It should also be mentioned that you should just pester your board to improve the youth facilities until they are world class.
Beats looking for quality regens if they appear right in your backyard.
Also, mega-scouting is key.
I usually have as many scouts as my board allows, a decent one to do the usual "scout next opposition" etc stuff, and my star scout on call, and the rest are ALL out there scouting a region.
I generally set it to either youth teams in "big" countries, or set an age limit in others.
Whenever I find someone that shows promise I get my star scout to give me a proper report on them.
Sure, the "sort by value" works mostly, BUT:
they are usually at big clubs, whih means a lot of that value comes from the club reputation, not necessarily the player himself, and they can be really pricey. If I scout Oceania, Asia or Africa, the yield might not be as great, but I do tend to find quite a few quality players that can literally be bought for wet handshake...