Foreclosure Radar

April 9, 2008
By: Denny Oh
Author's Website: http://www.sandiegoh.com

Foreclosure radarAs the market has shifted and distressed sellers are more plentiful, a variety of companies are trying to help home buyers and Realtors keep up to speed.  In response to the increase in foreclosures and short sales, Sean O’Toole founded a company called Foreclosure Radar.  Foreclosure Radar allows home buyers to track every foreclosure in California, accurately and easily. 

Yesterday, April 8th, 2008, the company release a new product called Foreclosure Listing Exchange (FLX).  This service allows users to search for homes that are bank owned, going to auction, or preforeclosures.  The system uses a 120 point validation system and is updated around the clock to ensure its accuracy.  According to O’Toole…

Here’s the deal, in a nutshell:
 
o It’s IDX search for foreclosure listings
o It’s a search widget that integrates seamlessly with a broker or agent’s site
o It gives consumers foreclosure information they previously had to pay for (on sites like RealtyTrac, etc.)
o Foreclosures outnumber MLS listings in many markets; broker now have a tool to market them

FLX tells you where the property is located, what the estimated value is, the loan amount and of course the basics like square footage and number of bedrooms.  From what I’ve briefly seen, this tool looks to be very appealing.  As a Realtor, I think this will help agents track down foreclosures(with accuracy) for their clients and also provide ammunition for writing those low offers, by using foreclosures. 

Next week I will begin a month long evaluation of FLX and Foreclosure Radar.  Obviously my results will be limited by my location and the amount of traffic to my site, but I will report back with my findings.  And in case you’re curious, O’Toole has purchased over 150 foreclosure properties…I think he knows a little about the business.  That’s all for now.

| More

Enjoy this post? Subscribe to the Geek Estate Blog feed or get updates via e-mail

Delivered by FeedBurner

Comments

6 Comments so far

  1. Drew Meyers on April 10, 2008 8:20 am

    I’m looking forward to hearing your findings Denny. I certainly think there is a lot of potential for functionality like this.

  2. Jay Thompson on April 11, 2008 2:33 pm

    There is clearly a demand for something like this.

    Having had a little “sneak peek” at the product, and an email discussion with Sean. I can tell you that he clearly “gets it”.

  3. Is better consumer access to Oregon foreclosure and REO’s on the way? « All Things Astoria on April 12, 2008 2:14 pm

    [...] 12, 2008 in real estateTags: astoria, foreclosures, reo A recent post that detailed the launch of a new foreclosure database that offered tons of detailed really caught [...]

  4. Foreclosure Radar Update | GeekEstate Blog on April 25, 2008 10:50 am

    [...] and the guys at ForeclosureRadar.com were nice enough to let me try out their new product, Foreclosure Listing Exchange(FLX). I’ve had it on my site for about 2 weeks now and I’m beginning to get a good amount of [...]

  5. Dale Kirkland on August 18, 2008 11:13 pm

    This is awesome, so now we’re just waiting until the American consumer gets some money to spend. But thanks for the heads up on this; I will check it out. Dale

  6. Home Foreclosure Attorney on October 16, 2008 6:51 am

    Denny this was a great find… I was looking for some kind of update about this company and how they’re handling the recent home foreclosure crisis.. any thoughts?

Twitter Users!
Enter your personal information in the form or sign in with your Twitter account by clicking the button below.

Subscribe without commenting

Recent Contributors

Recent Comments

Community

Links

Web Tools

Get Updates via E-mail

Delivered by FeedBurner

RSS

Subscribe via RSS

Categories

Stats

Total Comments: 3094

Admin