Long Beach California Real Estate Sales

Long Beach California Real Estate Sales Update

January - April 2008

The real estate market in Long Beach has begun to shift.  We have witnessed a steady rise in homes and condos for sale in Long Beach since the beginning of the year, as is witnessed by the chart provided.  Buyers who have been waiting out the real estate market hoping to get that incredible deal are now buying those Long Beach homes and condos they have been wanting. 

Interest rates are still great, although lenders are tightening up on lending standards.  It is getting more difficult to procure a home loan unless your income and credit scores are high, your credit history is good and your debt ratio is low.  As we progress into the summer months lending standards will become even more stringent.   

• Long Beach Mortgage Rates Reports

If you are one of the consumers who has been sitting on the sidelines waiting for Long Beach real estate prices to drop before you begin your buying process, you might want to speak to a mortgage lender pretty soon.  Run your credit, find out if you qualify for a home loan sufficient to make that purchase.  You may also decide to go ahead and buy now while Long Beach prices are low, some concessions are still being granted and home loans are still available to consumers with less than pristine credit. 

• Long Beach Homes & Condos-7 Steps to Pre-Home Purchase Preparedness 
• Buying Your Long Beach Home - Getting Started 
• Long Beach Home Search-Where do I start? 
• New FHA Loan Limit For Long Beach Homes
  
• Long Beach Homes - To Buy or Not To Buy? 
• Long Beach Homes and Condos - Negotiating Your Offer 
• Long Beach Home Ownership - 1st Time Home Buyers and The American Dream 

 Real Estate Sales in Long Beach California - 2008 - Year to Date

• Long Beach Homes and Condos Market Report-Jan-Dec Home Sales 2007 
• Long Beach Income Property Market Report-January-December 2007-Including Signal Hill 
• Downtown Long Beach Stock Co-operatives 

There are many REO (Real Estate Owned) or bank owned homes and condos on the market in Long Beach.  There is a huge demand for these homes, especially the nicer ones, and many are receiving multiple offers and selling quickly.  When a bank, or a seller, receives multiple offers, they generally are not willing to grant much, if anything, in the way of concessions, which means the buyer is paying a higher NET price. 

Recently many home sales have been at or near full price with minimal contribution, if any, toward closing costs.  Some bank owned properties, which have sat on the market, have been successfully negotiated at considerably lower prices.  Most of these have been purchased by contractors or other professionals who know how to make the necessary repairs and upgrades at minimal cost.  First Time Buyers do not have the after purchase cash to bring these homes up to standard. 

• Who is Negotiating YOUR Long Beach Home Purchase or Sale 

All cash buyers are shopping and closing deals, and thier money is making waves here in Long Beach.  A seller of a Long Beach home or a bank will gladly accept a cash offer.  For them a cash offer means they dont have to worry about a loan program disappearing or a lender closing its doors in the middle of their transaction.  They dont have to worry about a buyers credit position changing during the course of the transaction or the lenders guidlines changing and precluding the buyer from the loan program midstream.  They know that an all cash purchase has an excellent chance of actually closing escrow.  Many escrows have not been successfully closing here in Long Beach, especially those with 100% financing programs involved, which makes the all cash buyer - or the buyer with a large down payment very attractive to a seller.  Sometimes a seller will accept a slightly lesser offer for the assurances an all cash deal can provide.  Money talks¦

Home sales in Long Beach are on the incline, prices are down, interest rates are still great; now is a good time to buy.

• Home Buyer Tips - Dont Make Any Major Purchases
• Home Buyer Tips - Changing Jobs Affects Your Ability to Purchase a Home
• Home Buyer Tips - Things to Avoid Before Purchasing a Home 

Learn About Long Beach California:

• Relocating to Long Beach California-Resource Guide 

Call Laurie today to begin your home buying process.

• Long Beach Homes For Sale $300,000 to $400,000
• Long Beach Homes For Sale $400,000 to $500,000
• Long Beach Homes For Sale $500,000 to $700,000
• Long Beach Homes For Sale $700,000 to $900,000
• Long Beach Homes For Sale $900,000 to $1,200,000

• Long Beach Condos For Sale $1500000 and Higher
• Long Beach Condos For Sale $1000000 to $1500000
• Long Beach Condos For Sale $900000 to $1000000
• Long Beach Condos For Sale $800000 to $900000
• Long Beach Condos For Sale $700000 to $800000
• Long Beach Condos For Sale $600000 to $700000
• Long Beach Condos For Sale $500000 to $600000
• Long Beach Condos For Sale $400000 to $500000
• Long Beach Condos For Sale $400000 to $500000
• Long Beach Condos For Sale under $300000

(562) 212-5420

Long Beach CA Real Estate




 

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Posted on May 03, 2008 19:37:51 by Laurie.Manny

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