The #1 Real Estate Investing Community

Posted: 10:41 on 11-29-2008

There are quite a few of them , most that charge a fee to your cc.
Is this a worthwhile investment? I am having trouble accessing anything free...and it seems info is limited.

Has anyone had much joy in letting one of these online agencies charge your card or is it a scheme?

Profile of kazze

Quote this Post kazze

Join bargain76's Network
What's My Favorites Network?

bargain76

1703 Posts
Member Since: 12/05/2003
Jacksonville, FL

Posted: 13:16 on 11-29-2008

We subscribed to 2 competing (local and statewide) listing services for several years.

Comparing one to another usually gave us a fairly complete picture of what is going on. We still had to do preliminary research and title searches to determine exactly what is being sold and exactly how many third party encumbrances (if any) were involved.

There are varying levels of competance, however. Your double-check will expose these. Local or state-wide services are best. I have not experienced success with Nationwide listing services.

We bought & sold over 200 houses in the past 4 years....and could not have done it without the listing services guiding us along the way.
_________________
"BARGAIN KING"

Profile of bargain76

Quote this Post bargain76

kazze

6 Posts
Member Since: 11/27/2008

Posted: 14:23 on 11-29-2008

Thanks for the reply....

So they are probably worth the investment if only to get started?

Profile of kazze

Quote this Post kazze

kazze

6 Posts
Member Since: 11/27/2008

Posted: 14:24 on 11-29-2008

Also, is there one that you would recommend?

Profile of kazze

Quote this Post kazze

Join ITBInvestor's Network
What's My Favorites Network?

ITBInvestor

525 Posts
Member Since: 09/07/2005
Holly Springs, NC

Posted: 14:25 on 11-29-2008

kazze, where are you investing?

Profile of ITBInvestor

Quote this Post ITBInvestor

Join cjmazur's Network
What's My Favorites Network?

cjmazur

4284 Posts
Member Since: 07/23/2003
Cupertino, CA

Posted: 15:44 on 11-29-2008

many of the foreclosure website are crap.

dataquick, reqlquest, and westlaw are much more accurate.

Profile of cjmazur

Quote this Post cjmazur

kazze

6 Posts
Member Since: 11/27/2008

Posted: 19:19 on 11-29-2008

I was looking into two places I used to live (only because I am familiar with them).

One is Orlando Florida where a real estate agency has forwarded me current lists of foreclosed homes/condos. The drawback to me is that Orlando is now so overbuilt. Taxes appear quite high and when looking at condo's - they don't disclose the condo fee's until after you make an offer...then you have 15days.

The other is in northern Va. about thirty miles south of dc. I know there are some foreclosures there, but cannot get detailed info on them.

These websites like ****Must participate a while before posting URL's*** keep popping up all the time and they want a credit card.

Meanwhile I will try the dataquick.

Profile of kazze

Quote this Post kazze

Join bargain76's Network
What's My Favorites Network?

bargain76

1703 Posts
Member Since: 12/05/2003
Jacksonville, FL

Posted: 05:14 on 11-30-2008

IRSFL is one we use in Florida.

Be very careful about Florida condos. Prices are still in free-fall. We're passing on condos priced 1/2 of what they were a couple of years ago.

And you are right that Association fees and 'special assessments' can be brutal.
_________________
"BARGAIN KING"

Profile of bargain76

Quote this Post bargain76

kazze

6 Posts
Member Since: 11/27/2008

Posted: 08:47 on 11-30-2008

There are quite a lot of them. Still dropping in price?
Florida just went crazy...I lived in Orlando in the nineties and went there this year again and couldn't recognize the place with all the new condo's/homes/apts and whatnot.
A relative of mine bought a piece of junk of a home a few years ago for a whopping 120 g's. She just sold it but I am sure she sold it for WAY under what she paid. In truth, that home she bought should have sold for about 50g. It was a 1950 home fixerupper in a less than desirable neighborhood. Homes around her home had bars on their windows and chain link fences around the house.

Anyway, I am just looking right now. I was suprised at the Metrowest area in Orlando with all the repo's. That place used to be so la de da in its day.

I will check out that website. Thanks.

Profile of kazze

Quote this Post kazze

Join myr's Network
What's My Favorites Network?

myr

19 Posts
Member Since: 01/20/2006

Posted: 11:05 on 11-30-2008

Quote:

On 2008-11-29 13:16, bargain76 wrote:
We subscribed to 2 competing (local and statewide) listing services for several years.

how old are the listings on your websites? are there any of them 2-3 months before the auction date?

[ Edited by myr on Date 11/30/2008 ]

Profile of myr

Quote this Post myr

Join bargain76's Network
What's My Favorites Network?

bargain76

1703 Posts
Member Since: 12/05/2003
Jacksonville, FL

Posted: 20:37 on 11-30-2008

myr: The web site listings are usually 4 to 6 weeks in advance of the auction. Most Florida courthouse sales are (by Statute) scheduled to take place 20 to 35 days after the Final Judgement is signed.

To get advance notice of impending foreclosures, you need to search Lis Pendens.... the first legal notice that a mortgage is in default.

_________________
"BARGAIN KING"

Profile of bargain76

Quote this Post bargain76

Join cjmazur's Network
What's My Favorites Network?

cjmazur

4284 Posts
Member Since: 07/23/2003
Cupertino, CA

Posted: 23:54 on 11-30-2008

the pay sites I ref'ed are typically 1-5 days after the filing of the NOD.

Profile of cjmazur

Quote this Post cjmazur

Join myr's Network
What's My Favorites Network?

myr

19 Posts
Member Since: 01/20/2006

Posted: 13:51 on 12-01-2008

hello bargain76! thank you for your reply! and extra appreciation from a newbie in the learning process

...so as far as i understand, the majority of those well-known foreclosure sites don't provide "early information" - advance notice of impending foreclosures, correct?

also about lis pendens (Notice of Default in my non-judical state)... in terms of effectiveness and reliability, where do you find them or what do you recommend: in a court/county recorder, searching the records in person or online as suggested by cjmazur [thank you, cjmazur]?

Profile of myr

Quote this Post myr