Foreclosure Limo Tours..
Sub-prime mortgages, that is, loans to homeowners with less-than-sterling credit rating, helped boost US homeownership to a record 69 percent of households. However, sub-prime lenders foreclose on properties much more frequently than do conventional lenders, due to borrowers defaulting on their loans.
Limos are hired for all occasions; happy events, such as weddings and sad events, such as funerals. The sub-prime crisis has produced a mixture of sad and happy events. For borrowers who have defaulted on their loans, and are about to lose their homes, it is obviously a sad event. For buyers, the forced foreclosure sale of these properties presents a chance to buy real estate at a bargain basement price – a happy event.
In order to showcase more properties in the current US property market, realtors have seized on the idea of taking groups around to several locations in a luxury hired limo. First-time homebuyers and investors are the target audience for a morning that starts off with coffee, pastries and a brief seminar on the market with a lender and title company repetitive. It is hoped that a tour in a super-stretch limousine of bank-foreclosed properties will help to smooth out what has been a bumpy real-estate market ride in recent months
Several US real estate businesses are offering the tours. The realtors claim that the tour is a chance for prospective buyers to get educated about foreclosed properties, see a few examples in the course of a Saturday morning, and have a fun experience, while taking care of business. It is thought that by taking a different approach in a different market and trying to make it light, fun and festive, the prevalent focus on the gloom and doom will disappear.
If you want to go shopping or go on a property search in your own area and are thinking about hiring a limo, contact Hire Limos.