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I've been to many foreclosure sales. In this economy, in this location, it's 99.999% a waste of time if you're looking for a good deal for pennies on the dollar. Either the owner owes more than the house is worth (over leveraged) or it has so much damage the cost to buy and fix up would be more than you could sell it for and get a decent profit. Anything that did have good 'deal' value would have been snapped up by a real estate agent/investor before it ever made it to foreclosure. However if you're looking to buy and own it yourself, with a lot of research and persistance you might be able to buy something a fraction below market, but you take the risk of buying it 'as is', which means you get anything that's wrong with the property. Luckily for you, some research is free. Just show up at a foreclosure auction and watch what happens there...
All of this is IMHO.
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