1. Be Patient: There are many foreclosures to buy and another wave is expected this summer now that Fannie Mae, Freddie Mac, FHA and other banks have lifted their moratoriums.
2. Pick the right Realtor: There are a lot of great agents out there, but there are a lot of agents who just fire off emails of listings, with no knowledge of the real estate they are trying to sell. In order to buy real estate today, you and you’re agent need to work as a team, and be able to identify all the

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By ADRIAN SAINZ, DAVID TWIDDY, DANIEL WAGNER, ALEX VEIGA

Associated Press Writers – Sat Aug 1, 10:39 am ET

It was — note the past tense — the worst housing recession anyone but survivors of the Great Depression can remember.
From the frenzied peak of the real estate boom in 2005-2006 to the recession’s trough earlier this year, home resales fell 38 percent and sales of new homes tumbled 76 percent. Construction of homes and apartments skidded 79 percent. And for the first time in more than four decades of record keeping, home prices posted consecutive annual declines. (more…)