Bill Dwyer, a Medford Oregon realtor wants to show you the latest foreclosed homes in the Rogue Valley. In California, they are calling them "Repo Tours", but Bill chose a softer name, "The Tour of Hot Deals". On specified weekends he fills up a tour bus with prospective buyers or "repo tourists", feeds them lunch and shows them several homes with loans that are priced below market value. The tour lasts several hours.
He says there is no pressure. "We want everybody to kick back and have a good time."
It is becoming a growing trend as the real estate market has plummeted. On one hand foreclosures and the downward drag on real estate prices is bringing affordability back into the housing market, but the other side of that coin are the people losing their homes due to job losses, and a repressed economy.
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