There are many listed, recommended and required REO disclosures and it’s important to ensure that we’ve covered all of the legal requirements when we list and sell REO properties in Long Beach, CA. Most of the requirements pertain only to properties, including REO properties, acquired by any lender–private or otherwise–through the foreclosure process or by deed-in-lieu of foreclosure.

If you are interested in purchasing an REO property in Long Beach, CA, following is a list of required disclosures you should receive from the real estate agent:

Advisability of Title Insurance Notice

If title insurance will not be issued to the buyer of an owner-occupied residential property with one-to-four units, a notice of the advisability of title insurance must be provided in a separate document to the buyer.

Agency Disclosure Statement

A real estate agent must provide an agency disclosure statement for a transaction involving one-to-four residential units, except certain subdivision sales. There is no exemption for an REO sale. However, if the seller or buyer refuses to sign an acknowledgment of receipt, the agent shall set forth, sign, and date a written declaration of the facts of the refusal.

Agent’s Duty to Visually Inspect and Disclose

For residential property with one-to-four units (except for certain subdivisions), a real estate agent is required to conduct a reasonably competent and diligent visual inspection and to disclose to the buyer all facts materially affecting the value or desirability of the property that an investigation would reveal . There is no exemption from this requirement for REO sales.

C.A.R.’s Combined Hazards Book

REO lenders and agents are strongly encouraged to provide C.A.R.’s 3-part Combined Hazards booklet to prospective buyers.

1. Residential Environmental Hazards booklet, which is not required for any transaction. However, the law expressly shields a seller and agent from liability by deeming delivery of the booklet as adequate in informing the buyer about common environmental hazards.
2. “Protect Your Family From Lead in Your Home,” and required for most residential properties built before 1978 (see Lead-Based Paint Hazards below), including REO sales.
3. Homeowner’s Guide to Earthquake Safety (and the Residential Earthquake Hazards Report). Although an REO sale is exempt from this disclosure requirement, delivery is highly advisable as the law deems it as adequate in informing the buyer about geologic and seismic hazards in general.

Condominium or Other Common Interest Development Documents

The seller of a condominium or other separate interest in a common interest development must provide the governing documents and other items to a prospective buyer.

Flood Insurance for Disaster Relief Assistance

If federal disaster relief assistance conditioned upon obtaining flood insurance has been provided for a property, the transferor must disclose the requirement of obtaining flood insurance to the buyer in writing.

Lead-Based Paint Hazards Disclosure

Under federal law, a seller of residential property built before 1978 must generally disclose lead-based paint hazards. The buyer must be provided with:

(1) An EPA-approved lead hazard pamphlet;

(2) A 10-day opportunity to inspect for lead-based paint hazards, unless otherwise agreed in writing

(3) A lead-based paint disclosure statement ; and

(4) A disclosure of any known lead-based paint or lead-based paint hazard in the property.

Material Facts

A seller is required to disclose any known material facts affecting the value or desirability of the property. Whether something is material or immaterial will ultimately be decided, if necessary, through the legal process by a judge, jury, or arbitrator, based on the facts and circumstances of the case.

Megan’s Law Disclosure

A residential seller must generally disclose the availability of a database of registered sex offenders in at least 8-point type font.

Meth Lab Clean-Up Order

A seller must disclose in writing to a buyer a pending order issued by a local health officer prohibiting the use or occupancy of a property contaminated by meth lab activity. The seller must also give a copy of the pending order to the buyer to acknowledge receipt in writing.

Smoke Detectors

The seller of a single-family dwelling must deliver to the buyer a written statement of compliance with the smoke detector law.

Water Conserving Fixtures

Applies only to real property built on or before Jan. 1, 1994.

Effective date for single-family residential real property is Jan. 1, 2017. Effective date for two or more unit residential and commercial real property is Jan. 1, 2014 (compliance for some) and Jan. 1, 2019 (compliance for all and disclosure).

Water Heater Bracing

The seller of any real property containing a water heater must certify in writing to the buyer that the existing residential water heater is properly braced, anchored, or strapped.

