Paid Foreclosure Tour Starts In Atlanta
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.
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There are Florida homes still viable and definitely worth looking at.
Check out mine in St. Petersburg.
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Even though I don't like the fact that the bill passed, I'm not sure that there was a better option? 
Pingback by Hitting the Links | Redfin Boston Sweet Digs on 20 May 2008:
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Comment by Kathy Drewien on 21 May 2008:
Thanks, Tom, for the heads up on this creative idea! I wasn’t clear if the tour was open to several couples, or just one or two. Do you know?
Comment by Tom on 22 May 2008:
I am assuming it was multiple couples and people.
The more I think about it, charge enough that it brings out those that are serious and then provide experts to really teach the ins and outs of purchasing homes.
It probably could be used for first time home buyers.
Comment by Dan on 23 May 2008:
check out a website on my new list, http://dhalterm.googlepages.com/realestatelists
there will be many deals to be had; a tour is a great idea, but you CAN take a tour online at some of these sites. Just punch in a zip code and see what’s in the area; some even have maps to show locations graphically.
Comment by Shayla Calhoun on 8 June 2008:
The foreclosure tours are definitely popping up in every region of Atlanta! Our tour was featured on WSBTV channel 2 on June 7th 2008. Please visit touratlantaforeclosures.com for the next tour date. The tour is $25 per person and 40 per couple and complimentary for purchasers who are prequalified. Buyers are not only exposed to bank owned properties but are provided literature concerning what to expect in their foreclosure purchase process.
Keller Williams Realty
678-362-5698
Comment by Bobby Wood on 16 June 2008:
Why pay for a tour when you can come on a free one that educates buyers as well. http://www.househunterstour.com