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Oct
17


Long Beach California Luxury Home Market Update

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Long Beach California is home to the West Coasts most affordable beach real estate.  Set in sunny Southern California we enjoy moderate temperatures year round, sweet ocean breezes and a resort atmosphere.  With our purchase prices so reasonable is it any wonder snowbirds are flocking here?  Palm Desert, 2 hours inland, is fantastic, but nothing compares to luxury oceanfront property and the beach is just more fun!

Long Beach has an endless array of entertainment to suit any lifestyle or age from water-sports to nightlife, theater and fine dining.  This is the perfect place to do everything, do nothing or to just go fly a kite!


Yes we have golf courses!  Long Beach is centrally located making access to all Southern California golf courses just a short drive.


Long Beach is conveniently located just 20 minutes south of Los Angeles International Airport (LAX), 20 minutes north of John Wayne Airport (SNA) in Irvine, and home to our own Long Beach Airport – which we love.  We are also just a 20 minute drive into Downtown Los Angeles – in case you were thinking about catching a Lakers game; attending a concert at the fabulous Staples Center or a performance at our beautiful Music Center.  Fantabulous and incomparable, 8 time Grammy award winner, Tina Turner
is performing at the Staples Center as I write this, had I known that ahead of time I would be there tonight singing along……..What’s love got to do with it? La la la… Gotta love that woman!


Did I say we were centrally located?  A 2 hour drive north will find you in beautiful Santa Barbara.  Head north just a little further and enjoy a day, or a romantic weekend, in wine country.  A leisurely drive south will take you into lovely San Diego.  Catch a Padres game or spend a day at the San Diego Zoo or perhaps SeaWorld with the family then head into the Downtown San Diego gaslight district for a delicious dinner and some relaxing down time.


Surfer? 10 minutes to surf city – Huntington Beach, where you will catch some of the finest waves on the west coast.


Long Beach is slated to become the new home of the largest movie studio in California.  A deal has been struck to take over the Boeing facility near the Long Beach airport. This will infuse new life into Long Beach and will certainly attract celebrities to our lovely waterfront homes and high rise condominiums.  How could they resist?  You never know who your new neighbor may be!


Did you know that Hollywood got its start in Long Beach?  Long Beach was known as the motion picture capital of the world until post World War I when Hollywood developed around the glitz of the era.  With its perfect Southern California climate, Long Beach afforded the perfect setting for the industry.  There were eight film houses, two stock companies,  roller-coasters and bath houses at the historic Pike, along the shore of Downtown Long Beach.  This was the home of the Balboa Amusement Production Company, the  world’s most prolific silent-film studio.  W. C. Fields and other stars lived in beautiful mansions in the Bluff Park neighborhood along Ocean Boulevard and First Street, many of which remain in the families to this day.


Speaking of historic districts, Long Beach has 17 of them, California Heights being the largest.  We love our historic homes here.  You can find out more about the history of Long Beach here as well.


Redevelopment in Alamitos Beach and the bustling Downtown Long Beach communities has birthed fabulous luxury high rise condominiums with endless ocean views, Manhattan style lofts and many fabulous new dining opportunities.


The luxury home market is generally a cash market.  Brian Brady’s 2009 Real Estate Market outlook predicts that disappearing jobs and financing will likely drive the price of luxury properties down in our waterfront and higher end communities.  While that is tragic for the owners of these Long Beach properties it is an incredible opportunity to purchase the Long Beach home, condo or vacation property you, the buyer has been waiting for.


The Long Beach real estate market has gone through several tumultuous years, this winter is certain to be a difficult time for sellers of Long Beach luxury homes, condos and income properties.  FHA loan limits, currently capping at $729,750 for single family home purchases are slated to be decreased to around $625,000 on January 1, 2009.  Decreasing buyer purchasing power is certain to affect prices in the mid-market range of $700,000 to about $1,000,000.


What does this mean for sellers?  If you are planning on selling, you should plan on closing your escrow before the end of the year and should price it to do so. It would be our pleasure to provide a home value assessment.


What does this mean for buyers?  This is an incredible opportunity to purchase your new home at an incredible price.


