How Do I Find Foreclosure Properties?

Shannon Featured Articles , Foreclosures

We are often asked by potential buyers about the “shadow inventory” of foreclosed properties. How do you find out about the bank-owned properties that haven’t yet come on the market? There are many homes in the process of foreclosure that will be listed in the Multiple Listing Service (MLS) at some point, but they’re not all bank-owned. Some of them are in “pre-foreclosure” – meaning there has been a “notice of default” filed against the property owner. Others are scheduled for trustee sale. Still others have been foreclosed on or have been purchased at atrustee sale by third parties. Often …


Facing Foreclosure in Long Beach?

Shannon Featured Articles , Foreclosures , Short Sales

If you behind on your mortgage payments or facing foreclosure of your Long Beach home, you may be wondering what your options are. My team and I have worked with lots of homeowners in this situation. We’ve been able to help homeowners successfully avoid foreclosure even when the trustee sale was just around the corner. One of the first options that many homeowners explore is a loan modification. Sometimes, though, even if the bank agrees to reduce the payment, it’s not enough to reduce the financial stress on the homeowner. With negative equity, refinancing can be a challenge. Doing a …

2075 E Appleton St #18

Shannon Featured Properties , Foreclosures , Long Beach Condos

JUST SOLD! Charming condo in the Alamitos Beach area of Long Beach. The spacious living room has hardwood floors and is wired for surround sound. The kitchen features a new vinyl floor, updated countertops, & built-in microwave. There is one large bedroom, and a bonus room that could be used as a bedroom or home office. Lots of storage in the hallway closets. Secure parking garage with storage lockers and assigned/deeded parking space. Central courtyard with mature landscaping and a community laundry room. Building exterior scheduled for painting this summer. Walk to restaurants, shops and the beach from this convenient Alamitos …

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Long Beach Foreclosures Can Be a Good Deal

Shannon Featured Articles , Foreclosures , Long Beach Condos , Real Estate

If you’ve been considering buying a home in Long Beach, California, this could be a good time. Right now, there are a number of distressed properties on the market with reasonably low prices. Both short sales and foreclosures can represent good deals for Long Beach home buyers and the fact that interest rates are low means that monthly mortgage payments are sometimes about the same amount as you would pay for rent.


Long Beach CA Short Sale Expert Offers Advice to Struggling Homeowners

Shannon Featured Articles , Foreclosures , Short Sales

If you or someone you know is considering a short sale of your Long Beach area home, it’s important to get all the facts.   Many times when people fall behind their mortgage, they get bombarded with information and solicitations but aren’t sure where to turn. If you do nothing, the eventual result will probably be foreclosure, which could damage your credit and make it difficult to buy a home in the future. Unfortunately, there are a number of companies out there who prey on struggling homeowners. There are foreclosure alternatives you can pursue for free. Obtaining a loan modification on your …

Socialite Bankrupcy

And the rich get richer…

Shannon Featured Articles , Foreclosures

Did you see the story about the Kluge mansion in Virginia? Like many American homeowners, Patricia Kluge lost her home to foreclosure. But her cae was a bit different. Her home was a 24,000 sq. ft. palace with 45 rooms, a spa, home theater, and 3,500 bottle wine cellar. Apparently the one thing it doesn’t have anymore is a front yard. While Patricia Kluge’s finances were falling apart, she apparently turned to family friend Donald Trump, who did what Donald does — buy real estate. He snapped up a number of pieces of land around her Virgina estate, including a …


Thinking of buying a fixer? Consider a 203(k) loan!

Shannon 203(k) loans , Buying a Home , Featured Articles , Foreclosures

If you’ve ever dreamed of buying a fixer and making it your own but lacked the money to do the actual fixing, you may wish to consider buying with a 203(k) rehabilitation loan. We come across homes for sale in Long Beach, Lakewood, and Signal Hill all the time that need lots of work — short sales, foreclosures, probates and even regular sales. Often, buyers pass on those fixer-upper homes because they wonder where the money would come from to fix them. Homes for sale that are “turnkey” or move-in ready fetch top dollar even in today’s market, while fixers …

Long Beach

Long Beach Market Update

Shannon Featured Properties , Foreclosures , Real Estate Market Update , Short Sales

During the first quarter of 2011, 425 single family homes sold in Long Beach, slightly fewer than the 450 that sold during the same time period in 2010. For the first quarter this year, the average sales price for homes that sold in Long Beach was $393,381, just slightly down from the average sales price of $396,198 for first quarter of 2010. Meanwhile, average time on the market lengthened from 69 days during first quarter 2010 to 94 days during first quarter 2011. Distressed sales – including foreclosures and short sales — continue to make up a significant part of …

Free Report on Alternatives to Strategic Default

Strategic default may not be strategic

Shannon Featured Articles , Foreclosures , Short Sales

Recently, I’ve heard the term “strategic default” being used more frequently from homeowners in Long Beach, Lakewood and surrounding communities. It shouldn’t be a surprise. With more than 25 percent of homeowners now owing more than what their homes are worth and millions more having a hard time paying the mortgage, it’s becoming more common for homeowners to consider just letting their home go to foreclosure. If you are having trouble paying the mortgage on your Long Beach home and you’re wondering what you should do, it’s important to get all the facts. You may wish to seek legal advice …

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Buying a Long Beach Foreclosure or Short Sale

Shannon Featured Articles , Foreclosures , Long Beach , Short Sales

If you’re looking for a distressed property in Long Beach, you have many to choose from. Of the 755 houses for sale in Long Beach right now, 319 of them are either short sales or foreclosures. Distressed properties are a part of the real estate landscape right now. Buyers may consider foreclosures — also known as bank-owned or REO homes — or short sales. So what’s the difference between buying a short sale or a foreclosure? Many buyers think the process is just the same. When you’re buying a short sale, the process can be longer and more involved because the seller …