Home Buyer Information | Laurie Manny

Apr
25

Buying Your Long Beach Home – Getting Started

Are You thinking about Buying a Home in Long Beach?

Buying your Long Beach Homes When beginning the home buying process the best place to start is by getting pre-approved by a great lender. Being pre-approved for your home loan not only assures you that you are shopping within your price range, it also equips you with the ability to make an offer immediately when you locate the home of your choice.

When you speak with the lender of your choice, ask them if they will be able to provide you with a lock-in letter and a written loan commitment. These items assure you that the loan is actually in place and that both the interest rate and the terms of the loan will be intact when you are ready to close escrow.

There are currently less Long Beach homes on the market than prior months. Over the winter months we had more, but less desirable inventory. Todays Long Beach Real Estate Market is providing better and more desirable choices for home buyers causing many Long Beach properties to receive multiple offers. It has been rare for offers to go much above asking price, however sellers are making choices based on the terms offered and the strength of the offer and the loan.

Placing yourself in a great position, prior to beginning your home search has never been more important.

We highly recommend the services of Brian Brady. Brain combines his extensive financial planning background with his incredible knowledge of todays financial markets to create the best possible scenario for our mutual clients. Brian can be reached at 858-777-9751.

We are looking forward to making your dream of home ownership a reality. Call Laurie today to begin your home search 562-212-5420.

Long Beach Homes and Condos For Sale

(Direct feeds from the Southern California MLS)

Relocating to Long Beach California-Resource Guide

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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 BlogLong Beach Real Estate Website	$\"\"$
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Buying Your Long Beach Home – Getting Started

Posted on April 25, 2008 by Laurie Manny

Apr
6

Emerald Villas – Downtown Long Beach – 555 Maine Avenue

Emerald Villas – Downtown Long Beach Condos

555 Maine Avenue

Downtown Urban Living

The beautifully appointed Emerald Villas Condominiums are a delight to visit. Zen like gardens greet you in the main entry, which lead to a beautiful community pool, spa and barbeque in a lovely and lush, tropical setting.

Quiet and peaceful is the tone here.

A community rooftop deck sports a fantastic view of Downtown Long Beach. Come home to a good workout in the community gym after a long day at the office. Emerald Villas is located one short block from the beautiful Cesar Chavez Park and walking distance to:

Pine Avenue
East Village Arts District Outdoor Mall
The Pike
Rainbow Harbor
Shoreline Village
The Beach
Area Restaurants
Area Entertainment
And more…

This beautiful Downtown Long Beach Condo Complex is convenient to all shopping, dining and entertainment in the Downtown Long Beach area and is convenient to all freeways.

Emerald Villas Condos has 123 units, most of which are 2 bedroom, 2 bath units, with several 3 bedroom, 2 bath units. The units have great floor plans and all contain air conditioning, fireplaces, balconies and in unit washer/dryer hook-ups.

2008 Statistical Information for the Emerald Villas Condominiums

There are currently 3 condos available for sale at the Emerald Villas, 2 are pending and 1 has closed escrow in 2008.

Available units can be viewed here:

Emerald Villas Condos For Sale-555 Maine Ave-90802-Downtown Long Beach Real Estate

(Live feed from the SoCalMLS)

2007 Statistical Information for the Emerald Villas Condominiums

In 2007 – 6, 2 bedroom, 2 bath units sold ranging in price from $259,000 to $359,500, with days on market ranging from 14 to 87 and an average days on market 40.

2006 Statistical Information for the Emerald Villas Condominiums

In 2006 – 12, 2 bedroom, 2 bath units sold ranging in price from $335,000 to $400,000, with days on market ranging from 2 to 149 and an average days on market 62. One 3 bedroom, 2 bath sold at $422,000 and was on the market for 13 days.