There are several other listed and recommended California REO disclosure requirements. If you require more specific  advice you should consult a qualified REO real estate agent or your attorney.

As a resident, or potential resident of Long Beach, CA, you should feel secure when purchasing an REO property. Your real estate agent should know about these disclosures and provide the required information on the forms specified by the California Association of Realtors.

If you have more questions about REO Disclosures in Long Beach, CA, 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

REO Disclosure Information Copyright© 2011, CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.)

On Monday, Ed Haldeman, CEO of Freddie Mac, released a statement outlining popular mortgage scams, their response and suggestions for identifying Short Sale floppers. In this national initiative, Freddie Mac is helping distressed homeowners take a stand against mortgage fraud companies.

Have You Been Contacted by a Foreclosure Rescue Company?

Over the last two years, more “foreclosure rescue” companies and other types of real estate “specialists,” who promise a better solution for distressed borrowers, are stepping up to take advantage of an already desperate situation by making it worse. And more recently, “floppers” are tricking banks into Short Sale fraud by selling properties for extremely low values, then flipping the homes to make a profit.

These scams often target the most troubled housing markets of the country, including Southern California. The FBI has reported an increase of 13% more cases during the first six months of 2010 vs. the same period a year-ago. Losses are estimated between $4 billion and $6 billion annually.

Homebuyers and lenders aren’t the only ones who are losing tens of thousands of dollars on each home sales. Investors, communities, and taxpayers are affected as well, losing billions of dollars every year.

What is Freddie Mac’s Solution to the Mortgage Fraud Issue?

As Short Sale scams have increased substantially in the last year, Freddie Mac is requiring an affidavit signed by all parties, to ensure the validity of the transaction. That way, a real-estate agent can’t profit by buying the property for a low price and reselling it at a much higher value. Freddie Mac has also adjusted its mortgage lending guide for many of the leading mortgage servicers, which will also improve their security against these types of transactions.

Following Freddie’s lead, Fannie Mae has also put mortgage-fraud detection operations in place. Freddie Mac’s CEO believes that the rising number of mortgage scams could possibly delay the nation’s economic recovery. Homeowners are victimized and plagued with additional uncertainty about their homes and finances, while lenders and taxpayers accrue additional losses on the scams.

How Do You Detect these Scams?

As mentioned in my earlier post on Mortgage scams in Southern California, always refuse offers from specialists who demand upfront fees, guarantee any type of quick fix result, request mortgage payments be sent to a new, non-servicer entity, or ask for possession of the title of your home.

And, never sign documents that you don’t understand.

Your best bet is to contact a licensed Short Sale Specialist, to discuss your options.

Just remember, if it sounds too good to be true, it usually is.

If you have more questions about flopping and Short Sale scams in the Long Beach area, 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

Usually, in a Short Sale, you are behind on your mortgage payments, but in the case of a strategic Short Sale, it’s possible for you to begin the process even if you are current on your payments.  However, because your home values have fallen and you still owe more than the property is worth, you’re seeking a strategic Short Sale because you wish to be free of the negative investment.

Is a Strategic Short Sale Better than a Strategic Default?

There are many differences between a strategic short sale and a strategic default.

• Although both a short sale and default will negatively impact your credit rating, the short sale will not affect it as badly as a foreclosure.
• Opting for a short sale will allow you to qualify for a new mortgage in two years instead of seven. But keep in mind, Fannie Mae released a new lending guideline that treats homeowners who strategically defaulting by enforcing the same mortgage qualification rules.
• In Short Sales, many banks, because are now willing to accept payment of a loan at the property’s current market value and consider it “payment in full.” This is preferable to them over the time and costs involved in foreclosing on the property.

Is a Strategic Short Sale Right for You?

Strategic Short Sales may not be the right choice for everyone. If you’re able to afford your mortgage, and can continue to do so over time, pushing for a Short Sale because of slight negative values in your area may not be worth it in the end. Especially if you are happy in your current home and location.  It might be best to continue making mortgage payments and wait for the market to stabilize.

