Alamitos Beach Condos-Market Report-2008-Long Beach Real Estate Sales

Alamitos Beach Condos Market Report

2008

Long Beach Real Estate Sales

Ocean Boulevard Corridor Condo Sales

January 1, 2008 - June 3, 2008

Active

There are currently 59 Ocean Blvd Corridor Condos For Sale in Alamitos Beach, many with fantastic waterfront views, some with city views. 

• 17 of these condos are priced under $500,000 and range from 580 sq ft to 1,128 sq ft.
• 28 of these condos are priced between $500,000 and $1,000,000 and range from 846 sq ft to 1,850 sq ft. 
• 13 of these condos are priced between $1,000,000 and $1,499,000 and range from 1,264 sq ft to 2,065 sq ft. 

Pending

5 Alamitos Beach Condos are pending in escrow.

• 3 bedroom, 2 bath, 1,535 sq ft., $930,000, 51 Days on Market
• 2 bedroom, 2 bath, 1,245 sq ft., $619,000, 182 Days on Market
• 3 bedroom, 2 bath, 1,818 sq ft., $774,900, 83 Days on Market
• 3 bedroom, 2.5 baths, 1,788 sq ft, $799,900, 100 Days on Market
• 2 bedroom, 2 bath, 1,590 sq ft., $910,000, 82 Days on Market

Back Up Offers

4 Alamitos Beach Condos are in escrow accepting back up offers:

• 1 bedroom, 1 bath, 732 sq ft., $459,000, 73 Days on Market
• 3 bedroom, 2 bath, 1,320 sq ft., $699,900, 51 Days on Market
• 3 bedroom 3 bath, 1,788 sq ft., $899,000, 15 Days on Market
• 3 bedroom, 2 bath, 1,800 sq ft., $1,649,000, 120 Days on Market

Closed Sales:

17 Alamitos Beach Condos have closed escrow this year (2008) to date: 

• 9 Under $500,000
• 6 Between $500,000 and $1,000,000
• 2 over $1,000,000
  

Cancelled

29  - Alamitos Beach Condos listed for sale on the Ocean Blvd. corridor were taken off of the market.  Average Days on Market: 155

Expired

34 - Alamitos Beach Condos on the Ocean Blvd. corridor, listed for sale, expired in 2008, Average Days on Market: 155

• Long Beach CA Ocean Blvd Condos For Sale

• Alamitos Beach Luxury High Rise Condos Market Report-Ocean Boulevard Corridor-90802-January-December 2007
  

Long Beach Relocation Resource Guide

• Relocating to Long Beach California-Resource Guide

Alamitos Beach Condos and High Rise Condos For Sale

• Alamitos Beach Condos For Sale $400000 to $500000
• Alamitos Beach Condos For Sale $500000 to $600000
• Alamitos Beach Condos For Sale $600000 to $800000
• Alamitos Beach Condos For Sale $800000 to $1000000
• Alamitos Beach Condos For Sale $1000000 and more
• Alamitos Beach-Downtown Long Beach-Ocean Blvd Condos For Sale-Long Beach Real Estate For Sale

Downtown Long Beach Condos For Sale

• Downtown Long Beach-Alamitos Beach-Ocean Blvd Condos For Sale
• Emerald Villas Condos-555 Maine Ave-Downtown Long Beach Condos For Sale-Long Beach Real Estate For Sale
• Sunset Pointe Condominiums-640 W 4th St-Downtown Long Beach Condos For Sale-Long Beach Real Estate For Sale
• Golden Gate Square Condos-730 W 4th St-Downtown Long Beach Condos For Sale-Long Beach Real Estate For Sale
• Ocean Gate Square Condos-720 W 4th St-Downtown Long Beach Condos For Sale-Long Beach Real Estate For Sale

Downtown Long Beach Homes For Sale

• Downtown Long Beach Homes For Sale $500000 and up
• Downtown Long Beach Homes For Sale $300000 to $500000
• Downtown Long Beach Homes For Sale Under $300,000

Prefer Luxury Waterfront Long Beach Homes with room for a boat?

Try Spinnaker Bay. 

Or perhaps the Belmont Shore and Naples areas:

• Belmont Shore and Naples Condos For Sale-Long Beach Real Estate
• Belmont Shore Naples Homes For Sale in Long Beach CA $2000000 and up
• Belmont Shore CA Homes for sale under $1000000
• Belmont Shore-Naples Homes For Sale in Long Beach California $1000000 to $2000000
• Marina Pacifica Condos for Sale Long Beach CA
• Bay Harbour Homes For Sale Long Beach California

Posted on June 03, 2008 17:17:20 by Laurie.Manny

Seeking California Heights Historic Home For Sale

If you are thinking about selling and have a Historic California Heights Home that is not yet on the market, I have a specific, highly qualified "A" credit buyer, with a large down payment, who may be interested in purchasing your home. This is not a solicitation to list your home. This buyer is quite real, as am I. This is not the first time I have reverse prospected a Long Beach home for a buyer looking for something a little extraordinary.

The buyers are a young professional couple, both doctors, who are purchasing their first home with a large inheritance. They have a sizable down payment, FICO scores in the 800 range, are already pre-approved, are ready to purchase and pay market price. All they need is the right home.

They have been in escrow on another home in the California Heights Historic District. Inspections revealed large problems with the home, none of which was the seller willing to remedy in any way. The home was priced at market, which was too high once the actual condition of the home was revealed.

We are seeking a Historic California Heights home in good and solid condition. That doesn't mean it has to be perfect, but several serious structural issues proved to be too much to deal with. The home should be at least 2 bedrooms, 2 baths, Spanish style is preferred, but we are not limited to this style, wood floors, coved ceilings, garage, lot size is not as important as condition. Historic status is a major plus.

