The situation is there are currently a lot of them! It all depends on your point of view and stand point if they are worth looking into. If you are low income, but have decent credit they are an excellent starter home. If you are an investor looking to flip houses or rent near schools they are great options. If you are looking for good homes, not usually where I would start, but in the higher end neighborhoods maybe. Real Estate is still a stable investment tool. It's a great way to build wealth.