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Foreclosure in Mobile : Real Estate Advice

  • All149
  • Local Info22
  • Home Buying47
  • Home Selling3
  • Market Conditions6

Activity 19
Thu Aug 27, 2015
Karen Peyton answered:
Unfortunately shared information becomes polluted, mixed and mingled until sometimes not a smidget of truth exists. It is the price we pay for living in the "internet age" where multiple data streams, 3rd party and trolling sites converge.

While not making light of your dilemma, I'd like to share a story:
Years ago my girlfriend suggested I "Google" myself. I did and got quite a few "hits" for information. What did I find out? I don't have two children, a son or daughter but not both. I am of a different religion and ethnicity. There are a whole bunch of people living in my house - who they are, I do not know. I share a home with my husband, but we may divorced.
And the grand-daddy of them all??? My husband's ex-wife lives with us!!

Just let it go Lesley. I don't think you can fight it anyway

The people who know you, "know" it isn't true. The people who don't, will not care.

Best of luck!
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1 vote 1 answer Share Flag
Tue Jul 28, 2015
dploves2sellhomes answered:
Despite the fact that the media may be leading the buyers to think that REO's and foreclosures is the answer to their dream home, it takes an educated Realtor to explain why that may not be the case.
The media will always be providing information to the public whether it's accurate or not. In my opinion, it is extremely important for Realtors to have a presence and to educate the consumers regarding the purchases of REO and foreclosed properties as well as all current Real Estate information.

I believe that if you provide valuable and knowledgeable information to your buyers and sellers and educate them instead of trying to "sell" them on a service or home, this will have a positive affect for everyone. This will relay the message that you are the local expert.
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0 votes 4 answers Share Flag
Wed May 20, 2015
thinz answered:
Having the numbers to back up the case they are trying to make.
Tom Hinz
0 votes 14 answers Share Flag
Wed May 20, 2015
thinz answered:
It is now 2015 and for the past 8 years or so, the % close for cases we've represented is a little over 90%. The #1 reason a short sale did not close is the buyer expectations were not properly stated to the buyer by the realtor. We get the highest and best price out of the gate, and when we receive a counteroffer from the lender, the buyer rejects and eventually withdraws. #2 - the buyer does not do their due diligence on the front end regarding the property condition, #3 - (and now becoming #1 as we've corrected the prior two issues...) the lender is coming back with an unrealistic BPO value that warrants a longer negotiation period and the buyer gets impatient and withdraws. Case in point - just look at how many foreclosures Ocwen has on their books that they manage...We could have closed most of them and saved them a ton of money so they can start writing more new loans...but the decision makers at the lender do not understand how to manage the short sale process for the best possible outcome...period. If lenders would stop thinking they can get more and realize this one thing - they will increase revenue and cut expenses by negotiating a short sale today with a reasonable offer vs foreclosing and selling for likely less at auction down the road. The numbers don't lie! Just some insights on my discussions that have gotten us to closing! Good luck. Tom Hinz
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0 votes 15 answers Share Flag
Fri Jul 11, 2014
ljry007 asked:
Wed Sep 26, 2012
Clifton Henderson answered:
Hello Car from Semmes Al
You can go to for my current REO listings. I can set you up with
an email alert system that will email you the newest foreclosure for the Mobile or Baldin county area.
If you have a specific search parameter, let me know and I can set up a specific search just for your
needs. I can also email you the current list, (Its rather large, easier if you narrowed the parameter down
to what you are looking for)
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0 votes 4 answers Share Flag
Tue Nov 1, 2011
Donna Testa answered:
I suggest you find a CDPE certified Realtor. Go to and click on find a CDPE. This person will be an expert on Distressed Properties. Donna Testa Realtor, CBR, CDPE
0 votes 5 answers Share Flag
Thu May 12, 2011
Speed48 answered:
Hi Contact Real Estate Institute of Western Australia they will give you the nessessary advice needed or make contact direct to the banking & morgage entities
0 votes 10 answers Share Flag
Wed Mar 23, 2011
Rosia Gibbs answered:
The gulf coast MLS, Hud homes store and homepath websites are a good place to start of you are looking for foreclosures in mobile and Baldwin counties or you can give me a call at (251) 348-2408 and I can email you listings of foreclosures. I will be happy to assist you ... more
0 votes 1 answer Share Flag
Sat Mar 5, 2011
Antonio answered:
if you're direct to seller, I got buyers........ let's talk; 813-785-7529
0 votes 2 answers Share Flag
Thu Aug 12, 2010
Synergy Realty Group, LLC answered:
All indicators are that that area is improving and will continue to do so. There are some extremely gorgeous homes in that area. If I can help you please feel free to contact me anytime
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0 votes 5 answers Share Flag
Tue Oct 27, 2009
Maria Center answered:
Thu Apr 9, 2009
Victor Kaminski answered:
Found The Bottom, is a Realtor basher all his post have one message in common, Realtors are idiot go FSBO, my guess he lost a house and blames Realtors or he owns a FSBO site. lol...

