Foreclosure Bus Tour Gilbert Arizona
We held our first foreclosure bus tour yesterday. The bus holds about 46 and we had 2 cars following. The tour consisted of 10 REO (Bank or Lender owned) properties located in Gilbert, AZ. On the bus, we had representatives to answer questions about financing and home inspections. Breakfast snacks were provided before leaving at 10 AM and a light lunch was waiting for us on the return to the office. The idea for the tour came from an piece that 60 Minutes had done a few months ago.
The homes on the tour varied in price, size and condition. As with most foreclosures, some of these homes were not in the best of condition. Since foreclosures are generally sold "as is", condition is an important factor. A couple of the homes only required cosmetic repairs, while others would need extensive repairs. One home, which I called "Smoke and Mirrors" from a previous showing, smelled of cigarette smoke and had damaged floor to ceiling mirrors in the dining room that need replacing. The home also suffered from mold and water damage from an obvious roof leak. There were some good buys on the tour for buyers willing to put the time and money to bring these homes back to their original condition.
Foreclosures account for just 6% of the market here in Gilbert, Arizona. Today, there are 2593 Gilbert homes listed on ARMLS (Arizona Regional Multiple Listing Service) only 158 of them are lender owned properties.
If you would be interested in attending our next tour or would like to have me give you a personal tour of available foreclosures please call me or click here and fill out the Foreclosure Tour form.