Long Beach Buyer Information
Buying a home in Long Beach is one of the most significant investments in your life. Not only are you choosing your dwelling place, and the place in which you will bring up your family, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be.
Our goal is to provide you with the detailed information you will need to assist you in making an intelligent and informed decision. Remember, if you have any questions about the process, contact me, Laurie Manny at (562) 212-5420.
Buying Fixer Upper Homes in Long Beach - Long Beach Real EstateBuyingFixer Upper Homes in Long Beach - Long Beach Real EstateLong Beach Real Estate Buying Fixer Upper Homes in Long Beach
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.
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:
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.
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 a home 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
http://www.longbeachrealestatehome.com/0042EC
Posted on September 04, 2008 23:30:26 by Laurie.Manny
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Alamitos Beach Condos Market Report-2008-Long Beach Real Estate SalesAlamitos Beach Condos Market Report-2008-Long Beach Real Estate SalesAlamitos Beach Condos Market Report2008 Long Beach Real Estate Sales
Ocean Boulevard Corridor Condo Sales
January 1, 2008 - August 29, 2008
Active
There are currently 54 Ocean Blvd Corridor Condos For Sale in Alamitos Beach, many with fantastic waterfront views, some with city views.
Alamitos Beach Condos and High Rise Condos For Sale
Pending
4 Alamitos Beach Condos on Ocean Blvd. are pending in escrow.
Back Up Offers
3 Alamitos Beach Condos on Ocean Blvd. are in escrow accepting back up offers:
Closed Sales:
37 Alamitos Beach Condos on Ocean Blvd. have closed escrow this year (2008) to date:
Cancelled 39 - Alamitos Beach Condos listed for sale on the Ocean Blvd. corridor were taken off of the market. Average Days on Market: 145 Expired 46 - Alamitos Beach Condos on the Ocean Blvd. corridor, listed for sale, expired in 2008, Average Days on Market: 160
Hold 3 Alamitos Beach Condo Owners have placed the sale of their homes on hold. Leased 3 Alamitos Beach Condos have been leased.
Long Beach Relocation Resource Guide
Downtown Long Beach Condos For Sale
Downtown Long Beach Homes For Sale
Prefer Luxury Waterfront Long Beach Homes with room for a boat?Try Spinnaker Bay.
Or perhaps the Belmont Shore and Naples areas:
http://www.longbeachrealestatehome.com/003931
Posted on August 29, 2008 23:22:08 by Laurie.Manny
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Alamitos Beach Homes Market Report-2008-Long Beach Real EstateAlamitos Beach Homes Market Report-2008-Long Beach Real EstateAlamitos Beach Homes - Market Report - 2008
Home sales have picked up a little bit and prices have been holding steady in the Alamitos Beach area for the last couple of months. Lenders have tightened up on lending standards, interest rates are lurking around 6.5%, buyers must be pre-qualified, and down payments are necessary. First time buyers should be aware that FHA has a 3% down payment loan that is reported to be increasing to 3.5% on October 1, 2008. It's a smart buyer that has a lock in letter and a loan commitment from their lender to protect themselves. There are some strong buyers on the market right now and they are looking to purchase the most their money will buy. There are some really great buys available right now, well priced homes are receiving multiple offers and investors are out shopping. This is a great time to be on the market priced to sell; it's a fantastic time to buy.
There are currently 13 Alamitos Beach Homes for Sale Average Price: $785,376 Average Days on Market: 108
0 homes in Alamitos Beach are in escrow accepting back-up offers.
3 homes in Alamitos Beach are currently pending in escrow. Average Price: $311,600 Average Days on Market: 13
8 Alamitos Beach Homes have Sold (closed escrow) in 2008. Average Price: $439,125 Average Days on Market:75
9 Alamitos Beach homeowners cancelled their listings. Average Price: $491,433 Average Days on Market: 113
8 Alamitos Beach homes listings expired. Average Price: $542,487 Average Days on Market: 189
1 Alamitos Beach Home for sale was leased.
Alamitos Beach Condos Market Report-2008-Long Beach Real Estate SalesRelocating to Long Beach California-Resource Guide
http://www.longbeachrealestatehome.com/003B8F
Posted on August 29, 2008 22:08:13 by Laurie.Manny
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Sunday Afternoon in Belmont Shore - Long Beach CaliforniaSunday Afternoon in Belmont Shore - Long Beach CaliforniaSunday Afternoon in Belmont Shore
Long Beach CaliforniaAugust 24 2008
Today was the most gorgeous day here in Long Beach. Is it any wonder why we all love it here so much? I was out showing homes today to a new buyer, when we were through I drove into Belmont Shore and up Bayshore along the canal. It was about 5:30 in the afternoon and many people were enjoying the beach. Adults and children alike were in the water swimming, paddling around on boogie boards, and kayaking, others were relaxing on the sand. Small boats were slowly making their way down the canal.......it was perfection. It is what Long Beach is all about.
