It's never as good as it seems..Everyone is out to make a buck right now so be careful of foreclosure/pre foreclosure websites that give you teaser addresses that list ridiculously low prices and than ask you to pay for more details.
We often encounter buyers who come in with lists from these websites asking us why the MLS doesn't list these cheap homes and how they can buy them. Truth is that some of these homes are not even for sale. The prices that are being listed are usually loan amounts for first or second trust deeds that are in default. If you see an incredibly low number listed, be skeptical as it is usually the 2nd loan amount. It DOES NOT mean that it is for sale at that price
If you are a savvy investor who knows how to approach homeowners, put contracts together, and real estate disclosure requirements than these websites can be helpful. If you don't know what to do with the information given than it's best that you contact your Realtor for help in this market. Don't get sucked in!!!
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