We’re live in a nice little neighborhood in Compton, CA.

Adam and I walk you through this 2 bedroom, 1 bath Compton house to show you the loft ceilings and other features.

We’re walking through before the initial trash-out, so it’s a little messy. And we’re trying to be super quiet because we don’t want to disrupt your closest neighbor.

Just take a look:

The house does need work, but it’s a great fixer-upper for the right person.

In two weeks, the house will be spotless, painted and ready for sale, so be sure to check www.shandrowgroup.com.

If you would like to take a look at this house, or be notified when it comes on the market, just contact me @ 562-364-9505 or mark@shandrowgroup.com

One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

The December issue of the Shandrow Group Long Beach Real Estate Review is here.

The purpose of this monthly publication is to educate its readers on the local Long Beach, California real estate market conditions. This document will illustrate the historical trends of the market with information such as monthly units sold, average list price (LP), and days on market (DOM) graphs and charts.

If you are a buyer looking to buy a home or investment property, this information will help you become more familiar with the local real estate nuances and terminology.

Download your copy right here: LBRealEstateReview-Dec-10

If you have more questions about the Long Beach Real Estate Review, feel free to contact me @ 562-364-9505 or mark@shandrowgroup.com

Are you tired of the same old recycled information about how to buy homes in Long Beach, CA?

Well, we are too.

That’s why my brother, Adam, and I created a fantastic new podcast, LivingLongBeach.com covering everything Real Estate in Long Beach.

Just click the link: LivingLongBeach.com and listen to all the news about our area, real estate, and short sales, Fannie Mae and Freddie Mac and everything else that affects how you purchase a property in Los Angeles County.

When you tune in, you’ll hear the latest real estate property statistics in the Long Beach area, discover which properties we pick for the deal of the day and learn how to navigate the real estate market as a new or long-time buyer.

So if you’re interested in topics like “The Top 5 Rookie Buyer Mistakes”, click on over to find out how and why you’re wasting time or money making these mistakes.

And you definitely don’t want to miss our discussion about whether or not the Obama Administration should bring back the First-Time Home Buyer Tax Credit.

So check it out today.

LivingLongBeach.com

It’s everything you need to know about buying Real Estate in Long Beach!

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

But according to data compiled by Inside Mortgage Finance – a company that polls over 3,000 real estate agents monthly – home sales to first-time homebuyers dipped significantly last month.

What Happened to the Housing Market in July 2010?

In July, first-time homebuyers accounted for only 39 %of the home purchases across the country. That number is down from the peak of 48 % in March and is at the lowest level seen since 2009. As predicted, the government’s initiative to stimulate home sales has worked, but as economists warned, sales slipped fairly substantially in the months following the tax deadline.

The surge in first-time buyer activity last March also came at the same time that the volume of distressed properties reached over 50 % of lender inventory, far above the distressed inventory low of 37 % recorded in November 2009, when loan modification programs and foreclosure delays significantly reduced lender inventory of distressed properties.

If this trend continues, first-time homebuyer activity could fall below 30% in the next few months. Clearly, the tax credit deadline has had a big effect on first-time homebuyer participation.

What Should First-Time Los Angeles County Homebuyers Be Looking for?

As a first-time homebuyer, you should be looking to the most popular forms of distressed home sale transactions – the Short Sale. Since March, short sales have accounted for more than 18 % of housing market inventory. If you choose the right property, you could even receive an almost 25 % discount on the current market value of the home.

With many LA County homeowners continuing to fall behind on their mortgages, and more distressed properties coming onto the market, as a first-time homebuyer you have an opportunity to swoop up the excess inventory.

Short sales remain one of the few bright spots in the residential housing market. With short sales’ time-on-market continuing to decline, from an average of just over 20 weeks in February to more than 15 weeks July, many first-time homebuyers purchased Short Sales in the last month. This activity will stabilize prices over the next few months, and hopefully more homeowners will focus on swooping up these distressed properties and positively affect the non-distressed housing market.

Should You Consider a Non-Distressed Property as Your First Home?

With non-distressed property prices still rising too quickly, you should be contacting a Short Sale Real Estate Agent, to explore your other options. As more REOs come on the market, non-distressed properties will continue to impact pricing into the fall.

If you need more information about the first-time homebuyer incentives and Short Sales in Los Angeles County, visit http://markshandrow.com/free-book/to download my book: Should I Short Sale My Home? The Homeowner’s Guide to Surviving the Worst Real Estate Market in History.

For questions about the book, feel free to email me at mark@shandrowgroup.com or call me at 562-364-9505.

One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

It was a great opportunity for me to take in sessions covering the latest real estate property processing methods and vendor regulations.

I attend these real estate/REO conferences because they offer a great opportunity to network with my peers and clients. I always enjoy an opportunity to meet up with people in person and chat about business.

This year’s conference included three education tracks covering valuations Broker Price Opinions (BPO), REO servicing, and field services.

Most sessions were designed to help real estate agents increase business using CoreLogic. The secondary focus was helping attendees understand expectations from our clients and federal agencies and learn real estate best practices.