Nearby Downtown Long Beach Condos For Sale

(Live Feeds from the SoCalMLS)

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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 BlogLong Beach Real Estate Website	$\"\"$
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Emerald Villas – Downtown Long Beach – 555 Maine Avenue

Posted on April 6, 2008 by Laurie Manny

Mar
24

Long Beach Home Buyer Update March 25, 2008

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Long Beach Real Estate

Spring Real Estate season has begun in Long Beach. The clocks have been changed, it is light out into the evening hours, making it easier to show properties after the work day, and buyers are liking this springs Long Beach housing prices.

Long Beach Real Estate For Sale Prices are way down, foreclosed properties (bank owned) are being placed for sale on the MLS daily and investors are buying. Sellers are realizing they have to compete with short sales and forclosures on price. There are some very nice homes for sale on the market here in Long Beach at the moment, and buyers are shopping.

Many real estate sales in Long Beach are being made to out of area buyers. After searching in areas that remain unaffordable to them, Long Beach has proven to be a great option in its ability to provide great housing at affordable prices.

Until recently buyers had the luxury of time when they found a home or condo they were interested in, this is no longer always true. We are currently working with many Long Beach buyers. In just the last 3 weeks 6 of our buyers decided to think on it for too long and lost the homes they wanted to write offers on – to buyers who were quicker than they were to write the actual offers. Many buyers have been looking on and off for quite some time and have been conditioned to the slower winter market, it is different now. Strategy is important.

When you locate a Long Beach home or condo that you want to purchase, it is in your best interest to go ahead and write the offer as soon as possible. You Sold will have time to continue thinking about it after the offer is written. Once the offer is submitted it usually takes a few days to work out counters back and forth, once your offer is accepted you have 17 days to perform all inspections and to back out of the purchase if it is not up to your expectations.

Writing an offer to be accepted is the other part of the equation. With so many properties in Long Beach now receiving multiple offers it often pays to write your best offer, especially when writing an offer on a bank owned property. Each home needs to be evaluated on an individual basis before a decision on how to structure your offer is made.

More details on writing offers to be accepted can be read here:

Long Beach Real Estate Sales-Foreclosures-Bank Owned Properties-Market Statistics

Keep in mind that it doesnt cost you any actual money to write an offer, you always have the power to change your mind, without serious financial repercussions.

If you are interested in purchasing a Long Beach Home or Condo, bank owned or foreclosed properties, call Laurie at (562) 212-5420 to begin your search.

Long Beach Homes and Condos For Sale

(Direct feeds from the Southern California MLS)

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 Home Buyer Update March 25, 2008

Posted on March 24, 2008 by Laurie Manny

Mar
22

Long Beach Real Estate Sales-Foreclosures-Bank Owned Properties-Market Statistics

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Long Beach Real Estate Market Statistics

Long Beach Real Estate

Sales 2001 – 2007

January 1, 2008 – March 21, 2008

Year	Long Beach HOMES SOLD	Long Beach CONDOS SOLD	Long Beach 2-4 UNITS SOLD	Total Sales

2008	227	90	35	352
2007	1663	892	306	2861
2006	2372	1161	575	4108
2005	2988	1483	811	5282
2004	3061	1368	780	5209
2003	3465	1492	848	5199
2002	3489	1502	854	5844
2001	3285	1320	650	5255

There are currently approximately 133 Long Beach properties selling per month (closing escrow)

352 ÷ 2.66 = 133

2245 ÷ 133 = 16.8

ACTIVE LONG BEACH LISTINGS

HOMES

FOR SALE

CONDOS

FOR SALE

2-4 UNITS

FOR SALE

TOTAL PROPERTIES

FOR SALE

3/21/2008

1204

629

412

2245

352 Long Beach Properties have closed escrow ‘SOLD’ in 2008.

133 Average sales per month.

There are currently 2245 Long Beach Properties for sale.

It will take almost 17 months with no new properties entering the Long Beach Real Estate market to sell the existing inventory of properties for sale. Homes, condos and income properties in Long Beach are being placed onto the market daily adding to our existing inventory and increasing the length of time it will take for the current real estate market to absorb these new properties for sale.

