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Foreclosure Tour

READ MORE: Home foreclosure tour
By: Stephanie Beecken The slumping housing market and an increase in foreclosures are evidence of the tough economy. Locally steps are being taken to try and turn it around. People came in buses, cars and trucks to Pleasure Island looking for a bargain. Carolyn Bordeaux said she’s checking out foreclosed homes because she’s an investor looking for a good deal. For the first time in Southeastern North Carolina realtors host a foreclosure tour for financially qualified buyers. Realtor Angela Peterson said, “Having foreclosed homes on the market tends to drag prices on the average down, so we're trying to get those foreclosed homes off the market to bring prices back up in Carolina Beach.” Saturday's Pleasure Island foreclosure tour featured 13 homes: single family homes, duplexes and condos. The former homeowners were, like many Americans, who either spent above their means, or fell victim to rising prices and a lagging economy. Bordeaux believes once the houses get moving and people have faith in their values again that the economy will be back to normal. The good news is that 65 potential buyers took the tour to buy a foreclosed home and help perk up the economy. Shirley Casler, who also took the tour said, “there really are buyers out there willing to buy we just have to be reassured that there are homes that we can afford and there are homes that there's financing for.” If buyers had questions on the tour, there were plenty of qualified people there with answers. Home inspectors, mortgage lenders and attorneys went along on the tour to answer home buying questions. For the first-time home buyer or long-time housing investor, the goal is to buy a foreclosed home for a good price and hope that the purchase helps turn the economy around. While this may have been the first foreclosure tour in our area, it most likely won't be the last. Century 21 Brock and Associates is considering another on Topsail Island and in Brunswick County.

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Come one Come all to our

Come one Come all to our foreclosed home and watch as we loose the only thing that we have ever owned. The bank took our home two months ago.It was the hardest thing that so far in my lifetime I have had to bear, not to mention that I had to bury my father in law also in that month. We built our home from nothing t the most beautiful place ever. All because the mortgage company wouldn't work with us. Now, you are giving tours to people who know nothing of what they are buying. I am not saying it is their fault by any mean, but it is pouring salt in the wounds of people who tryed hard.

Can you please explain.... "the mortgage company wouldn't work with (you)?"

How sad

I am so sorry for the loss of your father-in-law. And I hope the people who buy your home learn to love and appreciate it. Good luck to you.

Our Economy and Our Dependence On Foreign Oil

As our country sinks deeper and deeper into financial crisis little is being said about the direct link of our dependence on foreign oil. The exorbitant cost of fuel has strained every aspect of our economy. It doesn't stop at filling up the family vehicles to get back and forth to work and tend to the necessities, as if that were not enough of a sucker punch to our budgets. Utility bills have also seen record rate hikes to cover their increased production costs. Every consumer product has seen sharp rises in both production and shipping costs that are readily passed on to us. Manufacturing companies are finding clever ways to try to conceal the fact that they are making products in smaller packages yet they are costing us more. Who would have thought that the term "half gallon of ice cream" would become an oxymoron in 2008 as most "half gallons" are a pint low now? There is little to no money left over for savings or investing. Jobs and homes are being lost at a record high rate. School districts are strained as to how to make up the budget deficits as the transportation departments now eat a huge chunk of available funds just gassing up the buses. Police departments are trying to offset the additional costs of keeping cruisers on the road. Even animal shelters are feeling the strain as pets are being surrendered in record numbers due to the economy. We have many natural resources of energy that could be easily tapped such as wind, solar and wave. We also have many advanced technological resources available such as hybrid cars; plug in cars, and alternative fuels. There is obviously no easy and fast solution but we need to be proactive as a nation to devise a plan to incorporate all that is available to us to get ourselves out from under the iron grip of our dependence on foreign oil. We continue to pump hundreds of billions of American's hard earned dollars overseas to countries some of which hate us. With each gallon of their oil we pump. We act dumbfounded as we are swept up in our sinking economy as it goes down the tubes. We are an intelligent nation; we are a technologically advanced nation. We are a nation with the resources we need to end this but we are a nation without a plan. Our quick fixes do not work. The 168 BILLION dollar stimulas pkg (we borrowed the money from China by the way) did nothing to fix our economy. Wouldnt it be better spent investing in getting some of these free sources of energy up and going? I read a book by Jeff Wilson called "The Manhattan Project of 2009." What an eye-opener! Wish Congress would open their eyes and read it too!

The foreclosure tour

I find it interesting to note that every time a person defaults on a mortgage we all pick up the tab either thru deflated home values in a competitive market or our portion of the 700 billion dollar bailout. And if I'm not mistaken Senator Boseman sponsored a van in that caravan of prospectors. How many millions of dollars of property has she had foreclosed on her? And how many subprime mortgages did she coax her clients to sign? This is a problem for all americans, not just me.