Foreclosures Lead to Bus Tours

Photo from source, Dallas News

Yesterday, I went yard saling with my friend Denny, known around here as Stupid Monkey Planet. It was a gorgeous day here in Las Vegas, possibly the first good yard saling Saturday this year. Unfortunately for us, people didn't know it would be nice, and there were slim pickings for us.

We actually pondered if we'd see more sales because of all the foreclosures--or impending ones. One of the first things I did years ago, when I lost my job was to sell of a bunch of unneeded belongings; such as a cube refrigerator, boom boxes, old stereo, spare TV. I fortunately only had to sell off what I wasn't using. My limited experience of this foreclosure wave has been a little different.

Some people try to get a jump on things before they go bad by getting a second job, and cutting back on other expenses. But many live on in a sort of denial, seemingly surprised when that day finally comes. Like it couldn't really happen. I can't really blame them. I had a "head-in-the-sand" for years about my credit card debt.

Anyway, what we did find while out looking for yard sales was a whole freakin' lot of houses for sale. Sometimes several in a row. Cracker boxes, starter homes, 3,000-footers, even McMansions. Many of them were labeled "foreclosure" or "bank sale," and I suspect most of them were. It's all very sad. But of course, that misfortune has started to be turned into a business opportunities. And this is only one of several stories from around the country with bus tours. Check it out.

[Excerpt]

Foreclosure bus tour gives buyers a different view of shaky real estate market

Every Saturday morning, Ms. Langevin and several real estate colleagues load up a 22-seat bus with clients and set off on a sightseeing tour that reflects today's shaky economic times.

[snip]

"It gives you a different perception of the foreclosures," Demetria Newkirk, a Carrollton city employee, said Saturday after viewing an elegant two-story North Dallas home recently marked down from $1.1 million to $795,000.

"I wouldn't even think that kind of house would be a foreclosure," she said. . .

Read more at: Dallas News