find reo propertiesIf you are looking for a home right now, there are lots of opportunities to find REO properties that are being sold at or below market right now. The banks have lots of foreclosed properties and when you start your search to find REO properties, you'll probably be amazed at how many of them are available. Banks want these REO properties off their books because they cost money to carry, and these homes did not sell at auction, so they are anxious to get them sold. You can find REO properties online or you can ask local Realtors for a list of the homes in the areas where you want to live.

Not all markets have as many REO homes as others. The southwestern states, Florida, and California have many of these homes available. In some markets the REO properties are a substantial part of the total sales in the area. In California foreclosures, short sales, and REO properties were at least 50% of all homes sold, so everyone wants these homes sold so that the markets can restore themselves to health and homes can start appreciating again.