![]() |
|
|
|
![]() |
|
|
Short Sale vs. Foreclosure In Seal Beach CA ~ Old Town to Main Street
One of the toughest decisions facing homeowners in Seal Beach these days is whether or not to do a short sale.
Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work.
#1 – SELECT THE RIGHT AGENT
Like all other professions, real estate agents are not created equally! A Seal Beach short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR AGENT CAREFULLY! Choose an agent that is familiar with the process and who has successfully completed at least a couple of short sales preferably with multiple lenders. Make sure they know every step of the process and have all the tools necessary to meet the demands of the short sale lenders. This is CRITICAL and not to be taken lightly. Yes, you may have a friend or family member who is a Realtor, but that doesn’t mean they should be the one handling your Seal Beach short sale. Just think about what will happen if something goes wrong, and your home is foreclosed on… now what??
#2 – ASK THE RIGHT QUESTIONS
Most homeowners don’t know what the right questions even are, so here is a short list of things to ask. Again, if your agent can’t answer these quickly and without needing to check, move on .
“How long will this take?”
“What do I need to do while the short sale is progressing?”
“Does it matter if I have 2 different lenders?”
“How will this affect my credit?”
“Will I be subject to a deficiency judgment?”
“What are my tax consequences?”
“Does it matter if I have refinanced?”
The agent you select should immediately know the answers to these questions. If they don’t, it’s a likely a sign that they haven’t been involved in the short sale process in Seal Beach. So what do you do? Keep interviewing!! It cannot be overstated just how important this is.
#3 – MOVE OUT OR STAY
If you have a true financial hardship, most lenders will not be surprised to find out you’re still living in the property. While there are many reasons to initiate a short sale, financial hardship is generally the most common. When working with buyers, I often show short sale listings, and most of the time, the homeowner still does reside in the property. This is more common than most people think and not something to be embarrassed about. Times are tough right now, and many people are going through the same or very similar situations right here in your neighborhood.
#4 – PROVIDING DOCUMENTATION
All short sale lenders will require similar pieces of information, such as bank statements, tax returns, and pay stubs. Some lenders will require other pieces of information as well. But whatever they are asking for, it IS required. They will not review the short sale without it, so don’t think you can hide this information from them. Just provide them what they ask for in as timely a manner as possible, and let the lender decide whether or not there’s a reason to not approve the short sale.
#5 – CONTRIBUTIONS
The questions I get most often always seem to revolve around seller contributions. This is a complicated answer and not one easily addressed in a blog. As a generally rule of thumb, CASenate Bill SB 458 has made contributions from a seller illegal in an accepted short sale, but this only addresses short sales in California, not in any other state. For your Seal Beach short sale, I suggest following the link above and reading the SB 458 entirely. I would also be happy to meet with you and explain how this works logistically as part of the short sale process.
Loan modifications are usually rejected, and most lenders won’t tell you that up front. Even in the few cases that are approved, there is generally an amount pushed to the back of the loan, NOT FORGIVEN, just postponed. Most of the time, you will still have to repay your entire loan amount, just in a re-structured manner.
Foreclosures and Deed in Lieu of Foreclosure both carry serious consequences and should be avoided at all costs. Short sales are your best option when dealing with a financial hardship, and even with certain other hardships relating to your home. But make sure your agent knows how to properly navigate you through the process and has experience and success with short sales in Seal Beach.
![]() |
|
|
How Do I Start a Short Sale In Seal Beach CA
One of the toughest decisions facing homeowners in Seal Beach these days is whether or not to do a short sale.
Most homeowners don’t understand the process, but what’s even scarier is that most real estates don’t either. Many agents tend to shy away from short sales because they don’t understand how they work.
#1 – SELECT THE RIGHT AGENT
Like all other professions, real estate agents are not created equally! A Seal Beach short sale is a very complicated and arduous type of transaction, and most agents just don’t not where to begin. As a seller, YOU MUST SELECT YOUR AGENT CAREFULLY! Choose an agent that is familiar with the process and who has successfully completed at least a couple of short sales preferably with multiple lenders. Make sure they know every step of the process and have all the tools necessary to meet the demands of the short sale lenders. This is CRITICAL and not to be taken lightly. Yes, you may have a friend or family member who is a Realtor, but that doesn’t mean they should be the one handling your Seal Beach short sale. Just think about what will happen if something goes wrong, and your home is foreclosed on… now what??
#2 – ASK THE RIGHT QUESTIONS
Most homeowners don’t know what the right questions even are, so here is a short list of things to ask. Again, if your agent can’t answer these quickly and without needing to check, move on .
“How long will this take?”
“What do I need to do while the short sale is progressing?”
“Does it matter if I have 2 different lenders?”
“How will this affect my credit?”
“Will I be subject to a deficiency judgment?”
“What are my tax consequences?”
“Does it matter if I have refinanced?”
The agent you select should immediately know the answers to these questions. If they don’t, it’s a likely a sign that they haven’t been involved in the short sale process in Seal Beach. So what do you do? Keep interviewing!! It cannot be overstated just how important this is.
#3 – MOVE OUT OR STAY
If you have a true financial hardship, most lenders will not be surprised to find out you’re still living in the property. While there are many reasons to initiate a short sale, financial hardship is generally the most common. When working with buyers, I often show short sale listings, and most of the time, the homeowner still does reside in the property. This is more common than most people think and not something to be embarrassed about. Times are tough right now, and many people are going through the same or very similar situations right here in your neighborhood.
