Spinnaker Bay Home Sales Market Update – Luxury Waterfront Homes and Townhouses – Long Beach Real Estate

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Spinnaker Bay Home Sales

Market Report 2007 and 2008

Spinnaker Bay – Long Beach California

Luxury Waterfront Homes and Townhouse Sales

1 Spinnaker Cove Luxury Townhouses For Sale

1. Waterfront Townhouse on widest section with Upgrades, 40′ Boat Slip, 1,748 sq ft, HOA $575 + $106

4 Spinnaker Bay Luxury Homes For Sale

1. Beautiful Newly Upgraded, 27′ Boat Slip, 2,032 sq ft, HOA $140+ $130
2. Highly desirable immaculate home on greenbelt with spa, 2,323 sq ft, HOA $140
3. Waterfront home with 24′ Boat Slip, 2,307 sq ft, HOA $145 + $135
4. Coveted corner luxury home with 33′ Boat Slip, 2,323 sq ft, HOA $145 + $135
   

12 Spinnaker Bay Homes have Sold – Closed escrow in 2008.

• Average Sale Price: $1,314,358
  
• Average Days on Market: 170
  

Spinnaker Bay Luxury Homes and Townhouses – Sales 2008

RES	Status	Type	Address	Bd	B t/f	Sty	Gar	SqFt	Yr Blt	Price	DOM
1	A	CONDO	5542 Azure Way	3	3/2	2	2 A	1,748	1982	$1,099,000	131
2	A	SFR	314 Parsons Lndg	3	3/2	2	2 A	2,323	1990	$1,249,000	172
3	A	SFR	5524 Spinnaker Bay Dr	3	3/2	2	2	2,032	1989	$1,259,000	473
4	A	SFR	338 Blue Cavern Pt	3	3/2	2	2 A	2,307	1989	$1,549,000	50
5	A	SFR	346 Parsons Lndg	3	3/2	3	2	2,323	1990	$1,625,000	72
6	S	CONDO	5400 Heron Bay	3	3/2	3	2 A	1,769	1982	$735,000	169
7	S	CONDO	5405 Heron Bay	3	3/3	2	2 A	2,202	1982	$780,000	130
8	S	SFR	310 Blue Cavern Pl	3	3/2	S	2	2,307	1989	$900,000	160
9	S	SFR	310 Casino Pt	3	3/2	2	2	2,265	1997	$1,285,000	2
10	S	SFR	5580 Spinnaker Bay Dr	3	3/2	2	2	2,032	1989	$1,302,000	54
11	S	SFR	5960 Spinnaker Bay Dr	3	2.5/	2	2 A	2,560	1998	$1,323,000	239
12	S	SFR	319 Empire Lndg	3	3/1	2	2 A	2,429	1989	$1,400,000	54
13	S	SFR	346 Blue Cavern Pt	3	3/2	2	2 A	2,032	1989	$1,493,500	284
14	S	SFR	343 Whites Lndg	3	3/2	2	2	2,265	1993	$1,600,000	74
15	S	SFR	335 Salta Verde Pt	3	4/3	2	2	2,693	1998	$1,573,800	399
16	S	SFR	5549 Toyon Bay	3	3/2	2	2	2,429	1989	$1,625,000	136
17	S	SFR	350 Salta Verde Pt	3	3/2	2	2 A	2,560	1998	$1,755,000	333

Spinnaker Bay Luxury Home with 40′ Boat Slip	350 Salta Verde Pt.
Buyer Represented by	Offered at $2,225,000
Laurie Manny	Sale Price $1,755,000

