iPhone app helps buyers find foreclosed homes

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iPhone app helps buyers find foreclosed homes

July 7, 2010 - Increased foreclosures have flooded the market with discounted properties, and homebuyers are moving into those homes at an increasing rate.

Finding these properties has become a little easier, thanks to a free iPhone app developed by ForeclosureRadar. The company provides updates on the foreclosure market in California, Nevada, Arizona, Oregon, and Washington.

iPhone users will now be able to get daily updates on auctions and homes that have just hit the market. The app can use the phone's GPS capabilities to find all the foreclosed homes in the surrounding area and can provide details on previous ownership, transaction history, home value and equity, said the company. Users can also tag and save properties that they find appealing, or share pictures and notes with other interested homebuyers.

ForeclosureRadar CEO Sean O'Toole called the app "invaluable," adding that "success in today's foreclosure market is driven in large part by the quality and timeliness of your information."

Real estate agent Michael Temby expressed his satisfaction with the app, saying that it allows him to provide clients with instant, accurate information on foreclosures in any area.

Cities in Nevada, California and Arizona topped the nation in May foreclosure sales, reported real estate website RealtyTrac.

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