He makes posts without even reading them, this post had nothing to do with price stabilization it has to do with saving home owners from foreclosure!
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0 votes 3 answers Share Flag
Tue Sep 2, 2008
Barry Lynn Miller J.R. answered:
There is a lot of reason and I don't think there is anyone that can point to one thing that happend but I will try to make it short and sweet for you.

10-15 years ago you had to have 10-20% down and great credit to buy a Home and over time the lenders got a little lets say aggressive a first time home buyer with a 575 credit score (which is not good I might add) and with no credit history could buy a home with no money down and they would close with an arm to make things worse and at 3 years these new home owners payments go up 200-300 per month- what happens they have nothing in it no equity because of 0 down so what do they do they let it go back and rent somthing cheaper- Then the lender to cover their lose put 3 more loans in its place with the same credit or worse so there bottom line looks good for wall street. O.K lets look at left hand you have people getting in the Real estate business who have never done it before you have people getting builders lic who have never even picked up a hammer. Because you have to fill the supply for demand and everbody saw a pot of gold at the end of the rainbow I can say this because I chased that pot - I was on the mortgage side young family comes to you and what to buy you have a lender that will fund the loan what do you do- I have four kids I funded the loan I helped give them the money- And honestly if I had a lender that would fund on a 580 credit score at 100% I would fund the loan- but what i do different is I will make sure my clients understand what they are getting into I help them after the fact if they get into hardship I let them know what there alternative are other than Foreclosure. ... more
0 votes 1 answer Share Flag
Fri Dec 7, 2007
Jackie Blankenship, M.B.A. answered:
Sorry I'm sounding scary. I really hope it all works out. I don't know the number of people this will help in the end so I don't know the actual impact on the # of shortsales and foreclosures it'll 'delay', and the actual impact on the investor's bottom line. I'm more worried about the 'voluntary' arm twisting by the government. As you know, when international investors invest, one of the risks they consider is political risk. Most times, we're talking about corruption or unstable political status etc. but I think this also may be considered political risk to a certain degree. BUT I hope I'm completely wrong!!! ... more
1 vote 14 answers Share Flag
Tue Sep 4, 2007
Mr.P answered:
Well the asking price will most likely be determined by how much is owed to the bank on the property.
Most banks start there, or a current appraisal.

I am sure you are very capable to determine a fair market price for the home, since you have been watching it for three years.

The person who should determine your asking price is a professional Realtor with experience in foreclosures or Lender owned properties.
I would ask the Realtor you hire for reference's.

A lot has been written about these dogs, try this link below for further info
Good Luck
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1 vote 2 answers Share Flag
Fri Aug 31, 2007
Silvia Miceli answered:
Hi Patrick & Ed,

I clicked on the link and I see what you mean. I sometimes tend to be a little naive. I have to tell you I received an e-mail from about certain legislation being passed yesterday. I checked the press releases button on the FHA website that Patrick provided and the last posting was from Sept 5 th, I think. The e-mail I received had this in it "the House of Representatives today passed, H.R. 1852, the Expanding American Homeownership Act of 2007, by a vote of 348-72. It is meant to increase the limits, etc. I do not know by how much or if it is going to help. Still I was surprised how many times I saw the word Realtor on the main screen. ... more
0 votes 11 answers Share Flag
Mon Aug 13, 2007
Scott G Peterson answered:
In Illinois the seller's attorney orders and the seller pays for the Owner's Title Insurance and the buyer for the Lender's Title Insurance Policy.

This is a ditto/repost of Patti Pereyra, confirming as a 25+ year Chicago Veteran Broker. Although there is some change in the air, and this has always been negotiable. Since the purchaser bears the larger burden of the cost as the "Lender's Title Policy" is more than the owners, that they buyer has the choice of who they want to use! This appears to be a little known and and exercised right the buyer has. I think we will see more change in this area soon... I'll keep you posted. ... more
0 votes 15 answers Share Flag
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