The Hot New Thing Nationwide: Foreclosure Bus Tours!

[El Pinko]

http://www.palmbeachpost.com/business/content/business/epaper/2008/02/18/m1bz_samplescol_0218.html

Foreclosure bus tours driving into South Florida
By Linda Rawls
Palm Beach Post Staff Writer

Monday, February 18, 2008

The bus tours that have motored across foreclosure-littered neighborhoods of California, Nevada and other slumping states are pulling into the Treasure Coast and Palm Beach County.

Two local real estate firms in Port St. Lucie and Tequesta are planning their first tours of bank-owned properties Saturday.

Port St. Lucie-based Realty Unlimited Inc. GMAC Real Estate is renting a 47-seat coach, dubbed the "Foreclosure Express," to visit 10 to 12 homes on a four-hour tour. With hordes of bank-owned or pre-foreclosure homes to check out, it will offer free tours monthly, of different neighborhoods in St. Lucie and Martin counties.

"We have so many investors that we're working with, and they're constantly approaching us about these foreclosure or these pre-foreclosure opportunities," said owner Selma Schevers, who decided a bus tour would be the best way to get buyers and experts in one place.






Personally, I'd wait a while. Prices still have quite a ways to fall yet. Even foreclosures will be quite a bit cheaper in a year or two.

[MikeNearMcChord]

1. I think what is going to happen and I saw it on another thread

is the invasion of abandoned homes by squatters.