With the bad state of US economy home foreclosures and bankruptcies are at their record. One loss is someone’s gain and real estate agents kept their eyes open.

Once homes go into foreclosure, banks seize the property and sell it for their own gain. The price is usually lower than the market value and if we add current US prices, people buying foreclosed homes are getting a bargain. That’s what Canadians have been doing for quite a while now. They arms themselves with canadian loonies and fly to exotic(for us canadians) locations like Florida and California to shop for a new vacation house.

h2 hummer limoIf you are to travel to South Florida prepare for some fun time. Real estate agents provide H2 limousine hummer tours to all prospective home buyers who want to purchase a bank owned foreclosed home. The ride is free and is paid for by the real estate company.

“Last Thursday, a zebra- striped Hummer limousine rolled to a stop in front of a vacant, two-story yellow house on a corner lot in Tequesta, the northernmost municipality in Palm Beach County. Having finished sipping Mimosas, 11 people stepped out of the 30-foot vehicle and followed three real estate agents inside, opening cupboards, admiring the Mexican tile and wondering how much of a discount they could expect off the $290,000 list price. Then it was back in the limo and on to the next property.” - TCPalm

“One in Palm Beach Gardens was listed for $499,900 after selling two years ago for $930,000″

Whoa! That’s a $430.000 difference.

It is a little bit unethical to ride people in H2 limos to foreclosed properties since there are some real dramas behind curtains, but agents say they do not care and shoppers seem to like the idea of H2 Hummer limo very much!

If you are looking for a vacation house check out Florida.

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