Foreclosure Tour Bus Now in Houston

Selling foreclosed properties have always been considered a lucrative business considering that these homes are a lot cheaper than the other houses for sale. And with the growing supply of foreclosure properties for sale in the market, many buyers are finally turning to them in order to enjoy significant savings.

Foreclosure sellers and brokers are also coming up with creative marketing strategies that are designed to attract more potential buyers. For example, there is the foreclosure tour bus that has become quite popular in states hit hardest by the housing crisis.

To the delight of interested buyers, there is also now a Houston-based foreclosure broker who has recently bought a bus for this purpose. Kevin Riles offers a guided foreclosure tour of Houston foreclosures to pre-qualified home buyers.

With an average of 1,000 homes entering some stage of foreclosure each month, it is not surprising that this real estate broker consider a foreclosure tour bus to be an effective marketing tool. Most buyers prefer to look at foreclosure homes in person rather than online especially if they have the time to do so.

Buyers of foreclosure properties are able to save as much as 25 percent from the property’s current market value and enjoy the large selection of repossessed houses for sale. If buyers are looking for more price reduction, they will have to wait for another 30 days when sellers usually lower their asking prices.

Foreclosed houses included in the tour bus route are being sold at asking prices ranging between $79,000 and $100,000. In the coming weeks, the foreclosure tour bus will be hading to the northern part of Houston, where foreclosure properties are sold from $300,000 up.

By Cassiano Travareli