Look at any list of foreclosed homes online and you will likely find thousands, if not tens of thousands, of homes. Many of these homes have very attractive prices, so it can be easy to get overwhelmed by a foreclosure listing. Many of the prices are so wonderful that you may want to explore every property on the list of foreclosed homes. A better strategy for looking at distressed property listings is to do some thinking and work before you go online.

It is very helpful to decide what you are looking for before you go online to look at repo homes. For example, determine what price range you can afford. You may even want to get pre-approval for a loan before you begin house-hunting. Repossessed properties sell quickly, so taking this extra step can be important. Next, determine where you want to live. Which communities are you willing to consider? Determine what qualities and amenities you need in a home. Does your property need to have three bedrooms, a large yard, or other features? Write these down and also write down features that you would like to have but dont necessarily need. Finally, write down whether you need to focus on specific types of distressed properties. It may not matter to you at all, but you may find that you qualify for a special HUD program that could save you thousands of dollars. If this is the case, you might want to focus your search on HUD homes.

Once you have your list, it is time to look at foreclosure listings. Look at all the homes available and then look at only those homes in the neighborhoods you want to live. Weed out homes from other areas, even if they have very attractive prices. Eliminate from your list all the homes outside your price range and all the homes that do not fit your other criteria. At this point, you have likely whittled your list down to just a few homes all of which have everything you are looking for in a property. Now is the time to print your revised list of foreclosed homes and start researching the properties.