KOLD News 13 live, local and late breaking-Foreclosure Bus Tour

Foreclosure Bus Tour

Mark Stine KOLD News 13 Reporter

"I came out to find a deal, a house deal, not my dream home, but an investment," Stacey Hammond told KOLD.

Whether it's to live in or rent out, home buyers are looking for a good investment and foreclosed homes are at the top of their lists.

Hammond added, "Now's the time to buy, that's what I'm here for."

Stacey Hammond joined several other people on a bus tour of bank owned properties in the Tucson area.

Rob Curcio with the Pepper Group said, "There are a lot of foreclosed, bank owned homes on the market and there are a lot of buyers sitting on the sidelines with a lot of cash looking for some great deals."

The Pepper Group Diversified Real Estate Company hopes to find them those deals. They put the four hour tour together and will show the buyers 10 to 12 homes.

The homes on the tour range anywhere from $200,000 to $400,000. Some of them need fixing up, others are in good condition and ready to live in.

Curcio says getting the foreclosed homes off the market is a win for buyers and a win for the banks. "The banks can get the homes off their books which means they can re-lend the money which is great for our economy here in Tucson."

"This is probably the only way to go." Jane Mack is from Vail, Colorado, but hopes to move to Tucson in the near future with her husband. They're just starting their search for a new home.

"It's very very interesting, extremely informative, a great way to begin looking at properties in Tucson," Mack told KOLD.

While looking through the empty homes it's hard to forget families lost these properties to the bank for various reasons.

Mack replied, "You can't look at how the home is on the market, you have to look at it as, it's a future thing for me, not what's happened here."

So as the buyers continue their search and find the best deals, they just hope the banks will bite on their bids.

If you would like to find out more about the Foreclosure Bus Tours just call 1-888-782-5211 ext. 96.