All aboard: Foreclosure bus tours in the Inland Empire

News item: Foreclosure bus tours, already a media favorite in other parts of the country, are coming to the Inland Empire.

From Robert Espinoza at Repobustour.com: "The Inland Empire RepoBusTour launches its next tour this Saturday, April 5th ... and will tour every Saturday thereafter."

More: "The 'no-charge' tour bus seats about twenty people and tours about 10 local 'bank-owned' properties starting at $199,000."

Espinoza, a real estate agent based in Rancho Cucamonga, stages the free tours as a way to meet prospective buyers interested in buying foreclosed houses. "I really feel that  this is creating an opportunity for families that were priced  out over the past seven years," Espinoza said.

I will not be on the bus this Saturday touring Rancho Cucamonga, North Fontana, Corona Valley and surrounding areas, but I'm guessing a few media outlets will be there.  This kind of story is like catnip to assignment editors.

Your thoughts? Comments? Email story tips to peter.viles@latimes.com.
Photo Credit: RepoBusTour.com.

Comments

[John]

Starting at $199k?

Get real. Somebody should do a bus tour of foreclosed homes for less than $99k. I bet there will be plenty in the inland empire.

[churchill]

This is a sign of the times! There is no shame to have your house foreclosed upon!

[E]

Catnip to editors?

Wouldn't it be funny if the majority of the people on the bus were reporters?

If I were down in L.A. right now I'd be taking some of those tours just for fun.

Can I bring booze on board?

[John]

http://tinyurl.com/37c2ng

Above, the more than 60 properties for sale between $20k and $100k in the Inland Empire.

Why the Foreclosure bus chose to start at $199k minimum is completely beyond me.

Maybe I need to get my realtor's license and do my own tours.

[Jarobie Anderson]

You know something this is not a joke do you think the people with out a home are smiling like those people in front of that bus.
http://www.blacknews4us.com/

[Hulagirl]

I'm reminded of the "disaster" tours of the devastated areas of New Orleans.

Hurricane season is upon us -Hurricane Bush, a category 5 storm originating from Crawford, Texas will wipe out the American economy. Itwil take years to rebuild,

You're doing a heckuva job, Georgie..

[tarbubble]

ha, those cheapo homes John linked to above are very amusing - particularly the $80k dollhouse (really, it's less than 300 square feet) in Lytle Creek. The San Bernardino cheapie comes with pre-installed bulletholes.

[peter m]

Save the idiotic disneyland IE trolly bus tour ride and go on the virtual tour right here.

No home in the IE is worth more than $300,000. I don't care if it is the grandest palatial 6 bedrom 4 bth mansion in a plush exclusive hillside. The IE is a Re meltdown zone . Anyone paying more than $300,000 needs a lobotomy. U can get a decent large REO fixer in decent IE hoods close to LA for around $200,000. Lake Elsiniore is a crapzone but great deals for under $200,000 there and 1.5 hrs to OC . Entire Corona Valley way overbuilt in new homes and deals for under $200,000 will open up by end of 2008. Brand new REO fixers .
Extreme North fontana N, of 210, an area of virtually brand new developments, should fetch for around $200,000 max if u do your homework.
RC has some decent developments but tons of foreclosures: do the homework online & legwork and U can find a deal for under $300,000.
Corona area in general extremely distressed in fore closures and by end of year a decent REO should be around $200,000.
Norco way overdeveloped with cheap crappy standard cookee -cutter new homes and prices should be no more than $250,000. Plus area is quite dismal, hot nasty & smoggy 8 months of year. That is the entire IE weather pattern BTW.
Rialto, most of fontana, San berdoo Metro, much of riverside metro, colton, parts of redlands, most of Ontario & Chino, are simply wasted ragged decrepit IE mixed-use pitzones, with polluting industries, roaring truck traffic and ecology- destroying truck & warehouse facilities, lots of illegals and gangs, Nasty yellowish 100% sweltering heat in summer, ragged upturned trashed- out rural lots and crackerhomes, ect.
Simple rule of thumb: avoid buying in area bounded by the 15, 10, 215 and 91 fwys. This is the inner IE 'wasted' zone, though not exclusive as much of rest of IE has similar environmental/urban/ population nightmare scenarios such as described.

The high desert victor valley-nothing worth more than $100,000 tops.

[Bob P.]

As an educator and former engineer, I think the Repo Bus Tour is a great idea, and well over due. This will give those who perhaps could not have been able to purchase a home in the previous real estate market, an opportunity to do so now.
In response to John's comments, it is apparent that they were made without much research or thought. And I'm sure that if he was forced to support his comments with data, that he would not be able too.
John, my recommendations to you is to either backup your ludicrous statements or stay away from commenting.
If John's statement of more than 60 available homes for under $99,000 in the Inland Empire were factual, one can only presume the condition of the home and area in which they are located.
Would John move his family into an area that would prove unsafe for them, I don't think so, but if he did, it would only show his foolishness and lack of care for his families safety.

[enlightenment]

Just a Bear Ralley...
http://www.irvinehousingblog.com/wp-content/
uploads/2008/03/psychological-stages-of-a-bubble.jpg

[IToldu2CashOut]

There is not enough money in the bailout to save the IE if it was to get the entire treasure trove to itself.

[John]

"John, my recommendations to you is to either backup your ludicrous statements or stay away from commenting."

Thanks for the advice Bob P. I did in fact back up my advice with a tinyurl hyperlink to Realtor.com supporting my "ludicrous" statements, but you clearly missed it. Scroll back to my earlier comment and see for yourself.

Here it is again - http://tinyurl.com/37c2ng . It's a safe link, it redirects to the Realtor.com search I used so you can see those homes for yourself.

"And I'm sure that if he was forced to support his comments with data, that he would not be able too."

That's where you're wrong, sport. Click on the link (http://tinyurl.com/37c2ng) and see the 67 or so listings (the numbers seem to be changing, it was 65 earlier). I hope your combination of ignorance and scorn as an educator didn't scar too many young minds too badly.

Also, I made no claims as to the safety of the neighborhoods, or my own intent to move there. I was only stating that there is a market for home tours for homes under $100k in the Inland Empire that is not currently being addressed.

Why so much hate for the cheap homes? There are some great deals out there for those with some foresight that are willing to do their homework, and there are going to be more to come as the Great SoCal Real Estate Sale of 2008-2011 really gets underway.

Woohoo!

[Santa Barbara Real Estate Voice]

Crazy and unfortuante...but is is a reality of what has been happening. We are a little sheltered from this in the Montecito and Santa Barbara CA areas.

[E]

Way to go John!

Lord knows what kind of "Educator" Bob P. is but I fear for the youth of our country with people like him at the helm.

Maybe he's an educator at Barbizon.

[E]

And to those that don't think this should be made light of.

Whatever.

None of this would have happened if those miscreants buying homes had paid a little better attention in school. Especially basic math.

Greed and stupidity....but everybody loves a good ponzi scheme...right?

[Moe Bedard]

Great. The same creeps that sold these over priced homes and help caused the housing crisis are now touring the home for which they sold, to sell them again to "sukers"

Anyone who buys right now is a sucker, who is a first time homeo buyer, who knows no better and is influenced into buying by agents with an agenda, TO MAKE MONEY.

Hell, they have to think of something to pay for their Sushi/Martini lunches. I know REO's and Tours!

Realtors are lame with their stupid Realtor Pins and fake grins.........

All Aboard and has they walk buy, they pin a "SUCKER" sign on their backs.