Only 4 mana to bring back your favorite creature and 2 elf tokens alongside it? That's good value.
And your second turn.
Not an insurmountable problem, espeically since you wont' be reanimating anything in this manner in an older format. As far as I can tell the only viable "reanimator" archetype in Standard is actually Escape and in Pioneer it will be God-Pharaoh's Gift. Foretell will be everywhere in Limited but probably won't make much impact in Standard except for a handfull of spells.
People should probably quit thinking of Foretell as "oh--I lose my second turn by tapping out and doing nothing". It isn't "nothing"; instead, think of it an an investment portfolio--you put money into it now then you get to cash it out for maximum value later on. I also see people thinking of Foretell as if "Foretell 1B" is actually 3B but that is incorrect--mana you spent on a previous turn doesn't count once you are through with that turn. That being said, I am certainly not going to belabor the issue.