But if you’ve experienced a significant drop in values, and the vacant homes surrounding your property are continuing to drive down your valuations, a strategic Short Sale might be your best option.

What is the Process for Moving Forward with a Strategic Short Sale?

Without the help of a Short Sale Specialist, the Short Sale process can be long and confusing.

A Strategic Short Sale has four main steps you must complete:

1. Hire a Short Sale Real Estate agent
2. List your home to interest qualified buyers
3. Complete the lender paperwork in the required period of time
4. Negotiate the short sale with the lender and have it approved

If you want to ensure your strategic Short Sale has the best chance of success, it’s important that you work with a real estate agent that has extensive experience in the process. If you try to get the short sale approved by yourself, without any guidance, and you are not successful, your lender might overlook your second attempt, whether you have hired a professional or not.

Remember also that without help, a Short Sale may take longer to complete than a regular sale, since lenders spend more time on figuring out the best way to manage the offer paperwork and work through the approval process.

What Do You Gain from a Strategic Short Sale?

Unlike a Strategic Default, when you choose to pursue a strategic Short Sale, you can save time, money and your credit rating, and typically be able to apply for a new mortgage to buy a home in a shorter period of time.

If you need more information about strategic Short Sales in Long Beach, 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

Unable to make good on its mortgage, The Mortgage Banker’s Association of America, has begun the short sale process for the Washington, DC Headquarters it purchased with a commercial loan in 2007. The MBAA is selling the building to CoStar for $41.3 million, just over half of the $75 million originally mortgaged just three years ago.

In October of 2009, The MBAA announced their intentions to sell 1331 L. Street because they couldn’t make loan payments on their $79 million headquarters. With a variable-rate loan mortgaged at 94.9 percent loan-to-value, the MBAA’s investor loan was just too large to manage.

Needing only 60,000 sq ft., the MBAA bought a 170,000 square foot commercial structure hoping to rent the remaining space out to other tenants. The plan didn’t work. Paying only $4400 per month for each space, the MBAA could only fill about 15% of the extra space.

The MBAA has been known for criticizing homeowners and investors who end up in foreclosure. When asked about what borrowers should do when their mortgage debt exceeds their home’s current value, ex-President Jonathan Kempner said they should continue to make payments, if only to send a moral message of personal responsibility to their children.

I guess it’s easier to pass judgment on others when you feel you’re above the situation yourself. If you asked him today, his answer might be quite different.

Well, at least they did one thing right. When they knew they were in some financial trouble, they contacted a Short Sale Specialist.

I hope you do the same.

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

Depending on your specific circumstances, there are certainly advantages and disadvantages to both.

While you can stay in their property for up to four months during the foreclosure process before being forced to vacate, essentially rent free, that alone does not mean a foreclosure is better.

With a Short Sale, generally listed for sale through MLS, home buyers make appointments to view your home, Short Sale agents may hold open houses and, in general, your life will be disrupted, all in the hopes that a buyer will quickly buy your home.

How is Your Credit Affected in a Short Sale?

If you are more than 59 days late when you complete your Short Sale, the effect of the Short Sale on your credit report could be identical to that of a foreclosure. The mark on your credit will appear as a pre-foreclosure in redemption status, which could result in a loss of 200 to 300 points. This means if your previous FICO score was 720, it could fall from 520 to 420.

Fair Isaac released a report how your credit scores are affected, whether you does a short sale or foreclosure. Fair Issac says the average points lost on a FICO score are as follows:

• Your mortgage payment is 30 days late: 40 to 110 points
• Your mortgage payment is 90 days late: 70 to 135 points
• Your home is in Foreclosure, Short Sale or Deed-in-Lieu: 85 to 160
• You have declared Bankruptcy: 130 to 240

How is Your Credit Affected in a Foreclosure or Deed-in-Lieu of Foreclosure?

If you’re past the point of selling your home with a Short Sale, you’ll probably take a hit of 200 to 300 points, depending on overall condition of your existing credit. This means if your FICO score before foreclosure was 680, it could drop as low as 380.

