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Old 06-21-2011, 09:47 PM
 
180 posts, read 391,682 times
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Does anyone know of a site that has the listing of pre foreclosure listings?
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Old 06-21-2011, 09:55 PM
 
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realtytrac, but it costs $49/mo. Others may have better ideas for free.
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Old 06-22-2011, 05:44 AM
 
88 posts, read 132,666 times
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Quote:
Originally Posted by NU2LV View Post
Does anyone know of a site that has the listing of pre foreclosure listings?

Call up a realtor!

They have access to a ton of listing in various states of foreclosure, etc.

Friend of mine tried to find a decent short sale for over a year on his own, but always seemed like he was getting in on the offer process just a tad late.

Hired a realtor (begrudgingly) and had a house within 3 months.

It's well worth the expense, if you're serious about finding the right place.
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Old 06-22-2011, 11:35 AM
 
2,076 posts, read 4,073,711 times
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Sites like RealtyTrac have the data, but you can get it for free if you want to dig through the recorders website.

The real question is, what are you trying to do? Pre-foreclosure can be after the notice of default is filed or the notice of trustee sale, depending on what exactly you're trying to do.

Most pre-foreclosure investors are going to hit up the homeowner and try to buy their home from them. That doesn't work well in Vegas since virtually everyone in foreclosure owes far more than the home is worth, thus there is no equity for the investor to try and get.
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Old 06-22-2011, 12:30 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
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Yup - The only real plays on a pre-foreclosure around here are a short sale or a trustee sale.

Short sales are listed in the MLS. Any RE Agent or One of the RE web sites.

Trustee sales are an expert play with substantial risk. They are also reasonably difficult to pull off even if you understand what you are doing.
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Old 06-22-2011, 01:52 PM
 
180 posts, read 391,682 times
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Wasn't really looking to purchase a pre-foreclosure more wanted to know what might becoming available in certain townhouse complexes. If a property is going to a trustee auction do they typically end up on the MLS after if so any ideas on how long
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Old 06-22-2011, 03:06 PM
 
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correct me if I am wrong...I believe auction property don't show up on MLS. They will end up on MLS when someone have bought it off auction and resell (flip) it on the general market.
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Old 06-22-2011, 03:30 PM
 
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Yes they typically do end up on the MLS after the auction is complete, but the notice of trustee sale simply indicates the first potential auction date. The vast majority of auctions are postponed for 3+++ months. I've seen ones that were postponed for a year and then died on the vine. I don't know if the homeowner did a loan mod or what.

There is a house around the corner from me that's been vacant for over a year and they've postponed the trustee sale for two months. Why postpone a vacant home?

Even after the auction, it can be many months before the bank decides to list the home. If it's a private investor who buys at auction then they will typically rehab and list quickly, but they are a small fraction of the total auction buyers.

Bottom line, you're going to do a lot of research/work for a minimal chance of finding any real useful information.

Quote:
Originally Posted by NU2LV View Post
Wasn't really looking to purchase a pre-foreclosure more wanted to know what might becoming available in certain townhouse complexes. If a property is going to a trustee auction do they typically end up on the MLS after if so any ideas on how long
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Old 06-22-2011, 03:55 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,204,096 times
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Quote:
Originally Posted by Scott456 View Post
correct me if I am wrong...I believe auction property don't show up on MLS. They will end up on MLS when someone have bought it off auction and resell (flip) it on the general market.
Trustee sales don't end up on the MLS...there is however an auction category that is on the MLS. Those auctions are straight RE deals often with the bank holding a reserve price.

Bank trustee purchases appear somewhere between a week and never. Been waiting for a month for one...we even know the agent who has it but he has not been able to get it unto the market. Waiting for the bank to set the price.
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Old 06-25-2011, 09:13 AM
 
Location: Nebuchadnezzar
968 posts, read 2,062,532 times
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Quote:
Originally Posted by NU2LV View Post
Does anyone know of a site that has the listing of pre foreclosure listings?
Why are you interested in preforeclosures? There are so many (likely cheaper) REO's available.
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