Interested in Los Angeles Bank Foreclosures? Join a Tour!

by Donald Hanz on cities

With the many available Los Angeles bank foreclosures in the market, potential buyers will have to make an effort to check out these many properties before making a choice. Coincidentally, a local real estate broker has launched its very own tour of Los Angeles foreclosures for sale so that buyers can experience a different kind of property-hunting.

The Repo Home Tour is operated by LTV Properties Inc, which is based in Pasadena. The company considered this marketing strategy worthwhile especially since home sales in the state has been quite slow.

Potential buyers are taken to these Los Angeles foreclosure homes so that they could see them in person. Of course, one can expect that some of these properties feature flaking exteriors and dying landscapes. To make up for it, the banks sell these foreclosures with 40 to 60 percent discounts.

The said real estate company got this marketing strategy from a segment seen in “60 Minutes”. Another real estate broker developed the idea considering the hundreds of foreclosed properties in Central Valley. The said broker started franchising the Repo Home Tours at $20,000 per franchise. Today, there are franchisees located in Santa Ana, Las Vegas, San Diego, Florida and Texas.

LTV believes that their primarily objective is to motivate buyers into making a purchase by making them see the wonderful opportunities that these Los Angeles bank foreclosures are offering.

If you happen to be interested in these foreclosure properties in Los Angeles as well, you can check out this tour. On the other hand, if you are simply to busy with work and family, there are always reliable foreclosure listings you can trust such as Bank Foreclosures Sale. You can also find a good selection of foreclosed properties that you can choose from conveniently. You could even come up with a shortlist almost immediately!