 Homes are sitting on the market for long periods of time, many not selling at all. If you are thinking about selling your California Heights Historic home at any time in the near future, it would not be a waste of your time to call me to discuss the possibilities. Just think, a quiet easy sale and no trail of people coming through your home for months on end.

What I propose is very simple. If you already have an exclusive Long Beach Realtor®, have them give me a call. If you do not already have a Realtor or would like to save a substantial sum of money on commission, I can make this very appealing to everybody.

Call Laurie for details (562) 212-5420

Posted on May 29, 2008 20:59:28 by Laurie.Manny

Selling Your Long Beach Homes-Long Beach Real Estate

Yay!  The Down Market is OVER!

No 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. 

Read more »

Posted on May 24, 2008 19:51:57 by Laurie.Manny

Long Beach California Real Estate Sales

Long Beach California Real Estate Sales Update

January - April 2008

The real estate market in Long Beach has begun to shift.  We have witnessed a steady rise in homes and condos for sale in Long Beach since the beginning of the year, as is witnessed by the chart provided.  Buyers who have been waiting out the real estate market hoping to get that incredible deal are now buying those Long Beach homes and condos they have been wanting. 

Interest rates are still great, although lenders are tightening up on lending standards.  It is getting more difficult to procure a home loan unless your income and credit scores are high, your credit history is good and your debt ratio is low.  As we progress into the summer months lending standards will become even more stringent.   

• Long Beach Mortgage Rates Reports

If you are one of the consumers who has been sitting on the sidelines waiting for Long Beach real estate prices to drop before you begin your buying process, you might want to speak to a mortgage lender pretty soon.  Run your credit, find out if you qualify for a home loan sufficient to make that purchase.  You may also decide to go ahead and buy now while Long Beach prices are low, some concessions are still being granted and home loans are still available to consumers with less than pristine credit. 

• Long Beach Homes & Condos-7 Steps to Pre-Home Purchase Preparedness 
• Buying Your Long Beach Home - Getting Started 
• Long Beach Home Search-Where do I start? 
• New FHA Loan Limit For Long Beach Homes
  
• Long Beach Homes - To Buy or Not To Buy? 
• Long Beach Homes and Condos - Negotiating Your Offer 
• Long Beach Home Ownership - 1st Time Home Buyers and The American Dream 

 Real Estate Sales in Long Beach California - 2008 - Year to Date

• Long Beach Homes and Condos Market Report-Jan-Dec Home Sales 2007 
• Long Beach Income Property Market Report-January-December 2007-Including Signal Hill 
• Downtown Long Beach Stock Co-operatives 

Read more »

Posted on May 03, 2008 17:37:51 by Laurie.Manny

Long Beach Real Estate - A Peek Inside the Business of Selling Long Beach Real Estate

Here on our Long Beach Real Estate site I usually write purely real estate related articles targeted at educating and informing buyers and sellers of Long Beach Real Estate. Today I would like to give you a little peek into the business side of things and explain how they can affect the sale or purchase of your Long Beach homes.

In a recently published post I disclosed the 2008 closed sales in Long Beach; 674 of them, through 4/30/08. While the chart shows the sales increasing each month, the sales figures are still very low. (Includes sales of homes, condos, lofts, co-ops, Oyos, 2-4 units and 5+ units as recorded on the MLS)

• Jan 130
• Feb 153
• Mar 179
• Apr 212
• Total: 674

These are difficult times for those of us surviving in the real estate industry. Going into this down market there were about 2900 licensed Realtors on record, there are currently about 1600 licensees active in the Long Beach area. Every market will support a certain amount of agents based on the closed sales of that market. Each agent needs a certain amount of closed sales in order to survive. Lets assume that 8 to 10 closed sales for the year are required for a Realtor to even survive this market; 674 closed sales would produce 8 to 10 sales for the year, for between 200 and 250 Realtors. Those sales are currently spread across 1600 current licensees, which would equate to less than ½ of a sale for each Realtor for the first 4 months of 2008.

In the real estate industry we have an 80/20 saying. It states that 20% of the agents do 80% of the business. 20% of 1600 agents = 320 which would equate to about 2 closed sales for the majority of the 20% still doing business.

So how are 1600 Realtors surviving a market with sales that will currently only support 200 to 250?

• Some have other income, or a spouse or significant other with income.
• Some have taken on Part or Full time jobs, while trying to juggle their real estate.
• Some have anticipated this market and made plans to survive it.
• Some are making enough sales to manage.

What of the 80%? That is 1280 agents, still active, for the last 4 months. How are they surviving with little or no sales? Well, they either have spousal support a trust fund or they have accepted salaried positions. Lets take a look at that. Real estate is a more than full time job; it is a commitment which permeates every hour of every day of our lives. Real estate transactions require a lot of attention on a daily basis. Escrow, title, lenders, inspections, appraisers banks and more need to be attended to, mostly during normal business hours. Buyers need to see properties around their schedules which often means after work or weekend showings. Sellers properties often need tending, flyers run out; keys go missing from a lock box or end up in another box on the same property. A pipe may burst on a listing with an out of town owner; anything can happen. How is an agent who has accepted employment elsewhere, with a set schedule, going to be able to deal with the schedule and responsibilities of a full time Realtor? How does that affect the buyer or seller? Has the agent even disclosed to the buyer or seller that they are not fully available? Do you know if your agent is available to conduct business, full time on your behalf?

Read more »

Posted on May 01, 2008 23:00:00 by Laurie.Manny