According to Altos Research, there were 125 high-end condo transactions during the week of 11/15/2009 that skewed pricing forecasts and models, leading some to believe that Miami condo prices may have bottomed out. In reality, there are still over 9000 condos available for sale and median prices are continuing to fall as foreclosures hit the market.

Yes, it seems like everyone and their mom has jumped on the bandwagon and added some kind of foreclosure page to their website.

And rightfully so, in a recent study 80% of all real estate searches online were for a foreclosure related term or address. ASTOUNDING! So what seperates the good foreclosure pages from the not so good? Well, some are paid and others are not, but at the end of the day they all have pretty much the same information.

Unless you’re closely watching individual properties and plan on making an offer the bank immediately after reposession, chances are you’re going to be watching the mls. And that’s where all these sites get data – the local mls. There is no need to pay for this data anymore. Realtytrac and other sites exist just to extract money from your pocket and sell services you don’t need. Investor reports, tenant services, blah blah. The $49.95 can easily become $200 or more if you aren’t paying attention.

The best way to find great deals on distressed properties is to use a local Realtor that understands the market. Allison Ables in Gainesville has one of the greatest local foreclosure and short sale pages I have seen. She sorts out Gainesville FL bank owned and short sales in an understandable layout. There is even a nifty mortgage calculator!

I’m sure we’ll have some interesting foreclosure pages before this entire saga is over with. Unfortinately, we’re only at the beginning of the foreclosure wave.