How Long Do You Need to Wait Before You Can Buy Another Home

After Foreclosure or Deed-in-Lieu of Foreclosure

If you want to buy a new home after foreclosure, you may end up waiting about 24 to 72 months before a lender will offer any kind of interest rate that you can afford. In regards to your finances, it might be better to wait the full 5 – 7 years before signing up for a new mortgage or loan.

After Short Sale

Some agents say the good news for short sale sellers is the wait is much shorter before buying another home, and Fannie Mae guidelines in 2008 adopted new procedures.

Can you buy again in less than two years? Consensus seems to be, “No.” Fannie Mae guidelines now require only a 24 month waiting period, which good news for homeowners.

FHA adopted guidelines in 2010 saying if you are current and complete a short sale, you may qualify to immediately buy another home. And Fannie Mae guidelines allow you to immediately apply for a new loan to buy another home if you kept the payments current, had no delinquencies exceeding 30 days and did not agree to repay the debt relief.

So What’s the Right Decision? Foreclosure or Short Sale?

If you’re a seller trying to decide whether to let a home go through foreclosure versus attempting a Short Sale, from what I’ve seen in my own brokerage, there is less damage to a credit report after a Short Sale involving late pays than a foreclosure.

Additionally, another advantage is the ability to buy another home within 2 years over the 5- to 7-year waiting period required for foreclosures. And there are other Short Sale advantages over a foreclosure.

If you’re still not sure, the best thing you can do is contact a Short Sale Specialist before making a decision.

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 in all, it was a great REO conference and a fantastic chance for me to catch up with a lot of my colleagues. As REO Real Estate Agents, we tend to get caught up in the work and don’t get as many opportunities to take some time and an reconnect. I can’t believe it has already been a year since the last one.

Time flies.

The information exchange is by far the best part of the conference. I am immediately implementing the following ideas:

1.  Weekly property inspections reports and phone calls to ALL sellers for ALL properties.    This is a hot idea because we are going to create our own branded report.   This will be a report that is “above and beyond” the expected service level.  Also, we are going to start using an outsourcer to negotiate our short sales.   I found a KILLER negotiator and will give more updates as we test this new system out.

Another great addition was the First Annual Pinnacle Awards, in which REO Insider surveyed more than 3,200 real estate professionals in January of 2010, and captured comprehensive data on the REO industry based on the performance of more than 50 REO brokerages, banks, and property valuation providers.

It was great to take part in this survey and give my opinions about how the industry is changing. I also had a great time at the Awards ceremony.

Here’s a short list of some of the 2010 Pinnacle Award winners:

• Best Overall, Big 4: Wells Fargo (Premiere Asset Services)
• Best Overall, Bank Servicer: 1st place – OneWest Bank;
  2nd place – SunTrust Bank
• Best Overall, Non-Bank Servicer: 1st place – Freddie Mac/HomeSteps;
  2nd place – Select Portfolio Servicing
• Best Overall, Outsourcer: 1st Place – Phoenix Asset Management;
  2nd place – First Preston Management
• Best Closing Process, Servicer: 1st Place – OneWest Bank;
  2nd place – Premiere Asset Services (Wells Fargo)
• Best Closing Process, Outsourcer: 1st Place – Phoenix Asset Management; 2nd place – Green River Capital

Luckily, I’ve had the opportunity to work with many of these outsourcers and servicers. I’ve also had the opportunity to work with many of the REO Expo speakers at one point or another.

The REO Expo is a great opportunity for anyone involved in the REO industry to meet colleagues, create new partnerships and learn about some of the newest REO training programs.

And they just keep making it better.

Anyway, back to work.

I hope to see you there next year!

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 REO Expo Logo is a registered trademark of REO Expo.

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

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

Call Today to Schedule a Personal Tour

Or—NEW!—Make an offer online NOW!

Address: 1424 S. New Hampshire Ave. Los Angeles, CA 90006-4510

Home Type: Historic single-family, single-story, BANK-OWNED

Price: $369,900

Square Feet: 1,281 sq. ft.

