Long Beach Real Estate-Long Beach Condos

Alamitos Beach Condos Market Report

2008

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.

• 14 condos are priced under $500,000 and range from 706 sq ft to 1,202 sq ft.
• 24 condos are priced between $500,000 and $1,000,000 and range from 736 sq ft to 1,850 sq ft.
• 15 condos are priced between $1,000,000 and $1,499,000 and range from 1,259 sq ft to 2,052 sq ft.
• 1 condo is priced at $1,850,000
  

 

• Average Price:  $788,490
• Average Days on Market:  100
  

 

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

 

Pending

 

4 Alamitos Beach Condos on Ocean Blvd. are pending in escrow.

• 1 bedroom, 1 bath, 626 square feet; $239,000
• 2 bedroom, 2 bath 1,104 square feet; $299,900
• 2 bedroom, 1 bath, 1,097 square feet; $365,000
• 2 bedroom, 1 bath, 1,245 square feet; $625,000
  

 

• Average Price:  $382,225
• Average Days on Market:  153
  

 

Back Up Offers

 

3 Alamitos Beach Condos on Ocean Blvd. are in escrow accepting back up offers:

• 1 bedroom, 1 bath,700 square feet; $245,000
• 1 bedroom, 1 bath, 814 square feet; $499,999
• 3 bedroom, 2 bathe, 1,800 square feet; $797,999
  

 

• Average Price:  $797,999
• Average Days on Market:  62
  

 

Closed Sales:

 

37 Alamitos Beach Condos on Ocean Blvd.  have closed escrow this year (2008) to date:

 

• 20 Under $500,000
• 15 Between $500,000 and $1,000,000
• 2 over $1,000,000
  

 

• Average Price:  $532,077
• Average Days on Market:  69
  

 

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 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

 

 

Downtown Long Beach Condos For Sale

• Downtown Long Beach-Alamitos Beach-Ocean Blvd Condos For Sale-Long Beach Real Estate 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 Long Beach Real Estate For Sale
• Downtown Long Beach Homes For Sale $300000 to $500000 Long Beach Real Estate For Sale
• Downtown Long Beach Homes For Sale Under $300,000 Long Beach Real Estate For Sale

 

 

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

 

 

http://www.longbeachrealestatehome.com/003931

Alamitos Beach Homes - Market Report - 2008

January 1, 2008 - August 29, 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 Sales

Relocating to Long Beach California-Resource Guide

 

http://www.longbeachrealestatehome.com/003B8F

 

Long Beach Real Estate MLS Blunders

Ever wonder why your Long Beach home or condo isn't getting showings?

As many of my regular readers know, the Long Beach Real Estate Home Blog produces a lot of Long Beach Real Estate Neighborhood Market Reports and statistics.  These reports are a very handy tool for buyers and sellers of Long Beach homes, condos and income properties.  The information on these reports often comes directly from the MLS and is provided free to our readers. 

These market reports require more analysis than just copying numbers from the MLS.  Today I thought I would provide you with an overall Long Beach Real Estate Market report but instead decided to entertain you with the type of MLS faux pas (blunders) that not only get in the way of providing clear and accurate information, but also keep your homes, condos and income properties from actually being shown and selling.

My choices for todays entertainment:

A rare 4 bedroom 2 bath Long Beach condo; 1100 sq ft with no garage; listed for a very desirable $289,000; HOA $1 per month; 173 days on market. (all information is as represented in the MLS)

 

Agent Remarks (direct from the MLS):  Great comdominio 4bedrooms 2baths Two levels New water pipes. This is a Regular sale owner in process of buying another property Ass is very low Just $ 13500 a month

 

 

Makes you want to just jump up and race to see it huh?

 

Hey if you cant spell condominium how are you going to sell it?

 

Is it any wonder that this condo has been on the market for 173 days?  After indicating an HOA of just $1.00 the agent remarks state Ass is very low Just $13500 a month.   Well I have seen a few low ass's myself, but this condo ain't gettin shown with that kind of liability!  There is no description of the property and of course - only 2 pictures of a strip of garages and parking spaces - you did note that the MLS description states "no garage".  173 days on market and this agent hasn't had time to actually describe the condo on the MLS and take and post a few decent pictures of the actual condo?  It is common knowledge that pictures sell homes! 

 

Agents representing Long Beach buyers will likely pass on this one just to save themselves and their buyers from having to deal with this level of dumb!  NEXT...