The numbers tell an interesting story, one that I recall all too clearly. As single family homes became financially unattainable to first time home buyers in 2005 and 2006, many purchased Long Beach Condos instead, it was better than remaining in rent and gave them badly needed tax write offs. The above chart shows a significant decrease in single family home sales in 2006 and again in 2007, as condo sales remained strong into the latter portion of 2007 when they too began to taper off.

You will notice the sharp decline in closed sales in the first quarter of 2008, its not that the buyers have not been out shopping, many have been. Many just have not been able to wrap themselves around exactly what it means to get a deal. I dont know if it is the media or a misguided idea of what a deal is in todays real estate market. Others are realizing that the after purchase costs of badly needed upgrades on many of the homes are beyond their reach.

Long Beach Homes-Issues for 1st Time Home Buyers

Prices on real estate for sale in Long Beach are currently all over the place, it is a bit messy, which indicates a good hard look at the comparables before deciding what to offer on any given property. Some homes are priced to sell at the price offered, some sellers have priced their homes based on fantasy and wishful thinking. While it cant hurt to place a reasonable offer on one of these homes, the sellers are often not very responsive. Many buyers have decided to offer low, whether the listing price is fair or not. This is a sure way to not get your offer accepted. There are many good buys on the real estate market in Long Beach right now and the smart buyers and cash heavy investors are picking them up.

Long Beach Investors are making all cash offers Real Estate Investors with a lot of cash have entered the market. Prices are finally dropping to the price range they have been waiting for. This is making it more difficult for buyers who intend to purchase with loans and occupy the homes to get their offers accepted. We placed an all cash offer for a bank owned Alamitos Beach Condo about a week ago, there were multiple offers, one was higher than ours. We opened escrow on that condo on Monday. The bank knew they would not have any problems with a lender that might not be able to perform, may disappear or may discontinue their current loan programs.

Bank owned properties are beginning to appear in larger numbers and a better selection of homes is now available. Buyers have started getting a little excited now that homes they actually want to buy are finally starting to become available, they are writing offers and are often being rejected because the investors are liking these homes too, are placing all cash offers and are walking away with the prize. Multiple offers are occuring on the better properties that are being made available which is making that potential purchase more competitive now, and less incentives are available on these purchases. Some of these properties sell quickly for around asking price, with no incentives.

I had a conversation with a selling agent from one of the asset management companies handling foreclosures yesterday and inquired about their criteria when considering multiple offers on their bank owned or foreclosed properties. He went on to explain that while they are in counter with early offers, the offers are coming in steadily and are lined up in the que. Often the early offers are being accepted without even looking at the offers in the que, even though there are often better offers sitting there. When I questioned why, he simply stated that they have so many properties to deal with they just dont have the time, they are being pressured to get the offers accepted and get them off the table to deal with others. He also said that sometimes they go through all of the offers and counter a good portion of them, that it doesnt always make sense – even to him. Its looking like the early bird gets the worm – sometimes.

If you are a serious buyer, are looking for a foreclosed home to occupy as your primary residence and are interested in the better properties coming onto the market you will need to move quickly, make swift decisions and make your best offer right out of the gate. While even this will not guarantee that your offer will be accepted, it certainly will put you in the best position possible.

If you are interested in purchasing bank owned or foreclosed properties, call Laurie at (562) 212-5420 to begin your search.

Long Beach Homes and Condos For Sale

(Direct feeds from the Southern California MLS)

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	$\"\"$
$\"\"$	$\"\"$

Long Beach Real Estate Sales-Foreclosures-Bank Owned Properties-Market Statistics

Posted on March 22, 2008 by Laurie Manny

Mar
12

Alamitos Beach Luxury High Rise Condos Market Report-Ocean Boulevard Corridor-90802 January-February-2008

Alamitos Beach Luxury High Rise Condos Market Report

Ocean Boulevard Corridor

January – February 2008

Alamitos Beach luxury high rise condos on the Ocean Boulevard Corridor are slowly beginning to come back to life. This year got off to a slow start with only 4 very small condos actually selling. There are currently 9 condos in escrow and buyers are out again shopping Alamitos Beach condos for sale.

