There is another home for sale on the same street for about the same price as the "market value" on the potential foreclosure. It is a "standard" or regular sale owned by a homeowner. Short sales and REO properties (bank owned) sometimes offer bargain prices, but a standard sale home is often a better choice for a potential owner occupant. A standard sale will usually has less waiting, uncertainty, and risk than a short sale or REO home.
If clean, tidy and proper goes along with your expectation of foreclosed, the plan has worked.
You may be unaware that a LARGE number of foreclosed homes are placed under contract 'sight unseeen.' These expereinced buyers are purchaasing VALUE not proper and clean. The numbers speak loudly. They rely on their real estaate professional for community targeting and assistance in ARV determination. The buyer knows their craft and from their criteria, calculates what they will invest.
You may find your best option is looking at 'flipped' homes. They will be proper, clean and tidy and can sell quickly.
Best of success to you,
Annette Lawrence, Broker/Assoicate
Remax Relatec Group
Palm Harbor, FL