Belmont Shore Real Estate Market Report

Including Belmont Park, Naples Island, Marina Pacifica

Homes, Condos and Income Properties

Long Beach California

Last Updated 10/8/2008

Belmont Shore boundaries: North - Broadway East - Bay Shore South - The Ocean West - Livingston Drive

Belmont Park boundaries: North - Monrovia Avenue East - Marine Stadium South - Broadway West - Bay Shore

Naples Isand boundaries: North - Belmont Park East - Marina Pacifica South - The Peninsula West - Belmont Shore

About Belmont Shore and Naples Island California

Long Beach Homes For Sale in Belmont Shore, Belmont Park and on Naples Island

 

There are currently 74 Long Beach homes for sale in Belmont Shore, Naples Island and Belmont Park.

• 3 homes are for sale between $500,000 and $600,000 (All in Island Village)
  
• 1 home is for sale between $600,000 and $700,000
• 10 homes are for sale between $700,000 and $800,000
• 11 homes are for sale between $800,000 and $900,000
• 9 homes are for sale between $900,000 and $1,000,000
• 17 homes are for sale between $1,000,000 and $1,500,000
• 8 homes are for sale between $1,500,000 and $2,000,000
• 7 homes are for sale between $2,000,000 and $3,000,000
• 5 homes are for sale between $3,000,000 and $4,000,000
• 3 homes are for sale between $4,000,000 and $5,000,000
  

 

• Average Price: $1,498,262 down from last months:  $1,564,786
• Average Days on Market: 134

 

FHA loans are available to a maximum loan of $729,750 with a minimum 3.5% down payment (up from 3% as of 10/1/08) until January 1, 2009 when they are currently scheduled to drop the maximum loan amount to $625,000, this could change. 

FHA Lending Limits for LOS ANGELES COUNTY (LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN AREAS): 

• Single Family Home or Condo: $729,750
• Duplex:  $934,200
• Tri-plex:  $1,129,250
• Four-Plex:  $1,403,400

Jumbo Loans are currently requiring approximately 30% down payment and start at $729,000, also currently scheduled to drop concurrently on 1/1/09 to $625,000 unless something changes between now and then. 

 

There are currently 12 homes pending (in escrow) in Belmont Shore, Belmont Park and on Naples Island.

 

• 12 Homes are accepting Back-Up offers
  
• 13 Homes are pending

 

Back-Up Offers:

• Average Price: $1,171,650 down from last months $1,286,983
• Average Days on Market: 104 up from last months 84

Pending Offers:

• Average Price:$1,459,061 up from last months $1,311,130
• Average Days on Market: 98 up from last months 81

 

 

69 homes closed escrow (SOLD) in Belmont Shore, Belmont Park and on Naples Island in 2008; up from 46 closings on 8/22/08, that is a nice healthy jump!

 

• Lowest Price Home Sold: $625,000
• Highest Price Home Sold: $4,450,000

• Average Price: $1,216,423 up from last months  $1,171,889
• Average Days on Market: 92 up from last months 66

 

59 Homeowners Cancelled their Listings

• Average Price: $1,367,521

• Average Days on Market: 152

1 Homeowner Withdrew their home from the market

• Average Price $1,299,000

• Average Days on Market: 140

42 Listings Expired

• Average Price: $1,325,699

• Average Days on Market: 155

 

1 Listing has been placed on Hold

• Price:  $939,900
• Days on Market:  20

6 Homes removed from their listings from the market and Leased

• Average Lease Price:  $3,966
• Average Days on Market:  113
  

 

Search homes for sale in Belmont Shore,Naples Island and Belmont Park

 

• Belmont Shore-Naples Island-Belmont Park Homes for sale under $1000000
• Belmont Shore-Naples Island-Belmont Park Homes For Sale $1000000 to $2000000
• Belmont Shore-Naples Island-Belmont Park Homes For Sale $2000000 and up
• Bay Harbour Homes For Sale

 

 

 

Long Beach Condos For Sale in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica

 

There are currently 23 Long Beach Condos for sale in Belmont Shore, Naples Island, Belmont Park and Marina Pacifica

• 3 for sale between $200,000 and $300,000
• 3 for sale between $300,000 and $400,000
• 1 for sale between $400,000 and $500,000
• 5 for sale between $500,000 and $600,000
• 2 for sale between $600,000 and $700,000
  
• 1 for sale between $1,000,000 and $1,500,000
  
• 1 for sale at $3,799,000

• Average Price: $815,563* up dramatically from last months $531,386
• Average Days on Market: 106 down just a bit from last months 109

*Please note that the dramatic increase in average listing price does NOT reflect an upturn in the local real estate market. It does reflect higher end properties coming available (which did occur here) or incorrect pricing. 

 

There are currently 9 condos in escrow in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica.

