are acting as a trustee for the mortgage lender. Once a property owner has gone into foreclosure and the period for redemption has expired the home goes to a Trustee Sale. At this trustee sale the property is auctioned off to the highest bidder and the winning bidder receives a trustees deed which warrants nothing, it simply transfers title. You must pay all cash on the spot for these properties if you are the winning bidder. Lists of Trustee properties are available from me which I obtain from various sources such as local title companies and private sources I work with.

The other type of properties are known as REO or Real Estate Owned which are properties that did not sell at auction and are now owned by the mortgage lender. The mortgage lender may or may not repair these properties depending on the condition of the homes. In many cases these properties are not a real bargain when they first come on the market and only become attractive after the properties have been on the market for several weeks or months. You have time to arrange for financing for these types of properties. There are many sites like Realty Trac and foreclosure.com that offer lists of foreclosures in most market areas.

Which Idaho Foreclosures are best depends and must be looked at on a case by case basis. There is more risk but better values at trustee sales than in REOs unless these REOs have been dropped substantially in price. I know of several investors in my career that have lost some serious money because they made some serious mistakes that could have been avoided. My more than 28 years in the real estate business has allowed me to gain some valuable knowledge that simply cannot be learned in most classrooms.

Visit me at your Idaho Real Estate Source

More info on your stop foreclosure information search:

Get Free Foreclosure Advice and Free Refinance Quotes
Get your free on-line foreclosure refinance quote and free advice from foreclosure mitigation specialist in minutes. Compare real offers from top national subprime and hard money lenders... more...

Get Info On Macomb County Michigan Foreclosures Whether You're A Distressed Homeowner or an Investor
When it comes to preventing a foreclosure, individuals that are residing in Michigan have a few options. For example, foreclosures in Livonia Michigan and Macomb county Michigan foreclosures help to illustrate this point. This is because when looking at the statistics surrounding the rate of Macomb ... more...

Stop Your Michigan Home Foreclosures Dead In Their Tracks
The home foreclosures Michigan has to offer can be very beneficial for those who are looking to purchase homes at a very attractive price, all while helping the current owners to avoid Michigan real estate foreclosures. Michigan has unique state laws, including the regulations and options which ... more...

Foreclosures in South Florida In June 2007
First and second quarter of this year the number of foreclosures in South Florida was nearly the same but they have dropped this past month, with Miami-Dade County seeing the biggest drop-offs. There were 6,630 foreclosures in South Florida in the second quarter compared to 6,673 foreclosures in ... more...

Making Dallas Foreclosures Work For You
In November of 2006, according to the RealtyTrac? U.S. Metropolitan Foreclosure Market Report, RealtyTrac? U.S. Metropolitan Foreclosure Market Report the number Dallas foreclosures rose 67%, and the eight counties surrounding Dallas saw a new foreclosure for every two hundred and eighty-six ... more...