Just when you thought you knew everything about foreclosures and the investors that scoop them up from the media, now you’re going to get a complete glimpse of how they do it.  Reality TV is coming to the courthouse steps of Maricopa County.

It’s obvious that the “dream scenario” for a reality television show is to show the absolute cut throat side of this bidding war that happens on a daily basis in downtown Phoenix.    Investors from all walks of life use bidding services on a daily basis to find the gems in the community.  This process is becoming more and more competitive and prices are continuing to increase.

There are investors that do know what they are doing with constant analysis, spreadsheets, databases, and specific market knowledge that use these bidding services to their advantage.  What could come out of this is people that think that they can just jump in and try their luck at this bidding game, but they will soon find out about the fraternity of individuals frequent these daily bidding sessions.

It’s an interesting scene at the courthouse steps.  With a show that will highlight three different bidding companies and the process in how they do it, it should provide some unique insight into the foreclosure process and the investors that purchase these homes for rentals or resale.

I think what the viewer is going to be intrigued with is the speed in which these properties fly off the shelf.  Especially those that have experienced the trauma of a foreclosure.  For something that was a complete emotional situation for them, emotional tie to the property, stress of the financial burden, moving or eviction, etc., to see their whole life flash in front of their eyes in a bidding war that lasts about 2 minutes, they will soon realize that their lender needed to make a decision, and it’s not anywhere near emotional to them, it’s a business.  And now, the business of foreclosures, is going to be broadcast across the country, on reality TV.  They should really call it the real world, it’s more real than the other one!

Read the article here:

http://www.azcentral.com/community/phoenix/articles/2011/09/16/20110916reality-tv-taps-phoenix-area-foreclosures-betting-the-house.html