We’re proud to announce that Shandrow Group will soon be making its European television debut in a German “60 Minutes”-style documentary on the booming California foreclosure market.

We were honored to have Munich-based FOCUS TV Produktions GmbH along for the ride for an entire day last week as editor Kirsten Moser and her camera crew shadowed Shandrow Group broker-owner Mark Shandrow while he went about his business day. The video shoot included visits to:

• Several bank-owned/REO properties currently under Shandrow Group asset management contracts
• A Shandrow Group-listed foreclosure duplex in Compton
• A single family residence foreclosure currently for sale by Shandrow Group in Long Beach’s historic Wrigley neighborhood
• An upscale lender-owned condominium in Manhattan Beach (which is now in ESCROW!) and several other exclusive Shandrow Group properties featured on our popular VIP Foreclosure List.

The 20-minute FOCUS TV California foreclosure market documentary segment also features a San Diego sheriff performing officer eviction lockouts and a work crew in Perris painting brown grass green, a common instant front yard “face lift” in a foreclosure-blighted neighborhood.

Mark expressed his experienced, informed perspective on what the future holds for the local and national foreclosure market on-camera, specifically regarding the American real estate industry’s emergent shadow inventory phenomenon.

He explained that approximately one-third of Southern California foreclosures are now in what’s called shadow or “limbo” territory. That is to say that they are not registering in county records as having been resold.

Banks throughout California and the rest of the country are “sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale.” When those shadow inventory properties flood the market–and they will–home values will dramatically drop in response, Mark told German FOCUS TV reporters.

With so many bank repossession and default notices expected to explode onto the market in the coming weeks and months, Mark doesn’t foresee the foreclosures trend slowing down any time soon.

“This is just the beginning of the foreclosure market,” Mark commented. “Coupled with property depreciation in California, in the coming years, we can expect this situation to continue to greatly impact the domestic and global economies.”

“On a brighter note, we will eventually see the real estate market come back into balance,” Mark said. “However, it will definitely take plenty of time. Unfortunately, this is the way a free market works. The real estate market became incredibly inflated, and in turn inflated people’s expectations, and it just has to level out at some point.”

Munich-based Focus TV, a spin-off of the internationally read Focus Magazine,  is broadcast throughout Germany, Switzerland and Austria.

All of us at the Shandrow Group truly appreciated and enjoyed the up-close-and-personal opportunity to play a direct role in educating an international audience on the fast-paced, ever-evolving Los Angeles and Orange County area foreclosure climate, and, more specifically, Southern California’s unprecedented shadow inventory, which you’ll definitely be hearing about in the headlines very soon.

When we receive a video link to the segment, you’ll be the first to know!

As always, stay tuned for more exciting Shandrow Group development news.

To contact the Shandrow Group today, call 562.364.9505, ext. 800, or connect with one of our agents via our About Us page.

BARGAIN-PRICED.
BANK-OWNED BENEFITS.
PRIME FIXER-UPPER.

PRICE: $69,900

ADDRESS: 407 S. Acacia Ave., Compton, CA 90220

TYPE OF HOME: Single family, 2 bed, 1 bath

HOME SIZE: 944 sq. ft.

LOT SIZE: 5,200 sq. ft.

YEAR BUILT: 1915

HIGHLIGHTS:
* Large, natural light bathed windows
* Ceiling fans
* Spacious yard (surrounded by white picket fence)
* Tiled shower and soaking tub
* Custom built-in bookshelves, storage and cupboards
* Tiled countertop kitchen
* Detached garage

COMPTON REDEVELOPMENT & OPPORTUNITY
Compton was recently designated as an “Entrepreneurial Hot Spot” a nationally-renowned independent economic research firm. The rapidly-gentrifying, centrally-located city made the national list for best places to start and grow a business, and ranked number two in Los Angeles County out of 88 cities. It’s a prime location for beginning entrepreneurs who can get assistance from a beginning business support program that relies upon of a wide-ranging mix of resources to upstart small business owners.

SCHOOL DISTRICT: Compton Unified
Primary: Kennedy Elementary
Middle: Davis Middle School
High: Compton High School

Click here to watch a photo slide show of 407 S. Acacia Ave., inside and out.

