Housing Prices

Long Beach Real Estate Statistics

August 20, 2009 by Jay Valento · Leave a Comment 

Citywide Statistics for Real Estate in Long Beach California

Real Estate Market Chart by Altos Research www.altosresearch.com

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

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

Dow Jones Stock Exchanges Plunges Over 700 Points

September 29, 2008 by Jay Valento · 1 Comment 

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?

Belmont Shores Real Estate Market Report: Single Family Homes

August 12, 2008 by Jay Valento · Leave a Comment 

Belmont Shores Real Estate Real Estate Report 2008

Long Beach, California is made up of over 35 different neighborhoods.  Today’s market update is on the famous Belmont Shores.  The area is located just south of 2nd Street and bordered by Bay Shore, Livingston and Ocean Blvd.

  • Here are all of the real estate listings in Long Beach that are currently for sale in Belmont Shores this neighborhood:

Belmont Shores homes for sale map

Active Listings for Sale

Status Address Price Bed Bath Sqft $/Sqft Built MLS# Date DOM
Active 162 La Verne Avenue $725,000 2 1 984 $736.79 1926 P649195 27-Jul-08 13
Active 150 La Verne Avenue $839,000 3 2 1,434 $585.08 1926 P650939 8-Aug-08 2
Active 164 Pomona Avenue $929,000 3 2 1,450 $640.69 1926 P648027 22-Jul-08 20
Active 166 Corona Avenue $980,000 3 3 2,200 $445.45 1949 Y804637 1-Jul-08 40
Active 25 Belmont Avenue $995,000 4 3 2,100 $473.81 2008 P646642 12-Jul-08 30
Active 155 Nieto Avenue $995,000 3 3 2,200 $452.27 1926 P645344 3-Jul-08 39
Active 69 La Verne Avenue $1,075,000 3 2 1,923 $559.02 1930 P640470 4-Jun-08 68
Active 162 Prospect Avenue $1,295,000 4 3 2,153 $601.49 1924 R801999 18-Feb-08 170
Active 108 Saint Joseph Avenue $1,399,000 3 3 2,542 $550.35 1928 P650393 5-Aug-08 6
Active 169 Argonne Avenue $1,550,000 3 3 2,743 $565.07 2003 P622012 11-Feb-08 182
Active 109 Park Avenue $2,785,000 4 4 3,900 $714.10 1925 P594673 23-Jul-07 363
Active 5121 Ocean Boulevard $5,500,000 4 5 4,912 $1119.71 2008 P628379 20-Mar-08 144
Average $1,588,917 3.3 2.83 2,378 $620 1948 90

  • DOM – days on market
  • $/SqFt – Price per square foot


Back Up Offers:  these two properties are in escrow and are taking backup offers in case the current offer falls out of escrow.

Status Address Price Bed Bath Sqft $/Sqft Built MLS# Date DOM
Backup Offer 163 Roycroft Avenue $939,900 4 2 2,200 $427.23 1928 S539589 10-Jul-08 20
Backup Offer 181 La Verne Avenue $1,500,000 4 4 2,300 $652.17 2007 Y802909 18-Apr-08 36
Average $1,219,950 4.0 3.00 2,250 $540 1968 28



Pending:  the owner and their agent feel confident that the accepted offer will go through.

Status Address Price Bed Bath Sqft $/Sqft Built MLS# Date DOM
Pending 79 Argonne $569,900 2 1 760 $749.87 1950 P646441 11-Jul-08 5
Pending 20 Corona Ave $1,025,000 3 3 1,929 $531.36 1928 L26141 20-Apr-08 85
Average $797,450 2.5 2.00 1,345 $640 1939



Sold Properties in Belmont Shores Homes up to August 11th, 2008:

Status Address Price Bed Bath Sqft $/Sqft Built MLS# Date DOM
Sold 77 Prospect Avenue $625,000 2 1 900 $694.44 1924 S531300 29-Jul-08 51
Sold 172 Park Avenue $635,000 2 2 1,298 $489.21 1941 P635223 3-Jul-08 19
Sold 180 Santa Ana Avenue $679,000 2 1 1,304 $520.71 1930 P614803 13-Mar-08 47
Sold 82 Saint Joseph Avenue $680,000 2 1 1,022 $665.36 1931 P616016 29-May-08 70
Sold 178 Corona Avenue $680,000 2 1 828 $821.26 1924 P599196 18-Apr-08 182
Sold 142 Corona Avenue $699,000 2 1 1,103 $633.73 1928 P640010 11-Jul-08 10
Sold 158 Claremont Avenue $707,000 2 2 1,194 $592.13 1925 P597984 1-Aug-08 139
Sold 134 Corona Avenue $725,000 2 1 1,139 $636.52 1927 P640703 29-Jul-08 20
Sold 169 Glendora Avenue $749,900 2 1 862 $869.95 1924 P599233 18-Jan-08 99
Sold 178 Claremont Avenue $805,000 2 1 1,071 $751.63 1928 P613980 31-Mar-08 84
Sold 57 Saint Joseph Avenue $845,000 3 2 1,389 $608.35 1927 S524958 24-May-08 41
Sold 104 Quincy Avenue $894,999 3 4 2,000 $447.50 1928 P625662 19-Jun-08 49
Sold 141 Covina Avenue $1,065,000 3 3 1,996 $533.57 1940 S525114 5-Jun-08 82
Sold 106 Granada Avenue $1,080,000 3 3 2,266 $476.61 2004 P611224 2-Apr-08 100
Sold 109 Covina Avenue $1,135,000 3 2 1,848 $614.18 1924 P625291 20-May-08 48
Sold 5125 Ocean Boulevard $1,150,000 5 5 2,810 $409.25 1927 P629446 14-May-08 7
Sold 156 Granada Avenue $1,280,000 4 3 2,938 $435.67 1930 P625373 24-Jun-08 98
Sold 151 Argonne Avenue $1,350,000 3 3 2,385 $566.04 1928 P618322 19-Mar-08 15
Average $876,939 2.6 2.06 1,575 $598 1933 65


Source: Southern California multiple listing service.  All of the above information is deemed reliable but not guaranteed.  © 2008, The Red Wagon Team, all rights reserved on the research we have done above.


Discover the value of your Long Beach home or condo, visit Long Beach home values.  Our exclusive True Market Value Report is designed to give you a more accurate evaluation of your home, condo or luxury property’s value in today’s real estate market place.





Long Beach Home Pricing and the Appraiser

July 27, 2008 by Jay Valento · Leave a Comment 

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

___________________________________

2008: The Election and Long Beach Housing Prices

March 7, 2008 by Jay Valento · Leave a Comment 

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?

Market Update for Long Beach Real Estate

October 6, 2005 by Jay Valento · Leave a Comment 

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

Household Income to Purchase a Home

June 4, 2005 by Jay Valento · Leave a Comment 

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.