Here’s an interesting new site: SmartZip.
They have a simple scoring system for determining which homes in foreclosure markets are good buys. Their ratings are based on their own proprietary scale:
The SmartZip Score is a rating based on a quantitative evaluation of a property’s return on investment over a 10-year holding period, which investors and homeowners can use to assess and confirm purchase decisions.
SmartZip Score considers hundreds of macro and micro market attributes spanning economic, market, housing, government, community, demographic and lifestyle data. Both historical trends and predictive models are used. And we examine each property across geographic spheres of influence – national, state, metro, county, city, tract – all the way down to the neighborhood and property levels.
For more info, see the FAQ here.