The idea of ​​snatching up foreclosed homes and turning them around sure is appealing. Get an amazing home in an exclusive neighborhood, but only spend a fraction of what the home is actually worth, right? Surely you have ever dreamed of it.

Before I go any further, I must tell you the ugly truth surrounding foreclosure sales. In the United States, statistics reveal that most foreclosed properties end up selling for less than 5% below their market value.

For example, if a foreclosure is worth $500,000, they rarely sell for less than $475,000. Far from the amazing deals you read about and hear about, right?

Don’t get too disappointed just yet, because there are always real bargains on new properties. You just need to know where to look and you need to be quick when you find a deal. There are sharks that buy these properties in the blink of an eye, so you need to be a little quicker on the draw, that’s all.

If you are genuinely interested in getting a good deal on a foreclosed home, or are interested in buying and selling real estate and property, you should look hard at a foreclosure listing service.

Ultra Foreclosures is the ultimate resource for locating, investigating, and acquiring foreclosed property in the United States. Ultra Foreclosures allows you to search for different types of properties, including:

• Bank Foreclosures – REO and Repos
• Government Foreclosures – HUD, Fannie Mae, IRS
• Pre-foreclosures and FSBOs
• Tax liens and tax deed auctions

You can search for homes by zip code, city, county, or state. Members receive substantial contact information, appraisal information, foreclosure information, neighborhood information, sales history, and tax information on each property.

If you’re using a more common listing service to search for properties, like a magazine you picked up at the grocery store, it’s worth noting that the best properties never make it to those top sources.