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

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

Just follow me as I take you through this 3 bedroom, 2 bath home at 10630 Haledon Avenue in Downey, CA.

As we walk through the house, you’ll see why it’s called a Pre-Trashout Tour.

Just take a look:

This home has been in our portfolio for more than 300 days. Literally. Lots of court cases and lots of visits later, and the home is finally vacant.

We see this often. Evicted families strip the homes of everything they can before they leave.

It’s a mess, but it has lots of potential. Once we get the trash out, you’ll be able to see how nice this home really is. The two car garage has new doors, and most of the home has been recently updated as well.

With new windows and doors throughout, plus all the new fixtures and appliances, this home just needs the right family to move in.

This home will be on the market in a few weeks, so if you’d like to be on the list to be notified, just send me a quick email, comment, or sign-up for my VIP list now.

One Less Foreclosure!

Sincerely,

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

I take you on a walk through the home to show you all of its best features:

It’s beautiful home with lots of property, and the gardens were well maintained.

The home features 3 bedrooms and 2 bathrooms with a widow’s walk on the second floor.

In the backyard is an in-law apartment. Some of the areas of the home and grounds need to be upgraded, but it’s a beautiful spot with lots of potential.

This home will be on the market in a few weeks, so if you’d like to be on the list to be notified, just send me a quick email, comment, or sign-up for my VIP list now.

One Less Foreclosure!

Sincerely,

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

This one bedroom, one bath condo at 5500 Ackerfield 310 in Long Beach, CA 90805, has a a lot of potential.

But it still needs to be cleaned. Very badly.

The smell was so strong we could only capture 30 seconds or so of video before passing out. Yikes.

So if you’re looking to buy a 1 bedroom condo priced around $50,000, give us a call today.

Don’t miss another REO update. Just add your info to the form in the top right corner and get these delivered right to your inbox.

Sincerely,

Mark Shandrow
REO Broker-Associate
Shandrow Group
shandrowgroup.com

To combat the effects of even more foreclosures in the California housing market, Attorney General Edmund G. Brown Jr. has asked ten major banks and loan servicers to detail their plans to assist homeowners who will be forced to pay increased fees for their Pay Option Adjustable Rate Mortgages.

Why?

He knows that these increased rates will trigger a new round of home foreclosures.

With a 20% increase in foreclosure activity, the California housing market accounted for 250,000 new foreclosure filings in the last quarter. Increased Pay Option ARM rates are only going to produce more distressed homeowners and in turn, this will increase the foreclosure rate across the country, as California already accounts for 25% of the nation’s foreclosure activity.

Can a Responsive Lending Industry Help Owners Avoid Foreclosure?

Brown believes it can. As California homeowners hold almost 60% of the nation’s Pay Option ARMs . That means approximately one million of these mortgages will reset nationwide in the next four years, resulting in higher fees and a huge increase in the amount of foreclosures banks and REO Asset Managers need to acquire and resell.

In a letter sent to Bank of America Home Loans & Insurance, Wells Fargo & Company, JP Morgan Chase & Co., Litton Loan Servicing, ResCap, Ocwen Financial Corporation, OneWest Bank, American Home Mortgage Servicing, Saxon Mortgage Services, and Select Portfolio Servicing on October 29, Brown requested information about:

1. The number of Pay Option ARM loans secured by residential real property located in California that they are servicing

2. Of the number of Pay Option ARM loans identified, how many have negatively amortized, and what is the average dollar amount of that negative amortization.

3. A detailed explanation of all efforts they have taken to handle customer service concerns of homeowners with Pay Option ARM loans, including any increased staffing and a description of any notices they send or are planning to send to borrowers whose loans are about to reset.

4. A detailed explanation of the loan modification plans they have developed for Pay Option ARM loans and state the circumstances under which their plans allow for the reduction of principal, and the possible amounts of principal reduction.

5. To the extent their approach for considering whether and how to modify Pay Option ARM loans has changed since the beginning of the foreclosure crisis with an explanation of the changes.

Banks and loan servicers have only until November 23rd to respond.

Loan Modifications Can Help Home Owners Now

To be successful, the current loan modification programs must expand. Principal reduction is exactly what homeowners need. Homeowners living in areas of California with sharp depreciation in housing prices don’t have enough equity in their homes to qualify for Administration’s Home Affordable Modification Program (HAMP). And the situation is even worse for homeowners with Pay Option ARMs, who now owe more on their homes than when they first took out their mortgages.

And another big problem facing homeowners is that some big lenders and servicers fail to respond to their phone calls, ask them to resubmit the same paperwork over and over again, tell them they will not be considered for a modification unless they are already in default, give no answers to their request for a loan modification and leave them with no option but try and sell their home through short sale, go through foreclosure, or file for bankruptcy.

With almost one million more Pay Option ARMs resetting within the next four years, the foreclosure crisis is going to worsen dramatically. And California is at the center of this crisis.

If there’s room for the lending industry to budge, Brown is going to find it and encourage them to take action before the housing market in California takes another nose-dive and the current recession becomes more painful for all of us.

Have questions about Short Sales or the Pay Option ARM?

Just contact me and I’ll be glad you answer your questions.

Sincerely,

Mark Shandrow
REO Broker-Associate
Shandrow Group
shandrowgroup.com

Fast Tube by Casper

Sincerely,

Mark Shandrow
Real Estate Broker
shandrowgroup.com

This home was built a couple of years ago and the former owners were the first to occupy the property. They liked their upgrades so much they took them to their new house. Take a look at what I found when I finally got into the property.

Fast Tube by Casper

Enjoy,

Mark Shandrow
Real Estate Broker
Shandrow Group

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