 

• 4 condos are accepting Back-Up offers.
• 5 condos are pending

 

Back-Up Offers:

• Average Price: $474,725 down from last months $541,628
• Average Days on Market: 55 down dramatically from last months 113
  

Pending Offers:

• Average Price:  $340,659 down from last months $407,450
• Average Days on Market: 199 up dramatically from last months 28
  

 

 

39 condos have closed escrow (SOLD) in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica in 2008, up from last months 31

 

• Lowest Price Condo Sold: $225,000
• Highest Price Condo Sold: $780,000

• Average Price: $518,815 not far off from last months $513,912
• Average Days on Market: 83 about the same as last months 85
  

 

19 Condo owners Cancelled their Listings

• Average Price: $528,431

• Average Days on Market: 123
  

 

 

26 Listings Expired

• Average Price: $614,600

• Average Days on Market: 192
  

 

2 Condo owners Leased:

• Average Lease Price:  $2,225
• Average Days on Market:  176
  

 

 

 

Search Condos for sale in Belmont Shore, Belmont Park, Naples Island and Marina Pacifica

• Belmont Shore-Naples Island-Belmont Park Condos For Sale
• Marina Pacifica Condos for Sale Long Beach CA
• Bay Harbour Homes For Sale Long Beach California

 

 

 

 

 

 

Long Beach Income Properties For Sale in Belmont Shore, Belmont Park and Naples Island

 

There are currently 19 Long Beach Income Properties for sale in Belmont Shore, Naples Island and Belmont Park, down from 21 last month. 

 

• 9 are duplexes
• 6 are triplexes
• 1 is a four-plex
  
• 1 has 9 units
• 1 has 10 units
• 1 has 23 units

 

• Lowest Price: $789,900
• Highest Price: $6,950,000
  

• Average Price: 1,716,568 down substatially from last months $1,946,614
• Average Days on Market: 119 down from last months 138
  

 

 

There are currently 3 income properties in escrow in Belmont Shore, Belmont Park and Naples Island.

 

• 1 income property is accepting Back-Up offers.
• 3 income properties are pending.

 

Back-Up Offers:

• Price: $1,495,000
• Days on Market: 78
  

Pending Offers:

• Average Price:  $1,389,666 down dramatically from last months $1,699,000
• Average Days on Market: 157 up from last months 142
  

 

 

13 income properties have closed escrow (SOLD) in Belmont Shore, Belmont Park and Naples Island in 2008, up from last months 12. 

 

• Lowest Price income property Sold: $799,000
• Highest Price income property Sold: $3,500,000

• Average Price: $1,662,115 down from last months $1,734,041
• Average Days on Market: 129 down from last months 135
  

 

7 income property owners Cancelled their Listings

• Average Price: $1,316,685

• Average Days on Market: 292
  

  2 income property owners Withdrew their properties from the market

• Average Price $837.250

• Average Days on Market: 76
  

18 Listings Expired

• Average Price: $1,456,883

• Average Days on Market: 218
  

 

Search Income Properties for sale in Belmont Shore, Belmont Park and Naples Island

• Belmont Shore-Naples Island-Belmont Park Income Properties For Sale

 

 

 

*All statistics are as represented by the MLS and are not to be interpreted as the representations of the author.

http://www.longbeachrealestatehome.com/0041D6

Owners of Long Beach Homes and Long Beach Condos who are occupying their homes are finally being offered an option to save themselves from Short Sale and Foreclosure through Bank of Americas new relief program for Countrywide customers.  Restrictions do apply so be sure to read all of the details in the related links. 

 

Countrywide customers finally get some relief through the Bank of America Nationwide Homeownership Retention Program. 

 

Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for nearly 400,000 Countrywide Financial Corporation customers nationwide.

 

• Read the press release to learn more about this announcement.
• Learn more about the Homeownership Retention Program with this Fact Sheet Overview.
• Additional information for customers who may need additional Financial Hardship Assistance.

 

Beginning December 1, 2008, Countrywide will proactively contact subprime and Pay Option ARM borrowers whose loans are scheduled for an interest rate change.

Read more »

http://www.longbeachrealestatehome.com/0044EE

Long Beach Real Estate Sales-Market Update: October 5, 2008

Through September 30 2008

The Long Beach real estate market closes sales for the month of September with the average purchase price down 16% from year end 2007.  The average sold price of residential real estate in Long Beach for year end 2007 was $543,770, end September finds the average sale price of residential at $454,208 with a small increase in the number of days on market; that is a decrease in average sale price of $89,562, which is substantial. The volume of Long Beach home and condo sales has dropped this month after steady growth throughout the year. 