 

 

 

Our next contender is a listing in the same Long Beach condo/townhouse complex as above:

 

Another rare 4 bedroom, 2 bath, 1102 sq ft condo; listing price $350,000; HOA for this unit is a mere $45 (guess the other unit must be carrying the heavy financial load), with 1 garage.  This condo/townhouse has been on the market for a short 5 days and yep, NO pictures at all! (all information is as represented in the MLS)

 

Agent Remarks (direct from the MLS): property needs TLC. Two storey condominium unit with one bedroom downstairs and 1/2 bathroom. Needs new carpet and paint. close to schools, church and easy freeway access.

 

This Long Beach condo is being sold as a short sale.  Lets think about this for a minute.  The other condo in this complex is listed at $289,000 for what appears to be a conventional sale, it has been on the market for 173 days and has not sold.  Does anybody else agree that it was a stroke of genius to price this one (needing TLC) $61,000 higher at $350,000 - as a short sale - in todays real estate market? 

 

Another Long Beach condo that isn't going to be shown or sold!  NEXT...

 

 

 

Next choice for todays entertainment:

An unheard of 16 bedroom, 2 bath, 824 square foot Long Beach condo, on the Eastside, in the Circle Area; HOA $216 per month.  Are you laughing yet?  Allowing a mere 300 sq ft for the kitchen and 2 baths that would make each of the bedrooms ........ ..what?........standing room only for 1?  Maybe that would work for vampire storage but it doesn't work for humans. Yep, you guessed it another listing with no description of the condo and once again, NO pictures.  (all information is as represented in the MLS)

 

 

 

 

Agent Remarks (direct from the MLS): Beautiful 2 Bed / 2 Ba. Brand new construction. your clients will love it.

 

 

Ahhhhhhh, so it is a 2 bedroom!

 

When an agent is searching the MLS on behalf of a buyer we enter search parameters in order to narrow down the search to that which our buyer is interested in.  This is another Long Beach condo that just isn't going to be shown, because it's not going to be found. 

 

Did you notice the agent remarks above?  Brand new construction - your clients will love it - no description - no pictures!  Heck of a job representing your seller!  Nobody is coming to see it, they cant find it and if they do, you don't have any pictures!  NEXT...

 

 

 

Attention Sellers:

 

Are you thinking about selling your Long Beach Home, Condo or Income Property?  Make certain that you get a copy of the MLS and see how your property is being presented to the agents bringing buyers to the table.  The MLS pushes this information out to many internet sites where buyers will see it and decide if your property is one they would like to view. If your Long Beach properties are not being shown they are not going to sell. 

 

When you interview agents, get a clear view of how your property is going to be marketed and make a wise decision.  In todays real estate market your property needs to be on the internet in front of Long Beach buyers eyes and needs to be presented in a desirable and professional manner.  

 

Keep in mind that the longer you sit on the market the less you are going to make on your home.  If you make a bad choice when you choose your 1st agent, it is going to be a long time before your contract runs out and you can replace them with the right Realtor. There are some sellers in Long Beach who are currently being represented by their 3rd agent.  

 

 

 

Why Hire an Internet Savvy Long Beach 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 Long Beach 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.

 

http://www.longbeachrealestatehome.com/004205

Downtown Long Beach Real Estate Sales-Market Report

 

Homes, Condos, Coops, OYOs, Income Properties

 

Updated 8/11/08

 

 

 

Downtown Long Beach Homes

There 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 OYOs

There 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 Lofts

There 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 Properties

There 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

Bluff Park Historic District Home - Just Sold

Long Beach Real Estate

 

Today on 8/8/08 Bluff Park Historic District Home located at 2609 East 2nd St Closed Escrow.   8/8/08 is considered by the Chinese to be a very lucky day. The number 8 is coveted for addresses, phone numbers and bank accounts. A single 8 on a piece of property lends a sense of high status among the Chinese, as they know top dollars were paid just to obtain that number.   Lucky 8 is so lucky, that the Beijing Olympics are due to open today on 8/8/08 at exactly 8:08:08 PM.

