Belmont
Heights Neighborhood Market Report
Jul 14 Long Beach Mortgage Rates Report - July 14, 20082 comments »Mortgage rates in Long Beach, California for July 14, 2008. Loan amounts up to $417,000:
7/1 ARM 5.625% 10/1 ARM 5.750% 30 Yr Fixed 6.000%
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Jul 05 California Heights Historic District Homes 2008 Market Report - Long Beach Homes Sales2 comments »California Heights Historic District Homes 2008 Market Report
Its like going back in time or Living in History. If you would like to live in a community with old-fashioned ambience, you have found it! Take a stroll down the tree-lined avenues lit by renovated antique street lamps. Along the way, you´ll see a wide variety of home styles including Ranch, Tudor Revival, Spanish Colonial Revival, lovely Victorians and the well-known Craftsman Bungalows.
From the massive front porch timbers of the Craftsman Bungalow to the intricately detailed Victorian woodwork...theres a historic home style here to suit every preference.
Founded in 1926 California Heights is comprised of approximately 1500 homes within a 50 block area, most lovingly restored, and was named the West's Best Neighborhood by Sunset Magazine.
California Heights Historic District is bounded by:
Saving Money with the Mills ActAre you concerned about how you will afford to maintain your Historic Long Beach Home? The Mills Act makes preservation easy! This 10 year endlessly renewable contract with the city provides tax incentives to owners of Long Beach Historic Properties.
Average 2008 sale price in the Cal Heights neighborhood is currently $510,999; averaging 100 days on market. With 28 closed sales so far this year; sales in the Cal Heights community are doing quite well in this market. Contact Laurie for an appointment to view any of the 22 homes for sale in the California Heights neighborhood of Long Beach (562) 212-5420:
At this time I have a young professional couple seeking a California Heights home. We have not been able to locate quite what they are looking for. If you are thinking about selling your California Heights home, please read this article for the details: Seeking California Heights Historic Home For Sale
1 California Heights Home is currently accepting back up offers: Offered at: $635,000 Days on Market: 164 5 California Heights Homes are currently pending in escrow: Average Price: $539,000 Average Days on Market: 53
1 California Heights home is currently on hold: Listing Price: $635,000 Days on Market: 112
28 California Heights Homes have sold this year: Average Price: $510,999 Average Days on Market: 100
2 California Heights homes for sale were leased: Average Days on Market: 140 2 California Heights homeowners Withdrew their homes from the market: Average Price: $442,000 Average Days on Market: 76 11 California Heights homeowners cancelled their listings: Average Price: $539,618 Average Days on Market: 11 8 California Heights home listings expired: Average Price: $647,606 Average Days on Market: 190
Contact Laurie to begin your search for your California Heights Home (562) 212-5420
Are you thinking about selling your California Heights home? Internet exposure and marketing has never been more important. Expansive internet exposure will drive many buyers to view your home. Hire an internet savvy Realtor. Contact Laurie (562)212-5420
Why Hire an Internet Savvy Realtor?
Over 80% of all home searches start on the internet. Your Long Beach homes need to be online, and findable, when buyers begin their search. Have the Realtors you interview show you their ability to market your Long Beach properties on the internet. Step back; pick keywords that should bring that item to the front page of Google; keywords like Long Beach Real Estate. Are any of the sites that your Realtor is using to promote your property coming up at the top of the engines? No? Keep shopping. Better yet, call the Realtors on the front page of Google, they already know how to get there and you can cut right through the unlikely candidates. Over 25% of all Home Buyers FIRST saw the home they purchased on the internet. If your Long Beach homes are not heavily marketed on the internet, you are missing thousands of potential buyers. Laurie believes in marketing your Long Beach home for all that it is worth! Visit our Long Beach Real Estate blog site for more helpful information and Updates: Long Beach Real Estate Home Blog>>>
California Heights Homes For Sale
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Jun 29 Belmont Heights Condos-Market Report-2008-Long Beach Real Estate Sales5 comments »
Condo Sales in Belmont Heights are picking up a bit. The availability of lower priced units has todays buyers out shopping. The plethera of available short sale and bank owned condos has brought prices down in Belmont Heights. Smart sellers are pricing their condos to sell instead of chasing the market down, which is never a good idea. Smart buyers are out shopping. There are currently 51 condos for sale in Belmont Heights. Average Price: $381,192 Average Days on Market: 106 10 condos in Belmont Heights are in escrow accepting back-up offers. Average Price: $387,982 Average Days on Market: 58 3 condos in Belmont Heights are currently pending in escrow. Average Price: $286,633 Average Days on Market: 23 38 condos in Belmont Heights have Sold (closed escrow) in 2008. Average Price: $391,678 Average Days on Market: 112 2 condos in Belmont Heights are curretly on hold (no showings) Average Price: $341,500 Average Days on Market: 34 25 Belmont Heights condo owners have cancelled their listings. Average Price: $461,140 Average Days on Market: 69 3 Belmont Heights condos have withdawn from the market. Average Price: $547,666 Average Days on Market: 63 24 Belmont Heights condo listings have expired. Average Price: $422,920 Average Days on Market: 167 1 Belmont Heights condo for sale has been leased.
