Long Beach Mortgage Rates Report for August 29, 2008

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Weird things are happening in the mortgage-backed securities market.  Strong buying, in the 30 year-fixed rate loans, has dropped rates .25% since my last report,  The ARM rates, however, have RISEN.  A weird phenomenon, indeed.  I'm only quoting two loan programs (the others make no sense):

Mortgage rates  for August 29, 2008.  Loan amounts up to $417,000:

5/1 ARM              5.750%

30 Year Fixed      6.125%

All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751.

Short-term, this is about as good as it gets.  I think we'll see some higher rates, in the next 7-10 days, with rates coming back down to this level by the end of September.  I'm befuddled for the 3 month trend so I'll stay neutral.

MORTGAGE RATE TREND:

Next 7 days:      Higher 

Next 30 days:     Neutral

Next 3 months:    Lower? (I'm stumped)

Long Beach mortgage rates report is offered courtesy of Brian Brady.  Contact Brian for more information about a home loan or apply online.

http://www.lauriemanny.com/004274

Sunday Afternoon in Belmont Shore - Long Beach California

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Sunday Afternoon in Belmont Shore

Long Beach California

August 24 2008

 

 

Today was the most gorgeous day here in Long Beach.  Is it any wonder why we all love it here so much?  I was out showing homes today to a new buyer, when we were through I drove into Belmont Shore and up Bayshore along the canal.  It was about 5:30 in the afternoon and many people were enjoying the beach.  Adults and children alike were in the water swimming, paddling around on boogie boards, and kayaking, others were relaxing on the sand.  Small boats were slowly making their way down the canal.......it was perfection.  It is what Long Beach is all about. 

 

I parked the car, grabbed both cameras and walked onto the bridge above the canal.  The tide was high, several boats that had been out for the day weren't able to make it back under the bridge to return home were turning around to travel another route home.  People were out on the water having fun, the sun was glistening and the water was an incredible azure blue, as was the sky.  Today was a gorgeous day here in Long Beach.

 

In the background music could be heard, a 3 piece band had set up on the end of one of the docks on the other side of the bridge.  Nice background for the end to a perfect day, thanks for adding a beat to it. 

 

Residents of Belmont Shore and Naples Island were walking to the beach with sand chairs tucked under their arms planning on finishing their day off relaxing on the sand while the sun sank in our sky.  What a great way to end the day and a wonderful weekend. 

Relocating to Long Beach California-Resource Guide

 

Belmont Shore Homes For Sale

• Belmont Shore and Naples Condos For Sale
• Belmont Shore CA Homes for sale under $1000000
• Belmont Shore-Naples Homes For Sale $1000000 to $2000000
• Belmont Shore Naples Homes For Sale $2000000 and up

Belmont Shore Condos For Sale

• Belmont Shore and Naples Condos For Sale
• Marina Pacifica Condos for Sale Long Beach CA
• Bay Harbour Homes For Sale Long Beach California

 

Belmont Shore Income Properties For Sale

• Belmont Shore-Naples Island Income Properties For Sale

 

http://www.lauriemanny.com/004213

Belmont Shore Real Estate Market Report-2008-Belmont Park-Naples Island-Marina Pacifica-Long Beach California Real Estate

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Belmont Shore Real Estate Market Report

Including Belmont Park, Naples Island and Marina Pacifica

Homes, Condos and Income Properties

Long Beach California

Last Updated 8/22/2008

 

Belmont Shore boundaries: North - Broadway East - Bay Shore South - The Ocean West - Livingston Drive

Belmont Park boundaries: North - Monrovia Avenue East - Marine Stadium South - Broadway West - Bay Shore

Naples Isand boundaries: North - Belmont Park East - Marina Pacifica South - The Peninsula West - Belmont Shore

About Belmont Shore and Naples Island California

Long Beach Homes For Sale in Belmont Shore, Belmont Park and on Naples Island

 

There are currently 95 Long Beach homes for sale in Belmont Shore, Naples Island and Belmont Park.