BENEFITS OF BUYING A BANK-OWNED HOME
The home at 407 S. Acacia Ave. in Compton is a bank-owned home (also referred to in the industry as an REO, a real estate-owned property). There are 5 main advantages to purchasing a bargain-priced bank-owned home like this:

1. More home for your buck. How? By taking advantage of potentially lower interest rates and dramatically lower prices, two ways in which banks entice buyers to take a losing asset of their hands—fast! Bank-owned (REOs) and foreclosed upon properties average discounts between 20% and 25% off their overall retail value. Buying the property “as is” can get you even deeper discounts.

2. More properties to choose from. There’s a massive, seemingly unstoppable inventory of repossessed homes that banks are struggling to offload during the current economic downturn and historically high spike in foreclosures. The bank’s goal is to sell quickly to qualified home buyers at significantly discounted rates. Some bank-owned homes can drop as much by as much $10,000 to $20,000 in just two weeks.

3. Bank-owned homes are easy to find. Simply call the Shandrow Group to tap into our ever-growing list of Southern California bank-owned properties and foreclosures for sale. You can opt into our VIP list now. No major time commitment on your part. No endless searching. No pressure. No hassle.

4. What you see is what you get. Unlike real estate auctions, you’ll be able to personally view exclusive, Shandrow Group listed bank-owned properties inside and out before buying. That way, you can feel confident moving forward. No lingering sight-unseen concerns. No problem.

5. Less tax hassle. A bank typically settles its property’s tax issues and liens upon repossession, meaning less hassle, time and money on your part.

Call Mark Shandrow and his team of bank-owned/foreclosure sale specialists at 562.364.9505 today for more information on this great first fixer-upper home or investment property.

Sincerely,

Your trusted connection to Southern California’s exciting bank-owned properties market,

Mark Shandrow
REO Broker, Owner
Shandrow Group
markshandrow.com

PRICE: $135,000 (only approx. $207 per square foot).

THIS ADDRESS: 1227 E. First St., #2B, Long Beach, CA 90802-5709

CROSS STREETS: ORANGE & ESPERANZA

CONDO TYPE: beach community 1 bedroom, 1 bath upstairs condominium-style residence (in a 10-condo building)

CONDO SIZE: 650 sq. ft.

YEAR BUILT: 1961

INTERIOR AMENITIES
* Recently remodeled deluxe full bathroom, featuring high-end brushed nickel sink and shower fixtures, European style carved wood pedestal sink with storage below, contemporary stone tile floors and matching shower tiles
* Recently refurbished kitchen, featuring granite countertops, tile back splash, gorgeous high-shine hardwood floor, spacious stained wood cabinets
* Recently upgraded windows
* Brilliant natural light-bathed space
* Partial ceramic and carpet flooring
* Newer ceiling fans
* Ample bedroom closet space and storage

EXTERIOR AMENITIES:
* Located only a short stroll to the Pacific Ocean shore, popular beach area and bike path
* Private balcony for entertaining/barbequing/dining
* Balmy ocean breezes
* Close to the downtown financial district, Fourth Street’s Retro Row, the Pike entertainment complex,  Rainbow Harbor, walking distance from 2nd Street/Belmont Shore entertainment, business and culture districts

SAFE, POPULAR BEACHSIDE NEIGHBORHOOD
Alamitos Beach, which encompasses miles of stunning oceanfront property between downtown Long Beach and Belmont Shore, is at the forefront of Long Beach’s exciting urban redevelopment renaissance.

Alamitos Beach’s commanding ocean views and majestic estate homes are a favorite with Hollywood filmmakers. NBC’s Fear Factor stunt reality game show was often filmed on its beaches and in the adjacent bay.

TAKE ADVANTAGE OF DRAMATICALLY REDUCED CONDO PRICES
Dozens of inland Long Beach condominiums and townhomes—including this amazing Alamitos Beach deal—are experiencing dramatic price drops between 30 and 50%. There’s never been a better time than now to get a great deal on your dream downtown Long Beach condo. With prices lower than they’ve been in years, plus historically low interest rates, now is an opportune time to buy.