International buyers are flocking to the United States to purchase real estate at our current depressed prices, there is limited financing for foreign nationals, most are purchasing with all cash.  Long Beach prices have become very attractive to these buyers. You can start your search for Long Beach homes here.  VIP service is provided with the ability to set up custom searches with an automatic email alert system.


If you are interested in purchasing a Long Beach luxury oceanfront home or a high rise luxury waterfront condominium, this winter is the time to make that purchase. It would be our pleasure to assist you.

Long Beach California City and Relocation Resource Guide

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Laurie Manny
Long 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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Long Beach Real Estate BlogLong Beach Real Estate Website

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Long Beach California Luxury Home Market Update
Posted on October 17, 2008 by Laurie Manny
Sep
28


Long Beach Condos For Sale: September 28, 2008

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Long Beach Condos For Sale: 
September 28, 2008

 

 

What’s available?  

 

YIKES! There are 539
Condos for Sale in Long Beach!

 

Long Beach Condos For SaleNeed a little perspective? 
464 Long Beach condos have sold (closed escrow) between 1/1/2008 and today
9/28/2008!  This means that it will take
about 10.5 months to sell off the existing inventory of homes.  That does not take into account new listings
entering the Long Beach Real Estate market

                                                           


11 Studio condos for sale in Long Beach ranging in price from $75,000 to
$497,000, square footage 215 to 527, 143 average days on market.


  • 1 condo
    for sale in Belmont
    Shore
  • 1 condo
    for sale near PCH & Bellflower
  • 6 condos
    for sale in Downtown Long Beach
  • 3 condos
    for sale in Alamitos
    Beach


Buyers are looking at these units with a new perspective
lately.  Some are buying these for
weekend getaways, others are using them to run small businesses from and
parents have been purchasing them for students. 
Be sure to check the CC&R’s to make certain that your purpose is
allowed. 

 

Main Street Realtors Long Beach


160 one bedroom condos are for sale in Long Beach ranging in price from $64,000 to
$740,000, square footage 471 to 2,461, 111 average days on market. 


  • 2 condos
    for sale in Bixby
    Village on 7th St.
  • 2 condos
    for sale in Marina Pacifica Condominiums
  • 1 condo
    for sale in Belmont
    Shore
  • 16 condos
    for sale in Belmont
    Shore
  • 1 condo
    for sale is actually in Lakewood
  • 18 condos
    for sale on the Eastside
  • 3 condos
    for sale near PCH & Bellflower
  • 97 condos
    for sale in Downtown Long Beach and Alamitos Beach
  • 9 condos
    for sale in Bixby Knolls
  • 11 condos
    for sale in North Long Beach


 

Property AuctionLowest Priced one
bedroom condo for sale in Long Beach?


$64,000, 1 bedroom, 1 bath, 660 sq ft in Bixby Knolls.  But don’t go getting all excited, its not a
real price folks, it’s the starting price for an auction and there are other
costs involved as well.  You remember the
old saying, “If it sounds too good to be true…. It’s probably too good to be
true!” 

 

 

Highest Priced one
bedroom condo for sale in Long Beach


133 N The Promenade #405 in Downtown Long Beach Condo for
Sale is a 1 bedroom, 3 bath, 2,461 sq ft Penthouse, with HOA dues of $604 and
central air and heat which has been on the market for a short 10 days.  This unit went on the market this time at
$689,000 the price was changed the same day to $740,000.  Yes, that is curious!  This is a Short Sale believe it or not, built
in 2007. City lights view. 
Hmmmmmmm…………..  What? No ocean
view for that price???  Can you smell
another foreclosure coming? 


While only on the market for an apparent short 10 days, this
property was actually recently removed from the market to be put back on as
new.  Previously listed on 6/10/2008 for
$950,000, reduced the same day to $789,999, then reduced to $740,000 on
9/12/2008 and removed from the market the same day. 


Can you say psychotic? 


Main Street Realtors Long Beach

 

There are 303 two
bedroom Long Beach
condos for sale ranging in price from $80,000 to $1,495,000. 


