My name is Allyson, I do specialize in bank owned (foreclosed) and short sales properties and I have found my buyers some very good deals. I have just closed 2 bank owned propertys this month and I'm awaiting to hear back from the banks on 6 other offers as well writing 4 more this week. I educate my buyers so they understand the process and what to expect so that when it's time to write an offer they feel confident in what we are doing.
If you would like you can check me out at my web site http://www.homesbyallyson.com where you can also put in a search for bank owned properties for your areas of interest ( south bay area) and you will receive up to date listings and daily updates automatically and it is FREE!!
If you any addtional questions please feel free to email or call.
I'm not one who is a foreclosure expert, because our immediate area has not seen much foreclosure activity. My advice to you would be to wait until the home has been foreclosed upon by the lender and then buy it as a REO (Banked owned property). The little research that I have done shows that homes that are owned by the bank and then sold, sell for less than homes that are in foreclosure.
Inspect what you expect. Selling 1 REO or Short sale property transaction does not an "expert" make.