3 Key Ways to Buy Foreclosed Properties

It's not as easy as the infomercials make it look.

A for sale sign is seen in front of a foreclosed home October15, 2007 in Antioch, California.
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Recent auctions in Southern California and Florida have disposed of hundreds of homes in a single day, at prices as much as 40 percent off what the houses previously sold for. Even then, however, "it remains to be seen how many of those people actually got a deal," broker Roberts says of home prices that continue to fall in many areas.