Contact Laurie to begin your search for your Belmont Heights Condo (562) 212-5420
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Jun 29 Belmont Heights Homes-Market Report-2008-Long Beach Real Estate SalesLeave a comment »
Home Sales in Belmont Heights are picking up. The availability of lower priced homes has todays buyers out shopping. The plethera of available short sale and bank owned homes has brought prices down in Belmont Heights. Well priced homes are often receiving multiple offers. Smart sellers are pricing their homes to sell instead of chasing the market down, which is never a good idea. If you do not need to sell, this is not the time to be on the market. Smart buyers are out shopping. There are currently 68 homes for sale in Belmont Heights. Average Price: $1,111,793
Average Days on Market: 91 6 homes in Belmont Heights are in escrow accepting back-up offers. Average Price: $804,650 Average Days on Market: 83 2 homes in Belmont Heights are currently pending in escrow. Average Price: $1,019,000 Average Days on Market: 34 42 homes in Belmont Heights have Sold (closed escrow) in 2008. Average Price: $820,619 Average Days on Market: 85 27 Belmont Heights home owners have cancelled their listings. Average Price: $967,201 Average Days on Market: 119 6 Belmont Heights homes have withdawn from the market. Average Price: $1,056,000 Average Days on Market: 104 22 Belmont Heights single family home listings have expired. Average Price: $912,881 Average Days on Market: 153
Contact Laurie to begin your search for your Belmont Heights Home (562) 212-5420 Are you thinking about selling your Belmont Heights home? Internet exposure and marketing has never been more important. Expansive internet exposure will drive many buyers to view your home. Hire an internet savvy Realtor. Contact Laurie (562)212-5420
Why Hire an Internet Savvy Realtor?
Over 80% of all home searches start on the internet. Your Long Beach homes need to be online, and findable, when buyers begin their search. Have the Realtors you interview show you their ability to market your Long Beach properties on the internet. Step back; pick keywords that should bring that item to the front page of Google; keywords like Long Beach Real Estate. Are any of the sites that your Realtor is using to promote your property coming up at the top of the engines? No? Keep shopping. Better yet, call the Realtors on the front page of Google, they already know how to get there and you can cut right through the unlikely candidates. Over 25% of all Home Buyers FIRST saw the home they purchased on the internet. If your Long Beach homes are not heavily marketed on the internet, you are missing thousands of potential buyers. Visit our blog for more helpful Long Beach Real Estate Information and Updates Long Beach Real Estate Home Blog>>>
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Jun 28 Investment Properties Market Report-2 to 4 units For Sale-Long Beach Real Estate2 comments »
Sales of Investment properties (2 -4 units), formerly a robust market here in Long Beach have slipped into the abyss along with homes and condos for the last few years. As with Long Beach homes and condos many owners of these investment properties have been facing difficulties meeting the financial responsibilities of ownership, some have already lost their properties to foreclosure. Bank owned investment properties are starting to come available which is beginning to bring back the dormant investment property market here in Long Beach. Investors are finding some great deals, several which will deliver an instant return on investment (ROI). The days of a 14 + gross rent multiplier are gone. We are beginning to see GRM's back in the healthy 10 range once again. Many of these available properties are short sales. Given the level of attention and interest the banks have been showing short sales these days, many of these are likely to be tomorrows REO properties. There are bank owned properties in the mix already and smart investors are scooping these up rather quickly. Several smart owners who would like to get out with thier shirt still attached to their backs have also priced thier investment properties to sell. Its a good time to be out shopping. Although we are part of Los Angeles County, we do not have rent control in Long Beach. This makes Long Beach an ideal place to own and operate investment properties. There are currently 195 duplexes for sale in Long Beach.Average Price: $558,084 Average Days on Market: 102 Lowest priced duplex for sale in Long Beach: $229,900 (2 one bedroom units in North Long Beach-no financials provided) Highest priced duplex for sale in Long Beach: $5,500,000 (Totally tricked out custom duplex on the sand with 360 views - no financials provided, lol...)
There are currently 77 triplexes for sale in Long Beach.
Average Price: $655,460 Average Days on Market: 132 Lowest priced triplex for sale in Long Beach: $300,000 (1 two bedroom, 1 one bedroom and 1 single, claims a gross scheduled income (GSI) of $42k and a GRM of 7.14, not a shabby return on your investment if the numbers are for real. Located in Long Beach above Downtown Long Beach and below Wrigley.) Highest priced triplex for sale in Long Beach: $1,899,000 (1 three bedroom, 1 two bedroom and 1 one bedroom (and mysterious other income of $500 per month), with a boat dock. Claiming a GSI of $73,200 and a GRM of 25.94. Yeah, it's a trophy property, but its got location, location, location - on the canal at Bayshore in Belmont Shore - and its really nice!) There are currently 121 Four Plexes for sale in Long Beach.
Average Price: $745,425 Average Days on Market: 130 Lowest priced four plex for sale in Long Beach: $425,000 (there are 3 for sale at this price) 1) No clear details - the 2 units appear to have been combined, claims huge lot, able to build more. No financial details avaiable. Might be a short sale. 2) 1 three bedroom, 2 two bedrooms and 1 one bedrrom. Claims GSI of $48,900 and a GRM of 8.69. At this price its no wonder! 3) A mixed use property. This means you will need a commercial loan and an exceptionally large down payment - 40% or higher. Comprised of 1 storefront and 3 residential units; 2 two bedrooms and a single. Claims a GSI of $46,260 and a GRM of 9.19. Again, at this price its no wonder! Note: You do understand that there is very little chance of the bank accepting an offer anywhere near this price for the 2 short sales - don't you?
Highest priced four plex for sale in Long Beach: $1,695,000 ( 1 two story, 3 bedroom upgraded owners unit, 1 two bedroom and 2 one bedrooms. Claims a GSI of $81,240 and a GRM of 20.86. Located in the heart of Belmont Heights, this one is new on the market, clean and attractive. Contact Laurie for more information, available property lists, or to purchase investment properties in Long Beach (562) 212-5420
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Laurie Manny
(562) 212-5420
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