Yes, you can find good bargains among the foreclosed homes. But be sure you are going in with your eyes wide open. Remember that as homes are being foreclosed, the owners are being forced out. Their unhappiness may be reflected by not taking care of the property. Some trash it, or strip it.
Are you prepared to tackle repairs on your own?
Are you prepared to buy the property AS IS?
Do you have a substantial downpayment?
Are you preapproved for a loan? Some lenders refuse to lend money unless the property meets their requirements.
If you haven't engaged a realtor yet, I suggest you do. You need professional guidance in what may be the most important and biggest purchases of your life. Make sure you have an advocate on your side. A realtor can guide you through this very convoluted process.
Extra! Extra! Read all about it!.Here's a link to an article (and there are more on this site) on buying foreclosures
Personally, I would look to Fresno, Gilroy, or east in Kern County or in areas that are between farmland and city.
Talk to you soon!
Nenette Bettencourt GRI