LYCOS RETRIEVER 
Foreclosures: Sale
built 213 days ago
The nation's weak housing market is characterized by plummeting values, high foreclosures and a glut of inventory. According to the National Association of Realtors, existing home sales in 2007 reached a total of 5,652,000 a 12.8% decrease from 6,478,000 sales in 2006. At the current sales pace, there is a 9.6 month supply of homes for sale.
Source:
An economic impact study conducted by NAR earlier this month estimated that increasing the GSEs' conforming loan limits would result in as many as 500,000 refinanced loans and could help reduce foreclosures by as much as 210,000. In addition, over 300,000 additional home sales could be generated. "These are real results and can have an immediate and sustainable impact for families across our country," said Gaylord.
Source:
The most common way of buying foreclosures is through the public auction method. One of the advantages of this method is that it is relatively straightforward: all you have to do is show up on the day of the sale and bid. However, these auctions often happen quickly, and can leave you very little time to fully research properties or prepare yourself. On the other hand, they offer the best potential for discounts of any other kind of foreclosure sale.
MORE ABOUT
Sale