I was watching CNN the other day and they were doing a piece on how Yahoo! Real Estate now lets you search for foreclosures. There weren’t any house by me in foreclosure within 5 miles so I broadened the search to 20 miles. The cheapest house on foreclosure listed was for $433,600 for a single family in a horrible horrible area. What I like is that there’s a mortgage calculator right on the page so you can get a rough estimate of what you’d pay monthly at certain rates.
With Google, you can use the Google Base housing search to look for real estate. There’s currently no option to search for foreclosures. However I’ll admit in the metropolitan NYC area, foreclosures are rare as sellers can usually get rid of properties easily with the high demand. There are a ton of junk listings where sellers are “fishing”.
Hopefully Google and Yahoo! improve the services, but I don’t think this will likely replace MLS listings anytime soon.
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