We saw this on the local news a few nights ago, and we're kind of impressed that someone came up with this idea. And that someone would be the Coshow Real Estate Group in San Diego's Hillcrest neighborhood. Their brilliant scheme? The Repo Express, a bus tour that takes prospective home buyers on a tour of all the foreclosed properties in San Diego.
According to the San Diego Union-Tribune, the increase of bank-owned properties and the long list of real-estate-owned houses have caused homes in the area to be marked down by tens of thousands of dollars below the original asking price. While this does make housing in Southern California more affordable, current home owners are feeling apprehensive of the value of their own homes. Has anyone gone through the experience of buying a foreclosed property, or ventured on one of these bus tours?
If you're in San Diego and are interested in checking out the tour, go to the site repoexpresstour.com for more information.