Investors avoid buying foreclosed homes

Banks and other creditors have said that lots of investors are interested in buying large numbers of foreclosed homes, but few if any large bulk sales have been completed so far because of the cost and difficulty of managing lots of homes spread across a large area. Barclays Capital estimates that there are 811,000 bank-owned homes in the U.S., up from 129,000 two years ago, and predicts that the total will rise 60 percent by late next year.