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If you think now is the time to start to pick up bargains in real estate [I don't], then you may want to look at REO's. REO stands for Real Estate Owned, and is the real estate that is foreclosed on by banks, which is then put up for sale.

The following is a list of several banks, and the links to their REO sites:

  • Bank of America (NYSE:BAC)
  • Downey Savings (NYSE:DSL)
  • Fannie Mae (FNM)
  • Freddie Mac (FRE)
  • Sallie Mae (NASDAQ:SLM)
  • HSBC (HBC)
  • U.S. Bancorp (NYSE:USB)
  • Wells Fargo (NYSE:WFC)

  • Zions Bank (NASDAQ:ZION)
  • Source: 11 Places to Find Foreclosed Real Estate