Location, location, location.
We're all heard that song before, haven't we?

So the question becomes, how DO you choose the right neighborhood when looking for a new home? Sometimes the choice is made for you - Grandma lives in Lancaster, the wife wants to be near Mom, and Lancaster it is for the family. Or a job opportunity takes you to Chicago, in which case your options are still many - as long as they're within 40 miles of downtown.

Sometimes though, the options are wide open.

It could be that you're relocating, and no specific destination has claimed you yet. Or it could be that you're contemplating buying an investment property, and anywhere in the US will work for you as long as it fits your financial objectives.

In the latter cases, how do you go about finding the right area?

Stay current
Sometimes following the news is quite helpful. A recent CNBC.com article actually listed the cities with the best foreclosure bargains.

Pittsburgh, PA shows the largest discounts, with the median price for a home at $123,000 but median price for a foreclosed home at $35,000 - a discount of 59%. Cincinnati, OH has a median home price of $141,000, but foreclosed homes in that city have a median price of $65,000 - that's 39% lower.

Some other great cities, according to CNBC.com and Zillow.com, are Columbus OH, Minneapolis-St.Paul, Phoenix, AZ, Denver CO, Los Angeles and Riverside in California, Kansas MO and San Francisco, CA.

But there are other ways to find the great neighborhoods. By performing searches on HUDforeclosed in areas that have attracted your attention you can uncover neighborhoods that have amazing bargains.

Work with a Buyer's Agent
For each listing on HUDforeclosed we list several Buyer's Agents ready to assist you with the purchase of that home - or homes like it. Buyer's agents get paid by the seller, not the buyer. This means you don't have to pay a dime when tapping into this resource.

A buyer's agent local to the market you're exploring can bring you additional photos of a home - even the inside of the home, can let you know about the current condition of the neighborhood, and other local facts that may influence your decision.

Know your strategy
Ultimately, the key thing influencing your decision will be your long-term strategy. Are you looking for a rental property? Are you looking to buy and flip? Or will your family live in the property for years to come?

Depending on your answer, you'll pick a property in an area that offers best profit potential or an area that is most kid-friendly and family-friendly, with best schools and playgrounds.

Regardless of the type of home you're looking for or your reason for buying, you're sure to find a home that meets your needs by searching HUDforeclosed.com.