We have a specific highly qualified buyer seeking a high rise condo, on the Ocean Blvd. corridor, who has not quite found what they are looking for. If you have a 3 bedroom condo – or a 2 with a den, not currently on the market, around 1600 sq ft or more, on the sand in Alamitos Beach, with a direct ocean view, we would like to speak to you. Preference is an upper corner unit with an unobstructed east/south facing view in excellent condition. Our buyer wants to purchase now. Call today if you are thinking about selling, if you have the right unit, we may be able to make this relatively easy for you. Contact Laurie at 562-212-5420.

There are currently 57 ocean front and luxury high rise condos for sale in Alamitos Beach, on the sand.

#	Bed	Bth	Gar	SqFt	YBlt	List Price	DOM
1	1	1	0	706	1958	$215,000	27
2	1	1	0	580	1928	$239,900	70
3	1	1	1	706	1958	$365,000	53
4	2	2	0	1,080	1965	$395,000	65
5	1	1	1	732	1973	$419,000	51
6	1	1	1	700	1958	$439,900	116
7	1	1	1	689	1975	$444,000	8
8	2	1.5	1	1,097	1958	$445,000	185
9	1	1	1	732	1973	$459,000	12
10	1	1	0	839	1928	$465,000	194
11	1	1	0	839	1928	$478,900	335
12	2	2	2	1,080	1965	$485,000	55
13	1	2	1	880	1965	$485,000	26
14	1	1	2	1,026	1992	$499,000	57
15	2	2	1	1,080	1965	$519,900	231
16	1	1	0	853	1975	$525,000	27
17	1	1	1	850	1975	$525,000	20
18	1	2	1	880	1965	$549,000	33
19	1	1	2	1,000	1984	$600,000	0
20	1	1	2	1,000	1984	$609,000	122
21	2	3	2	1,350	1980	$619,000	146
22	2	2	0	1,245	1928	$619,000	0
23	1	2	1	880	1965	$629,000	41
24	3	2	1	1,260	1965	$659,000	65
25	3	3	0	1,542	1921	$665,900	110
26	2	2	1	1,325	1958	$675,000	153
27	2	2	0	1,448	1928	$689,000	26
28	1	2	1	1,090	1984	$699,000	48
29	2	2	2	1,080	1965	$699,000	49
30	2	2	2	1,645	1992	$699,000	2
31	3	2	2	1,455	2000	$724,900	190
32	3	2	2	1,260	1965	$739,000	61
33	3	2	2	1,260	1965	$740,000	96
34	3	2	2	1,260	1965	$749,000	27
35	3	2	2	1,400	2001	$749,900	96
36	2	2	2	1,800	1980	$769,900	55
37	3	2	2	1,260	1965	$799,000	61
38	3	2	1	1,818	2003	$809,900	28
39	2	2	2	1,377	1992	$824,900	63
40	3	2	0	1,393	2001	$830,000	468
41	3	2	2	1,282	2000	$839,000	29
42	2	2	2	1,120	1976	$850,000	196
43	2	2	2	1,423	1992	$870,000	41
44	2	2	0	1,542	1992	$889,000	33
45	3	2	2	1,510	2004	$1,049,900	208
46	3	2	2	1,510	2004	$1,049,999	261
47	3	2	2	1,758	2003	$1,050,000	15
48	2	2	0	1,264	1985	$1,099,900	12
49	3	2	0	1,259	2001	$1,125,000	47
50	2	2	2	1,400	1992	$1,150,000	112
51	3	2	2	1,425	2001	$1,224,000	114
52	3	2	2	1,965	2003	$1,275,000	153
53	3	2	2	1,866	2003	$1,285,000	86
54	3	2	2	1,400	2000	$1,299,000	48
55	3	2	2	1,800	2001	$1,299,000	23
56	3	2	2	1,800	2001	$1,649,000	119
57	2	2	2	2,245	1992	$2,230,000	131
Average	2		2	1,247		$768,171	93
Number of Properties: 57
Average ( ListPrice / SqFt ) : ( 768171 / 1247 ) = $ 616.02

3 ocean front and luxury high rise condos in Alamitos Beach are in escrow and accepting back-up offers.

