Actually, when in comes to buying a foreclosure the better questions are "What" and "Who." After these two are answered, "when" and "how" may not matter.
Contact an agent in the area of the foreclosure for help.
A basic home for this area sells between a low end market of 50K to a high end of 150K. Based off the trend in a 10 period, they have declined. 5 year period, between 2007 and 2012, they have gone from a high in 2009 of 140K to a record low of 40K that very next year. According to the current market of that area (in response to your original question) the market is increasing at a rate of 15 to 30K every 6 months. Hope this helps.... more