The best one to search (foreclosures, REOs) by area is http://www.hotpads.com as far as I have seen . This site is a 2.0 app. and you won't have to sign in etc. Don't pay to search on this or any others, it can be done for free these days.
The only problem is it doesn't seperate the short sales from bank owned although it mentions them respectively.
I have a foreclosure link on my site that will be out of beta midweek next week. Once done, it will have the particulars on bank owned only per area and current. Go to http://www.renohomevoices.com sometime next week and we should be out of beta and released to the public. It is pure 2.0 and requires no sign in.
Be ready to have a lot of patience buying both short and REO sales.
Reno realtor selling reno homes
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Here is a site to use. http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp
You can also ask your Realtor to put you on a REO drip system. The system will automatically send you new and updated listings fitting your criteria(i.e. REO, area, price range...).
Other websites charge monthly fees and etc are usually outdated info. not accurate postings
The site has links like these....http://www.countrywide.com/purchase/f_reo.asp
and gov. sites......http://www.homesales.gov/homesales/mainAction.do
You might also want to keep an eye on the IRS properties for sale......http://www.ustreas.gov/auctions/irs/index.html
All Free If you have the time it's worth the look, Dunes