Distressed properties — foreclosures, pre-foreclosures, bank-owned and short sale properties — represent an estimated 40 percent to 50 percent of all home being sold today in major U.S. markets. In fact, it is estimated that 8 million U.S. properties will be foreclosed upon by the end of 2009.

Resulting bargain prices, combined with interest rates that are still near historic lows and a substantial tax credit for first-time buyers, make today's real estate market an attract ...

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