Competition is Fierce! The foreclosure rate seems to be rising which is sad news for some but a greater opportunity for the financially prepared investor.  Take a look at these sites and search for properties in your area!

Government Property Sources

FDIC: Federal Deposit Insurance Corporation The FDIC offers properties for sale and auction on their website. HomeSales.gov "These previously owned homes are for sale by public auction or other method depending on the property. Anyone can buy a home for sale by the U.S. Government, but you must work with a real estate agent, broker or servicing representative to submit an offer or bid." HUD Homes Website of the US Department of Housing and Urban Development. If you want to buy a HUD home, you need to contact a real estate broker in your area who is authorized to sell HUD homes (most are). Your broker will submit a bid for you. The Department of the Treasury / IRS Under authority of the Internal Revenue Code, the property described here has been seized or acquired for nonpayment of internal revenue taxes and will be sold. SBA: Small Business Administration Listings of SBA acquired properties around the US USDA: United States Department of Agriculture Find pending foreclosures and acquired properties for sale by the USDA