To learn more, call the Shandrow Group today at 562.364.9505.

Downtown Long Beach condos and townhomes sell extremely quickly, so count on us to keep you in-the-know the minute available units arrive on the market. Ownership IS once again within reach.

Sincerely,
Mark Shandrow
Real Estate Broker, Owner
Shandrow Group
562.364.9505
markshandrow.com

Ocwen Financial Corp., a prominent subprime loan servicer and current Shandrow Group client, is officially the first mortgage servicer to begin modifying home loans as part of the Obama administration’s Making Home Affordable (MHA) program.

The $75 billion government loan modification initiative enables at-risk borrowers lower their monthly payments to help them avoid foreclosure or bankruptcy or both. An increasing number of struggling homeowners are opting to sell their homes via short sales. “Responsible homeowners” who meet the straightforward MHA criteria can refinance their loans with interest rates as low as only 2 percent. MHA is scheduled to run through 2012.

If you have questions about the Making Home Affordable initiative and/or subprime loan modification or short sales, call the Shandrow Group for more information today at 562.364.9505.

Ocwen expanded staffing by more than 65 percent in anticipation of the program’s roll-out. Under MHA guidelines, lenders can trim struggling homeowners’ mortgage payments no higher than 38 percent of their income. However, the Treasury Department will share the financial burden with lenders to further lower the debt-to-income ration to 31 percent. Some loans will be eligible to be lengthened over a 40-year term.

Who can participate?

• Homeowners who have an unpaid principal balance up to $729,750

• Homeowner with loans that originated before Jan. 1

Sincerely,

Your trusted connection to the Southern California real estate market,

Mark Shandrow
Real Estate Broker
Shandrow Group
markshandrow.com

Wednesday, April 8, 2009 (SF Chronicle)
Banks aren’t reselling many foreclosed homes
Carolyn Said, Chronicle Staff Writer

A vast “shadow inventory” of foreclosed homes that banks are holding off the market could wreak havoc with the already battered real estate sector, industry observers say.   Lenders nationwide are sitting on hundreds of thousands of foreclosed homes that they have not resold or listed for sale, according to numerous data sources. And foreclosures, which banks unload at fire-sale prices, are a major factor driving home values down.

“We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market,” said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. “California probably represents80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You’d have further depreciation and carnage.”

In a recent study, RealtyTrac compared its database of bank-repossessed homes to MLS listings of for-sale homes in four states, including California. It found a significant disparity – only 30 percent of the foreclosures were listed for sale in the Multiple Listing Service. The remainder is known in the industry as “shadow inventory.”   “There is a real danger that there is much more (foreclosure) inventory than we are measuring,” said Celia Chen, director of housing economics at Moody’s Economy.com in Pennsylvania. “Eventually those homes will have to be dealt with. If they’re all put on the market, that will add more inventory to an already bloated market  and drive down home prices even more.” More than one-third locally.  In the Bay Area, a Chronicle analysis of data from San Diego’s MDA DataQuick shows that more than one-third of foreclosures are in shadow territory – that is, they are not registering in county records as having been resold.

For the 26 months from January 2007 through February 2009, banks repossessed 51,602 homes and condos in the nine-county Bay Area, according to DataQuick. Yet in the same period, only 30,823 foreclosures were resold, leaving about 20,000 bank repos unaccounted for. Turnaround usually quick.  Realtors say foreclosures generally go on the market a month or two after the bank takes title and then sell fairly quickly, often getting an accepted offer within a week or two of being listed and then closing escrow within 30 days. That means that foreclosures should register as being resold within three months.

But taking the foreclosures in any given month or selection of months and looking at what happened three months later also reveals a big gap between what banks took back and what they resold.   Tom Kelly, a spokesman for banking giant Chase in Chicago, said the bank sells foreclosed homes in a timely fashion.  “We try not to be in the business of owning homes,” he said. “Our goal is to get them back on the market as quickly as possible. We want to maximize what we sell them for and yet do it quickly.”   Kelly was at a loss to explain the shadow inventory phenomenon other than the quantities involved.   “The inventory might be growing because there is just a lot of volume coming in. That would not surprise me,” he said.

