If you are looking for a great deal on a foreclosure, Sedona is probably not the place to do it. There aren't very many distressed properties available, and the banks don't seem to be willing to make the good deals that they used to when there were more of them. A couple of days ago I did a search for a client, and found that in Sedona, out of 232 active listings, there were only three foreclosures and one short sale. And one of the foreclosures had recently had a $20,000 price increase, reflecting what is going on in the is market. Inventory is low, so if you're waiting for prices to go down, it will be a very long wait.