Once a home has been foreclosed the bank will either bundle it with other homes and sell in bulk to an investor, sell at an auction, or give to a realtor to put on the mls and sell to the public. Homes that have not been formally foreclosed on are not for sale unless they are being sold as a short sale. MOst of the homes in this area that are foreclosed will be on the MLS listed by a local realtor and can be seen by asking your agent to take you to see it. There are actually very few homes that have the foreclosure process completed in this area. Most homes that show up on sites like realty trac are in the foreclosure process and the owners can try to modify the loan, sell as a short sale, or seek the protection of the bankrupcy courts before going into foreclosure. If the bank does foreclose and list it on the MLS there are some very complicated procedures needed to purchase it and it is a good idea to use an experienced REO realtor to help you purchase.