May
Foreclosure Bus Tours
Happened to run across an article which was pretty much promoting a foreclosure bus tour in Illinois. Maybe it’s just me, but I find the concept sort of repulsive. The tour is, of course, promoted by a real estate company and is touted as providing “first time home buyers and investors the best deals in the current market”. Yeah, right. My take is the tours are designed to trap the prospects in a bus for the 4 hours or more that it will require to view the six foreclosed and one “short sale” home scheduled for the tour. I don’t really think it’s going to be about education, it’s a way to try to build rapport and push the sales pitch.
Then what about the neighbors who get to have the “Foreclosure Bus” pull up and stop in their neighborhood while the prospects traipse through the property. Certainly not something I want happening where I live.
Tomorrow, we’re supposed to get a counter offer back on a short sale that we drove to in our own car, met our Realtor and the listing agent, then spent about an hour looking at the property without anyone pressuring us for time or babbling in our ears. We’ll also do an exterior inspection on a listed vacant REO that we need to get an idea of how the house sits on the lot. Don’t need a Realtor for that, but if we like the property, we’ll then schedule an interior inspection. That’s how you look at properties, not in a tour bus.
Hey,Wonderful article…..First and fore most thing we have to do is to stop the Foreclosure.By doing this many problems will solve.We have to follow the best idea to do this……
May 20th, 2008 at 12:11 amHey, this is a great marketing event and should be applauded. Theres nothing wrong woth this and is capitalism at its finest. there is OPPORTUNITY in crisis. instead of being negative with the media on the housing market, people are DOING something to prevent themselves into falling into the false mindset of a poor economy! you will never be anything better than average in finances, never go getter, never be a entrepreneur. be someone, do something.
June 11th, 2008 at 8:00 amJohn,
C’mon. “Great marketing event” and “capitalism at it’s finest”? While I realize Realtors like to stay upbeat and positive, there is a line where positive can become delusional. The point of the post was that buyers do not need a “foreclosure bus” to be able to view, analyze and purchase property, whether it’s REO or non-distressed. I thought that was rather obvious from the last paragraph.
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August 19th, 2008 at 11:50 pm