Foreclosure tours have been popping up around the country and into the news, but a new one in Atlanta has an interesting twist. Instead of the real estate agent renting the bus and working to get commissions, Damon Borozny is charging for the tour.
For $49, or $65 per couple, you get get a 5 hour tour. But instead of a hard sell, you are also getting expertise on the bus. The tour includes a home inspector who discusses the condition and potential of each home after it is visited.
This is brilliant. Instead of the people on the tour feeling that they have to be worried about a real estate agent making the hard sell, they are being educated on what to look for in a foreclosure.
I bet a number of people will pay for education and the chance to see some foreclosures on the market.
A dozen people paid $49, or $65 per couple, to spend five hours Sunday checking out other people’s broken dreams and possibly find a deal.
Real estate agents have held private foreclosure tours, but last weekend’s tour may have been the first in metro Atlanta open to the public. It drew home-seekers, investors and even tax-lien purchasers.
At stop No. 5 on the seven-house expedition, the group examined a 4-year-old, two-story home on Glenvalley Drive in Decatur that looked beautiful in the dappled sunshine of a color photograph.
In March 2006 the house sold for $275,000. It sold again in May 2007 as a foreclosure, bringing $206,550. Now the lender had it back and was asking $176,900. via the ajc.com
If you do not have time to take a bus tour of foreclosures in your area but want to see what is on the market, click on this link to get a free trial on foreclosures.com and see all of the foreclosures in your area.You may find the diamond in the rough.