I see people asking about foreclosures all of the time. The supposition is that foreclosures are the best deals. Some people think that the banks are so anxious to get the foreclosed home off their books that the homes are priced 10% or more below market value.
There are four types of Real Estate Sales (New Construction, Resale, Foreclosure and Short Sale.
In my blog, I describe each type and show why foreclosures are not usually the best deal