newbie question - possible to find THIS good of a deal?

[Jason Schmidt]

since i no barely enough to ask intelligent questions, I'll start out tonight with this one :) ...

i goto har.com and view the properties for sale here in houston all the time.

1) is this a good place to find the best possible deals? If not, where?

2) Is it possible to find a 300k house to buy for 250k? That much instant equity would really jumpstart me into wanting to go forward!