It happens to the best of people. Whatever the reason—a bad financial decision, the sluggish economy—people sometimes find themselves in dire straits. As a result, they are forced to make hard decisions. Perhaps one of the most difficult is figuring out what to do after defaulting on mortgage payments. Often, the owner faces two options: Sell the property for foreclosure Sell it through short sale What’s the difference? The difference between a foreclosure and a short sale is simple. A property is said to be in foreclosure when the owner stops mortgage payments and the lender exercises the legal right…Read more

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As much as property owners would like to avoid foreclosure, some are unable to bounce back from their mortgage problems and are forced to go through this ordeal. South Bay residents are no stranger to expropriation. What follows is a report on how some communities in the region are doing in terms of mortgage payments and foreclosures. Manhattan Beach Six properties in Manhattan Beach have been given a Notice of Default in September 2014, making that the highest number of foreclosure filings in the area over the past year—but that’s only 0 .4% of Los Angeles County’s total. According to RealtyTrac.com,…Read more

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With more than 90% of home buyers using the internet to search for real estate, photos and videos have become a key factor when it comes to selling properties. According to studies, listings that feature a good collection of HD or high-definition photos and an in-depth virtual tour tend to do better than other listings on a real estate website. When you add HD photos and video tours to your listing, you’re giving prospective buyers a much better view of your property. They get to see all of the home’s best features, and they get to imagine themselves walking through…Read more

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While there’s no shortage of real estate agents, experienced short sale agents are harder to find. Short sale agents do a lot more than agents. They go through tons of work including negotiating with the bank, hiring contractors, and if need be, evicting occupants who won’t move out of their foreclosed homes. You would want to look for an experienced short sale expert given the responsibility they face. Here are a few tips that can help you find the ideal short sale agent: Look within the area. Certain areas may have more foreclosures rather than regular homes for sale. In…Read more

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When it comes to selling homes, home staging is a key step that can help you sell your home faster, and at a better price. Home staging is the process whereby a piece of property is made more appealing to potential buyers. With over 90% of buyers using the internet to search for real estate, home staging is that extra push that gives your property a better online presence. Advantages of professional home staging An experienced professional home stager knows exactly what to do with your home in order for it to attract more attention on the market. You’ll save…Read more

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When properties go through foreclosure and are seized by the bank, that’s when REO brokers come in. Unlike regular sellers, banks are more demanding clients. Therefore, as the bank’s intermediaries, REO brokers are tasked with making sure everything goes as smoothly as possible. That means: Overseeing inspections, maintenance, and repairs  Often times banks demand initial inspections within 24 hours of assignment. The REO broker negotiates with the city orutility company to make this possible, andcalculates the cost of hiring contractors, who bid for the job. Keeping costs to a minimum  REO brokers need to pay for contractors, processing fees, and…Read more

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Los Angeles is home to plenty of distressed homes, opening a treasure trove of opportunities for savvy homebuyers and real estate investors. Distressed properties can come in the form of: Foreclosures Short sales Real estate owned (REO) properties In this post, we’ll differentiate the types of distressed properties and walk you through the basics of buying them . 
Foreclosures What it is: It’s mortgaged property seized by a lender because of the owner’s failure to pay the principal and interest stipulated in the mortgage contract. After the property is seized, the owner is evicted and the property is listed for…Read more

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We at Nordine have an extensive real estate owned (REO) inventory. REO foreclosures don’t necessarily mean that the property is a bad investment. On the contrary, such foreclosures provide a unique opportunity for buyers and investors. In general, real estate owned foreclosures are priced below market value—making them attractive to bargain hunters, buyers on a budget, and investors. Here are 3 more advantages of buying an REO home: Transactions are easier. As the property is now in the possession of the bank, transactions are relatively more straightforward. You won’t have to deal with reluctant homeowners who might still be attached…Read more

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Home selling can be a stressful experience, especially if you aren’t quite sure what you’re doing. Hiring a listing agent is one of the best decisions you’ll make if you’re unfamiliar with the home-selling landscape. But, hold on—don’t just hire any listing agent because everyone will claim to be the best in the area. Rather, look for the qualities listed below to help you make your choice: Your listing agent should be honest and realistic. Don’t settle for a listing agent who flatters you by overestimating the value and features of your property. You want someone who will help you…Read more

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Today, every piece of information you need is online. It’s made life so much easier especially for property buyers. Searching for homes by size, price, and location alone can instantly yield a dozen choices. As a home seller, you want your property to appear in the upper reaches of those search results—for maximum visibility and the likeliest clickability. How? 
One property, one website By creating a website dedicated to a single property. Yes, just one. Not your real estate inventory, if you happen to be in the business. Not even for 2 or 3 related properties. To ensure online visibility…Read more

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