  • 40
    have 1 bathroom
  • 249
    have 2 bathrooms
  • 14
    have 3 bathrooms


  • 55
    indicate no parking (some of these have parking but it is not indicated on
    the MLS)
  • 117
    indicate 1 available parking space or garage
  • 130
    indicate 2 available parking spaces or garage combination
  • 1
    indicates 3 available parking spaces or garage combination


Since 3 parking spaces are so very rare here in Long Beach here is
further information on that particular unit:


2121 E 1st
Street #307 is 2 bedroom, 2 bath, 1,264 sq ft, HOA
$183 Long Beach Condo located in the heart of the Bluff Park Historic District
and is just 1 short block to the beach.  
It is a Probate sale, being sold as is, and is not subject to court
approval.  This unit has been on the
market for 109 days, originally priced at $524,900 back on 2/13/2008, reduced
several times to its current list price of $420,000. 


Since 2 bedrooms so rarely are available at anywhere near $80,000
here is further information on the 2 that are available at that incredible
(realistic?) price:


3245 Santa Fe Ave #71 is a 2 bedroom, 1 bath, 730 sq ft
first floor unit with a carport and HOA $215. 
This is a Short Sale that has not been approved by the bank and has been
on the market for 160 days. 


3265 Santa Fe Ave #138 is a 2 bedroom, 1 bath, 730 sq ft,
HOA $185, no parking indicated which is likely incorrect.  This unit is a bank owned foreclosure and has
been on the market for 51 days. 

 

Main Street Realtors Long Beach

 

I found an interesting blog in Virginia about Condo ownership which you might want to read. 

 

Home or Condo Buyer Information:

 

 

Long Beach Condos For Sale

 

 

 

Naples Island and Belmont
Shore Luxury Condos For Sale

 

 

Belmont Heights Condos For Sale

 


Related Posts:

 

Main Street Realtors Long Beach

Main Street Realtors Long Beach

 

Read More Details


Laurie Manny
Long Beach Realtor (562) 212-5420

\"\"

Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

\"\"

Long Beach Real Estate BlogLong Beach Real Estate Website

\"\"

\"\"

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Long Beach Condos For Sale: September 28, 2008
Posted on September 28, 2008 by Laurie Manny
Sep
4


Buying Fixer Upper Homes in Long Beach – Long Beach Real Estate

1 Comment »

Long Beach Real Estate News


Buying Fixer Upper Homes in Long Beach

 

Fixer Upper homes in Long BeachMany buyers who are searching for homes in Long Beach express interest in purchasing a “fixer upper”.  It is always interesting to hear what their idea of a “fixer upper” is.  There are so many levels of fixer upper it is necessary to clarify what the buyer has in mind.

 

Quite a few buyers of Long Beach Real Estate think a home that requires paint and carpet is a fixer upper.  These are cosmetic fixers and while they do cost a fair amount of money to update, it is very common to need paint and replace flooring when purchasing Long Beach homes.  This could be called a cosmetic fixer, but then many homes that require extensive work in the kitchen and bath – or even replacement – are often referred to as cosmetic fixers as well.  Costs can start to add up and the buyer isn’t going to be thinking “cosmetic fixer” as the price tag begins to reach the stratosphere. 

 

 

There are many items your home inspector will look at that can add to this already hefty amount of necessary repairs and/or upgrades.  Electric and plumbing replacements can get pricey if added to the already climbing total of necessary upgrades. Here are a few important items to inquire about:

 

  • Has the electric been upgraded – at least partially? When?
  • Is the plumbing copper? When was it installed?
  • Are the upgrades nearing the end of their useful life? 
  • Will you need to replace them at some point in the near future?


Home InspectorLets not forget the roof.  There are many types of roofs, made out of many materials, but roofs do have a life expectancy. Find out how long ago the roof was installed and if the homeowner purchased a 30 year roof.  It will give you an idea of when (not if) you will need to upgrade it once again.  Roof replacements come in several forms.

 

  • Adding an additional layer of shingle. (moderately expensive)
  • Adding an additional layer of shingle and replacing the wood underneath it. (more expensive)
  • Entire roof replacement including roof frame and ridge-board.  (quite pricey)

 

Most roofs are supposed to be able to handle the weight of about 3 layers of shingle.  3 layers makes for a very heavy roof and can bow the ridge board creating a rather expensive repair.  Check the roof to see how many layers of shingle are currently on it.  1 is best, 2 is OK, 3 means that it will eventually have to be removed to replace it with another layer, adding to the cost of your roof replacement. 

 

Termites, left to their own devices, can cause tremendous damage over time.  While most Long Beach homes require a moderate amount of termite work done during the escrow process, occasionally a home will have a tremendous amount of damage and the costs can skyrocket.  Termite work is usually the responsibility of the seller contractually.  Sometimes the seller will place a financial cap on how much work they are willing to do, if the buyer accepts this during the negotiation process they will be contractually obligated to complete the work themselves. Smart homeowners have annual contracts with a pest control company to keep the little buggers under control. 

 

Many bank owned properties are refusing to do termite inspections and work.  It is advisable to have a termite inspection during your contingency period to assure yourself that the home is sound and the work will not have astronomical costs attached to it after purchase. 


Foundation issues are usually deal breakers.  If an entire foundation needs to be replaced the estimated costs are usually so high the seller will refuse and the buyer will decline.   If you discover foundation problems, you absolutely should get 3 estimates for the work.  You may be shocked at how far apart the estimates can be.  Some years ago I saw 3 estimates for the same foundation replacement come in at about $20k, $35k and $52k, it can be confusing and it can make people very angry.   Most buyers are not equipped to handle this level of problem. 

 

Some cracks in foundations are easily repaired with a liquid epoxy.  The problems are not always major.  Foundation problems can sometimes be detected by a noticeable tilt of the floors. Large cracks can be an indicator of stress to a particular area of the foundation.

 

Handyman's SpecialA sagging in a particular area of the home could indicate that a post needs to be replaced under the home.  This is not as major of a job as one would think, and is fairly reasonable to correct. 

 

Heaters must work, most lenders will not fund a loan without an operating heating system. 


I recently showed a very nice home to a buyer client.  The home was in very good condition and showed really well.  The seller happened to be home and was very forthcoming with information about the house.  She has lived in it for 25 years, having purchased it from a very handy gentleman years before.  The prior owner added on a large master bedroom and bath, the work was quality.  It seems that he also delivered the house with a new roof and 15 year old plumbing.  The electric had not been a problem, so it had not been upgraded.  The kitchen, while nice, was in need of a remodel.

 

Having informed us that she had lived in the home for 25 years repair free, we now knew that just about everything in the home was nearing the end of its useful life and would need to be replaced over the next few years.  As nice as the home was, the potential investment in it over the first few years was too high, even at a reduced selling price. 


There is much to consider when purchasing a home.  Most buyers in today’s real estate market do not have the money to handle expensive upgrades and/or repairs after purchase.  Smart sellers are putting their homes into tip top condition prior to listing their Long Beach homes on today’s real estate market.  These homes are experiencing multiple offers and are selling very fast.  There just are not very many of them available.  Other Long Beach homes continue to sit on the real estate market because the buyers know they will not be able to do the work after purchase. 


Buying Long Beach homes requires a great deal of investigation and knowledge.  It is easy to overlook potentially expensive repairs that are just a short way down the road.  This is one of the many reasons it pays to hire a knowledgeable “Long Beach Realtor®” to protect your interests when you are shopping for “Long Beach Real Estate”.

 

Contact Laurie to begin the search for your new home

 

 

Read More Details


Laurie Manny
Long Beach Realtor (562) 212-5420

\"\"

Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

\"\"

Long Beach Real Estate BlogLong Beach Real Estate Website

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Buying Fixer Upper Homes in Long Beach – Long Beach Real Estate
Posted on September 4, 2008 by Laurie Manny
Jul
26


Long Beach – Best Neighborhood for Walking

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One of the most appealing draws to living in Long Beach CA is the walkability of many of our local neighborhoods. Well, somebody finally decided to start ranking walkable neighborhoods across the country. Walk Score has ranked 2,508 neighborhoods in 40 of the largest US cities to help buyers find walkable communities to live in.

 

Long Beach California has been ranked as the 8th Most Walkable Neighborhood!

  1. San Francisco
  2. New York
  3. Boston
  4. Chicago
  5. Philadelphia
  6. Seattle
  7. Washington D.C.
  8. Long Beach
  9. Los Angeles
  10. Portland
  11. Denver
  12. Baltimore

see the rest here…

 

 

Long Beach Neighborhood Walk Scores:

Neighborhood Score
1 Downtown Long Beach
87
2 Belmont Shore 83
3 Belmont Heights 82
4 Bixby Knolls 81
5 East Side 81
6 Park Estates 78
7 Alamitos Heights 77
8 Circle Area 76
9 Lakewood Village 74
10 Naples IslandMarina Area 74
11 California Heights Historic District 73
12 Poly High District 73
13 Los Altos 71
14 City of Signal Hill 68
15 Wrigley 66
16 Bixby
63
17 El Dorado Park 62
18 Los Cerritos 62
19 City College Area 58
20 North Long Beach 55
21 Airport Area 55
22 State College Area 54
23 West Side 54
24 The Plaza 53
25 North West Long Beach 44
26 Wilmington 29

52% of Long Beach has a Walk Score of 70 or above.

85% of Long Beach has a Walk Score of at least 50.

15% of Long Beach lives in a Car Dependent Neighborhood.

 

 

What do these scores mean?

 

Here are some general guidelines to how these rankings work:

 

  • 90-100 = Walkers’ Paradise: Most errands can be accomplished on foot and many people get by without owning a car.
  • 70-89 = Very Walkable: It’s possible to get by without owning a car.
  • 50-69 = Somewhat Walkable: Some stores and amenities are within walking distance, but many everyday trips still require a bike, public transportation, or car.
  • 25-49 = Car-Dependent: Only a few destinations are within easy walking range. For most errands, driving or public transportation is a must.
  • 0-24 = Car-Dependent (Driving Only): Virtually no neighborhood destinations within walking range. You can walk from your house to your car!

 

 

How It Doesn’t Work: Known Issues with Walk Score

 

Walk Score admits that Walk Score is just an approximation of walkability. There are a number of important factors that contribute to walkability which are not part of their algorithm:

  • Public transit: Good public transit is important for walkable neighborhoods.
  • Street width and block length: Narrow streets slow down traffic. Short blocks provide more routes to the same destination and make it easier to take a direct route.
  • Street design: Sidewalks and safe crossings are essential to walkability. Appropriate automobile speeds, trees, and other features also help.
  • Safety from crime and crashes: How much crime is in the neighborhood? How many traffic accidents are there? Are streets well-lit?
  • Pedestrian-friendly community design: Are buildings close to the sidewalk with parking in back? Are destinations clustered together?
  • Topography: Hills can make walking difficult, especially if you’re carrying groceries.
  • Freeways and bodies of water: Freeways can divide neighborhoods. Swimming is harder than walking.
  • Weather: In some places it’s just too hot or cold to walk regularly.


More information on how the walk score is determined can be found here.

 

Long Beach Relocation and City Guide

 

 

When seeking walkable Long Beach neighborhoods nobody knows the areas better than your Long Beach Realtor. Search Long Beach Homes for sale and consult your Realtor to find out which Long Beach neighborhoods best suit your specific needs.

 

 

 

 

 

Read More Details


Laurie Manny
Long Beach Realtor (562) 212-5420

\"\"

Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

\"\"

Long Beach Real Estate BlogLong Beach Real Estate Website

\"\"

\"\"

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Long Beach – Best Neighborhood for Walking
Posted on July 26, 2008 by Laurie Manny
May
24


Selling Your Long Beach Homes-Long Beach Real Estate

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Yay!  The Down Market is OVER!

 

Long Beach Homes-Selling Strategy-Long Beach Real EstateNo it’s not, but now that I have your attention, the market has changed a bit and there are a few things you really need to know if you are thinking about selling your Long Beach homes


Back in the hot sellers market one of the sales strategies used was to price a home a little low, take multiple offers, and play them off of each other to drive the price up.  It worked!  That strategy, applied to today’s Long Beach real estate market is working as well. 


