See if the state has them listed and what the status is. 

The houses may be cheaper, but you are dealing with, typically a lower socioeconomic status of tenant, and many section 8 properties.

The Cromford® Report provides detailed information to track the history and current status of the Greater Phoenix residential resale market and offers unique insight into its future direction.Updated daily and usually published online within a few hours, this site is intended for anyone interested in the state of the market and how it affects their investments and livelihood.

What is the goal of advertising this status?

Have to be honest about my newbie status, so I will also likely be asking questions every step of the way but in a year's time I'll be wheeling and dealing like it's old business!

If you go to their web site, and focus on Cary/Holly Springs/Fuquay, then play with the three status buttons (For Sale, Pending, and Sold) you'll see they are just starting out... with quite a chunk of Pending relative to Sold, and about equivalent number of For Sale as Pending.

There are many unique tax laws as it pertains to real estate(1031 exchange, cost segregation, Real Estate Professional Status, etc).

Assuming this is a federally backed mtg:My bank reports to the credit bureaus on the third of each month the current status of the loan.

Let's also be clear:Pre-foreclosure really isn't a status. 

Some liens have super status which means they always have priority no matter when the lien comes forward.