Some of the sessions offered this year included:

• Valuation technology and trends
• Insights into working with asset managers
• Eviction and property preservation best practices
• Quality improvement solutions
• How scorecard ratings work and how they can lead to more broker /vendor business

The keynote speaker was James “The Ragin’ Cajun” Carville, Author, Political Consultant, and Commentator.  His keynote was an analysis of past and present politics and he shared his thoughts on current events, the administration of Barack Obama, the 2010 mid-term elections and the challenges facing the major political parties.

Unfortunately, I had to leave the conference early because of a random emergency.  I actually slipped at the event and blew my left knee out. This resulted in a night in the ER and an earlier than expected departure.  The good news is I was extremely well taken care of at the event hotel and the hospital.  Everyone was so amazingly caring and considerate, which made a major injury easier to bear.

Now, I have about eight weeks of crutches to look forward to–at least my upper body will get a good work out.

If you have any questions or feedback, feel free to contact me @ 562-364-9505 or mark@shandrowgroup.com

One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

?

I’m here to take a look at a condo unit in one of the two modern high rises of the Aqua Building.

The 1 bedroom, 1 bath condo is approximately 800 square feet and is located on the 14th floor. The unit features tiles counters, lots of appliances, a wine rack and inside laundry facilities.

Just take a look:

It’s a modern 1 bedroom condo with 10 foot ceilings. The unit has a beautiful view of Long Beach. From the balcony, you can see Ocean Boulevard, the Cooper Arms Building, Veteran’s Park and the possibly the Hollywood sign.

We’re putting it on the market some time in the next 10 days. So be sure to check Shandrow Group and MLS for the listing.

One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

All the confusing and inaccurate data that is posted on the internet and spread around on the news is based on the understanding of writers and journalists that may not understand the Loan Modification process.

So how do you know when you’re getting the right information about Loan Modifications?

Simple, find someone who deals with loan modification, foreclosure and Short Sale clients on a regular basis.

The purpose of this article is to educate homeowners by addressing the facts and myths that seem to surround the ever elusive loan modification.

The following list should help demystify the most common misunderstandings surrounding the loan modification processes.

What are the Top 10 Myths about Loan Modifications?

Loan Modification Myth #1: My credit score is too low to qualify for a loan modification.

Unlike the option of negotiating a new loan, which requires you to re-apply, loan modification simply adjusts the terms and reduces the balance of an existing loan. Your credit score is much less of a factor in determining whether you qualify for a loan modification. Additionally, a successful loan modification may improve your credit score over time, especially if it prevents you from a foreclosure or bankruptcy.

Loan Modification Myth #2: It’s better to walk away or declare bankruptcy than to modify my loan.

Walking away from the home and filing for bankruptcy are certainly two options, but they aren’t necessarily the best options when you are facing foreclosure. If you walk away, the lender is unlikely to pursue legal action against you, but they could pursue a deficiency judgment against you to collect the difference between what they receive  at auction and what you currently owe on the balance of the mortgage. Filing for bankruptcy may be better than just walking away, but it can negatively affect your credit history which makes it difficult to borrow money for 7 years.

Loan Modification Myth #3: Mortgage lenders would rather foreclose than modify your loan.

Mortgage lenders want to avoid foreclosure as much as you do. Foreclosure is a costly, time-consuming process for lenders. With declining house prices and the difficulty of selling real estate right now, a foreclosure more costly for lenders. Lenders don’t want your house; they want you to pay off your loan. If they understand that a loan modification will enable you to continue to make payments on your mortgage, they are likely to agree.

Loan Modification Myth #4: You have to be late on your payments to get a loan modification.

To obtain a mortgage loan modification, homeowners only need to prove that they are in danger of defaulting on their loan. If you have experienced a recent financial crisis,  making you unable to pay your monthly mortgage payments in the future (such as divorce, loss or reduction in income, or medical bills due to illness or injury), then you may qualify for loan modification.

Loan Modification Myth #5: Contacting your lender directly is the best way to get a loan modification.

This is not necessarily untrue. You can certainly renegotiate you mortgage on your own. However, a Loan Modification Specialist who has experience in the real estate field is much more capable to negotiate the best deal possible. Experienced Loan Modification Specialists know what lenders are willing to negotiate and how far they can go, because they have worked with the lender and other lenders in the industry. With the threat of a possible law suit sitting at the negotiating table, the lender is usually more open to negotiating a reasonable deal.

Loan Modification Myth #6: A loan modification will hurt my credit.

It can depend on your lender and the type of modification you are asking for, but most loan adjustments should not damage your credit score. Modifications, like refinances, are not about borrowing more money so they usually don’t affect your credit. They could even help your credit if the renegotiation helps you to start making mortgage payments again. If a loan modification could hurt your credit, the impact would be far less than defaulting and having the bank foreclose on your home.

Loan Modification Myth #7: I’ve already received a foreclosure notice, so it’s too late.

