The quick answer is that the price isn't attractive to the right buyer.
Because foreclosures can be in very rough shape, the price needs to be attractive and the buyer may need to be willing and able to possibly spend $1,000's to get the home back up to snuff.
Many times with a foreclosure, the foreclosed owner has given up on the property months before the actual foreclosure takes place. They may have stopped doing any maintenance or cleaning or have even taken out their frustrations on the house (causing damage, removing fixtures, etc).
Also, the banks usually have the utilities turned off. So there is no water or heat going in. The new owner is responsible for getting these hooked back up, not to mention the damamge our cold winters can do to the interior of a house! The new owner has to be willing and able to handle these problems, usually before moving in to the home.
If you could provide me with an address or MLS number, I would be happy to find out more or to even schedule a time when you and I could go through the property to see what kind of condition it is in.
Feel free to contact me.
First Weber Group