How do buyers find foreclosures in a downward real estate cycle?

That’s easy. In Stockton, Calif., real estate agent Cesar Dias has it all figured out. Just take a ride on the repo home tour. Every Saturday, Dias packs in homebuyers into a bus tour of foreclosed homes in Stockton. Between a dozen and 20 people a week have reserved a seat on the foreclosure bus tour, according to the Stockton Record.

Business is so good, Dias even has a website — http://www.viewstocktonhomes.com/ — with a picture of his magic bus. While many Stockton agents have hit a bump on the road in this slow real estate market, Dias is riding high.

In September, for example, Stockton had 2,422 foreclosure filings, compared to 330 foreclosure filings in September of 2006, according to RealtyTrac. If the foreclosures keep going up in Stockton, Dais may need to buy a fleet of foreclosure buses to drive more business.