• 2 homes are for sale between $500,000 and $600,000
• 3 homes are for sale between $600,000 and $700,000
• 10 homes are for sale between $700,000 and $800,000
• 12 homes are for sale between $800,000 and $900,000
• 9 homes are for sale between $900,000 and $1,000,000
• 30 homes are for sale between $1,000,000 and $1,500,000
• 15 homes are for sale between $1,500,000 and $2,000,000
• 7 homes are for sale between $2,000,000 and $3,000,000
• 6 homes are for sale between $3,000,000 and $4,000,000
• 1 home is for sale at $5,500,000

 

• Average Price: $1,564,786
• Average Days on Market: 114

 

Search homes for sale in Belmont Shore, Belmont Park and on Naples Island

 

• Belmont Shore-Naples Island Homes For Sale under $1000000
• Belmont Shore-Naples Island Homes For Sale $1000000 to $2000000
• Belmont Shore-Naples Island Homes For Sale $2000000 and up
• Bay Harbour Homes For Sale

 

 

 

There are currently 19 homes pending (in escrow) in Belmont Shore, Belmont Park and on Naples Island.

 

• 6 Homes are accepting Back-Up offers.
• 13 Homes are pending

 

Back-Up Offers:

• Average Price: $1,286,983
• Average Days on Market: 84

Pending Offers:

• Average Price:$1,311,130
• Average Days on Market: 81

 

 

46 homes closed escrow (SOLD) in Belmont Shore, Belmont Park and on Naples Island in 2008.

 

• Lowest Price Home Sold: $625,000
• Highest Price Home Sold: $4,450,000

• Average Price: $1,171,889
• Average Days on Market: 66

 

42 Homeowners Cancelled their Listings

• Average Price: $1,395,220

• Average Days on Market: 147

1 Homeowner Withdrew their home from the market

• Average Price $1,250,000

• Average Days on Market: 68

37 Listings Expired

• Average Price: $1,193,391

• Average Days on Market: 155

 

 

 

 

Long Beach Condos For Sale in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica

 

There are currently 23 Long Beach Condos for sale in Belmont Shore, Naples Island, Belmont Park and Marina Pacifica

• 3 for sale between $200,000 and $300,000
• 7 for sale between $300,000 and $400,000
• 3 for sale between $400,000 and $500,000
• 5 for sale between $500,000 and $600,000
• 2 for sale between $600,000 and $700,000
  
• 1 for sale at $795,000
• 1 for sale at $1,249,000
• 1 for sale at $1,495,000

• Average Price: $531,386
• Average Days on Market: 109

Search Condos for sale in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica

• Belmont Shore and Naples Condos For Sale

• Marina Pacifica Condos for Sale

 

 

 

There are currently 9 condos in escrow in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica.

 

• 7 condos are accepting Back-Up offers.
• 2 condos are pending

 

Back-Up Offers:

• Average Price: $541,628
• Average Days on Market: 113
  

Pending Offers:

• Average Price:$407,450
• Average Days on Market: 28
  

 

 

31 condos have closed escrow (SOLD) in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica in 2008.

 

• Lowest Price Condo Sold: $225,000
• Highest Price Condo Sold: $735,000

• Average Price: $513,912
• Average Days on Market: 85
  

 

18 Homeowners Cancelled their Listings

• Average Price: $535,622

• Average Days on Market: 126
  

1 Homeowner Withdrew their home from the market

• Average Price $439,000

• Average Days on Market: 39
  

 

22 Listings Expired

• Average Price: $591,895

• Average Days on Market: 182
  

 

 

 

 

 

Long Beach Income Properties For Sale in Belmont Shore, Belmont Park and Naples Island

 

There are currently 21 Long Beach Income Properties for sale in Belmont Shore, Naples Island and Belmont Park.

 

• 10 are duplexes
• 6 are triplexes
• 2 are four-plexes
  
• 1 has 9 units
• 1 has 10 units
• 1 has 23 units

 

• Lowest Price: $789,900
• Highest Price: $6,950,000
  

• Average Price: $1,946,614
• Average Days on Market: 138
  

Search Income Properties for sale in Belmont Shore, Belmont Park and Naples Island

 

• Belmont Shore-Naples Island Income Properties For Sale-Long Beach Real Estate

 

 

There are currently 3 income properties in escrow in Belmont Shore, Belmont Park and Naples Island.

 

• 2 income properties are accepting Back-Up offers.
• 1 income property is pending.

 

Back-Up Offers:

• Average Price: $881,500
• Average Days on Market: 124
  

Pending Offers:

• Average Price:$1,699,000
• Average Days on Market: 142
  

 

 

12 income properties have closed escrow (SOLD) in Belmont Shore, Belmont Park and Naples Island in 2008.

