Real Estate Foreclosure Bus Tours
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.
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?
first homebuyers
Steve Scheer is licensed to practice real estate in the State of Colorado.
Have the bus tours created sales of these foreclosed homes?
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.
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Thanks for the article. Lokking for some inofrmation.Keep it coming. Will be waiting for the new ones.