I completed my first short sale in The Meridian in 2008. As with all short sales it was a win, win, win as it alleviated the seller from 2 years of anguish. It basically gave the buyer a coupon worth @$110,000 as a unit in the same line sold for $150,000 more within two months of his purchase. I'm discounting @ $40,000 because this unit was on a higher floor. The buyer naturally was ecstatic. The bank also was pleased to not have to be in the business of foreclosing and reselling in a downward spiraling market.
Currently there is another short sale in a prominent Long Beach Building. Everyone in Long Beach is familiar with the Ocean Club as it is located on the Hottest Strip in Long Beach. All the Buildings from Edwards to Laurelton are prime buildings-Avalon Towers, White Sands, Allegria Hotel, Ocean Club, Renaissance, Breakers, and The Meridian.
This short sale is a one bedroom duplex with gorgeous south east ocean views from both floors. It's quite large with an alcove area suitable for an office or a nursery. The bedroom is very large with expansive ocean views and has 3 closets including a walk-in closet. The kitchen has stainless steel appliances, new cabinets and granite counter tops and granite backsplash. Living Room/Dining Room has hardwood floors. Your guests may use your powder room while you maintain your privacy downstairs with an office, bedroom, and full bath with a double sink.
If you're looking for a Steal of a Deal look for short sales, REO's, and foreclosures.
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