Locally, the monthly number of foreclosures has decreased since peaking at 4,321 in August 2007.  That has allowed foreclosure resales to start closing the gap.   Most observers say the recent fall-off in foreclosures came because California and many banks implemented foreclosure moratoriums in the fall, not because the problem has diminished. Only 65.5 percent resold

A second DataQuick study of all Bay Area homes repossessed by banks in the 18 months ending January 2009 tracked how many of those homes had resold by mid-March. It found that 65.5 percent had resold. Discovery Bay’s ForeclosureRadar.com compared its database of Bay Area foreclosures to MLS
listings for the past 120 days and found that fewer than one-fifth of the foreclosures showed up as for-sale listings.   “Foreclosure numbers are artificially depressed,” said CEO Sean O’Toole. He puts California’s shadow inventory at about 100,000 homes.  So why aren’t banks selling off their foreclosures?

Observers say several factors are at work.

– The “pig in the python”: Digesting all those foreclosures takes awhile. It’s time-consuming to get a home vacant, clean and ready for sale. “The system is overwhelmed by the volume,” Sharga said. “In a normal market, there are 160,000 (foreclosures for sale nationwide) over the course of a
year. Right now, there are about 80,000 every month.”

– Accounting sleight-of-hand: Lenders could be deferring sales to put off having to acknowledge the actual extent of their loss. “With banks in the stress they’re in, I don’t think they’re anxious to show losses in assets on their balance sheets,” O’Toole said.

– Slowing the free-fall: Banks might be strategically holding back some foreclosures so prices don’t fall as fast. “They want to be careful about not releasing them too quickly so they don’t drive prices down and hurt the values,” O’Toole said.

Besides the shadow foreclosures, yet another wave of distressed properties is in the pipeline. These are homes with delinquent payments for which the banks appear to be prolonging the foreclosure process. Some of that could be because they’re negotiating with homeowners about loan modifications or other ways to keep them in the home. But banks also could be deliberately foot-dragging for the same three reasons listed above.

“The problem is that no one knows how extensive (the shadow inventory) is,” said Patrick Newport, U.S. economist with the Massachusetts research firm Global Insight. “It’s a wild card. If it’s a really big number, you’ll see prices drop a lot more and deeper problems for the financial system.” Missing foreclosures  Only 65.5 percent of all Bay Area homes repossessed by banks in the 18 months ended January 2009 had been resold by mid-March. This study looked at the same homes over time, not an aggregate of all foreclosures.

Best,

Mark Shandrow
Real Estate Broker
Shandrow Group

Address: 819-849 Pine Ave. Long Beach, CA

Units: 16

Types of Units: 1 bedroom (private upstairs master bedroom lofts), 1 bath

Size Range: Approx. 800 sq. ft to 1,150 sq. ft., varied floor plans

Stories: 2

Year Built: 2005

Average HOA Dues: $215

Indoor Amenities:
•    Ultramodern downstairs fireplaces
•    State-of-the-art gourmet kitchens, some outfitted with gorgeous granite counter tops and stainless steel appliances (including: dishwasher, washing machine, dryer, garbage disposal, gas oven and refrigerator)
•    Central cooling and heating
•    Majestic, high arched wood beam ceilings
•    Bright, wall-sized windows
•    Private upstairs master bedroom lofts, complete with private balconies
•    Spacious, walk-in closets and bonus attic storage
•    Polished concrete slab and blond bamboo floors
•    Convenient in-unit laundry

Outdoor Amenities:
•    Nearby beach access, only blocks away
•    Stunning cityscape and green, vibrant Long Beach GreenBelt views
•    Quaint courtyard garden
•    Modern sundeck patios for entertaining and relaxing
•    Private, ground-level entry
•    Two-car secure garage parking
•    Located in the heart of the burgeoning Pine Avenue, Ocean Boulevard, Alamitos Beach and Rainbow Harbor entertainment, shopping, culture and business districts

The Courtyard Lofts are the sleek, modern outcome of an award-winning adaptive reuse architectural undertaking that blended two existing retail structures and transformed them into 16 ultramodern residential lofts. A lush community courtyard garden now grows in the heart of the complex, where a commercial parking lot once stood.

