17 Jun 08 Bus Tours of Foreclosed Homes
If you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
As more and more homes are reportedly being foreclosed on, there has been an increasing need for banks to deplete their inventories. It appears that several real estate agents have stepped up to the plate and have begun introducing tours of foreclosed homes in their areas. Real estate agents from the east coast to the west coast have adopted some form or another of bus tours that features homes that have foreclosed.
In Massachusetts, DCU Realty charges bus riders for the privilege of viewing homes at bargain prices. The fees range between $20 for members of its affiliated Digital Federal Credit Union, and $25 dollars for nonmembers. Homes are reported as ranging between modest foreclosed homes and more upscale foreclosed homes.
In the Bay Area surrounding the Contra Costa county area of California, foreclosures have been the highest throughout the entire state. This area is also seeing one of the most frequently run tours of foreclosed homes. Foreclosure Finder Tours will bring potential buyers on a tour of foreclosures in Antioch, Byron, Pittsburg, and Brentwood. There is no charge for this service and there are reportedly four tours scheduled every weekend.
While many of these homes are in need of minor repairs, most commonly due to damaged walls and missing fixtures, they are in overall good condition. Most homes will likely end up costing the buyers a considerable amount of money to have the home returned to its original condition, so this is something that buyers should keep in mind when considering buying a foreclosure.
Tags: bank owned, California Real Estate, contra costa county, dcu realty, digital federal credit union, foreclosure, foreclosure finder tours, Homes for Sale, massachusetts real estate, reo
[...] The blog provides more information about the real estate market, news, and related topics - such as this recent post on bus tours of foreclosed homes. [...]