Downtown Long Beach Condos Wont Sell...
4 comments »Downtown Long Beach Condos Won't Sell
...if they are overpriced.
So you wanted to sell your Downtown Long Beach Condo? Of course you hoped to sell it for the highest possible price. You followed the advice of the professionals and interviewed several Long Beach Realtors before hiring one. The lure of the agent offering the highest possible sale price was just too much for you and you went ahead and hired them. They were so positive they could get you the highest price, even made you think those other Realtors didn't know what the heck they were doing. So why are you still sitting on the market unsold?
Join the ranks of many of your peers. Looking at an average days on market of 84 days, today, per the SoCalMLS, may not get through to you quite as well as seeing the actual days on market for your competition.
Today there are 123 two bedroom condos on the market in area 4, which is compromised of Downtown Long Beach and Alamitos Beach. Many, maybe most of which are overpriced and will never sell anywhere near their current listed prices.
Here are the actual Days on Market for your bretheren:
59
63
147
58
124
145
89
19
105
107
107
34
33
99
118
107
238
225
219
62
49
0
45
52
50
166
128
128
106
27
19
27
29
219
128
25
107
107
146
71
128
79
32
107
64
84
62
107
27
82
68
62
1
0
19
238
77
133
12
22
105
79
5
130
57
11
32
21
0
155
1
46
89
22
16
28
47
49
23
86
0
50
89
14
29
27
179
78
133
44
189
12
23
189
49
68
98
110
13
110
207
266
83
43
58
175
68
223
22
204
8
7
7
113
43
59
56
198
22
76
147
26
75
Reality Bites!
They thought theirs were worth more too!
- DOWNTOWN LONG BEACH CONDO MARKET REPORT - MARCH 2007
- Selling Your Long Beach California Home? It's A Whole New Game!
- Marketing Your Long Beach CA Real Estate For All That it is Worth
- Realtors and Commissions - Why?
- How to Hire the Best REALTOR in Your Area
- Reverse Prospecting Works!
- Long Beach Real Estate - Seller Tips - Choosing Your Long Beach Realtor
- Long Beach Real Estate - Seller Tips - Preparing Your Home For Sale
- Curb Appeal On A Budget
- Remodeling Your Long Beach Home?
| Laurie MannyLong Beach Realtor (562) 212-5420 |
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Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803 |
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Over the next few days I sent letters to the owners of the one bedroom with Downtown view, 
He wanted to know if the letter was for real. We had a very nice conversation, he told me the listing agents name, fortunately I knew her. We pretty much had negotiated the sale before he informed me he had it listed already.
The buyer did not find the time to actually come in to write and sign the offer for two days, her husband was ill in the hospital and they lived a good distance from 
The next day my buyer arrived at my office in tears. She wanted this unit very badly. While driving in, her lender called to inform her that the interest rate would be upwards of 15% and that she would have to give him $10,000 under the table. This to a woman with FICO scores above 750. 
Now I had to get a new loan for her right away. It was already late afternoon. The property was going on the MLS in the morning and we were out of time, with no loan, just as sub-prime was exploding - great! I called a couple of the lenders I normally deal with, they were useless so I opened up Active Rain, got Brian Bradys phone number, gave him a call, thankfully, he answered his cell phone.
My buyer had 20% down which was leveraged against the condo she had considered selling 2 years ago. The lender, who just happens to be Americas Most Opinionated Mortgage Broker, was able to work the financing out so that there were two low interest loans, by refinancing the original condo to acquire the down payment and placing a new loan on the purchase. We were also able to negotiate some closing costs and wrap the balance into the loan, resulting in deep savings for my buyer. Not one penny out of pocket for the buyer.
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