Interest Rising in Buying Foreclosed Homes

Interest in buying a foreclosed home is rising, but 69% of consumers have reservations about such a purchase, according to a survey released by Trulia.com, a San Francisco-based real estate website. The survey, conducted by Harris Interactive, found that more than half of U.S. adults would be at least "somewhat likely" to consider buying a foreclosed home despite concerns about hidden costs (expressed by 69%), risk (35%), and home depreciation (33%). "What's striking about these findings is that while U.S. consumers recognize the purchasing opportunity presented by foreclosed homes, there are definitely some reservations about the process," said Pete Flint, co-founder and chief executive officer of Trulia. "By providing guidance from foreclosure experts combined with comprehensive information on foreclosed homes across the country, Trulia can help potential homeowners take full advantage of this market while avoiding the kind of risks that might otherwise make them hesitate." The company can be found online at http://www.trulia.com.