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Bus Tour of Local Repossessed Properties Planned
GET ON THE BUS BABY!
In light of the growing number of foreclosures in Tucson, one real estate firm is organizing a bus tour of foreclosed properties for prospective buyers.
The Pepper Group Diversified Real Estate Company is planning to launch the tour on March 1 for people who are interested in foreclosed homes and are pre-qualified for financing, said Rob Curcio, an agent who is helping to organize the tour. The company is planning to provide some help with finding possible lenders.
Prospective buyers can call 1-888-782-5211, Ext. 96.
Properties on the tour will include only those that have been repossessed by banks, not properties currently in the foreclosure process, Curcio said.
Tucson has the 46th-highest foreclosure rate among the 100 largest markets in the country, according to a list released today by the RealtyTrac data firm.
The report on 2007 foreclosure filings found that about 1 percent of households in Tucson went into some state of foreclosure in 2007. That amount was about 75 percent higher than in 2006, according to the RealtyTrac report.
The top foreclosure rate among the 100 metro areas was in Detroit, where nearly 5 percent of households were in foreclosure in 2007. Phoenix was 22nd-highest, with nearly 2 percent households entering foreclosure last year.
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