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Yes, there are some great foundations out there. But not matter how pricey or finely milled they are, it's very difficult to avoid looking like you're wearing a mask.
Personally, my skin is what I call a transparent white, but it's one redeeming quality is its freckles. I love 'em and they make me unique. Wearing a layer of foundation just covers them up, rather than enhancing their cuteness.
Recently, I've started to skip foundation all together and just use concealer where I need it--making sure to blend thoroughly. For me, that includes the whole eye area [quick tip: concealer on your eyelid forces eye shadow to stick and last throughout the day], and anywhere that looks a bit red or is broken out. Dot it on then, I cannot stress this enough, blend blend, blend!
The result is a look that is both natural and flawless. My fave concealer is TruConceal foundation by CoverGirl. They offer a lot of color options for fair skin tones (like mine!) and the tubes are relatively cheap; $6.69 on drugstore.com.