foreclosures and short sales, best way to buy a short sale home

The plunging prices for residential homes may make buying a real estate short sale a tempting prospect right now, but if you're wise, you'll tread carefully in this turbulent market. But what's the best way to buy a short sale home right now? Should you look for foreclosures and short sales that can be had cheaply, or should you concentrate on high-end properties that are more expensive, but will be more likely to hold their value. Well, my advise is stay away from short sale foreclosure properties in lower-income neighborhoods. They're never likely to be worth much. I think you're far better off pursuing foreclosures and short sales that are available in middle and upper-income areas that have good schools, convenient shopping, and other amenities. I think that those neighborhoods are the ones that are the most likely to bounce back quickly once the economy recovers. Right now, the U.S. economy is heading into recession, but it won't always be that way. So if you're thinking about snapping up some foreclosures and short sales, then I think you should carefully consider where you're buying and allocate your resources accordingly. Stay away from really low-income areas, you'll just get burned. And who wants to be a slumlord anyway?