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And to Your Right, You'll See Another Foreclosure...
Bus tours take prospectors, and the merely curious, through ruins of mortgage crisi
By Evann Gastaldo
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Posted Mar 28, 08 7:29 PM CDT
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(Newser)
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Looking for cheap real estate? Hop on a foreclosure bus tour, a trend sweeping the nation in the wake of the mortgage crisis, the AP reports. The excursions typically include experts who educate buyers while showing empty homes: some bargain beauties, some fixer-uppers. "We're kind of a seminar on a bus," says one California real-estate agent.
Such junkets abound in Florida and California, states hit hardest by foreclosures, and opportunists are taking note in many other areas. "I thought it would be nice to have a look at some American houses all at once, see how the market works," said a British trucker, along on a Florida tour with his wife.