Long Beach Real Estate-Long Beach Condos

 LONG BEACH REAL ESTATE

Are you waiting for the bottom of the market?

A couple of years ago, while we were in the throe's of a sizzling sellers market, many would be Long Beach sellers decided to hold out for the TOP of the real estate market.  Yep, you guessed it, many of them are still waiting for it.  Today Long Beach buyers are decrying the same mantra, holding out for the bottom of the market. 

How are you going to know what the bottom of the market is? 

How are you going to handle the multiple offers on the most desirable properties when all of the buyers jump onto the Long Beach Real Estate market at the same time? 

The Investors are coming.

Investors are sitting on the sidelines watching the market, prices are already at a 15 year low.  When the real estate market in Long Beach hits a certain point, and it is coming soon-no matter what the media says, the investors are going to jump in and start gobbling up all of the better Long Beach homes, townhomes and condos.  I know, I represent a few of them, we've done this successfully before and are very good at it.  These saavy investors will hit the market with cold hard cash, waive inspections, waive appraisals, out bid you and they will beat you to ALL of the deals and better properties. 

Do you think that you will be able to compete with them? 

So Mr. & Mrs. Buyer, how are you going to purchase one of the more desirable properties up against this kind of competition?  Sometimes I think that it's more about the game than it is about purchasing properties for many Long Beach buyers.  The media sure isn't helping, but then they are not Real Estate Professionals and are NOT dialed in to the local real estate markets. 

International real estate investors are decending on American markets.  The real estate market here is very attractive to them right now.  They GET IT!  They are Coming To America to Buy Homes. 

Housing is a good and sound, long term investment. 

As a result of the most comprehensive research ever performed by NAR (the National Association of Realtors®) they state:

Forty-seven percent of all international buyers purchased homes exclusively for vacation, while 22 percent were motivated primarily by investment. Nearly a third of foreign buyers cited both vacation and investment as reasons for their purchase. International homeowners spent an average of 4.2 months of the year in their U.S. property in 2006.

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A third of all international buyers are from Europe, but buyers from Asia and North America (outside the United States) each represent about one-fourth of the total market. Sixteen percent of all international buyers are from Latin America. By individual country, most buyers come from Mexico (13 percent), the United Kingdom (12 percent) and Canada (11 percent).

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Foreign buyers purchase homes across the United States, but 52 percent of sales in 2006 were concentrated in three states Florida (26 percent), California (16 percent) and Texas (10 percent). The South attracted nearly half 49 percent of international buyers last year, while 31 percent purchased homes in the West.

Available Long Beach Homes, under $400,000 today:

• 18 - one bedroom single family homes.
• 140 - two bedroom single family homes.
• 57 - three bedroom single family homes.
• 5 - four bedroom single family homes. 
• 1 - five bedroom single family home. 

A year ago if a Long Beach buyer approached me looking for a single family Long Beach home under $500,000 they were pretty much out of luck.  Once in a while one would come onto the real estate market, but would often be in deplorable condition, not all buyers are a good match for a property such as this.  After deferred maintenance they really weren't such a great buy most often.  Today there are 261 single family, Long Beach homes available under $400,000.  Don't you think it is time to purchase the Long Beach home, condo or townhouse you have been waiting for?  Or are you going to utilize bad judgement and be the next casualty of the Long Beach real estate market?

Laurie Manny Long Beach Realtor® (562) 212-5420 244 Redondo Avenue Belmont Heights Long Beach, California 90803 Buyers/Sellers/Investors Homes Condos Income Properties 1031 Exchanges