Flower Mound has been one of those cities that hasn't been hit hard by that foreclosures. There are currently only 3 homes on the market that have been foreclosed. However, things change every day.
I would recommend that you don't limit your search to foreclosures only, there are a lot of homes on the market and many motivated sellers. You may get an even better deal from one of these.
I am not familiar with Sugar Land's market. I am sure other agents from that area will chime in soon.