Colette, It's okay to look for foreclosures, but I wouldn't limit myself to them. Due to the large number of foreclosures all property values are down. Many non-foreclosure homeowners are very willing to deal and have an incentive to keep their homes nice, unlike banks.
Short sales may also offer good values, but be prepared and willing to wait. Some banks approve sooner than others, but you'll never know how long until you have an approval.... more