Are there any deals left for home buyer?

I mean really, are there any deals left for us home buyers. If you don't act quickly, you can find yourself missing out a really good option. Foreclosures, short sales, auctions, etc. Which are the best options?

We have looked at all of the above in our quest to find our "dream home" and yet still do not have a clue which option is better. Honestly, I believe there is hestitancy by the banks to even list these homes in "as-is" condition anymore. As they hope to get more along the lines of what they original loaned the previous owners or at least get current market price. 

While a year ago, and I mean a year ago, when we were just "thinking" about buying a home you could find great properties at below market costs in really great areas. According to a recent article I read in  the  Real Estate Economy Watch, more and more banks are trying to recoup as much money as possible. They are ok with keeping a house a bit longer for a better return on investment. Some are going as far as not listing a house for 6-8 months, hoping to  list when the market is at peak for the area. 

We recently viewed a home that had new carpet, freshly painted walls, and a stove. This is not typical in a foreclosure, or auction. Especially the ones listed by a bank. We were stunned. While on one hand it was nice to know we could move right in without having to do much work, on the other hand it seemed the work was minimal and did not warrant the extra $50k on the listing price compared to some of the other foreclosures listed in the last 9-12 months. 

Then you have the short sales, I have heard nightmares about folks being in limbo on a short sale deal for up to 9 months and then only find out the bank won't take their offer. Ouch! That is a long time to be in limbo. I mean 9 months. That is a typical time for a pregnancy. Really??? I guess if it is "the" house then it is "the" house, so you have to wait. We are way to impatient for that process. 

And then finally, the auction. Some of these do not even allow you to view the home. You have to a do a lot of research work for these properties. We were interested in one but the idea of not getting the home was pretty overwhelming. We went by the house, looked in the windows. Searched on-line to see if there were any interior pics. Used Zillow and Trulia to view the property history. And still felt like we did not know enough to place a bid. I mean the starting bid price was great but who knows what the final  sales price will be. And will it be within our budget? Or will we tap out early?  So many unknown variables. 

So really, what is better - a traditional home purchase or trying to find a bargain? And do any bargains exist?