Shannon Jones - Long Beach Area Real Estate

If you're thinking of selling your Long Beach home and trying to choose an agent, there are a number of factors to consider. Track record, experience, and communication skills are important. But so is the agent's marketing plan and the quality of their marketing - particularly the photos.

Most home buyers begin their home search on the Internet and the first exposure they will probably have to your home is the pictures that the agent provides to the Multiple Listing Service (MLS). It's very important that there be lots of pictures -- and that the pictures are of good quality.

In the age of digital cameras, some agents will still enter listings into the MLS without any photos, indicating that photos will be coming later. What that means is that for many buyers, the first exposure to the home is without any photos. Many home buyers won't even consider your home if there are no phtos. The buyers assume there are no photos because the house is ugly or the seller doesn't want them to see it.

Sometimes there are very few photos. Again, buyers assume that's because the house doesn't have any features worth showing.

If you're interviewing agents, ask them who will be taking photos of your home and how many photos there will be. More is better.

Quality also matters. Look at the photos the agent uses in their printed marketing (flyers and postcards) as well as the MLS. Is this the way you want your home to presented?

Check out this photo that was just posted in the MLS for a Long Beach home priced at just under $1 million.

The description makes this home sound lovely. The photo makes it look dark and outdated.

Is that because the home is dark and outdated? Hard to say.

Here's another photo of the same house:

Ideally, the photos would be well lit, crisp and clear. A virtual tour or multiple views of the same space from different angle also appeal to buyers.

Check out the photos of the kitchen of a Long Beach home I currently have listed:

Note that buyers can get a good sense of the space with these kitchen shots -- not only how it relates to the rest of the home, but also how it relates to the space outside it. The shots are well lit and inviting.

Who you hire to sell your Long Beach home really does matter. Make sure that whoever you choose will represent you and your home as well as possible.

If you're wondering about home price trends in Long Beach or surrounding neighborhoods, we've got exciting news for you. Our Market Insider report will provide information on real estate trends as well as school reports, crime statistics, and more.

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Create a customized Market Insider report on the areas you care about most, and then sign up to receive FREE monthly updates. Market Insider provides home listing and sale prices, community demographics, school ratings, side-by-side neighborhood comparisons, and more!

Whether you are looking to sell and want local market data, or are thinking about buying and want to explore different homes and neighborhoods, here is a great resource for you!

To view a Market Insider report for your Long Beach neighborhood or another neighborhood that interests you, click here. You can also compare neighborhoods.

Wondering how to interpret the data or want more information, feel free to call us at 562-896-2456 or email Info@ShowMeHome.com

With so much of the current housing inventory now made up of distressed properties, I'm often asked by home buyers in Long Beach and surrounding communities, what's the difference between a short sale and a foreclosure? Doesn't the bank make the decision in both. Not exactly.

Here's a quick guide to who's who and what's what in the world of distressed properties:

Short sales - These are homes that are still owned by Jane and Joe Homeowner, regular people like you and me. Unfortunately, they are "upside down" on their mortgage (or mortgages), meaning that they are "short" on equity. Because of this, they need approval from their lender (or lenders) to sell the home for an amount that would result in paying back less than the full amount of the loan(s). With short sales, the seller has the right to list the home, choose a price, and accept an offer. Their agent then submits a package to the sellers' bank(s) that includes documentation on their financial situation (usually paycheck stubs, tax returns, bank statements, a financial budget worksheet and a letter of hardship). The package will also include listing paperwork, a contract and documentation on the buyer's ability to obtain a loan. The bank will then assess the value of the property, review the package and make a decision on whether to approve the short sale and whether the offered price is acceptable. This process can take several months. I've seen approvals in just a few weeks and have heard of them taking a year or more. Many short sales are never approved. Before my team and I show a short sale property to one of our clients, we do an assessment of the "short sale viability" to determine whether it's a situation our client would want to get involved in.

Sometimes people confuse short sales with foreclosures because short sale listings may (or may not) be in the process of foreclosure. If a Notice of Default or Notice of Trustee Sale has been recorded against the property, then time is of the essence.

Because the homeowner will get no money from a short sale, they will usually be selling the home "as is." As a homebuyer, you'll have the opportunity to do a home inspection and if you don't like what you find, you'll have a chance to back out. But you won't usually get a termite clearance and the seller won't usually do any repairs.

