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      March 30, 2020

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Realty Store vs Foreclosure Listings

Best Foreclosure Listings

To help you find the Best Foreclosure Listings, TopConsumerReviews.com provides you with an in-depth comparison of Realty Store and Foreclosure Listings.

To see ALL of our reviews for the Best Foreclosure Listings, please Click Here

What is the best way to find Foreclosure Listings? Generally speaking, it should be easy to find properties that are in foreclosure, pre-foreclosure, are bank-owned (REO) or maybe even available for short sale. Why? According to the Mortgage Bankers Association, 1 out of every 200 homes will eventually be foreclosed on with 250,000 families entering into foreclosure every 3 months.

Although the total number of homes in foreclosure now is still much lower than the mortgage crisis over a decade ago, there are still thousands of homeowners that find themselves unable to make their mortgage payments due to unemployment, divorce, or other reasons. Eventually, the lender forecloses on their home.

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Best Reviews

2020

Foreclosure Listing Reviews

2 stars
Realty Store

REALTY STORE

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Cost:

$1 for a 30-day trial

$49.60/month for membership

California-based Realty Store was founded in 2005 and specializes in foreclosures and discounted properties. They use information from hundreds of public and private sources to provide Foreclosure Listings across all 50 states. They don't sell any properties themselves, but they can connect you with lenders and realtors if you need help with those parts of your transaction.

If you want to see what Realty Store has to offer with respect to Foreclosure Listings in your area, you'll have to sign up for a paid account. You can get a 30-day trial for $1; if you don't cancel within those 30 days, you'll pay $49.60 every month. Although Realty Store is not the only Foreclosure Listings service that doesn't offer a free trial period, the most trusted services don't make customers pay to see what the site has to offer.

We recommend that you click on the Sample Foreclosure Property link at the bottom of the page, to see what kind of information is available in a typical Realty Store listing. In general, you can expect to see details about the expected home value, the neighborhood, and any property information that's available like square footage, year built, and property taxes.

But we wonder just how current Realty Store's listings are when the home we clicked on under the site's "Real Estate Guides, News, and Trends" section was "just listed" in 2014. Looking at the blog posts in that same section, we found references to "recent destruction caused by Hurricane Sandy" (2012) and many posts from several years ago. Fortunately, we found more current information under the Foreclosure Trends tab at the top of the page, but most of those were posts from realtors hoping to earn your business.

At the time of our most recent review, Realty Store had an "A+" rating as an accredited company with the Better Business Bureau. That's the only reason that Realty Store still earned two stars. The complaints registered with the BBB, while always resolved or at least answered by Realty Store, still paint a picture of a Foreclosure Listings company that isn't doing a terrific job of keeping their customers happy.

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1.5 stars
Foreclosure Listings

FORECLOSURE LISTINGS

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Cost:

$3.95 for a 7-day trial

$39.95/month

Foreclosure Listings was founded in 1998 and compiles properties from all 50 states. Their database includes homes in Foreclosure, Pre-Foreclosure, Short Sale, Sheriff Sale, and "Cheap Homes".

The information given on each property seems to be primarily driven by other sites: Google Maps, Zillow, and so forth. That's to be expected from a service that specializes in gathering data from other sources, but Foreclosure Listings comes up short when compared with the wealth of information provided by competitor sites. You can get a preview of their listings by clicking on any of the properties featured on their main site or by searching for an area of interest, but you'll need to create an account to see what Foreclosure Listings offers in detail.

This service doesn't offer a free trial. You'll pay $3.95 for 7 days of access to the site, and then you'll be charged $39.95/month thereafter if you don't cancel.

Looking through the terms and conditions of using the Foreclosure Listings service, we found this: "Your information may be sold to brokers". This happens automatically, unless you specifically request otherwise. We also found out that the number of listings you can view in a 24-hour period is limited by the company, but they won't tell you exactly how many that is because it's a "secret number...to protect its data from data mining". Poking around other parts of the site, we found missing links and typos that made us feel that this Foreclosure Listing service is less than professional.

Foreclosure Listings is owned by the parent company Foreclosure Data Online, Inc. This business did not have a rating or accreditation with the Better Business Bureau at the time of our review, but the company has been on file with the BBB since 2004. To top it off, we found no customer reviews of the service - not even testimonials on the Foreclosure Listings' site itself.

For all of these reasons, Foreclosure Listings is one of the lowest-ranked services in our review.

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Continued from above

At the same time, this can be a huge opportunity for people looking to start or expand their investment portfolio by getting properties well below market cost, or to buy a home for themselves at a significant discount. Plus, the original homeowner may be able to avoid bankruptcy or other negative financial consequences through your purchase of their home, even at a reduced cost.

It's important to realize that many homes purchased as a foreclosure are sold as-is, so budgeting for things like repairs or replacing appliances is key. Another factor to keep in mind is that it may take longer to close on a foreclosed property than in a traditional home sale. If the property is bank owned, the bank may not be as motivated to cut a quick deal or close quickly. And, there can also be a legal component to getting the current residents to vacate the property before you can take occupancy.

Once you're ready to find a foreclosed property, where should you look? There are several services that provide Foreclosure Listings, doing all the legwork of searching databases and other sources of information to give you the details on the properties in your target area.

When deciding which Foreclosure Listing provider to use, keep these criteria in mind:

  • Cost. While some Foreclosure Listings are provided free of charge, this may only be for a short trial period before you're charged a monthly subscription fee.
  • Data Quality. Choose a service that updates its Foreclosure Listings frequently. It'll do you no good to get listings of properties that are no longer on the market. Also consider how much information you get in a listing: most services include the number of beds/baths and square footage at a bare minimum, while the best services include detailed information about the neighborhood, previous sales of the home, etc.
  • Reputation. What do others say about using the Foreclosure Listings they've found on the site? Is the service rated by the Better Business Bureau?
  • Ease of Use. Can you easily find what you want on the site and in each of the Foreclosure Listings? Does the site make it simple to get through the steps of buying and/or bidding on a foreclosed property?

TopConsumerReviews.com has reviewed and ranked the best Foreclosure Listings available today. We hope this information helps you in your real estate goals, whether you're buying a home for yourself or adding to your investment portfolio!

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