ForeclosureJet.com Provides Sophisticated Investors with Free Next-day Pre-foreclosure Reports for 21 Colorado Counties
May 24, 2010 (Denver, CO) – You may have read a lot about the faltering real estate market, but shortsale and notebuying investors are seeing more opportunities than ever. ForeclosureJet aggregates Notice of Election and Demand (NED) pre-foreclosure filing information for 21 Colorado counties and provides this information daily and free of charge. The site also provides select subscribers and news organizations free data on Colorado foreclosure trends.
While there’s a multitude of outlets for pre-foreclosure information, ForeclosureJet, operated by SB Smith West, differentiates itself by reporting Notice of Election & Demand information within 8 hours of filing by the county Public Trustees. This makes ForeclosureJet’s information up to 14 days quicker than other services. Being the first to make a lender a reasonable offer on a note provides huge advantages for investors looking to quickly acquire new properties. ForeclosureJet facilitates this process and encourages investors to take an active roll in today’s real estate market.
“Every major lender is making a push to shorten the time from bid to close on short-sales across the country,” says Brian Smith, President of ForeclosureJet. “With the goal of shortening closing time to within 40 days, investors with a 10 to 14 day informational advantage are in a position to win time and time again.”
As the Colorado Real Estate Market continues to stagnate, more investors are looking to information technology to identify below-market priced deals on properties. “We’re seeing more filings now than ever before,” says Michael Lustig, co-founder. “On May, 25th alone, ForeclosureJet tracked 140 new NED filings with $$33,086,485 in outstanding principal balances for 21 Colorado counties.” Bank notes and short-sales offer excellent opportunities for both investors and people interested in acquiring a new personal residence.
“We wanted to find a solution for our clients who were dissatisfied with the available pre-foreclosure information. As entrepreneurs, we saw an opportunity to create a better system to deliver this information and provide it as a free service to real estate investors,” remarks Smith. “Being a small shop, we’re excited to give every real estate investor the same advantages that large, well-connected firms enjoy.”
In a notoriously slow moving industry, Lustig and Smith have figured out a way to add an element of speed never before seen. “We’re fully aware we could be charging a significant amount of money for this information,” Smith reflects, standing outside of their warehouse-office in north Denver, “but we are optimistic about the difference the information we collect could have on the Colorado real estate market. ”
ForeclosureJet is a free service, owned and operated by SB Smith West, a Colorado real estate firm that provides consulting services for debt and equity investors. ForeclosureJet will be expanding into other real estate markets within the coming months.
- Contact Information
- Michael Lustig
- SB Smith West
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