Belmont Shore is a neighborhood in Long Beach, California close to the beach and bay areas.  It is popular for it’s dinning and many cool shops along 2nd Street in Long Beach.  

Let’s look at the Belmont Shore Housing Market for 2011

Here is the break down of Long Beach home sales market trends:

• 46 single family homes that closed escrow
• Price range was from $465,000 to $2,200,000
• Average days on market before an accepted offer was 89 days
• Homes sold for 95% of the listed price
• Average selling price was $757,116 at $486.51 per square foot of living space

View all of the Belmont Shore homes for sale that are updated hourly.

Belmont Shore Condos Sales

Yes there are condos in the Belmont Shore area.  

• 4 condos closed escrow
• Price range was from $215,000 to $688,450
• Average days on market before an accepted offer was 69
• Belmont Shore condos sold for 96% of the listed price
• Average selling price was $366,362 at $417.74 per square foot

Belmont Shore condos are located at these three addresses:

• 201 Bay Shore – faces the bay
• 383 Bay Shore – faces the bay and Long Beach Marine Stadium
• 3939 Allin Street (on the sand near the Belmont Pier)

Citywide Statistics for Real Estate in Long Beach California

View Long Beach condos for sale in the downtown area of Long Beach, California

• Popular condo buildings include: Aqua Buildings, International Tower, The Pacific, The Meridian, 525 Seaside Way, and The Ocean Club,

Belmont Shore real estate for sale

Belmont Heights real estate for sale

Bixby Hill homes for sale

Downtown Long Beach real estate including condos and houses

90803 Real Estate

90814 Real Estate

The Dow Jones Stock Exchnage is based on a weighted average value of the top 30 companies publicly traded on the stock market.  Investors in the stock market reacted to the news that our elected officials did not pass the $700 Billion Dollar bailout that would have eased the skid of the real estate industry.

Most home buyers of Long Beach homes and Southern California homes need to focus on the future verse getting worried about this temporary event on the stock market and our economy.  If you are committed to purchasing or selling a home, you need to stay focused on your plan.  Whether the stock market goes up or down, life goes on.

Back in the 1990′s, we had a recession.  Prices on housing fell…while the stock market took went up.  Then, after the recession was over, housing prices rose again.

My suggestion is to have your focus on this “expect great things to happen in your life today.”  Always look for something good to happen each day.  What can you learn, see and do today that you never knew about?

What If You Price Your Home and the Appraisal Comes in Lower?

Imagine having your Long Beach home on the market for $700,000 in the best condition possible. You are patiently waiting for an offer…a few buyers come and go…then you get an offer for $650,000. You are a little disappointed so you counter the buyer back and settle at $680,000… Inside you are probably doing a little dance of joy and if asked could do cartwheels on the front lawn.

The Bank Appraiser Cometh

Then, the buyer’s bank sends out an appraisal and the home An evaluation is going to take into consideration the subject property’s square footage….usually 100 square feet less and 100 square feet more in the same type of neighborhood.

So, you property has 2,000 square feet. That means that the square footage range would be between 1900 to 2100. The appraisal will then search all of the most recent sales within the last six months in your neighborhood and similar areas. Their goal is to find three of the most comparable SOLD properties.

The appraiser informs the bank that based on the most recentcomparables is valued at $650,000.

What do you do now?

Well, you have a couple of options:

• Get stressed out

• Order your own appraisal

• Get a copy of the appraisal and ask the appraiser about the comparable properties that he used

• Lower the price to the appraised value

• Decide to lease the home out instead

• Stay in the home

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So what is going to happen with the election in November 2008?  No, not who is going to win.  But how will who wins effect the housing prices?  Will they go up or down?  Since interests rates are low, will that create more buyers to jump off the fence and into buying a Long Beach home or condo?  What do you think will be the effect of the US Election of 2008?

As of today, there are 558 Single Family Homes for Sale in Long Beach, California. The average price for a 3 bedroom, 2 bathroom homes with 1500 square feet is $659,000 and they have been on the market for an average of 33 days. To search for Long Beach homes for sale, click here

There are 282 condos for sale in Long Beach. The lowest priced studio condo is $176,000 and the highest priced condos is $2,350,000 with a Penthouse ocean view….

View homes in Long Beach real estate market

The minimum household income needed to purchase a median-priced home at $509,230 in California in April was $120,290, based on an average effective mortgage interest rate of 5.92 percent and assuming a 20 percent downpayment.