Alexandra, if you can make ALL cash offer then bank owned homes would be a good idea. Short sales can sometime take a long time so you need to have patience. Look at all the homes in your price range and see what you like versus going only for foreclosures since sometimes you can get a good deal on a regular sale if there is bankowned/short sale home close by :)

In this slow real estate market sometimes non-foreclosure homes are as big a bargain as foreclosures and easier to obtain.

Alexandra,

The best bet for finding an affordable home in South Bay Area is really combing over the inventory and understanding the market value. Not all foreclosure types are deals. I have been previewing a lot of homes in the West San Jose and Campbell and I can tell you that there are some nice deals that aren't in the foreclosure process and there are a lot of "trashy" homes that are foreclosures and not that great of deals.

I am not ruling out foreclosure deals but I will say they aren't automatic deals. It takes someone who really knows the neighborhood and has studied the comps. If you have particular listings you have seen and want to know if they are a real deal, just ask a Realtor that works the area.

CJ

Hi Alexandra, There are many questions to be asked when purchasing a foreclosed home along with details (pros and cons). I personally have live in the county of Campbell for the past 12 years and love it. You can visit my website and click on communities to preview. Email me if you would like to get together :) I loves to have coffee and show u around

Campbell is a great area to live in. There are plenty of all three types of properties you mentioned that are readily available on the local MLS. You can search the MLS for free and without obligation at my website below. Kind regards.

Alexandra, Have you been pre-approved for a loan yet? I have access to several foreclosure/short sale listings and I would be happy to send those to you. Send me an email or visit my web site.

There are homes in Campbell and the west San Jose area very well priced now due to foreclosures and short sales. Single family homes at $600,000 and below. Look at our foreclosure listings below.