Striking Modern Design
The Long Beach-based Interstices firm designed the colorful urban conversion dwelling, adding tits impressive host of other notable adaptive reuse projects within the city. The internationally renowned architecture and interior design house also counts Long Beach’s Walker Building, Newberry Building and Kress Building among its portfolio of recent historic redesign commissions. Studio 111 delivered the original conceptual design for The Courtyard Lofts.

Pine Avenue Perks
Located at 849 Pine Ave., between 8th and 9th Streets, The Courtyard Lofts are situated at the very top of the bustling Pine Avenue shopping district, arguably the most popular of Long Beach’s five distinct dining, culture and entertainment districts. It boasts a prime location in the main artery of the city’s dynamic downtown scene.

The lively urban avenue is lined with towering historical buildings, landmark art deco edifices, and modern adaptive reuse condominiums and lofts. By day Pine Avenue is alive with a steady stream of business and tourism commerce. By night, it seamlessly transitions into the hub of Long Beach nightlife, with crowds spilling over into its many galleries, boutiques and a unique fusion of dining destinations for every international taste. The nearby City Place, a mixed-use retail development, is home to Pine Avenue’s popular weekly Farmer’s Market. Art lovers will appreciate living so near to the Museum of Latin American Art, the only museum in the western United States solely focused on showcasing contemporary fine art from Latin America.

Convenient Access to Public Transit
The Courtyard lofts are a short walk from a convenient range of public transit choices. Of those, Courtyard residents can choose from: Passport A & D buses (rides west of Alamitos Avenue in downtown Long Beach are free); Passport B bus (The East Village Tour free shuttle that travels throughout the emerging art neighborhoods of East Village and West Gateway); Passport C bus (The Pine Avenue Link route, serving Pine Avenue, Shoreline Drive, Pine Avenue Circle, The Queen Mary and the Aquarium); Long Beach Transit “Regular Service” buses; the 22-mile light rail transit MTA Blue Line (runs from 7th Street in Downtown L.A., through the communities of Vernon, Huntington Park, South Gate, Watts, Compton, Carson, finally ending in downtown Long Beach).

For car commuters, The Courtyard Lofts offer quick, convenient access to the 710, 405, 110 Freeways.

Contact our experienced Shandrow Group downtown condo team today for more information on units for sale in the Pine Avenue Courtyard Lofts.

Your trusted connection to Long Beach’s exciting downtown condo and loft market,

Sincerely,

Mark Shandrow
REO Broker-Associate
The Shandrow Group
markshandrow.com

Price: $199,000

Call to Schedule a Personal Tour

Address: 11867 206th St., Lakewood, CA 90715

Home Type: Single-Family

Square Feet: 960

Lot Size: 5,050 sq. ft.

Year Built: 1953

Rooms: 3 bedrooms, 1 bath, large family room addition

Extras: Large backyard and long front driveway with carport

FIX AND SAVE!
This single-story, single-family home in the Pioneer/Del Amo area of the city of Lakewood presents a great fix-and-save opportunity for real estate investors and families. With a little TLC, it would make a perfect first home.

FAMILY-FRIENDLY LOCATION: LAKEWOOD—“SPORTSTOWN USA”
Some 50 years after its first homes were built, Lakewood still reflects the timeless charm and character of the classic mid-century American suburb. Nearly 81,000 people in some 27,000 households call Lakewood home.

Lakewood families are passionate about their nationally acclaimed youth sports programs, which have turned out several college basketball and NBA stars. In 2006, Sports Illustrated and the National Recreation and Park Association designated Lakewood as “Sportstown USA,” the only one of its kind.

Lakewood’s extraordinary physical layout — the smart grid design of its tree-lined streets and the intimate relationships between neighborhoods, schools, parks and convenient shopping options –- continues to inspire and inform neighborhood developers across the country today.