If you have received a foreclosure notice from your lender you can still modify your home loan. As homeowners, you can request loan modification at almost any point during the foreclosure process. But you need to act quickly, because your window for options closes as time goes on. Lenders want to avoid foreclosure at almost any cost, so if they can turn a loan from a non-performing into a performing account, then they will be more willing to grant a loan modification.

Loan Modification Myth #8: If the lender doesn’t want to negotiate, it doesn’t have to.

Lenders often  negotiate a solution with homeowners so that they have fewer bad loans on their books. If they accumulate too many bad loans, their reputation suffers, and they may have trouble borrowing money to make future loans. In addition, many loans that are in default contain evidence that the lender acted inappropriately when approving loans. In most cases, lenders are legally obligated to re-negotiate the loan agreement with the homeowner.

Loan Modification Myth #9: If I do not qualify for a loan modification, I will lose my home.

Not everyone qualifies for a loan modification, but most homeowners have more than 10 options they can pursue to either keep their home or get out from under it. These include placing the your home on the market for a Short Sale, refinancing out of trouble, borrowing money to reinstate the loan, and working out a payment plan with the bank (forbearance), to name a few. You even have the option of buying back the property from whoever happens to purchase it at the auction. Just contact a real estate professional to discuss your options.

Loan Modification Myth #10: I can only apply for a loan modification on my primary residence.

Loan modification is designed for homeowners, not real estate investors, so you have a better chance of negotiating a loan modification for your primary or secondary residence – that is, for a home you actually live in rather than an investment property. However, the mortgage lending industry cannot afford to have any more loans go into default. Lenders will even work with investors to renegotiate their loan agreements.

Getting the right information about loan modification is important. As a homeowner you should should know that lenders want to avoid foreclosure, and be sure you do everything you can to stay eligible for a loan modification.

The best thing you can do is contact a Short Sale or Loan Modification Specialist to help you explore all of your option early.

Remember, regulations change all the time so make sure you get the right person to do your research.

The real estate landscape is constantly changing, and only by consulting a specialist with knowledge in the field of loan modifications can you truly help you make the best decision for your future.

If you’re not sure where to start or what to do about the loan modification process, give me a call. I’ll help you go over your options and get you started on the path that’s right for you.

One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

We’re in beautiful sunny Belmont Shores, right next to the Pacific Ocean.

It’s not the greatest day for us. We took over the Covina property and the occupants left everything. And I mean everything.

Just check out this video:

This is always our worst case scenario and nightmare for a REO agent . . . having to kick people out of their home. And the sad reality is that this is not the first Long Beach family to leave their dog behind.

Don’t worry, we called No Paws Left Behind, the not-for-profit organization dedicated to bringing awareness and finding solutions to the growing phenomena of foreclosure pets, and they came out quickly to rescue the dog. This Rotti will have a new home soon.

It’s a really nice Belmont Shores home, though a little cluttered, and it will be on the market in about 45 days.

If you would like to find out more about No Paws Left Behind, visit http://nopawsleftbehind.org/paws/AllAboutPaws/. They organization is doing wonderful work for the abandoned and forgotten pets of people facing foreclosure. Their biggest concern is the 1 1/4 million pets still at risk of neglect and abandonment due to foreclosure. NPLB looks for No-Kill shelters and adoptive families for rescued pets, as well as provide  temporary foster care until permanent living solutions are found.

That’s why we’ll continue our fight for One Less Foreclosure.

Sincerely,

Mark Shandrow
Real Estate Broker
office 562-364-9505 ext 100
mark@shandrowgroup.com
Shandrow Group
3970 Atlantic Ave., 210
Long Beach, CA  90807
follow my story at http://markshandrow.com

But at least he’s not walking away from his home empty-handed.

In this pic, one of Shandrow Group’s Field Agents is handing an occupant a Cash for Keys check to help him move out of his foreclosed home.

We didn’t get the same reaction as our most recent Cash for Keys success, but we’re happy to do what we can to help people in these situations.

If you have questions about Cash for Keys, or are worried about the bank foreclosing on your home, give us a call.

We’re happy to answer all of your questions.

Sincerely,

Mark Shandrow
Real Estate Broker
Owner Shandrow Group
mark@shandrowgroup.com
shandrowgroup.com

P.S. Want to read more stories like this one? Sign up for my Real Time REO Reporting list and I’ll send them right to your inbox.

This recent foreclosure at 1049 Hobart Blvd is a perfect example of the prime properties we represent at Shandrow Group.

Follow me as we take a walk through this beautiful 3 bedroom, 2 bath condo:

This condo is only 4 or 5 years old and it features granite counter tops and flooring with lots of space and some newer appliances. It also has a fireplace in the livingroom.

The 15 x 15 foot master bedroom has 20 ft ceilings and a walk-in closet. It also has a party loft upstairs where you can look out over the entire unit. The rooftop party has a perfect view of downtown Los Angeles, you can also catch a glimpse of the Hollywood sign.

You really have to check it out when it finally hits the market.

I’ll keep you updated.

Or you can sign-up for my VIP list now, so you don’t miss out.

One Less Foreclosure!

Sincerely,

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