Foreclosures - These are also sometimes called bank-owned or REO properties. They may have even once-upon-a-time been short sales that were unsuccessful. In this case, the bank went through the process of taking the home back because the homeowner didn't pay their mortgage. In the case of bank owned properties, the transaction will be very much like a "regular sale" except that you're dealing with a bank instead of Jane and Joe Homeowner. Banks will almost always sell the property "as is" and they won't be able to disclose much about the properties because they've never lived there. In fact, they are exempt from some disclosures. Banks will frequently shorten the inspection contingency period from the usual 17 days to 7 or 10 days. In addition to the contract, you'll need to sign a bank addendum, which is usually filled with boilerplate legal language designed to protect the bank. The addendums may include terms such as per diem penalties if you're unable to close on time. Remember, you are dealing with a financial institution here and the bank is looking at the bottom line.

Probates - These are not as common in our current market as short sales or foreclosures but we do run across them sometimes. With a probate property, the owner has passed away. "Probate" is the legal process for distributing the assets. Depending on the heirs, the will, and the title, the probate property may either be sold with our without court confirmation. To buy a probate property, your agent will need to use a special probate purchase agreement and it will spell out the terms of whether or not that court confirmation is required. Your agent will check on that for you. If the court confirmation is NOT required, then the process won't be very different for you than a regular sale. You'll just need to keep in mind that again, the property will be sold in its present condition and the estate probably won't be making any repairs. If court confirmation is required, then you'll need to wait for a court date and then go to court to see if anyone comes to "overbid." You'll need to do all of your due diligence, including inspections and loan application/appraisal, prior to going to court because you'll be expected to close quickly once the court approves the sale.

If you have any questions about buying a home in Long Beach or surrounding communities, please give us a call. My team and I would be happy to help you with the process.

Recently I received a phone call from Long Beach homeowners who had just received a notice of trustee sale. With the foreclosure sale around the corner, they wanted to know if it was too late to do a short sale.

The answer? Not necessarily. We listed theirLong Beach home as a short sale, helped them select an effective pricing strategy and quickly launched an aggressive marketing campaign that resulted in three offers in just three days.

We were then able to submit a complete short sale package to our clients' bank, Bank of America, and just last week, we got the trustee sale postponed, allowing time for the bank's review of the short sale.

Hopefully, we'll be able to secure a short sale approval for these Long Beach homeowners as we have for dozens of others. For them, doing a short sale rather than simply allowing the home to go to foreclosure means they may be able to buy another home in 2-3 years -- which is their goal.

Some Realtors will not list homes when a trustee sale is already scheduled, but we are always happy to help homeowners explore their options. Yes, it is easier to do a short sale when it's earlier in the foreclosure process. And some banks have very strict deadlines with regards to submission of short sale packages prior to trustee sale dates. Each situation is unique.

If you or someone you know is facing foreclosure of a home in Long Beach or surrounding communities, we'd be happy to help you explore your options. I've been certified as a Pre-Foreclosure Specialist (PSC) and Certified Distressed Property Expert (CDPE).

If you'd be interested in a free E-Book on Fighting Foreclosure, please email Info@ShowMeHome.com and I'd be happy to send you one.

If you’re thinking about making a move in 2012, now is the time to plan for it. Typically the real estate market kicks off after Super Bowl Sunday. (on’t ask me why because I’ve never understood the connection between football and real estate – I just know it occurs every year!)

For buyers, there are two major reasons to enter this market – low interest rates and relatively low prices.

For sellers, the biggest reason to consider selling now is that buyers seem to finally getting off the fence.

One of the more popular neighborhoods in Long Beach is Lakewood Village, known for its large lots, custom homes and proximity to excellent schools, inclduing award-winning Twain Elementary School.

Four homes sold in the Lakewood Village neighborhood in January 2012 – the same number that sold during January of 2011. This year, sales prices ranged from $375,000 to $630,000, with an average sales price of $488,250. That is down from the average sales price of $583,750 for January 2011.

As of February 7^th, there are seven homes on the market in Lakewood Village, ranging from $414,900 to $875,000. Additionally, there are 10 homes in “pending” or “backup” status, ranging in price from $399,700 to $709,900.

If you’d like information on what your home is worth in today’s market, give us a call at 562-896-2456 or email Info@ShowMeHome.com and we’d be happy to provide you with a customized market analysis. You can also logon to www.ShowMeHome.com for a free Market Snapshot.