Where can I find a realtor with experience in Short Sales in Long Beach? Thanks!

Asked by Nancy, Los Angeles, CA Sat Sep 1, 2007

Preapproved, looking for condos close to beach

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10
Maggie, your…, , Long Beach, CA
Sun Sep 2, 2007
My company Prudential California Realty specializes in short sales. Our broker, Bruce Mulhearn has been in the real estate business over 40 years and in fact has been through five downturns in the market. I personally have 20 years of real estate experience in the business. Please contact me, I live, work and play in Long Beach! I can be reached via my website below.
2 votes
Team Forss R…, Agent, Temecula, CA
Sun Dec 30, 2007
Nancy, I happen to "slightly" disagree some of the mentioned below. I do short sale listings as well and if the listing agent knows what they are doing, has experience doing it and is persistent with the banks, some great deals can be had.

I will agree though that they do not always get approved ,but if the agent has the full financial package submitted with accurate, non biased comparable sales and actives (shows the trend), you are likely to get a reasonable response or acceptance from the bank.

Do they take time??? YES, you must have a great deal of patience but if its the right house, in the right neighrborhood and there are no better deals to be had at that moment, go for it! You have nothing to lose. Everyone gains from your offer.

Here's why? 1) If you get a great deal, you win; because its likely that the house was kept in great shape (otherwise, as a agent you wouldn't have taken the listing. Any agent is not going to list a dog and still hope that a buyer will want it, let alone have the bank approve it)
2) Even if you lose patience or find another beauty (bank owned or conventional) that can close quicker, the agent wins because they have an offer to present to the bank so that they can possibly achieve an "approved shortsale status" which makes it quicker for the next person that comes along. (helping the seller get out from under that debt and keeping another bank owned off the market :)

So, as someone that handles shortsales, don't shy away from it. The worst that can happen is that you filled out a little bit of paperwork & then decided to walk away, no harm, no foul! Just because you write the offer in California, you still have 17 days to change your mind, AFTER the offer is accepted, and obviously even longer if they haven't yet accepted! :) Good Luck!

As far as auctions, they are just as squirrely. Depending on the type of auction you attend, your offer that is accepted that day as the highest bid, can still be rejected by the investors that must approve the final sale, taking many days if not weeks to find out. Unless of course, you bid at the reserve price.

Bank Owned are awesome because the banks are starting to keep the properties in better shape, watering lawns, painting or fixing things in some cases and answer very quick in most cases! Again, we are back to "the transaction is only as good as the agent is responsive!" If the agent has several hundred bank owned properties and doesn't answer their phone, it may take several days or weeks to get responses with those too.

Conventional sellers are always quick but unfortunately they just can't compete with the crazy decline in prices as of late. But here too, there are exceptions; if the seller has a great deal of equity and needs to move quick, you can get a screaming deal there too!

Good Luck!
1 vote
Patti Philli…, , Carlsbad, CA
Sun Sep 2, 2007
Nancy, I too. am wondering why you are wanting to look for a short sale? It is a long and tedious process, and after 30,60,90 days of waiting you still may not know if you are even going to get the property you have an offer in on!

If you are looking for "a deal" and that's why you think you want a short sale, you can find bank owned properties that may be below market value, and also some "clean sales" where someone needs to sell, they have equity in the property, and they have it priced competitively with the area short sales so they can get their sold.

If you need the names of some excellent realtors in the Long Beach area, give me a call. I am the president of Women's Council of Realtor's in North San Diego County, and I network throughout the state and nationally with women bi-monthly at our president's meetings. I know people who are top in the field that can help you, just give me a call.

I hope you find a great home at a great bargin for you!

Patti Phillips
800-680-9133
1 vote
The Hagley G…, Agent, Pleasanton, CA
Sun Sep 2, 2007
Nancy-

Why are you looking for a short sale? It can be a long tedious process and they are not always approved by the lender. The good news is, there are a lot of great deals on the market rright now and it's a great time to buy real estate.

Drive around in the neighborhoods you are interested in. Look at the for sale signs in the yards. Are there one or two agents that seem to own that neighborhood? Call them. Interview two or three agents and choose the one you are most comortable with.

If you must go with a short sale, the expeirience of the short sale with the buyers agent is not as critical as the experioence of the listing agent. If you concentrate solely on short sales, you may miss some incredible opportunities.

I say this as a Realtor, and an experienced investor. Good luck!
Web Reference:  http://www.cindihagley.com
1 vote
Lookingtobuy…, Home Buyer, Tampa, FL
Mon Mar 22, 2010
You should either contact the local association of Realtors for a suggestion based on performance and number of short sale transactions completed or use a referral company like http://www.effectiverealtors.com
0 votes
Gary Pasciask, , Long Beach, CA
Thu Nov 19, 2009
Hi Nancy,
We at ZipRealty have an excellent record of negotiating the purchase & sales of Short Sales in the Long Beach area. Please, call me, Gary Pasciak at (310) 309-9669. Or email Gary.Pasciak@ZipRealty.com.
Thank You,
Gary Pasciak
ZipRealty
0 votes
John Sefton, Agent, Long Beach, CA
Thu Jun 18, 2009
I love shopping beach condos. You should look at all possibilities, not just short sales.

Call me if you want me to take you shopping. 562-493-1779
0 votes
Nick Resendez, Agent, Cerritos, CA
Sat Jun 6, 2009
Nancy, I have been involved in 35 short sale transactions this year alone on the listing and purchase side. Experience is a must and so is your comfortability. My company Century 21 On Target offers a free short sale class on how to buy and sell short sales. We also have a free class on foreclosures. This is a service we provide to the community so that you can not only learn the process, advantages and disadvantages but also learn who you will possibly be working hand in hand with.
0 votes
Design101, , the United States.
Sat Dec 29, 2007
I agree with Patti don't waste your time buy at auction! Good Luck!
0 votes
Laurie Manny, , Long Beach, CA
Sat Nov 3, 2007
Nancy,
I am listing 2 short sales condos well under market value in Downtown Long Beach. They are both in very nice buildings and are both great units with hardwood floors, 2 bedrooms, 2 baths and 2 parking spaces in security buildings. I also know of several other very good buys right now that you might be interested in. Contact me if you are interested.
0 votes
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