read it for yourself:  http://atlanta.bizjournals.com/atlanta/stories/2009/12/14/daily37.html

Fewer potential homebuyers are willing to purchase homes that have been foreclosed upon – 43 percent, down from 55 percent six months ago – according to a new survey conducted on behalf of Trulia.com and RealtyTrac.

The biggest factors keeping potential homebuyers away from foreclosures were hidden costs (69 percent), followed by concern that the process is risky (48 percent) and fears that the home will continue to lose value (35 percent.

“It is somewhat surprising that consumers cite hidden costs as the biggest negative aspect to buying a foreclosed home because most bank-owned foreclosure sales include the same title protections and other safeguards that are in place for non-foreclosure sales,” said Rick Sharga, senior vice president of RealtyTrac, in a news release.

However, the survey also found that there is strong interest by certain segments, including real estate investors, current homeowners looking to trade up to a larger property and renters.

The survey found about a quarter of U.S. adults were at least somewhat likely to purchase a second home or investment property and of those, nearly 92 percent said they were at least somewhat likely to buy a foreclosure property.

When it comes to trading up, 24 percent of homeowners said they were at least somewhat likely to purchase a larger home and of those 88 percent were at least somewhat likely to consider a foreclosure.

In the meantime, 57 percent of renters said they would be somewhat likely to purchase a distressed property.

Of those willing to take a chance on a foreclosure, most said they were looking for a good deal.

Nearly two-thirds said they expected a discount of 30 percent or more.

Homebuyers also seem more willing to invest in fixer-uppers, with 95 percent saying they would make renovations. More than half of the respondents said they would be willing to spend 20 percent or more of the purchase price to make improvements.

Those looking to purchase a foreclosure in Georgia have ample opportunity. Last week, RealtyTrac reported that Georgia had the nation’s 12th highest foreclosure rate in November.