Long Beach Real Estate Blog

The Long Beach City Council is considering a Parcel Tax that would charge each parcel owner and Long Beach home owner an extra $120 per year.

Investors, Income Property Owners and Renters: Listen Up

If you are an investor of income property, the number, you are assessed $120 per unit.  Yikes!!!  All of the residents of Long Beach should run not walk to to the City Council meeting on Tuesday, July 22nd at 5:00 pm to voice their opposition against this purposed Novemeber 2008 ballot measure.  If you are renting a property, vote against this measure.  No one wants to see their monthly rent go up either…

Who wants to pay more taxes? No one I know.  Share this information with everyone you know in the city of Long Beach.  Mark your calendars for  this Tuesday, July 22nd at 5:00 p.m. at City Hall.

City of Long Beach (Map)
333 W. Ocean Blvd,  Long Beach, CA 90802

Tel: (562) 570-6555

Hearing Item # 2 on the Agenda for the Long Beach City Hall on July 22nd, 2008.

The Long Beach real estate market, city wide, for single family homes saw a slight dip in number of sales in June:

• May 2008, there were 164 sales

• June 2008, there were 160 sales

For June, average listing price for a Long Beach home was $576,732 and the average sold price was $523,646, a difference of $53,267 less then the asking price.  So homes are being purchased for 90.16% less. They spent about 72 days on the market in June before they received an acceptable offer. 

Even though there were four more sales in May, the average time on market in that month was 78 days.  So, June was a little hotter for home sellers in terms of days on market.

The good news for home buyers is that there are some great buys in Long Beach if you know where to look.  One of my clients just bought a home sold by a corporate relocation company, that was listed for sale by another real estate company.  This was not a short sale or bank foreclosure/bank repo.  The owner was transferred by his company to another location.  His relocation company purchased the property from him. 

Then, they priced the home a over 20% percent lower than the comparable sales in the area and it generated four multiple offers.  My clients ended up paying full price because there were three other offers on the home…they still bought it for over 20% less then market value.  That was an awesome buy for them. But don’t get the idea that you are going to get your next home for a deep discount of 20% or more.

Most home pricing is already lowered by eager home sellers to generate offers.  Before making an offer, make sure that your Realtor® (hopefully on the Red Wagon Team), provides you with the most recent comparable sales just like an appraiser would for the bank.  If you are relaying on zillow.com for an estimate, just a word of warning, that zestimate may be not as accurate as what a skilled real estate professional can provide you.

How Many Long Beach Homes are for Sale?

• Active Listings 1,022 homes for sale in Long Beach with an average price of $596,280. 

Now, there are some homes priced for $100,000 to as high as $8,400,000.  The closer your home is the ocean the high the price you may have to pay. 

Here is something very interesting, of the 1,022 homes, they have been on the market an average of 102 days.  That’s 30 days longer than the average days on market for sales in the month of June.   If we divide the number of sales by the number of homes on the market, there are 6.3875 months of inventory.  That means that it would takes over 6 months to sell all of the available homes for sale.

There are 342 properties in escrow with accepted offers.

View Long Beach homes for sale on our new, easy to use search by map program, for your next purchase.

Note: The numbers of active, pending and sold listings were researched and complied from the Southern California multiple listing service (SoCalmls) and are deemed reliable but not guaranteed. These properties include new, resales, bank repos and short sale properties.

Downey Single Family For Sale 839,000 USD

3 Bedrooms / 3 Bathan
2314 sq square feet

9159 Dinsdale
Downey, CA

I will be having a special type of open house this weekend called a Home Tour.  The first location will be in Orange County on one of our new listings at 10282 Dale Avenue in the city of Stanton.  It is a 3 bedroom home listed for $369,000.  I will be there from 11 am to 2:30 pm on Saturday, July 19th, 2008.  To view more information about this home I suggest http://www.redwagonteam.com/10282_Dale_Avenue.htm

On Sunday, July 20th, 2008, I will be at 9159 Dinsdale Street in Downey from 1:00 pm to 4:39 pm for another Home Tour.

See you there today…

As of today, July 15th, 2008, there are 210 homes for sale in Long Beach in the zip code of 90803.  This zip code encompasses the following neighborhoods like: Belmont Shores, Belmont Park and Naples.  The price ranges are from $569,000 for two bedroom, one bath home to a home on Ocean Blvd for $5,500,000 with four bedrooms and five and over 4,900 square feet. The homes that are listed for sale have been on the market for an average of 104 days.

On the flip side, in the same zip code,

•   19 properties in escrow that are accepting backup offers with an average of 86 days on market before they got an accepted offer

•  9 properties in escrow that are considered in a pending status…with average of 76 days on market before they got an accepted offer

So what is the difference between Accepting Backup Offers and Pending?  Sometimes the seller wants a backup offer in case the current buyer decides to change their mind…plan B just in case or if the buyer looks really strong with a large downpayment, then the status can be changed to Pending.

Year to Date Long Beach Real Estate Sales in 2008 for Zip Code 90803

• 68 homes have sold this year for 11.06% less than the asking price
• average sales price is $1,092,687
• average days on market are 91

If you are seriously considering placing your home on the market and you are in this zip code, make sure to price your home in such as way as to generate offers from buyers.  That’s right, don’t over price your home thinking that you need negotiating room.  Buyers will compare your home to others on the market and make offers accordingly.   While it is a”buyer’s market”, I am not telling you to give your home away but to price it in such away that it makes it attractive to local real estate professionals to show to their clients before they show someone else’s home first.  Be realistic.  It may take a little bit of time to receive an offer.

Top Long Beach real estate professionals know that over 80% of all buyers are using the internet first to shop for a home.  So, the agents that are marketing to clients online are the ones that you should be considering to hire to market your home….like The Red Wagon Team that ranks in the top of Google for such key phrases as Long Beach real estate, Long Beach Ca real estate and homes for sale in Long Beach, CA.

Cypress, California home offers spacious 3 bedroom home has over 1,500 square feet, a large backyard and a guest/mother-in-law quarters. Entertain your friends and family by the fireplace in the living room. The home features a dinning area and family room off the kitchen. The master bedroom has it’s own private bathroom.  View more photos and details at http://www.redwagonteam.com/6182_Orange_Avenue.htm

This three bedroom home could be one of the Best Buys for real estate in Santa Ana. It has over 1150 square feet with a spacious living room and dinning area perfect for entertaining your friends and family. Enjoy your contemporary style kitchen with title counter tops and lots of cabinets. Relax on those hot summer days with air conditioning and ceiling fans throughout the home. There is a laundry room off the kitchen. The home has a large park like backyard for summertime fun. Great starter home for anyone… Listed for Sale by Stella Frize, California Realtor and Co-Founder of The Red Wagon Team at Main Street Realtors. Visit her for more details: http://www.redwagonteam.com/2105_N_Grand_Avenue.htm