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Media

Gov. Schwarzenegger’s Foreclosure Moratorium Explained

February 25, 2009

Gov. Arnold Schwarzenegger signed a 90-day moratorium on California home foreclosures (legislation SB2X-7 and AB2X-7) amid criticism that the law likely won’t put a dent in the skyrocketing pace of repossessions.
Here’s what you need to know:

The bill, as part of the state’s recent budget deal, safeguards owner-occupied residences that had first loans on the [...]

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This Week’s Top Properties: 3 Great Value Southern California Foreclosures

February 24, 2009

44 Tavella Place, Foothill Ranch, Calif. 92610
VIP SPECIAL, CALL FOR PRICING INFO

CLICK HERE FOR MORE PHOTOS
Square Feet: 2,115
Lot Size: 3,794 sq. ft.
Rooms: 4 bedrooms, 2.5 baths
Here’s your chance to buy a spectacular Orange County two-story home with all the trimmings. Nestled in a private neighborhood, this completely refurbished four-bedroom, two-and-a-half-bath boasts all-new ceramic tile, carpet, [...]

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Just Listed Foreclosure For Sale: Newly Remodeled Bixby Knolls Gem

February 23, 2009

Price $345,000
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CLICK HERE FOR MORE INTERIOR AND EXTERIOR PHOTOS
Address: 1812 E. Silva St., Long Beach, CA 90807
Home Type: Single-Family
Square Feet: 1,566
Lot Size: 7,200 sq. ft.
Rooms: 3 bedrooms, 2 baths
Year Built: 1942
EXTRAS: Detached 2-car garage; private entrance to the master bedroom;
newly refurbished bathrooms and kitchen
New electrical wiring; hardwood floors; plumbing, roof; stucco and [...]

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Obama Signs Economic Stimulus, Will Soon Reveal Homeowner Help Plan

February 18, 2009

Today’s breaking housing news is centered on two historic events:

The Economic Stimulus Package – President Obama signed the $787-billion economic stimulus package in Denver, Colorado, just moments ago, in an attempt to revive the hard-hit economy and slow the tide of foreclosures.
President Obama’s Housing Rescue Plan – Tomorrow the President will unveil his much-anticipated [...]

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5 Reasons to Buy a Southern California House Right Now

February 4, 2009

Home prices just keep falling.
… and they’re only expected to dip even lower. In Los Angeles County, including right here in Long Beach, already historically-low prices have plummeted by 30%! That’s quite a bit steeper than the average national drop—21% in the past year.
As of today there are 2,035 homes for sale in Long Beach [...]

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Troubled Asset Relief Program: Will It Help Homeowners At Risk of Foreclosure?

January 30, 2009

Why is TARP in the news?
Because President Obama is considering spending up to $100 billion in financial rescue funds from the Treasury Department’s $700 billion Troubled Asset Relief Program. Why? To put the brakes on the subprime mortgage crisis. Bank regulators and Congressional leaders, are pressuring the Obama administration to use the funds to help [...]

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Obama’s Stimulus Package: What About Homeowners?

January 29, 2009

President Obama’s $825 billion proposed stimulus package may not put so much as a dent into the subprime mortgage crisis, but it might provide some relief for first-time homebuyers. How? In the form of a new and improved $7,500 tax credit.
As the law stands now, homebuyers have to pay the first-time buyer credit back over [...]

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New Foreclosure Law California SB 1137: Relief … Or Not?

January 26, 2009

New foreclosure law California SB 1137—Was it a case of too little, too late?
The thousands of Los Angeles and Orange County homeowners still on the brink of defaulting on their loans likely think so. California’s record-breaking, seemingly endless spike in foreclosures has left many frustrated with SB 1137, a supposed piece of “foreclosure relief” aimed [...]

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Mark Shandrow Discusses Options to a Short Sale in the Long Beach Press-Telegram

July 5, 2008

Click here to take a look at this article that came out a few months ago.
Press-Telegram Article Sunday, September23, 2007

Sincerely,
Mark Shandrow
Keller Williams Realty

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Tax Consequences of a Short Sale

June 25, 2008

I spoke with the LA Times staff reported Diane Wedner recently about the tax consequences of a short sale. Check out the full story here: click here for the full story.

Seller may face tax and credit troubles in a short sale
An owner can sell a house for less than its value and the lender can [...]

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