Perhaps you’re “upside down†on your house and can no longer afford your mortgage payments. Maybe you owe more than the property is worth and simply can’t refinance. Or, it may be that you still can’t handle your house payments even after modifying your loan or reducing your interest rate. Times are tight and you’re [...] Read more »
What a start to 2009!!
Wow, January was out of control for foreclosure homes in Los Angeles and Orange County, California. The Shandrow Group had the best month in our history. We listed almost 20 homes for sale and put 21 properties UNDER CONTRACT. We closed escrow on 11. Of course, I could not have done this without the help [...] Read more »
Property of the Week – Spacious Westside Long Beach Home
2880 Caspian Avenue, Long Beach, Calif. Price: $295,000 CLICK HERE FOR MORE PHOTOS Square Feet: 2,058 Lot Size: 5,865 sq. ft. Rooms: 5 bedrooms, 3 baths Extras: 2-door detached garage, partial copper plumbing, new roof, new laminate floors Located in an attractive neighborhood in Long Beach’s Westside, this exceptionally large home is perfect for large [...] Read more »
What Happened at REOMAC?
I just got back this week from the 2008 REOMAC Fall Conference in Hollywood, Florida. The event was attended by approximatley 2,000 industry people including asset managers, portofolio managers, REO brokers, attroneys and service provides. The event was more than half the size of thhe 5 Star Conference in Dallas last month. This gave the [...] Read more »
Secrets to Buying a Foreclosure-Series Intro
In this video I talk about one of the secrets to buying a foreclosure. This is going to be the beginning of a series of videos to help real estate buyers learn about buying foreclosed property. I am an REO agent. This means that I work for the banks to help them sell their foreclosed [...] Read more »
How to Buy Foreclosure Properties in Los Angeles and Orange County, California
I regularly deal with a number of large asset management companies and lenders who need to sell off their real estate owned property, often referred to as REO property. The word on the street is that most are expecting a 100% increase in the number of properties that are going to foreclosure in the next [...] Read more »
Benefits of a Short Sale Versus a Foreclosure
A great real estate agent and friend of mine, Aaron Simons, sent me this chart about the consequences of a short sale versus a foreclosure. The chart was developed by the Distressed Property Institute. I think it does an excellent job of dispelling some myths about short sales and their actual consequences to a borrower. [...] Read more »
Countrywide Takeover Will Pay Off, B of A’s CEO Says
This is a great article from the Los Angeles Times about the BofA and Countrywide merger. The most interesting point is that the CEO of BofA, Ken Lewis, thinks that the California real estate market has about another 20% drop in the not too future…I would have to agree. This is one of the first [...] Read more »
Countrywide Short Sales
I learned an interesting fact the other day from a Countywide Loss Mitigation Negotiator. These are the people that we work with when we are negotiating a short sale. This individual said that Countrywide has over 28,000 short sales in process, but only closes about 7% of these. Wow!! You know what that means? Only [...] Read more »
Tom and April Devane Give a Testimonial for Mark Shandrow
[No Auto Start]h7F7wSpvfnQ[/No Auto Start] Tom and April Devane offer a video testimonial for Mark Shandrow of Keller Williams Realty. Tom and April bought a condo in Lakewood in 2006 with my assistance. They were great to work with and had an awesome sense of humor. Best, Mark Shandorw Keller Williams Realty Read more »
New Foreclosure Law in California – SB 1137
As a result of the subprime loan market collapse, numerous bills were introduced this year in the California Legislature, including the recently enacted SB 1137. Within this highly charged political environment, the California Land Title Association (CLTA), along with trustees, escrow companies, and lender groups originally opposed this legislation, which subsequently underwent a series of [...] Read more »
Testimonial from Tom Johnson About Mark Shandrow
A great client and friend of mine, Tom Johnson, just closed on a SUPER KILLER deal on a duplex in California Heights, Long Beach, CA. It was a short sale that I was able to negotiate with Country Wide. [No Auto Start]BBqiCZ2Y1E4[/No Auto Start] Read more »
Buy and Bail . . . A New Twist On ‘Just Walk Away’
Great article from the WSJ.com. Next month, Michelle Augustine plans to walk away from her four-bedroom house in a Sacramento, Calif., subdivision and let the property fall into foreclosure. But before doing so, she hopes to lock in the purchase of another home nearby. “I can find the same exact house as what I live in [...] Read more »
LA Times Quotes Mark Shandrow of Keller Williams Realty on the Cover of the Sunday Real Estate Section
Diane Wender, Los Angeles Times Staff Writer, interviewed me a few weeks ago for a story she was putting together for the Real Estate Section of the Los Angeles Times. She used a lot of the information I provide and did an excellent job explaining the short sale process and some of pitfalls of doing [...] Read more »
