KANSAS CITY, Mo. -- There are currently nearly 3,000 houses in the metro in foreclosure. It's not a good sign for the economy, but it may be a good sign for you to jump in to the real estate market, some realtors say.

A roomy, impressive Northland home was on the market for $550,000, but was just put into the hands of foreclosure giant, Ellen Brewood, known in the Kansas City real estate world as Sellin' Ellen.

Within a day, the house sold for $380,000.

Many people are deciding this is the time to cash in on deals like this -- whether as an investment, rental property or personal home.

Scott Clifton decided to do just that in south Kansas City.

"When I walked into this, I knew it. I said, 'This is it. This is my vision, and I'm going to make this house my dream home,' " said Clifton of KC Renovations, Inc.

Clifton needed plenty of vision for the huge home. It needed a lot of fixing.

But, vision is the key, Brewood said. Foreclosure homes are sold "as is," so if you have a good, imaginative eye, you can stand to profit, she said.

But, unlike buying at a foreclosure auction, purchasing from a bank offers buyers the opportunity to bring in inspectors -- to know exactly what you're getting into.

Sellin' Ellen is the No. 1 foreclosure agent in the world with Realty Executives, selling about 300 properties per year.

And, in the decade she's been doing this, she said she's seen it all, including properties where disgruntled homeowners ripped out the plumbing, fixtures and even the kitchen sink.

But, in the latest tide of foreclosed properties sweeping into the beat-up housing market, Brewood said she's seeing more and more foreclosures in almost move-in condition, often just needing a little cosmetic help.

Clifton is not new to the foreclosure market. He bought his first foreclosed property when he was 19 years old, and now he's makes a living at it -- buying and selling as an investor.

"Foreclosures in today's market are an exceptional buy," said Clifton.

That's why he didn't hesitate to put six weeks of elbow grease into his dream home property after buying it at half price.

"I put $80,000 to $85,000 in it, and I have instant equity of $75,000 to $90,000," Clifton said.

"You get a much better value now than ever. Interest rates are low and values are low, so it's a great time to buy," said Brewood.

But Sellin' Ellen warns that when shopping for foreclosures, potential buyers should use someone familiar with that market and realize the properties go quickly. It's not unusual for two to three bids to come in at the same time.

"Buyers will come in and try to dicker back and forth and they lose the property. So, make a good offer," Brewood advised.

The hardest part about getting in on the foreclosure market is often the financing, Brewood said. But if you have good credit, there are loans out there.

Brewood said there are foreclosure properties available in every price range. She said she has sold foreclosures as low as $1,000 and as high as a million -- usually 20 to 80 percent below market value.