Thoughts on Palm Bay, FL?

[Mark Vieira]

It looks like foreclosures coming to market are ticking up in some of the judicial states. Palm Bay, FL appears to have alot of REO's for decent prices. I know it is on the "Space Coast" and the local economy isn't the best, but are there enough jobs and renters to make this area a decent buy and hold for cash flow and appreciation?

On a more broad note what do you make of the increase in foreclosures coming to market in certain areas/states? A last gasp of REO's or the start of a larger wave?