Spinnaker Bay Luxury Homes and Townhouses – Sales 2007

6 Spinnaker Bay Luxury Homes and 4 Townhouses – Sold – Closed Escrow – in 2007

RES	Type	Address	Zip	TGNO	Bd	Bth	Sty	Gar	SqFt	Yr Blt	Price	DOM
1	CONDO	5409 Heron Bay	90803	796C7	3	3	2	2 A	2,202	1982	$825,000	60
2	CONDO	5418 Heron Bay	90803	826C1	3	3	S	2 A	1,748	1982	$950,000	34
3	CONDO	5403 Heron Bay	90803	796C7	3	3	2	2	2,202	1982	$1,050,000	37
4	CONDO	5532 Azure Way	90803	826C1	3	3.5	2	2 A	2,068	1982	$1,347,500	10
5	SFR	5564 Spinnaker Bay Dr	90803	826C1	3	2.5	2	2 A	2,032	1989	$1,350,000	132
6	SFR	330 Whites Landing	90803	826C1	3	2.5	2	2	2,003	1995	$1,560,000	89
7	SFR	5757 Spinnaker Bay Dr	90803	826C1	3	3	2	2 A	2,429	1990	$1,550,250	28
8	SFR	323 Blue Cavern Pt.	90803	826C1	3	3	2	2 A	2,032	1989	$1,575,000	161
9	SFR	351 Whites Landing	90803	826C1	4	2.75	2	2 A	2,531	1993	$1,920,000	334
10	SFR	6085 Prince Island	90803	826C1	3	2.5	2	2 A	2,430	1998	$2,150,000	324

• A – For Sale
• P – Pending in Escrow
• B – In Escrow, accepting Back-up offers
• S – Sold – Closed Escrow
• DOM – Days on Market
• TGNO – Thomas Guide Map Number

Call Laurie today for your appointment to view beautiful Spinnaker Bay Luxury Dream Homes and Townhouses

(562) 212-5420

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Spinnaker Bay Home Sales Market Update – Luxury Waterfront Homes and Townhouses – Long Beach Real Estate

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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Long Beach California Luxury Home Market Update

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

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Long Beach Real Estate News

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.

 

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. 

 

• Paint interior and exterior
  
• Carpet or sanding/replacing hardwood or tile flooring.
  
• Kitchen Remodel or refacing
  
• Bath full or partial remodel

 

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?

Lets 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.

 

A 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

 

 

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

Are YOUR Granite Countertops "HOT"? -Long Beach Real Estate

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Are your Granite Countertops “HOT”?

Granite Countertops are one of the top selling points for homes and condos.  In a recent article “Words that Sell Homes”, it was disclosed that the word Granite was one of the 7 top words that help sell a home. When thinking about a Long Beach Home Kitchen Remodel, it is the Granite counter-top that is the finishing touch.  Will you go dark or light?  A lot of texture or more sedate? Domestic or Imported? Almost everybody loves granite countertops. 

 

Recently the NY Times published an article raising questions regarding harmful levels of radon gases being emited by the breadown of uranium in the many varieties of granite countertops.  Radon is a radioactive gas that can cause lung cancer.

 

Having read through many of the articles available on the internet most suggest that the countertops emitting the highest levels of radiation seem to be those imported from Brazil and Namibia.

 

The Marble Institute of America has said such claims are “ludicrous” because although granite is known to contain uranium and other radioactive materials like thorium and potassium, the amounts in countertops are not enough to pose a health threat.

 

If you have granite countertops and are concerned whether radon or radiation is a problem you can:

 

1. Contact the American Association of Radon Scientists and Technologists (aarst.org). Testing costs between $100 and $300.
2. Find a certified technician at the Environmental Protection Agency’s Web site at epa.gov/radon, as well as from state or regional indoor air environment offices, which can be found at epa.gov/iaq/whereyoulive.html.
3. Radon test kits are available from the National Safety Council  (or call 1-800-SOS-RADON).  Some home improvement stores sell test kits.  To find a qualified testing or mitigation contractor, contact your state radon office or either of the national private radon programs.

 

Articles on the subject you might be interested in reading: 

 

• What’s Lurking in Your Countertop? – NY Times
  
• Granite Countertops A Health Threat? – CBS News
  
• Radon in Granite
• Could your granite countertops be leaking radon gas?
• Granite Countertops & Radon Gas

 

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Are YOUR Granite Countertops "HOT"? -Long Beach Real Estate

Feng Shui Influences How Bay Area Houses Are Priced

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Feng Shui Influences How Bay Area Houses Are Priced

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The Long Beach Real Estate Home Blog is pleased to welcome guest author, San Mateo California Realtor, Leonore Wilkas of The Wilkas Group. 

