02.20.2012
ABO Real Estate
Just because your home is upside down doesn’t mean you cant sell it. Short Sales allow you to sell your home for less than you owe without taking a credit knock out. For more information call ABO Real Estate Services at (909) 886-4123.
(Yucaipa, Calif.) Facing a mortgage rate that has you in financial hardship or even worse, foreclosure? With foreclosures continuing to increase in California, many people are worried and are seeking answers to difficult questions.
The Inland Empire’s, ABO Real Estate Services is providing troubled homeowners with options to save their homes and avoid foreclosure. With more than 15 years of experience, ABO Real Estate’s experts are ready to assist with alternatives for those unable to obtain a loan modification, such as short sale, which can help them to get back on track and qualify for a new home in as little as two years.
“Many families have tried to obtain a loan modification from their bank and have not been approved, when that happens many people don’t know what to do. In many cases, a short sale can be a great alternative,” said Jack Katzman, president, of ABO Real Estate Services.
A report released by RealtyTrac states that pre-foreclosure sales (short sales) have increased in California by 38 percent. These statistics suggest that banks are increasingly trying to work with distressed borrowers and unload properties before foreclosure.
In fact, the short sale option has led the way in many bank’s willingness to sell a property for less than the mortgage balance to avoid foreclosing properties.
“An increase in short sales, along with a shorter average time to sell such homes and bigger discounts relative to normal deals, indicate the market is clearing distressed properties more efficiently,” said RealtyTrac, Chief Executive Officer James J. Saccacio.
A short sale is a sale of real estate <http://en.wikipedia.org/wiki/Real_estate> in which the proceeds from selling the property will fall short of the balance of debts secured by liens <http://en.wikipedia.org/wiki/Liens> against the property. In many cases, the property owner cannot afford to repay the liens’ full amounts, so the mortgage company agrees to release their lien and accept less than the amount owed on the debt.
Any unpaid balance owed to the creditors is known as a deficiency. Often short sale agreements release borrowers from their obligations to repay any deficiencies of the loans.
However, Katzman points out that short sales will not work if there is sufficient equity in the home for the lender to sell it and at least break even in a foreclosure. The homeowner must be “upside-down” in their loan or owe more that the home is worth. He also cautions that after a foreclosure, homeowners may still need assistance in securing a home.
“Many rental agencies and property owners will not rent to people with a foreclosure on their record. We work with property owners who understand that good people sometimes have problems and will rent to former homeowners who have gone through a foreclosure of their home,” said Katzman.
To get more information about short sales and how to avoid foreclosure, call ABO Real Estate Services at (909) 886-4123.
03.22.2011
ABO Enterprises
A new property center opening April 1 at 12872 California St., Yucaipa will handle commercial and residential real estate needs throughout the Inland Empire and beyond. Photo by Chris Sloan
(SAN BERNARDINO, Calif.) “We will handle the Inland Empire’s small business and residential real estate needs, from Pomona to Palm Desert, and from Victorville to Temecula,” said Jack Katzman, owner of ABO Enterprises, Inc.
A commercial real estate center opening April 1 at 12782 California St. in Yucaipa will help small business owners find the right amount of office space to serve their clients effectively, and will match rental property owners with great tenants.
ABO Enterprises, Inc. already owns and leases more than 600 offices from its headquarters in San Bernardino. ABO Enterprises, Inc. also leases office space on behalf of owners of other buildings.
At its new California Street office, ABO Enterprises, Inc. is opening a new division, ABO Real Estate Services. This new division will offer commercial and residential property management, including site management of apartment complexes, commercial and residential property leasing and property maintenance and repairs.
Another division of ABO Enterprises, Inc, SMA Construction, Inc., will also operate from the same location. This company renovates office buildings and homes.
ABO Enterprises, Inc. will offer conventional office space for lease, starting at $200 a month. It also will offer mailbox service for $20 a month and virtual offices for $75 a month.
Mailboxes and virtual offices serve both small business owners who are working from home, and larger business owners who have offices in other cities, need a satellite office to better serve their clients, but may not have the resources to staff another office.
“A mailbox gives them a corporate address and a local phone number,” Katzman explained. “We will collect their mail and answer the phone for them, so they don’t have to miss contacts if they are unavailable.”
“With a virtual office, business owners actually have an office here for eight hours a month,” Katzman said. “When they need to be here, they will have a place they can come and work, with a secretary, high-speed internet access, and the ability to install their own phone line. They also will have access to a conference room and restrooms.”
A conventional office provides not just a place to work full-time and a secure office, but on-site security and janitorial services. Conference rooms and restrooms are in each office suite.
“We have the lowest prices in all of California,” Katzman said. “If anyone can find an office at a lower advertised price, we’ll lease it to them for that price.”
Anyone who is leasing an office from ABO Enterprises, Inc. doesn’t have to worry about it changing owners.
“We buy large, empty buildings, renovate them and lease them, but we never sell the buildings we own,” Katzman said. We will be here to serve our tenants for the long term. We provide them with quality service that isn’t going to go away.”
To learn more about the mailboxes, virtual offices, conventional offices and other real estate services available through ABO Enterprises, Inc. call (909) 886-4123.
ABO Enterprises, Inc. has met the real estate needs of small business owners since 1999. It owns more than 600 offices in buildings throughout Southern California. ABO Enterprises, Inc. also provides real estate services including property management, purchase and leasing, and property maintenance and renovation.
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