Long Beach Real Estate-Long Beach Condos

The recent events in the sub-prime market have raised the bar on obtaining financing.  Buyers are most likely  going to have to cough up a few bucks to buy anything, unless they have great credit scores and history.  This is great news for Long Beach landlords.  You are not going to have any problems filling up those vacant Long Beach units.  We may actually have housing shortages in some areas. 

It is natural that tenants become first time home-buyers.  Not right now folks!  Unless they have a decent down payment, its just not going to happen, equating to long term tenants.  With so many foreclosures on the horizon, the displaced owners will require housing, increasing rental housing demands. 

Supply and Demand

When supply is down, demand is up.  Rents are going to begin to increase with the demand for available housing.  Who knows, maybe the rents will actually begin to justify the absurd recent prices on some of the investment properties recently and currently on the market.  It may not be a bad time to look into purchasing a reasonably priced Long Beach Investment Property, if you can find one.

The recent re-development in Downtown Long Beach has created a lot of available but not so affordable housing.  Lets face it folks, if these people cant afford to buy, or are coming out of a foreclosure, they are looking for rentals they can afford.  With more high rise development on the way it raises the question, where is the affordable housing? 

In Downtown Long Beach, affordable rental housing can be found in the Willmore City Historic District and in the East Village Arts District.  Alamitos Beach is still affordable but gets a little pricier, rentals in Belmont Heights and other Long Beach CA Beach Communities have stayed surprisingly reasonable.  The Circle area, Bixby Knolls, California Heights, Wrigley Heights, North Long Beach, Lakewood, Signal Hill and Signal Hill neighborhoods are likely contenders for housing the coming demand.  If you have been contemplating the purchase of Long Beach Income Property, now might be a good time to think about putting that plan into action. 

If you currently own Long Beach units and have been contemplating upgrading them, now is the time.  Upgraded rental units command higher rents and are always in demand. 

Do you have Long Beach Income Property that you would like to sell?  Are your rents anywhere near todays current market?  If not you might want to consider restructuring your business plan and raising your rental income to support your asking price.  Income property sells based on GRM (Gross Rent Multiplier).  In plain English, your rents must support your selling price or your buyer will not be granted a loan.  Sure, you can wait for a buyer with a lot of cash, but you are going to wait a long time.  A buyer with a lot of cash is most likely going to split that cash up and buy multiple units.  If you price your Long Beach property to sell, and your rents support your price, you should be able to sell. 

I am highly experienced in the purchase and sale of Long Beach Income Properties.  Please call if you need any assistance or advice. 

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