#	Bed	Bth	Gar	SqFt	YBlt	List Price	DOM
1	1	1	2	740	1976	$499,999	88
2	2	2	0	1,239	1928	$899,000	59
3	3	2	2	1,510	2004	$1,049,999	85
Average	2		2	1,163		$816,332	77
Number of Properties: 3
Average ( ListPrice / SqFt ) : ( 816332 / 1163 ) = $ 701.92

6 ocean front and luxury high rise condos in Alamitos Beach are Pending in escrow.

#	Bed	Bth	Gar	SqFt	YBlt	List Price	Pending Date	DOM
1	2	2	1	1,080	1965	$374,999	12/05/2007	69
2	1	1	1	814	1976	$384,900	2/21/2008	2
3	1	1	2	990	1984	$549,900	2/15/2008	7
4	2	2	2	1,231	1975	$739,900	3/01/2008	2
5	3	2.5	2	1,788	1992	$799,900	2/06/2008	100
6	2	2	2	1,600	1992	$900,000	2/20/2008	230
Average	2		2	1,251		$624,933		68
Number of Properties: 6
Average ( ListPrice / SqFt ) : ( 624933 / 1251 ) = $ 499.55

4 ocean front and luxury high rise condos in Alamitos Beach have closed escrow – SOLD.

#	Bed	Bth	Gar	SqFt	YBlt	Sold Price	SP/ SqFt	SP/LP	SP/OLP	Sold Date	DOM
1	1	1	0	296	1928	$185,000	$625.00	94.87%	94.87%	3/11/2008	0
2	1	1	0	873	1928	$370,000	$423.83	97.63%	82.22%	1/07/2008	158
3	1	1	0	841	1928	$379,000	$450.65	100.00%	108.29%	1/30/2008	192
4	1	1	1	487	1975	$381,750	$783.88	95.68%	95.68%	1/31/2008	44
Average	1		1	624		$328,937	$570.84	97.04%	95.26%		131
Number of Properties: 4
Average ( SalePrice / SqFt ) : ( 328937 / 624 ) = $ 527.14

Call Laurie today for an appointment to view ocean front luxury high rise condos for sale in Alamitos Beach.

Alamitos Beach Condo Market Report-January-December 2007- Ocean Boulevard Corridor

Alamitos Beach – Long Beach – California

Long Beach CA Ocean Blvd Condos For Sale

Long Beach Relocation Resource Guide

Relocating to Long Beach California-Resource Guide

Alamitos Beach Condos and High Rise Condos For Sale

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	$\"\"$
$\"\"$	$\"\"$

Alamitos Beach Luxury High Rise Condos Market Report-Ocean Boulevard Corridor-90802 January-February-2008

Posted on March 12, 2008 by Laurie Manny

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Belmont Heights

244 Redondo Avenue

Long Beach California 90803

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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.

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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.

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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?

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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

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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!

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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>>>>

Long Beach Real Estate-Long Beach Homes and Condos For Sale

Buying Your Long Beach Home – Getting Started

Are You thinking about Buying a Home in Long Beach?

Long Beach Homes and Condos For Sale

Emerald Villas – Downtown Long Beach – 555 Maine Avenue

Emerald Villas – Downtown Long Beach Condos

Long Beach Home Buyer Update March 25, 2008

Long Beach Real Estate Sales-Foreclosures-Bank Owned Properties-Market Statistics

Long Beach Real Estate Market Statistics

Long Beach Homes-Issues for 1st Time Home Buyers

Alamitos Beach Luxury High Rise Condos Market Report-Ocean Boulevard Corridor-90802 January-February-2008

Alamitos Beach Luxury High Rise Condos Market Report

Ocean Boulevard Corridor

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