What is prompting you interest in pre-foreclosure/REO? I have found here that the marketing of those homes does not always produce a reduced price - & with so much on the market now, I don't think you have to focus just on that type of listing to get a fair price on a home. Also, be advised, REOs always & short sales mostly are sold as-is with no repair allowances. So if bringing a home up to your standards is any concern, best to aware of that. Some people are very handy & don't mind that issue, though.
The other issue is your timing. Be aware that when buying a home where the bank is involved - it can take weeks to get a contract accepted. If there is any timing issue for you, better to be aware of that up front.
What is your price range? What characteristics are most important to you? I can set up a search program for you with parameters. It will only pull up new listings or price reductions, so you don't get overwhelmed by redundant listings. All Best, look forward to hearing more from you, Nicci@NicciHyatt.com