Ever Hear Of Realty Trac?
Hello all,
I need some advice. I've been getting our local paper with notice of defaults. I came across an online service found through MSN called Realtytrac. It made it sound most current and easier. Anyone try it? Opinions? Something you like better?
Thanks, Investorgrl
Once again, Stay away from RealtyTrac, there lists are outdated and useless, the REO's they have are investor owned props that are not a good deal
Be informed
Don
It is a pile. I looked at it for awhile and yea you will be a dollar short and a day late using that site.
Here are my two cents.
I don't think it's too important that the information be so fresh that the impact of a pending foreclosure has had a chance to set in with the distressed homeowner.
Scores if not hundreds of wannabee speculators rush for the latest information and jam the homeowners' mailboxes full with essentially the same pitch....
After the homeowner has had a chance to sort thru and exhaust his/her conventionally avaialble options and alternatives... then they'll be ready for some creativity. Maybe in a month or two. But the flow of material to their mailbox has slowed (if not stopped) to a trickle.
That's the time, IMHO, to make your presentation. You might lose a few to more aggressive speculators, but you'll pick up just as many... and have an easier time with the emotionally spent homeowner.
Information must be 1) accurate, 2) user friendly, and 3) reasonably priced.
I just starting using Realty Trac, just to check it out, and from what I've seen its mostly geared towards some one that wants to buy and live in a home instead of investors. But they seem to have HUD properties listed on there before they hit the HUD list and as long as you check out houses with listing dates no later then 3 months they seem to still be for sale and at a fair price.
I'm a beginer and its hard for me to find ways to find houses, and Realty Trac has been the only way I have found any houses so far, because all Im getting from relators is that there aren't any REO's to be had. Im planing on possibly biding on some houses I found off Realty Trac, we'll see how it goes.
Also, could I get any help here as to where would be the best place to look for Forclosed and Pre-forclosed properties, thanks a lot.
[addsig]
I tried RealtyTrac and found it very lacking. Lot of incomplete, out of date and incorrect information.
Their search engine was an abomination, as well
"Lake City, Ga"
"Lake City,Ga" (no space after comma)
"lake city, ga"
returned 3 separate lists of homes!!
Wow,
Thanks guys for the replies. I'm thinking I might stick with the Notice of Defaults in the local paper. I appreciate everyone sharing their realty trac experience.
Anyone else have an opinion, would love to hear it, and of course what source you use and like instead.
Investorgrl
The info they post is often out of date, so usewith caution. In most states - as you found out - the Public Trustee must publish the list of foreclosure several time. In Colorado it is five times. But most counties also have a web page dedicated to new foreclosures. Free. And current. You might give that a try!
im new to this whole thing so I tried realtytrac and what i am learing is that the data from then for NJ is old sometimes as much as two years old. Im gonna canel but want to find a replacment first just in case. Maybe someone knows of one?
I tried Realty Trac for about a month. I too, feel that the information was out-dated. Hope you have better luck-Moira