Magical Misery Tour
The Zuckers are taking clients on tours of bargain homes in Las Vegas. What do you think of the Zuckers' strategy to beat the housing market in Las Vegas?
From vic Lontoc, Toronto, Ontario Brilliant! I'd like to get in one of those tours if I go to Las Vegas. There is nothing cynical about this – it's just brilliant!
From Anonymous It's a very innovative and clever idea. Two points: 1) They may never, and most likely will never see the 3% commission mentioned in your article as banks/mortgage companies are not usually paying that amount, so their profit margin may not be quite what they expect and 2) As foreclosures are many times in very poor condition and buyers may not end up purchasing one, it is a great way to get buyers as clients and sell them a non-foreclosure home if they don't like the foreclosures, so it's a great way to get buyers.
From Lea Lagueux, Tampa, FL Kudos to the Zuckers for finding a way to make their business thrive and to contribute to the solution of Nevada's foreclosure problem. The sooner we get these homes off the market the sooner real estate will normalize and become a healthy economic sector again. Isn't that the best thing for everyone?
From Mar Great idea! Not sure why anyone would give them dirty looks – do they think it's better to have empty, foreclosed homes on their block????
Am I the only one who watches episodes of HGTV's House Hunters from 2-3 years ago and wonder how many of the families that bought homes in the higher ($500,000 and up) price ranges still own those homes and how many are in foreclosure because they bought too much house at too high a price in too hot a market?
From Cindy, Lancaster, CA The Zuckers are doing what many of us Americans should be doing when the going gets tough – be creative. Don't just lay down and let a situation kick you, think outside the box and your "luck" will change.
From Anonymous I have a feeling foreclosure buses will outnumber tour and commuter buses.
From Rebekah, Las Vegas, NV The idea and execution is brilliant. A local paper did an article on the Zuckers and stated that they get dirty looks from the neighbors of those foreclosed homes, but those people just don't understand the big picture.
Hello,
The Zuckers came with an innovative idea to maximize the exposure of their foreclosures to the prospective clients. Consequently, the strike rate would be higher, resulting in faster sell off of of those foreclosures. It would help remedy the market crunch for the real estate in a certain way.
Best regards,
Udom P.