Buying a foreclosed house ? It’s not so easy

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Most homes now sold in many parts of Southern California are foreclosures. Prices may be low, but finding a decent house amid the wreckage can be tough, reports Peter Hong in today’s Times. He bought a foreclosed house last month, and earlier this year wrote about his decision to bail out of the housing market in 2005.

Any tales of foreclosure shopping adventures, or thoughts on this market segment, LA Land readers ?