If I was an agent dealing with foreclosures regularly I would have this quote taped on my telephone.
“There’s so much inventory out there that the buyer can pick and choose,” said Susan Sirles Fidler, a Realtor at Re/Max 10, Oak Lawn. But she cautioned, “The stuff that’s almost free is almost free because it’s going to cost you an arm and a leg to put it back together. It’s not buyer beware as much as buyer be smart.” via chicagotribune.com.
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The part about the inventory is right on but in my area they are mostly low end and beat up houses. Good for rentals but not too many owner occupants buying them.