The city has ten recreational parks. Many feature well-maintained baseball diamonds, soccer fields, children’s active-play equipment and duck ponds. Other city amenities include two public swimming pools, three community service centers, the Lakewood Youth Center, Lakewood Equestrian Center, Lakewood Country Club Public Golf Course and Lakewood Community Gardens.

AWARD-WINNING SCHOOL DISTRICT ACCESS
This property is zoned for the ABC Unified School District, which the California School Board Association selected last year for its 2008 Golden Bell Award. It was the sixth time the district received the prestigious academic award in the past seven years.

ABC Unified School District is recognized throughout California as a leader in educational planning and innovation. The District has received county, state, and national recognition for outstanding programs in counseling, alternative education and staff development. ABC Students have been recognized as National Merit scholars, academic decathlon winners, and participants in the Model United Nations program.

VIDEO: LAKEWOOD CLIENTS’ TESTIMONIAL
Watch this video to see what my clients Tom and April Devane had to say about living in Lakewood. The couple bought a condo in Lakewood in 2006 with my assistance. They were great to work with and had an awesome sense of humor.

GET VIP ACCESS TO MORE FORECLOSURES LIKE THIS NOW
This property is only one of dozens of great investment foreclosures on the Shandrow Group’s exclusive (and ever-growing!) list. Sign up today to get instant VIP access to Southern California’s hottest foreclosures—BEFORE they come on the market.

Your trusted connection to Southern California’s exciting foreclosure market,

Mark Shandrow
REO Broker-Associate
The Shandrow Group
Keller Williams Realty
markshandrow.com

Here is what you need to know about President Barack Obama’s new Homeowner Affordability and Stability Plan (HASP) to help stabilize the housing market and help millions of struggling borrowers keep their homes. What is it? Who is eligible? How will it directly impact you and your family?

The first portion of HASP, the Homeowner Affordability arm, will offer struggling homeowners three basic, home-securing tools:

1. A refinancing program for those who owe more than their home is worth or have less than 20% equity in their property

2. Lower monthly payments for at-risk-of-foreclosure homeowners

3. A lower mortgage rates initiative aimed at rebuilding consumer trust in lenders like Fannie Mae and Freddie Mac

The goal of the second portion of Obama’s HASP initiative, the Stability arm, is to curb the tide of foreclosures and stabilize home prices. Those expected to benefit most are homeowners who can’t afford their mortgage payments but aren’t in a position to sell because their home’s value has dramatically dropped in the wake of the credit crunch and economic downturn.

The Stability portion of Obama’s HASP plan will:

Lower the amount home loan borrowers pay per month to more reasonable dollar amounts. Lenders are encouraged to reduce payments by 31% of homeowner’s incomes by extending the terms of the loan or reducing interest rates all the way down to 2%. Also, the Treasury can share the cost of lowering the borrower’s principal.

Who can apply for the Homeowner Affordability and Stability Plan?

Investors with investment properties will NOT be eligible. Only credit-worthy, responsible homeowners struggling to make mortgage payments but who are still current can take advantage of the plan.

In other words, if you are nearing loan default but haven’t missed payments yet, you are eligible to apply for HASP.

Borrowers who owe up to 5% of their home’s value and have guaranteed conforming loans through Freddie Mac and Fannie Mae will likely be able to refinance. Based the current market, they could be looking at 30- or 15-year, fixed-rate loans, excluding balloon payments or prepayment penalties.

Stay tuned for the latest details on Obama’s Homeowner Affordability and Stability Plan. I’ll continue following the plan as new information becomes available. If you have questions on how this will specifically impact you, feel free to call or email me.

Your trusted connection to Southern California’s foreclosures market,

Mark Shandrow
REO Broker-Associate
The Shandrow Group
Keller Williams Realty
markshandrow.com

Southern California home prices have fallen to 2002 levels, according to a recent Los Angeles Times report, and they won’t stop plummeting any time soon.

SOCAL HOMES BECOMING MORE AFFORDABLE
Studies show that significantly more people will be able to realize the American dream of home ownership in Southern California than they have been since 2000. For the first time in years, Los Angeles and Orange County housing prices are beginning to balance out with people’s incomes, housing market analysts say.