I parked the car, grabbed both cameras and walked onto the bridge above the canal. The tide was high, several boats that had been out for the day weren't able to make it back under the bridge to return home were turning around to travel another route home. People were out on the water having fun, the sun was glistening and the water was an incredible azure blue, as was the sky. Today was a gorgeous day here in Long Beach.
In the background music could be heard, a 3 piece band had set up on the end of one of the docks on the other side of the bridge. Nice background for the end to a perfect day, thanks for adding a beat to it.
Residents of Belmont Shore and Naples Island were walking to the beach with sand chairs tucked under their arms planning on finishing their day off relaxing on the sand while the sun sank in our sky. What a great way to end the day and a wonderful weekend. Relocating to Long Beach California-Resource Guide
Belmont Shore Homes For Sale
Belmont Shore Condos For Sale
Belmont Shore Income Properties For Sale
http://www.longbeachrealestatehome.com/004213
Posted on August 24, 2008 23:50:45 by Laurie.Manny
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Downtown Long Beach Real Estate Sales-Market ReportDowntown Long Beach Real Estate Sales-Market Report-Homes-Condos-Lofts-Coops-OYOs-Income PropertiesDowntown Long Beach Real Estate Sales-Market Report
Homes, Condos, Coops, OYOs, Income Properties Updated 8/11/08
Downtown Long Beach HomesThere are 28 Downtown Long Beach Homes For Sale ranging in price from $184,900 to $1,300,000. 4 homes are for sale under $200,000 4 homes are for sale between $200,000 and $300,000 7 homes are for sale between $300,000 and $400,000 5 homes are for sale between $400,000 and $500,000 Average Price: $432,110 Average Days on Market: 140 There are 2 Downtown Long Beach Homes pending in escrow 1 @ $219,000 1 @ $275,500 Average Price: $247,250 Average Days on Market: 53 3 Downtown Long Beach Homes have closed escrow in 2008. 1 @ $184,000 1 @ $330,000 1 @$355,000 Average Price: $289,666 Average Days on Market: 8
Downtown Long Beach Condos, Coops and OYOsThere are 182 Downtown Long Beach Condos For Sale ranging in price from $75,000 to $2,699,999. Average Price: $410,332 Average Days on Market: 99 There are 14 Downtown Long Beach Condos in escrow accepting Back-Up offers. Average Price: $288,750 Average Days on Market: 79 There are 24 Downtown Long Beach Condos Pending in escrow. Average Price: $255,854 Average Days on Market: 95 84 Downtown Long Beach Condos have sold (closed escrow) in 2008. Average Price: $325,239 Average Days on Market: 88
Downtown Long Beach LoftsThere at 30 Downtown Long Beach Lofts For Sale ranging in price from $244,990 to $875,000. Average Price: $548,656 Average Days on Market: 168 There are no Downtown Long Beach Lofts in escrow at this time. 8 Downtown Long Beach Lofts have sold (closed escrow) in 2008. Average Price: $559,812 Average Days on Market: 139
Downtown Long Beach Income PropertiesThere are 45 Downtown Long Beach Income Properties For Sale ranging in price from $225,000 (duplex) to $1,999,999 (18 units). Average Price: $735,611 Average Days on Market: 119 5 Downtown Long Beach Income Properties are Pending in escrow. Average Price: $506,940 Average Days on Market: 62 15 Downtown Long Beach Income Properties have sold (closed escrow) in 2008. Average Price: $741,706 Average Days on Market: 111
Call Laurie to view Downtown Long Beach Properties Laurie knows Downtown! http://www.longbeachrealestatehome.com/0040C8
Posted on August 14, 2008 12:20:11 by Laurie.Manny
Laurie.Manny 2 feedbacks »
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To begin your search for the perfect home or to sell your home in the Long Beach area, begin your journey by calling Laurie Manny at (562) 212-5420.