 

• Lowest Price income property Sold: $849,500
• Highest Price income property Sold: $3,500,000

• Average Price: $1,734,041
• Average Days on Market: 135
  

 

5 income property owners Cancelled their Listings

• Average Price: $1,226,560

• Average Days on Market: 246
  

1 income property owner Withdrew their property from the market

• Average Price $849,500

• Average Days on Market: 0
  

16 Listings Expired

• Average Price: $1,214,306

• Average Days on Market: 218
  

 

 

*All statistics are as represented by the MLS and are not to be interpreted as the representations of the author.

http://www.lauriemanny.com/0041D6

Long Beach Mortgage Rates Report for August 15, 2008

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Mortgage rates were stable this week.  ARM rates went up and the fixed rate mortgage rates are the same as they were Monday.  I mentioned that traders felt "stuck in the middle" of conflicting data.  Core inflation is rising but oil prices are falling like a rock off a cliff.  I'm as confused as the mortgage bond traders so I'm taking this opportunity to lock rates for loans closing within 30 days. Why?  I think the rising ARM rates suggest that traders believe, in their hearts, that the Fed will tighten before Thanksgiving.  I'm more about mitigating risk rather than pouncing on opportunity so when I'm confused, I lock mortgage rates.  Maybe the descent in oil prices will continue and mortgage rates decline further but "I ain't seeing it" from my ivory tower. Long Beach Mortgage rates for August 15, 2008.  Loan amounts up to $417,000: 3/1 ARM              5.750% 5/1 ARM              5.750% 7/1 ARM              6.000% 10/1 ARM            6.250% 30 Yr Fixed          6.375% All rates offered to the borrower with 1 point cost.  Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification.  Rates are subject to fluctuation.  Custom rate quotes and rate lock advice are available by calling (858)-777-9751. MORTGAGE RATE TREND:   Next 7 days:      Neutral  Next 30 days:     Neutral Next 3 months:   Neutral Long Beach mortgage rates report is offered courtesy of Brian Brady.  Contact Brian for more information about a home loan or apply online.

http://www.lauriemanny.com/004110

Downtown Long Beach Real Estate Sales-Market Report

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Downtown Long Beach Real Estate Sales-Market Report

 

Homes, Condos, Coops, OYOs, Income Properties

 

Updated 8/11/08

 

 

 

Downtown Long Beach Homes

There are 28 Downtown Long Beach Homes For Sale ranging in price from $184,900 to $1,300,000.

4 homes are for sale under $200,000

4 homes are for sale between $200,000 and $300,000

7 homes are for sale between $300,000 and $400,000

5 homes are for sale between $400,000 and $500,000

Average Price:  $432,110

Average Days on Market:  140

There are 2 Downtown Long Beach Homes pending in escrow

1 @ $219,000

1 @ $275,500

Average Price:  $247,250

Average Days on Market:  53

3 Downtown Long Beach Homes have closed escrow in 2008.

1 @ $184,000

1 @ $330,000

1 @$355,000

Average Price:  $289,666

Average Days on Market:  8

Downtown Long Beach Condos, Coops and OYOs

There are 182 Downtown Long Beach Condos For Sale ranging in price from $75,000 to $2,699,999.

Average Price:  $410,332

Average Days on Market:  99

There are 14 Downtown Long Beach Condos in escrow accepting Back-Up offers.

Average Price:  $288,750

Average Days on Market:  79

There are 24 Downtown Long Beach Condos Pending in escrow. 

Average Price:  $255,854

Average Days on Market:  95

84 Downtown Long Beach Condos have sold (closed escrow) in 2008.

Average Price:  $325,239

Average Days on Market:  88

Downtown Long Beach Lofts

There at 30 Downtown Long Beach Lofts For Sale ranging in price from $244,990 to $875,000.

Average Price:  $548,656

Average Days on Market:  168

There are no Downtown Long Beach Lofts in escrow at this time.

8 Downtown Long Beach Lofts have sold (closed escrow) in 2008. 

Average Price:  $559,812

Average Days on Market:  139

Downtown Long Beach Income Properties

There are 45 Downtown Long Beach Income Properties For Sale ranging in price from $225,000 (duplex) to $1,999,999 (18 units). 

Average Price:  $735,611

Average Days on Market:  119

5 Downtown Long Beach Income Properties are Pending in escrow.

Average Price:  $506,940

Average Days on Market:  62

15 Downtown Long Beach Income Properties have sold (closed escrow) in 2008.

Average Price:  $741,706

Average Days on Market:  111

 

 

Call Laurie to view Downtown Long Beach Properties

Laurie knows Downtown!

http://www.lauriemanny.com/0040C8