Read more »

http://www.longbeachrealestatehome.com/0044DE

Belmont Heights Market Report

Homes, Condos and Income Properties

Long Beach California Real Estate Sales - 2008

Updated: October 4, 2008

 

Belmont Heights is bounded by:

 

• Ocean Blvd and Livingston Drive on the South
• Redondo Avenue on the West
• 4th Street to the North
• Nieto Avenue to the East

 

The Belmont Heights neighborhood of Long Beach California is a lovely, ecclectic mix of early century homes, low rise condos, smaller apartment buildings (including some fabulous spanish duplexes), restaurants, coffee shops, funky stores, galleries and a nice mix of neighborhood friendly small business. Just blocks from the bluffs, overlooking the harbor, the beach, and a short walk into Belmont Shore, Belmont Heights is a tree lined Long Beach Community developed in the early 20th Century, and a great place to call home. Many of the neighborhood homes were originally built as summer cottages mostly between 1905 and 1939, later becoming year round residences. More bungalow style homes can be found here than in any other community of Long Beach.

 

 

Read Also:

• Belmont Heights Neighborhood of Long Beach California Resource Guide
• Bluff Park Historic District Neighborhood Market Report
• Long Beach California Beach Communities
• History of Long Beach California
• Long Beach CA Historic Homes and Districts
• THE MILLS ACT

 

 

 

Belmont Heights Homes - Sales 2008

 

There are currently 75 Homes for sale in Belmont Heights, ranging in price from $318,900 to $2,350,000.

• Average Price: $1,001,988
  
• Average Days on Market: 94
  

 

There are currently 9 Belmont Heights Homes in escrow, accepting Back-Up offers.

• Average Price: $889,438
• Average Days on Market: 94
  

 

and 5 Belmont Heights Homes are Pending in escrow:

• Average Price: $773,799
• Average Days on Market: 89
  

 

68 Homes in Belmont Heights have closed escrow in 2008.

• Average Price: $869,551
• Average Days on Market: 81
  

 

Belmont Heights Homes For Sale

• Belmont Heights Homes For Sale $800000 and less
• Belmont Heights Homes For Sale $800000 to $1200000
• Belmont Heights Homes For Sale $1200000 and higher

View all available Belmont Heights Homes For Sale, this feed is Live from the MLS and is updated on a regular basis

 

Belmont Heights Condos-Coops-OYOs - Sales 2008

 

No Coops or OYOs have sold in Belmont Heights in 2008.

 

There are 42 Belmont Heights Condos For Sale and 6 OYOs (Own Your Own) For Sale  ranging in price from $205,000 to $949,000.

• Average Price: $402,525
• Average Days on Market: 102
  

Read more »

http://www.longbeachrealestatehome.com/004051

Downtown Long Beach Real Estate Sales-Market Update

 

Homes, Condos, Coops, OYOs, Income Properties

 

Updated:  September 29, 2008

 

 

 

Downtown Long Beach Homes

 

 

There are 21 Downtown Long Beach Homes For Sale ranging in price from $215,000 to $1,300,000.

• 0 homes are for sale under $200,000
• 7 homes are for sale between $200,000 and $300,000
• 4 homes are for sale between $300,000 and $400,000
• 3 homes are for sale between $400,000 and $500,000
• 2 homes are for sale between $600,000 and $700,000
• 1 home is for sale at $800,000
• 1 home is for sale at $1,300,000
  

• Average Price:  $435,795  up slightly from last months $432,110
• Average Days on Market:  160 up a bit from last months 140

Downtown Long Beach and Alamitos Beach Homes for sale:

 

 

There are 4 Downtown Long Beach Homes pending in escrow

• 1 @ $144,900
• 1 @ $189,900
• 1 @ $275,500
• 1 @ $350,000
  

 

• Average Price:  $240,075 down slightly from last months $247,250
• Average Days on Market:  96 up from last months 53

 

 

There are 3 Downtown Long Beach Homes in escrow accepting back up offers.

• 1 @ $190,000, 997 sq ft
  
• 1 @ $219,000, 772 sq ft
  
• 1 @ $381,800, 1,764 sq ft

• 
  
• Average Price:  $263,600
• Average Days on Market:  108
  

 

 

5 Downtown Long Beach Homes have closed escrow in 2008.

• 1 @ $118,000
• 1 @ $184,000
• 1 @ $330,000
• 1 @ $355,000
• 1 @ $400,000

• Average Price:  $277,400 down a bit from last months $289,666
• Average Days on Market:  28 up from last months 8

 

 

 

 

 

Downtown Long Beach Condos, Coops and OYOs

There are 166 Downtown Long Beach Condos For Sale ranging in price from $75,000 to $2,699,999.

• Average Price:  $408,136 down slightly from last months $410,332
• Average Days on Market:  99 the same as last months 99

Read more »

http://www.longbeachrealestatehome.com/0040C8