 

 

Just Sold

 

 

Bluff Park Historic District Closed Sale 8/8/08

2609 East 2nd Street Long Beach, CA 90803 2 Short Blocks to the Beach Craftsman Home 2 Story 2 Bedroom 2 Bath 1,848 Square Feet 4,785 Sq Ft Lot 2 Car Garage + Driveway Beautifully Landscaped Great Floorplan Formal Entry Hardwood Floors Plantation Shutters French Doors to Rear Deck Private Back Yard Formal Dining Room Office (3rd Bdrm?) Den (4th Bdrm?) Front Porch Large Wood Burning Fireplace High Coved Ceilings with Detail Basement Lots of Storage

Buyer Represented by Laurie Manny (562) 212-5420

Offered at: $679,000 Sold at: $682,000

 

 

Bluff Park Historic District Neighborhood Market Report 2008 Home, Condo and Income Property Sales

 

 

Tale of the Sale

My buyers were relocating to Long Beach from out of town, in for the weekend they were hoping to find the home of their dreams immediately. They wanted a beach house or a home as close to the beach as possible, loved the California bungalow style and the Craftman homes. We spent the weekend looking at many Long Beach homes. There were 2 they fell into deep like with.

We spent over an hour in a very nice Alamitos Beach California bungalow while I listened to the buyers discussing moving walls, changing a room into a closet, rearranging the yard space and more. I looked at them and said, "Lets keep looking, this is not the right home for you". They were still interested in the home so many calls went back and forth with the agent. The comparable sales just didn't justify the price. I called in a favor from an appraiser friend of mine, the home was overpriced by about $100,000, the seller was not going to be able to wrap themselves around that, it would send them into a short sale. Next...

Another home also located in Alamitos Beach, was represented by beautiful pictures of the interior, we were hopeful. As I pulled up to the home the buyers cracked up laughing and said forget it, we don't even want to go in, lets just go to the next home on the list. Somebody had changed the front on this California bungalow, it looked like a mobile home with a very strange fence and front yard. It was really bad! Next...

The next day we visited another California bungalow, in the Belmont Heights historic district, which was a great looking home, but just didn't fit right. It didn't help that the listing agent no showed for the appointment and finally sent his assistant to show the home 45 minutes late. The bedrooms were too small, the buyers were deciding which wall would have to go to expand a bedroom. While the house had hardwood floors throughout, every room had different flooring, it was odd and needed to be replaced to be cohesive, the kitchen needed to be replaced and it was also just too overpriced. Ready to write an offer on the house I again advised them to wait, the perfect home would come along. Next...

Tuesday my clients were going home (out of state), dejected at not having found a house, as the perfect home entered the market. A large 2 story Craftsman on 2nd Street, in the Bluff Park Historic District, just 2 short blocks from the beach, it was beautiful, it was everything they wanted - and more, and it was priced to sell - immediately. I knew this home would have multiple offers on it by the next day. There were many pictures of the house which really showed the character and details of this majestic and beautiful home, kudos to the listing agent for that! I just knew this was the right home.

I called the listing agent and wrote the offer that night, site unseen, faxed it to the buyers who signed and returned it to me immediately. They had seen the pictures and were in love. The offer was emailed to the agent in the middle of the night, the first day on the market. The buyer flew back the next day to view the home and fell in love with it. By the end of the day the agent had several offers and my clients were starting to sweat.

 

We wrote a strong offer, the financing wasn't exactly the strongest, but it was solid and it was real, we had a lock in letter and a loan commitment to stregnthen the offer. The agent indicated they were nervous about the loan. The lender called and assured the agent and seller that this loan was secure; he left such an impression on the listing agent that they went ahead and accepted our offer. The offer was accepted because it came in first, the financing was secure and my reputation was known to the listing agent. Geez, now that felt good.

Today I had the pleasure of turning the keys over to my buyers. This is one of the best parts of what I do. Looking at these smiling faces and knowing that they really did find their dream home. You see, my buyers knew what they wanted in a house, but this home, in this neighborhood exceeded even their expections.

 

I take my hat off to the listing agent Jennifer Davis and her transaction coordinator Leon Freeman. Thank you for a wonderful transaction. It is really great to work with true professionals.

 

Thank you to Michelle Rios, my transaction coordinator who kept this organized on my end.

 

Thank you to Brian Brady, loan officer, for once again stirring the magic cauldron and pulling the proverbial rabbit out of the hat.

 

It takes a team to close a deal. This deal had a top notch team! Thank you all for a job well done. The buyers are tickled pink today!

 

Call Laurie to find YOUR dream home today

 

http://www.longbeachrealestatehome.com/004029