Foreclosure and REO Search

I hate the auction nonsense on Zillow, Trulia and Redfin. I understand that REO Properties are listed on different Bank Websites and it is nearly impossible to compile them into one website without human intervention. However is we want to steamline the Foreclosure repercussion, then this is necessary. Each Bank hold REOs and they are not supposed to make a profit from them, so these properties go for a fairly low price. There may be some bought during the height of the Real Estate bbom but most are listing at less than their repaired price. The issue with these properties are most suffer from vandalism and disrepair. Homeowners who have abandoned their properties and not likely to have the extra cash for upkeep. After a a lengthy foreclosure process and months of listing, properties are in disrepair. Various investors then pounce on the opportunity to purchase these low proces home for renovation and flipping. However, what about the low income American. Low priced homes like these are great opportunies for the average American to buy a home. However the only way to keep track of these properties is to pay a website that may or may not work, or search each Bank REO website on your own. Also after the property is bought there is no consolidated place for someone to gain renovation knowledge, advice on Mortgage products to finance purchase and repair, or even a list of what types of renovations can wait and what can't in a run down home. A site that can facilitate the purchase of REOs and help new buyers through the process would be a fun site to develop.

Ideas:

There are lots of things that come to mind on a day in, day out basis. Here I want to document some of the curiosities that drift through my mind.

-J