In Lacey, Washington, foreclosure notices in Thurston County have increased more than 50% in the first quarter of this year, compared to the same period last year. In response to the growing dissent, one real estate agent started offering tours of homes that are currently in various stages of foreclosure.

Through the first three months of the year, the county has recorded 228 foreclosure notices, a 54.1% increase from the 148 the county posted during the same period last year, according to county licensing and recording manager Terra Howell.

South Sound real estate agent Phil Sharp is that agent who tried to capitalize on this increase by offering tours of foreclosed property to potential investors. Last weekend, he loaded about 15 people into two white vans and toured 12 homes in Lacey and Olympia that were listed for sale by banks, or by owners hoping to sell their houses before they are sold at auction.

After a foreclosure notice or a notice of trustee has been issued, the homeowner usually has about 90 days to settle missed mortgage payments and other fees before the property heads to auction. Those auctions occur weekly at the front steps of the Thurston County Courthouse.

If the property does not sell, it typically ends up back with the lender, Sharp said.

Foreclosure tours have become a common sighting in states with a lethargic real estate market, such as Florida, Nevada and California. However, Sharp admitted that the housing market in Thurston County is generally healthy. He said that they are enjoying a steady influx of new buyers because of its growing population, and steady median prices.

In February, Thurston County median home prices increased slightly to about 4%. In contrast, median home prices in Pierce County dropped by nearly 8%, according to Northwest Multiple Listing Service data.

Thurston County has not been immune from the mortgage mess partly because of past loose lending standards and a slower housing market brought about by higher inventory levels, Sharp said.

Just recently, there were only about 400 homes on the market foreclosure investors could choose from, he said.

Meanwhile, in California, Foreclosure Trackers, Inc., is presenting a workshop on foreclosure resources for investors of all levels. Dubbed as “Defaulted Mortgages: Turning Foreclosures into Investment Income,” the event will be on Thursday, April 17 and will be from 7 pm until 9 pm.

The complimentary two-hour foreclosure investment seminar will be delivered by Foreclosure Trackers founder and CEO, Robert Lee.

Participants will learn about the five strategies of investing in foreclosures, especially about defaulted mortgages, why banks want to sell them, who can buy and what amount should be paid, in addition to exit strategies.

The program guarantees to enable prospective investors to take advantage of rising state foreclosure rates. The event will be held at 17011 Beach Boulevard, Suite 200 in Huntington Beach. Reserved seating is available by pre-registering.

Those who want to know more about how to join the event can call Foreclosure Trackers, Inc. at 714-500-1430, visit the website at www.ForeclosureTrackers.com or send an e-mail to Lance Jackson at lancej@foreclosuretrackers.com.