If you are looking for properties with equity, there are many today. The most obvious are the Reverse Mortgage Foreclosures. Here is an example:
3BR/2BA House on Stamps Rd in Downey.
1st TD is $544,185.00
2nd TD is $1.00
The asterisk is on loan #1
Default Amount is $286,692.00
Estimated Value is $445,778.00
If this were a standard loan it would look like the house was upside-down with debt. But the default amount on loan #1 is ALL THAT is OWED!!!
That means you have a $445,778.00 property with only $286,692.00 debt, or $159,086 in equity!!!
Disregard the $544,185.00!!!
You have a family that has lost a loved one who was the breadwinner. They have equity, and they are faced with the prospect of having to get a new loan or sell the house. Make an offer!!!
If you are a Realtor, this should be an Absolute Goldmine!!!