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Foreclosure in Lake Charles : Real Estate Advice

  • All121
  • Local Info7
  • Home Buying40
  • Home Selling3
  • Market Conditions3

Activity 11
Sun Nov 1, 2015
Dan Tabit answered:
Most of the Foreclosures appearing here are not for sale. Start by finding a great local agent to discuss your goals. Most people I meet with this question are under the impression that foreclosures are some great deals, a few are most are not. The few that are get bought at auction by professional investors using cash. They will invest more money into them and either rent them out long term or flip them.
Others will appear as Bank Owned homes. Some of these are okay deals, many are no better than others on the market.
If you're looking for a "good deal" consider everything on the market. Don't chase one type over another and miss out on exactly what you are looking for just because it's a conventional sale.
An experienced agent can help you sort out the good from the bad.
... more
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Wed Apr 15, 2015
John Wimbrow asked:
Thu May 8, 2014
Lisa Foster answered:
Contact a local Realtor, they will be able to help you out. If you do not know an Agent in your area, Trulia has a "Find an Agent" section, simply enter your zip code and you will be able to look over profiles of Agents close to you. ... more
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Tue Apr 15, 2014
Anna M Brocco answered:
RealtyTrac's information may not always be accurate and yes data may be too old nor updated, so oftentimes it can be misleading--you could be looking at a lis pendens properties--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. ... more
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Wed Mar 12, 2014
Josh Foster answered:
Foreclosures aren't the only properties that have the potential to make great investment properties. I would encourage you to look at probate (heir) properties as well. These properties usually require far less paperwork and are often easier to negotiate than foreclosures. I have several probate properties listed. Contact me at 337-884-4843 or for more info. ... more
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Mon Jun 17, 2013
Charlotte Guilbeaux answered:
2824 LAFRANCE DR, Lake Charles, LA sold for $67,900 after only two days on the market!
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Fri Apr 19, 2013
Gage Woodcock answered:
A realtor can set up an auto search for you that identifies all homes that are bank repos or foreclosures. The HUDHOMESTORE site only shows homes that are HUD/ Fannie Mae owned, not all bank repos. ... more
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Sun Jan 27, 2013
Janis Painter answered:
Great answer Laura, but I'd also like to add when making an offer to purchase a foreclosed home, a pre-approval or proof of funds is necessary, so be sure to have that available. We have some great investment properties in Lake Charles that are not repos with very fair prices. The sellers may be willing to negotiate the listing price. Please visit our web site at to view all the listings in the Lake Charles and surrounding areas, including the repos. Please email me with any questions. Thank you. ... more
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Thu Oct 11, 2012
Kathy Venable answered:
Most all forclosed homes are listed with real estate companies. The lenders are not in the business of selling homes. You can contact any local real estate agent to give you into. Unfortunately, when they do go on the market, they are usually priced at fair market value. What that means is that the condition of the home is taken into consideration when pricing it and it is usually priced close to the true value of the home. If they can not sell it at the fair market value, they will begin to go down on the price in increments, over a several month period of time. This is where a good real estate agent comes in. They can monitor this for you and alert you when a property drops to a desirable level. Call me if you need assistance. I would be glad to help you. My number is (337) 526-9330 or ... more
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Mon Jan 4, 2010
Tammy Ardoin answered:
Hi, my name is Tammy Ardoin, and I am a Realtor with Prudential Real Estate here in Lake Charles. The process for purchasing foreclosures or REPO's as we call them is actually very easy. Once a mortgage company obtains the property back into their name thru the sheriff's sale, it is then placed in the hand of an asset management company to handle the re-sale of it. The asset management company will obtain two or three BPO's (which are kind of like an appraisal) from different Realtors and choose one to list the property. It will then be on the market along with all other listings for buyers to choose from. The only difference is that the asset management companies sometimes take longer to reply to offers or counter an offer. I have been a Realtor covering the entire southwest Louisiana area for about 7 years now, and two years ago obtained my ABR (Acredited Buyers Representation) degree. If I can be of any assistance in your home search, please feel free to contact me at (337) 884-5214. ... more
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