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.