#4 – PROVIDING DOCUMENTATION
All short sale lenders will require similar pieces of information, such as bank statements, tax returns, and pay stubs. Some lenders will require other pieces of information as well. But whatever they are asking for, it IS required. They will not review the short sale without it, so don’t think you can hide this information from them. Just provide them what they ask for in as timely a manner as possible, and let the lender decide whether or not there’s a reason to not approve the short sale.
#5 – CONTRIBUTIONS
The questions I get most often always seems to revolve around seller contributions. This is a complicated answer and not one easily addressed in a blog. As a generally rule of thumb, CA Senate Bill SB 458 has made contributions from a seller illegal in an accepted short sale, but this only addresses short sales in California, not in any other state. For your Seal Beach short sale, I suggest following the link above and reading the SB 458 entirely. I would also be happy to meet with you and explain how this works logistically as part of the short sale process.
Loan modifications are usually rejected, and most lenders won’t tell you that up front. Even in the few cases that are approved, there is generally an amount pushed to the back of the loan, NOT FORGIVEN, just postponed. Most of the time, you will still have to repay your entire loan amount, just in a re-structured manner.
Foreclosures and Deed in Lieu of Foreclosure both carry serious consequences and should be avoided at all costs. Short sales are your best option when dealing with a financial hardship, and even with certain other hardships relating to your home. But make sure your agent knows how to properly navigate you through the process and has experience and success with short sales in Seal Beach.
![]() |
|
|

Orange County California Bank Foreclosure Report
Results from the June 7th 2011 Trustee Sale
The following homes, condos and multi-unit properties were taken back by the bank, and are officially foreclosures. So over the next few months the banks will begin to place these properties on the market for sale as an active listing for sale with a broker.
| County | Address | City | Property Type | Beds | Baths | SqFt | Lot Size | ||
| ORANGE | 134 S MAGNOLIA AVE 3C | ANAHEIM | Condominium | 2 | 2 | 986 | 0 | ||
| ORANGE | 1860 W GLENOAKS AVE R | ANAHEIM | Condominium | 2 | 1 | 876 | 0 | ||
| ORANGE | 3075 TAYLOR WAY | COSTA MESA | Single Family | 4 | 2 | 1405 | 6150 | ||
| ORANGE | 33931 VIOLET LANTERN ST | DANA POINT | Single Family | 3 | 2 | 2007 | 4620 | ||
| ORANGE | 321 N FONDA ST | LA HABRA | Single Family | 3 | 2 | 1210 | 7371 | ||
| ORANGE | 14 SMOKE TREE DR | MISSION VIEJO | Single Family | 0 | 0 | 0 | 0 | ||
| ORANGE | 24 CALLE DE VIDA | RANCHO SANTA MARGARITA | Condominium | 0 | 0 | 0 | 0 | ||
| ORANGE | 26266 OCEANA CT | SAN JUAN CAPISTRANO | Single Family | 2 | 1.5 | 1310 | 2037 | ||
| ORANGE | 2010 E 1ST ST 160 | SANTA ANA | Condominium | 0 | 0 | 0 | 0 | ||
| ORANGE | 2042 E WELLINGTON AVE | SANTA ANA | Single Family | 2 | 2 | 1141 | 3444 | ||
| ORANGE | 925 COASTLINE DR | SEAL BEACH | Single Family | 3 | 2 | 1561 | 0 | ||
You can also follow me on Twitter for daily updates on newly acquired bank owned properties within the cities of Long Beach, Rossmoor, Los Alamitos, Cypress and Seal Beach plus links to articles dealing with the real estate market.
Interested on being posted when new bank owned properties hit the market for sale?
Call me if you are! My system is set up to email you a list of homes for Los Angeles and Orange County regarding new bank owned properties hitting the market place. These lists are sent to you directly and you will not receive any other correspondences from me unless you request for additional information.
To start receiving your foreclosure list email me at: GGasparRE@Yahoo.com and ask to receive the "Active Foreclosure List" and I will place you on it. If you have any other questions please feel free to call or text me directly at (714) 612-0995.

The data being provided is for informational purposes only. Reasonable efforts have been made to produce accurate information which was collected from county sources. Service where data obtained from is ForeclosureRadar.com
![]() |
|
|
Seal Beach recently celebrated its 95th birthday. The town has been celebrating in different ways. it started October 2 with a dinner dance and continued last week with a Tennis Mixer, Golf Tournament, concert by the pier, sidewalk sale on Saturday and Greenbelt Festivities and parade on Sunday.
The events continue this week with an Historic Slide Show from 7:30 to 9:30 pm on Wednesday, October 20 at the Red Car Museum.
To many, Seal Beach is known as the Mayberry by the Sea. These festivities demonstrate Seal Beach's small town feel. In an area surrounded by larger cities like Los Angeles, it's nice to come to a small town like Seal Beach and get a piece of Small Town USA. Even when Seal Beach is not celebrating it's birthday, you can't help but love this small town as you walk down Main Street. It's can be fun to pick up one of the Sun newspapers and read the police log. When reading the police log, you get a real feel of just how minimal the crime here is and how fortunate the residents are in Seal Beach.
Happy Birthday Seal Beach. May you have many more but just keep your small town charm.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved