Downtown Long Beach Condos Market Report October-November 2007

DOWNTOWN LONG BEACH CONDOS Market Report

10/1/2007 - 11/30/2007

Expired - 35 Properties Found
	Bedrooms	Baths	Square Feet	List Price $	LP/SqFt	Sale Price	SP/SqFt	SP/LP	SP/OLP	DOM
Min	0	1	367	199,950	$ 279	$ 0	$ 0	%	%	34
Avg	1	1.25	806	365,784	$ 453	$ 0	$ 0	%	%	161
Max	3	2.5	1875	925,000	$ 737	$ 0	$ 0	%	%	425

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Laurie Manny Long Beach Realtor (562) 212-5420
Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803
Long Beach Real Estate Blog Long Beach Real Estate Website

http://www.lauriemanny.com/0014C7

Posted on December 02, 2007 15:47:48 by Laurie.Manny

Small Living Space Solutions for Long Beach Homes

Small Living Space Solutions for Long Beach Homes

Buyers relocating to Long Beach California from various parts of the country are often dismayed at the idea of leaving their 4000 + square foot homes on acres of property for smaller homes on smaller lots here in Long Beach.  Having built up a lifetime of collections and belongings they look at our smaller spaces and often just cant wrap themselves around how to fit into these spaces.  While additional storage space is not always the answer it often helps. 

Beach living often means less living space.  We have smaller lots but better air, less square footage but a better quality of life. 

• So what the heck do we do with all of our stuff? 
• 
  
• We look for wasted space in our Long Beach Homes and find ways to use it effectively. 

Closets have a lot of wasted space. Organizing closets and utilizing every square inch of space has become a necessity.  Organizational systems line the walls of our garages, our attics fill up and still we search for that elusive additional storage space. 

Staircases take up a lot of space, so why not use them for storage as well.  Unicraft Joinery designers have come up with an absolutely brilliant idea for unique storage in otherwise wasted space.  Imagine each step is a box with a hidden drawer in it still allowing for additional storage or home office space beneath the staircase.  

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Posted on November 28, 2007 20:41:11 by Laurie.Manny

Long Beach Implements New Fire & Building Codes

LONG BEACH REAL ESTATE - LONG BEACH FIRE & BUILDING CODES

Long Beach Implements New Fire & Building Codes Effective January 1, 2008

 

 

The Long Beach City Council unanimously approved the first round of Building and fire Codes for all projects submitted for approval as of January 1, 2008. 

 

We had quite a year of deadly fires here in Long Beach California.  The deadly fire in the Galaxy Tower in Bluff Park on March 29, 2007 claimed the life of John Carlyle Crews who tragically jumped to his death from his 18th floor balcony.  The Paradise Garden Apartment Fire, the largest blaze to hit Long Beach in three decades back in December 2006 which claimed the lives of 2 people.

 

We still have a handful of high-rise buildings in Long Beach without sprinkler systems who have been grandfathered in and are currently exempt from current building codes.  How many more lives will we have to forfeit before ALL buildings in Long Beach are properly retrofitted with fire sprinkler systems? 

 

Uniform codes have been replaced with International Fire Code and the International Building Code as the new model codes for California.  Other codes that were also adopted are:

 

• electrical codes
• mechanical codes
• plumbing codes
• California Historical Building code

 

Per the City of Long Beach, Local amendments to the California Fire Code will include:

 

 

• All new commercial, industrial and nonresidential buildings that require two or more exits, or that are greater than 3,000 square feet, shall be protected by an automatic sprinkler system. 

• All new multi-family (3 or more units) residential, hotels, motels and similar buildings shall be protected by an automatic sprinkler system. 

• All new single-family dwellings and duplexes greater than 4,000 square feet or more than two-stories in height shall be protected by an automatic sprinkler system. 

• All existing multi-family residential, hotels, motels and high-rise buildings shall upgrade the existing fire alarm system to current code, at the time of replacement of the existing non-functioning fire alarm control panel. 

• Partial automatic sprinkler systems are not allowed. Where automatic sprinkler systems are required to be installed by this section, or by any other sections in this code, the automatic sprinkler system shall be installed throughout the entire building. 

• Fire apparatus access roads shall have an unobstructed width of not less than 26 feet, and an unobstructed vertical clearance of 15 feet. 
• Fire apparatus access roads shall have a minimum inside turning radius of 28 feet.

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Laurie Manny Long Beach Realtor (562) 212-5420
Main Street Realtors Belmont Heights 244 Redondo Avenue Long Beach California 90803
Long Beach Real Estate Blog Long Beach Real Estate Website

http://www.lauriemanny.com/00152C

Posted on November 22, 2007 23:14:14 by Laurie.Manny

How to Get a Deal in Todays Buyers Market

LONG BEACH HOMES-LONG BEACH CONDOS

How to Get a Deal in Todays Buyers Market

Buy Low Sell High

Are YOU Waiting for the Bottom of the Market?

If you are one of the many awaiting the absolute bottom of the market to buy Long Beach Homes or Condos, it may cost you money to do so. With this in mind I prepared the above graph to assist in explaining a few critical points.

In a buyers market the buyer has the power in negotiating the deal. Aware that the market is on the decline, resulting in more inventory than available properties, the buyer can ask for and receive many seller concessions. Sellers willingly make concessions to get the property sold. Buyers can negotiate many items to sweeten an already good deal.  In a buyers market most sellers are very happy just to receive an offer. 

In a sellers market the seller has the power in negotiating the deal. Aware that the market is on the incline, coupled with more buyers than inventory available, the seller can raise the price and offer little or no concessions to the buyers desperate to find available housing. In a sellers market buyers often find themselves in a multiple offer situation, negotiating upwards to acquire a property and are generally very happy just to get an offer accepted. 

Few will actually purchase at the actual Bottom of the Real Estate Market. Smart buyers will purchase on the way down for the best deals. (See A-B) At this point in the evolution of the market, sellers will be at their most giving and prices will be at record lows. It is here that many Long Beach Buyers are going to find the very best deals.

Example: A Long Beach Home available in 2005 for $800,000, listed today at $650,000, sitting on the market for 100+ days, may be purchased with an offer of $625,000 less a negotiatied 3% in closing costs of $18,750 for a net purchase of $606,250; a very good deal for the buyer indeed. (See A-B on graph)

A few lucky buyers will actually purchase at the absolute bottom of the market, with maximum seller concessions. As the market begins to level out and turn slowly upward there will be some fantastic deals available. Sellers will be less generous with concessions even though prices at

Posted on November 18, 2007 17:49:50 by Laurie.Manny

Canadian Investors - Buying Long Beach Real Estate in Southern California

CANADIAN INVESTORS BUYING LONG BEACH REAL ESTATE

The strength of Canadian currency and the weakness of US currency has created a unique opportunity for Canadian real estate investors and snowbirds here in sunny Long Beach California.

Long Beach Real Estate has always been the most affordable beach front and beach close property in Southern California.  Smart investors purchase in a buyers market before prices reach the bottom, affording them the further opportunity of receiving seller concessions; further sweetening an already desirable deal.  Long Beach real estate prices are rapidly approaching the 2005 range, this is a good time to consider the purchase of luxury vacation condos or homes, or investment properties. 

Alamitos Beach Luxury High Rise Condos once unaffordable to most have returned to the affordable range and are stunning; set on the sand like sentinals overlooking Long Beach Harbor.  In Long Beach, we have many communities that would be suitable for a Canadian investor to consider for any reason.  Downtown Long Beach and Spinnaker Bay are also extremely good choices. 

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Posted on November 18, 2007 15:50:01 by Laurie.Manny