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Home Selling in 36542 : Real Estate Advice

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  • Local Info7
  • Home Buying9
  • Home Selling3
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Activity 6
Fri Aug 12, 2011
Dan Tabit answered:
Shane,
In general, I would prefer all distressed properties be considered in a separate category from nondistressed properties. The problem is I've been in some bank owned and short sale homes in better condition than some owner occupied nondistressed homes. This is not the rule however.
My advice to my buyers regarding short sales is that they have to be a good deal to risk the time and potential heartache you have to go through to get them. Banks holding out for "nondistressed market value" are deluding themselves, their investors and the public in the current way things are processed. If a short sale could be processed and closed in 60 days or less, the values would easily be higher.
Should distressed properties be used for comps? Only if the appraiser factors in condition and adjusts the value due to being distressed appropriately.
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Thu Apr 14, 2011
Jay Knorr answered:
I would type up an addendum, using much of the same verbage used in the lead-based paint disclosure.
To my knowledge, there is no standard form from the State of Alabama, at least not yet. ... more
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Fri Dec 18, 2009
Dottie Studt answered:
Thu Dec 17, 2009
The Lance Steffek Team answered:
None other than they want more. It is not uncommon to see sales canceled or contract prices lowered after an appraisal is finished in todays market. Most contarcts are contingent upon financing and the property appraising for the contract price. If it comes in less, the buyer can not get a loan. ... more
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Sun Feb 15, 2009
Richard answered:
The University of South Alabama MITCHELL college of Business Center for Real Estate Studies have
the data your looking for. It breaks it down to property values and % by zones including Bon Secour but
you will need to use 2006 to 2007 not 2008. The web site is cres.southalabama.edu
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Fri Sep 17, 2010
ian cockburn answered:
The newly constructed, especially if they meet or exxceed the Florida code are selling well along the Gulf Coast, from Louisiana to Alabama
0 votes 9 answers Share Flag
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