A quick search of the the Metropolitan Regional Information Systems (“MRIS”) Realtor database of homes on December 15 2008 reveals that 37% of homes currently listed are openly declared to “distressed properties”, either in foreclosure or REO or short sales.  (Click Here to get a copy of this report and/or a list of foreclosure properties in your exact price range).

Finding Foreclosures in Howard County

If you are a Howard County home buyer, where do you go to find foreclosures, REO’s or other “distressed properties”?

Lots of websites claim to have “the best” source of foreclosure listings online. In fact, some even charge a fee just for access. (See Foreclosurepoint.com’s $79/month search fee).  As a consumer, what is the “real deal”?  Should you pay such a “foreclosure search fee”?  Where can you really find the single best source for foreclosure listings online?

Truth is – the single best location to find foreclosure and distressed home sales in Howard County is the MRIS Realtor® database of homes, and there is no reason why you should pay a cent to search these homes online.

When a home is in the process of being foreclosed upon, it is generally not offered “for sale” period, because buyer and lender both would have to agree to the sale, and rarely is this the case.

When a home is actually auctioned for sale at the Howard County courthouse steps you can purchase it at auction, but this process involves huge risk and is inappropriate for most home buyers.  The only reliable source of all such foreclosure auctions is the print edition of the Howard County Times, the paper of legal record.

But, once the lender has completed a foreclosure (REO homes) and/or when a lender is agreeable to a “short sale”, fully 98% of these homes can be found by you simply by searching any consumer portal to the MRIS Realtor® database of homes.  That is because lenders, wanting to get rid of these homes as quickly as possible, insist they be marketed through the MRIS.

Naturally we’d suggest you use the JohnAndAngela.com site to search for foreclosure and distressed homes in Howard County. Why? First, we use full IDX (Internet Data Exchange) data sharing.  You’ll not only see “real time” info the same as Realtors®, you also get the most complete set of info available to consumers, including street addresses for every home!

But whether you search the MRIS through our site or another Realtor®’s site please don’t waste your money paying to search foreclosures online – because you won’t get anything that you can’t already get for free from sites like JohnAndAngela.com.

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