Lot Size: sq. 4,150 sq. ft.

Rooms: 3 bedrooms, 2 baths

Year Built: 1907

Extras:

Newer windows and roof
Central heating/cooling air
Recently renovated kitchen and bathroom
Recently refurbished hardwood floors and fixtures
Secure private driveway
Close to local entertainment, museums, dining and shopping
Close proximity to public transit

Neighborhood: Historic Mid-City Wilshire
The spacious, 3-bedroom, 2-bath vintage architecture dwelling is nestled in the Wilshire region’s Mid-City district, one of Los Angeles’ most diverse and affluent areas. The Mid-City neighborhood, once home to singer-songwriter Ray Charles, is the also site of several famous historical landmarks, including St. Elmo Village and the bustling Miracle Mile.

Walking-Distance Access to Art, Culture and Entertainment
A bonus for Mid-City residents is the within-walking-distance convenience of shops, restaurants and museums and cultural attractions, including the Page Museum, the Los Angeles County Museum of Art and the La Brea Tar Pits. Each is an integral part of the Mid-City bordering Miracle Mile District. The popular one-mile Miracle Mile commands a high-rise and boutique lined, vibrant section of Wilshire Boulevard between Fairfax and La Brea Avenues. Other close-by destinations are The Grove, an upscale shopping and entertainment complex, and the quaint Los Angeles Farmers Market.

Striking Architecture and Historical Preservation
This historical Mid-City home is nestled among some of the city’s most magnificent traditional residential architecture. The area is currently benefiting from a full-swing historical preservation movement.

School District: The Los Angeles Unified School District
This turn-of-the-century bank-owned home is zoned for schools in the Los Angeles Unified School District.

Elementary: Magnolia Avenue Elementary

Middle School: Berendo Middle School

High School: Joseph Pomeroy Widney High School

This Mid-City property is only one of dozens of great investment bank-owned homes for sale on the Shandrow Group’s exclusive (and ever-growing!) list. Call us today at 562-364-9505 to access some of Southern California’s hottest bank-owned homes for sale—BEFORE they come on the market.

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

Sincerely,

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

For More Photos Click Here

Price: $204,900

Call to Schedule a Personal Tour

Address: 626 W. 110th St., Los Angeles, CA 90044

Home Type: Single-Family Traditional, Single-story

Square Feet: 1,176

Lot Size: 5,002

Year Built: 1925

Rooms: 3 bedrooms, 2 baths

Outdoor Extras: Secure fence; located on a very nice street; detached 2-car garage; long driveway optimal for RV parking, great stucco/wood home exterior

Indoor Extras: Decorative living room fireplace; floor furnace heating, hardwood and vinyl tile floors

BUY BANK-OWNED AND SAVE BIG!
As with all of the Shandrow Group’s bank-owned property listings, the 3-bedroom, 2-bath abode on 626 W. 110th St. in Los Angeles presents a spectacular investment opportunity for both real estate investors and families.

One of the many advantages of buying a bank-owned home is the high likelihood of the bank paying all closing costs and minor fix-ups. Remember, banks are willing to do whatever is necessary to entice well-qualified buyers to move in in order to limit their losses and unload the home as soon as possible.

If you have any questions or concerns about buying a bank-owned property (also known in the real estate industry as an REO), please contact the Shandrow Group today. We’re here to help you find your dream home now.

This bank-owned, single-family stucco and wood traditional 1920s era home is situated in on a charming street between Vermont Avenue and Figueroa Street.

It’s a prime location for busy commuters, offering immediate access to the 110 and 105 Freeways, as well as nearby access to the 405 Freeway.

ACCESS TO LAUSD SCHOOLS
This home is zoned to the following Los Angeles Unified School District institutions:

Washington PC
Gompers Middle School
Locke Senior High School

GET VIP ACCESS TO MORE BANK-OWNED HOMES LIKE THIS ONE NOW!
This property is only one of dozens of bank-owned and foreclosure properties 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