According to the Times: “The January median sales price for Southern California homes fell to $250,000, a 40% drop from the same month a year prior … The price decline was accelerated by foreclosures, which accounted for 60% of sales last month.”

Experts expect Southern California home prices to experience an additional 25% to 30% decline. Los Angeles area home prices aren’t predicted to significantly increase again until at least 2010 or 2012.

TAKE ADVANTAGE OF PLUMMETING PRICES
With so many affordable houses flooding the local market, now is a great time to get into your dream home and I can help. Foreclosures are even more affordable investments. Sign up for my VIP foreclosures list here and take action now.

Your trusted connection to Southern California’s exploding foreclosures market,

Mark Shandrow
REO Broker-Associate
The Shandrow Group
Keller Williams Realty
markshandrow.com

Call to Schedule a Personal Tour

Address: 5341 Appian Way, Long Beach, CA 90803

Home Type: Single-Family

Square Feet: 1,569

Lot Size: 3,900 sq. ft.

Rooms: 3 bedrooms, 2 baths

Year Built: 1961

Neighborhood: Belmont Shore
This amazing, not-yet-listed foreclosure is located in Long Beach’s most exclusive beachside neighborhood. The spacious 3-bedroom, 2-bath luxury home is nestled among some of the finest, most sought after beachfront real estate Long Beach has to offer. It doesn’t get better than Belmont Shore. The neighborhood pairs upscale designer boutique shopping and fine dining with a relaxed, ocean-air ambiance that’s unmatched anywhere in the city. The exclusive enclave is overlooked by Belmont Heights to the north and west and bordered by canal carved Naples and the Peninsula to the east.

A visit to the tropical foliage-festooned four-mile expanse known as Belmont Shore wouldn’t be complete without a sunny walk down the 2nd Street shopping district. The stylish stretch features 15 blocks of international cuisine, lively cafés, specialty shops and exclusive fashion boutiques. Here you can choose between dining choices of every scale, a burgeoning entertainment and bar culture and plenty of sensory inspiration for an ocean-view romantic stroll.

School District: Long Beach Unified School District
This upscale single-family, bank-owned home is zoned for three of the Long Beach Unified School District’s highest ranking schools, from elementary to high school.
The city’s nationally recognized school district is slated to receive some $56 million over the next two years as part of President Barack Obama’s $787 billion federal economic stimulus package. LBUSD was one of the top five finalists for the 2008 Broad Prize for Urban Education, recognizing America’s best urban school system for increasing student achievement. The district was the national Broad Prize winner for the 2003-04 school year.

Elementary: Lowell Bayside Academy
In 2008, the top-ranking K-8 school was named a 2008 California Distinguished School by the California Department of Education and was also selected for the prestigious designation in 2001. A recent cover story in Los Angeles Magazine named Lowell Elementary in its “60 Great Schools” selection. The school has also garnered the coveted U.S. Department of Education National Blue Ribbon Award.

Middle School: Will Rogers Middle School
In 2000, Rogers received the prestigious National Blue Ribbon Award, the country’s highest school honor. The acclaimed middle school was among only 40 California schools and 198 nationally to be selected that year from 377 nominees.

High School: Woodrow Wilson Classical High School
Newsweek magazine’s national ranking of “America’s Best High Schools” listed Wilson Classical High School, along with five other LBUSD high schools, among the top 5 percent of U.S. public high schools for 2008. Wilson ranked 452 among 1,300 U.S. high schools. It was not the first time the school was listed in Newsweek’s esteemed list.

GET VIP ACCESS TO MORE FORECLOSURES LIKE THIS NOW
This high-end Belmont Shore property is only one of dozens of great investment foreclosures on the Shandrow Group’s exclusive (and ever-growing!) list. Sign up today to get instant VIP access to Long Beach’s hottest foreclosures—BEFORE they come on the market.

Your trusted connection to Southern California’s exciting foreclosure market,

Mark Shandrow
REO Broker-Associate
The Shandrow Group
Keller Williams Realty
markshandrow.com