Real Estate Foreclosure Bus Tours

Posted on Apr 08 in Home Buyer Resource
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In the Cleveland area is a new trend in real estate marketing, Cleveland foreclosure bus tour. A real estate
agent books a tour bus and charges $15 per person for home buyers to go to three different suburbs with homes that have been foreclosed.

In Phoenix, AZ, which has been hit hard by the mortgage crisis, has Phoenix foreclosure Bus Tours that brought together real estate agents, mortgage brokers, and rehab specialists with potential home buyers and investors to try to get the foreclosed homes purchased.

Are these bus tours a good idea? In some ways, the tours can be a good idea since it may help move foreclosed homes off of the market faster. The real question is, are these tours taking potential buyers
away from the rest of the inventory in the city? In relatively price-stable Cincinnati there are areas with more foreclosures, and the regularly listed inventory in those areas may be suffering more.

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Comments

  1. cinplify.com

    Apr 9th, 2008

    Real Estate Foreclosure Bus Tours – Cincinnati Living Online

    Cleveland now has a Foreclosure Bus tour – is Cincinnati next and is it good for our community?

  2. first homebuyers

    Apr 19th, 2008

    first homebuyers

    Steve Scheer is licensed to practice real estate in the State of Colorado.

  3. Tom Keyes (1 comments.)

    May 13th, 2008

    Have the bus tours created sales of these foreclosed homes?

  4. Alison Moss

    May 14th, 2008

    Tom I am not sure. From an economic standpoint I have to assume so. Renting a buss for a day is not an inexpensive proposition, regardless of how much the tour tickets subsidies the overhead. Even a few sales would be a success if the costs are being covered. More importantly the tours are attracting buyers to the agency. Even if they decide to buy a house on the retail market they have built a relationship with the agency doing the bus tour and may choose to use them.

  5. Gabi

    Jun 3rd, 2008

    Google…

    Google+home+site…

  6. Charlotte buyer agent (1 comments.)

    Dec 9th, 2008

    Thanks for the article. Lokking for some inofrmation.Keep it coming. Will be waiting for the new ones.

  7. john beck property vault (1 comments.)

    Jan 14th, 2009

    Real Estate business is really very hard. Searching new lands is really an exhausting timestaking work. It becomes really fruitful after the search has gained great results and even better when that property gets sold at a very good price. There are people that work on selling real estates as a part-time business.

  8. how to buy foreclosed forms

    Apr 10th, 2009

    how to buy foreclosed forms…

    It happened to us! We were never delinquent, ever! But, the originator of the loan, scummy Lehman Brothers and their piggy servicing company, Aurora Loan Services committed mortgage fraud; i. e., they forged loan documents after closing changing our lo…

  9. Real Estate Taxi (110 comments.)

    Jun 30th, 2009

    That’s an interesting way for an agent to get business. I am sure that leads most of the tourist buying a home with that agent.