[quote=FormerOwner]It’s seems like all of these pre-foreclosure websites are a waste of time. If the house isn’t for sale, you can’t buy it – period. [/quote]
It does give you an indication of the stress in the area, the potential of future inventory. It may take a while b/c of postponements and kicking the can down the road, but many of those w/NODs see NTS dates. It’s just taking a while. The powers that be are dragging this out for whatever reasons.
While you can’t buy it today, you can keep an eye on various places that may be on the market eventually. I’ve seen streets and complexes w/multiple NODs and the comps come down. Someone who isn’t distressed and who wants to sell consequently has to reduce their price. It’s a domino effect for sure. I think the NODs are a good indicator of what’s in the pipeline.