Pricing your home low will inspire the interest of buyers and agents and create a quick, steady flow of traffic and multiple offers to your home. 


For instance, if your home, in great condition, comps out at $500,000 and you listed it at $299,000 you would have the attention of the entire real estate market.  You would have to prepare yourself for a major onslaught of showings, perhaps as many as 30 to 50 a day.  The offers would pour in and bid up.  At $500,000, you would sit on the market for months, probably price reduce a couple of times to about $450k and likely sell around $440k, if at all.  If you choose this road, you will probably sell at around the same price, without the time delay.  It’s clean and fast. 


An added benefit to creating multiple offers is that you have a choice.  You will not be forced to accept an offer with weak financing because it is the only offer you have.  There will be an assortment of offers for you to choose from thereby placing you in a stronger position to close escrow successfully. 

 

Many sellers in Long Beach are afraid to pursue this road fearing they will have to accept an offer that is lower than they are willing to accept.  Sellers do not have to accept any offer, they are free to accept or decline any offer made on their homes. 


It is just a really smart business decision to choose to sell your home in this fashion, during this market. 

 

Read Also:

The 7 Dangers of Overpricing Your Long Beach Homes and Condos

Chasing the Market Down – Are You Guilty?

 

If you are thinking about selling your Long Beach home and are interested in more details, call Laurie for more information.

 

Read More Details


Laurie Manny
Long Beach Realtor (562) 212-5420

\"\"

Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803

\"\"

Long Beach Real Estate BlogLong Beach Real Estate Website

\"\"

\"\"

\"\"

Selling Your Long Beach Homes-Long Beach Real Estate
Posted on May 24, 2008 by Laurie Manny
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Laurie Manny

\"\"

Main Street Realtors
Belmont Heights
244 Redondo Avenue
Long Beach California 90803

Lic.#01321200

.

(562) 212-5420


Contact Laurie

Long Beach Real Estate Blog

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Long Beach Condo Buyers Beware

The condo market in Long Beach, and nationwide, may be in for a few rather large shockers which could rattle more than a few cages.  We have already come across several HOA\'s in, or very near, serious financial jeopardy.

Read More>>>


Buying Fixer Upper Homes in Long Beach

Many buyers who are searching for homes in Long Beach express interest in purchasing a \"fixer upper\" . It is always interesting to hear what their idea of a \"fixer upper\" is. There are so many levels of fixer upper it is necessary to clarify what the buyer has in mind.

Read More>>>


Buying Long Beach Homes

Issues for the \"First Time Home Buyer\"

With so many Long Beach homes on the market at affordable prices one would think it should be really easy to find a home and get a great deal. So why are so many first time buyers having trouble finding a home that suits their needs at a price they can afford?

Read More>>>


FHA Loan Limits

FHA loans are available to a maximum loan of $729,750 with a minimum 3 to 3.5% down payment until January 1, 2009 when they are currently scheduled to drop the maximum loan amount to $625,000, this could change.

Current FHA Lending Limits for LOS ANGELES COUNTY (LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN AREAS):

  • Single Family Home or Condo : $729,750
  • Duplex : $934,200
  • Tri-plex : $1,129,250
  • Four-Plex : $1,403,400


7 Steps to Pre-Home Purchase Preparedness

    1-Choose a Lender 2-Checking Credit Scores Prior to Starting the Purchase 3-Be Pre-approved Prior to Searching 4-Have A Solid Financial Plan 5-Insist on a Lock-In Letter 6-Demand a Loan Commitment 7-Waiting to Sell Your Home

Read More>>>


Long Beach California is Best Neighborhood for Walking

One of the most appealing draws to living in Long Beach California is the walkability of many of our local neighborhoods.

Long Beach California has been ranked as the 8th Most Walkable Neighborhood!

Read More>>>


Relocating to Long Beach California?

If you are relocating to Long Beach California you will need lots of information. You will be curious to know about Long Beach communities , neighborhoods and resources . We have tried to include as many area resources as possible here to make your transition a smooth one.

Read More>>>>