Forbes magazine says the best values are in towns with a strong economy, a reasonable foreclosure rate and relatively stable home prices.

Banks might be selling lots of heavily discounted homes in Las Vegas, Tampa or Detroit. But as Forbes puts it, "Cheap foreclosures in flimsy markets don't necessarily make strong investments."

In Forbes' opinion, you're better off putting our 9 smart moves for buying a foreclosure to work in these cities:

1. Charlotte, N.C. With a foreclosure rate of 1.44%, a foreclosed home can save you an impressive $56,874 off the median home price of $147,299.

2. Raleigh, N.C. With a 0.98% foreclosure rate, buying a foreclosed property saves $35,726 off the median home price of $192,474.

3. Nashville, Tenn. Nashville's 0.86% foreclosure rate means a foreclosed home can save you an astonishing $42,145 off the $139,587 median home price.

4. Oklahoma City, Okla. With a 0.8% foreclosure rate, nabbing a repossessed home shaves $34,099 off the median home price.

5. San Antonio, Texas. The median home price is $143,545 and the foreclosure rate is 1.06%. Foreclosed properties net buyers a $9,370 savings.

6. Albuquerque, N.M. Buyers can save $13,210 with a foreclosed home in this Southwest city with a foreclosure rate of 0.65% and $185,289 median home price.

7. Knoxville, Tenn. Knoxville's median home price is $125,150; buy a foreclosed home -- part of the 0.6% foreclosure rate -- and you'll save $30,696.

8. Seattle, Wash. The relatively low 0.47% foreclosure rate can save you $46,103 where the median home price is $372,295.

9. Indianapolis, Ind. Indianapolis' median home price is $112,109; its foreclosure rate is 2.01%. A foreclosed property offers savings of $6,695.

10. Washington-Arlington-Alexandria, Va. With a 1.16% foreclosure rate and median home price of $366,583, foreclosed homes save $56,858.

Whether you're buying a home or refinancing an existing mortgage, we have a mortgage calculator that can help you make the right decisions.