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.