Hop on: Foreclosure Bus Tours
Sports Illustrated has a feature — or, maybe they stopped running it (dunno, since I haven’t picked up the magazine in a while) — named something like, “This Week’s Sign That Apocalypse is Upon Us,” which deals with some bizzaro incident (usually sports-related) that defies comprehension.
Here’s one for real estate: foreclosure bus tours. I understand that someone’s loss is someone’s gain, but to pack a bus with a bunch of people on the hunt for foreclosed properties just seems a bit, uh, vulture-like. Here’s the Foreclosure Bus Tours’ description:
“We know that buying foreclosures can be risky and can make buyers a little uneasy, so how beneficial would it be to have a team of real estate professionals, foreclosure specialists, and rehab experts right there by your side to help you every step of the way? This is what Foreclosure Bus Tours is all about. We take the pain out of finding and fixing your foreclosure deals.”
I can’t imagine rumbling down the street on a bus with a bunch or foreclosure experts, driving past “stable houses” and then a foreclosure is looming up ahead, on the right. Oooh, ahhh. So, is this the best time to hop on a bus and get a foreclosed home for dirt cheap? According to the Housing Time Bomb, the bottom hasn’t fallen out yet since “…banks have only marked them down 10-25%.” When is the right time to hop the bus? HTB says 2009-2010… by that time, everyone will be aboard, wanting that one crazy deal.
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