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Living on the San Francisco Peninsula as I do, with our large Asian population, we find all kinds of Asian influences creeping into our daily lives. One of the biggest is Feng Shui, a Chinese mysticism of sorts, where it is believed that your life can improve by doing little things within your living environment through the placement of furniture, artwork, or even the front door of a house. It’s a serious business around here with many experts helping Realtors and non-Asians prepare their houses for sale so that the house will sell quickly.

Having harmony in life promotes wealth, prosperity, good health, and chi – the movement of the air around you. The Chinese are superstitious people. If they believe the Feng Shui is bad at a property, they will not look at it, or seriously consider buying it unless they think the bad Feng Shui can be over come.

Numbers play a big influence in Feng Shui

 

Certain numbers can prevent someone from even considering a property unless they can have a Feng Shui master come and correct the chi of the house. In our area, the number 8, believed to mean wealth, is often seen within the listing price of a home. Asians believe that numbers can create harmony within the house. If the price of the home reflects certain numbers such as 1, 6, or 8, it is considered to be positive so it’s very common to price homes with the number 8 somewhere in the price, for example you might see a house listed at $618,988, $888,888 or $1,886,688. The worst numbers to use are 2 and 5 and if I, as an agent, want to attract a buyer who follows Feng Shui, I will avoid them, if I can.

 

But, that’s only part of the issue with numbers. What do you do if the house number is considered bad Feng Shui? What if the numbers are really bad like 4, 13, 24, or 104? You can’t exactly change them, can you? No, not if you’re trying to sell the house, so you must use little Feng Shui tricks to provide protection to the property.

 

Have you ever noticed houses with two large lion-type animals sitting at the front entrance to a house in your neighborhood or city? These are called Foo dogs and they’re placed there to protect the house from bad chi.

 

If you’re unlucky enough to have house numbers that are considered bad chi you place a circle around your house numbers and protect the chi.

 

When you see wind chimes anywhere near the entrance of a house, it is considered good luck. Is there a birdbath or water feature somewhere in the front or back yard? They may be trying to improve the chi, or energy, of the house.

The power of Feng Shui is believed in by a whole lot of people on this planet. Many other cultures have similar beliefs. The Japanese and Indians also look at numerology in their daily lives. Japanese like odd numbers like 3, 5 and 7. The Indians believe in a Destiny number that is the total number for your birthday. If you were born on March 1^st, 1968, the numbers would be written out like this: 03.01.68 = 18, 1+8 = 9, and 9 would be your Destiny number. Numerology has been around for thousands of years and is believed by millions of people.

What are the lucky numbers for Feng Shui?

 

8, 18, 28, 38, 48, 54, 68, 80, 84, 88, 99, 168, and 108.

The number 8 is considered lucky because of how the word sounds in Cantonese. It sounds a little like the word faat (more like you saying phat) and it means prosperity and abundance. Something we all wish for, right?

What are the unlucky numbers?

4 – is considered the worst number because when it’s spoken in Cantonese it sounds like the word for death.

13 – if you add 1+3 it equals 4.

24 and 104 are also considered unlucky.

7 is considered unlucky, too!

Next month, on August 8^th, or 08.08.08, the Chinese people will be trying to either get married on that date or hope to deliver their babies on that date, because of these auspicious numbers. This might be the reason that the Olympics will start on this date.

 

I have had clients bring in a Feng Shui master to make simple corrections to houses with bad numbers. I have also seen people request a number change from the city and post office. Sometimes this is the easiest thing to do.

Does the number 8 help sell a house faster? Who knows? I try to put at least one 8 in every listing price I have. I do notice that we see a lot of Asian’s coming through our open houses, so maybe it is helpful. Realtors are superstitious, too, so anything that we can do to help our clients sell their homes we’re probably going to try. As long as it’s legal, that is!

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Contributed by: San Mateo Realtor, Lenore Wilkas; author of the San Mateo Real Estate News Blog

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Feng Shui Influences How Bay Area Houses Are Priced