Hattip to Ben's Housing Bubble Blog:
"On a sunny Saturday morning, 25 people from the area boarded a bus chartered by an enterprising real estate company for a first-in-the-region-tour providing a sampling of the estimated tens of thousands of foreclosed houses in the region."Opportunity," I've noticed, is the ubiquitous buzzword on foreclosure listings.
'You guys have a great opportunity today. There's not a lot of people doing this,' mortgage attorney Art Grace told the 25 house hunters on the bus. 'And I would say the general public doesn't know a whole lot about the great opportunity out there.'
. . .
The tour visited nine foreclosed properties in the Gainesville and Haymarket areas in under three hours. They included townhomes and stand-alone homes, ranging from $200,000 to $600,000. One home was only two years old; another was marked down by $200,000.
There were 28,455 foreclosure filing in the Washington/Arlington/Alexandria metro area in 2007, ranking it 41 in the list of the top 100 largest U.S. cities surveyed by RealtyTrac".