Before you begin searching for your Long Beach Condo or Loft edcuate yourself by reading our Long Beach Condo Buyers Guide: 


Long Beach Condos Buyers Guide | Manifesto

 

 


Long Beach Condos Buyers Guide|Manifesto-Long Beach Real Estate-California

Long Beach Condos Buyers Guide|Manifesto-More Info Call (562) 212-5420-Long Beach Real Estate-Main Street Realtors-Laurie Manny-Long Beach Realtor



Long Beach Condos Buyers Guide|Manifesto


Long Beach Condos and Lofts-Long Beach Realtor-562-212-5420-Laurie MannyWhether you are a first time buyer an experienced pro or investor buying a Long Beach condo or loft can be a confusing and often stressful process.  It's an emotional experience filled with many decisions, most with financial repercussions.  Finding the right condo or loft is difficult enough; knowing what to offer, what and when to negotiate and how to make the deal work best for you, the buyer, is another story altogether. 


As a professional who has sold many Long Beach condos and placed countless buyers in the Long Beach condos of their dreams, I feel it is my responsibility to tell you that there is a lot you need to know before jumping into your condo purchase. 


Your Needs and Desires...


It is important that you have a clear image of what you are looking for and that you transmit this clearly to your Realtor.  Make a list and explain your needs and your desires.  Understanding the difference between your needs and your desires will make your choices much easier to make.  Your needs must be met, your desires may be sacrificed if they are not practical within your price range.  Are you looking for a larger place for your growing family or are you looking for a larger place for entertaining?  Where do you need that extra square footage?  What will you sacrifice for it, if necessary?    Are you downsizing?  What are you willing to let go of?  Don't let emotions cloud your judgment.  Make certain that you get what you need from the new purchase; if some of your desires are fulfilled, all the better. 

 

Be clear with your Realtor when explaining what you are looking for.  What is most important to you? 

  • Newly Remodeled
  • View
  • Square Footage
  • Number of Bedrooms
  • Number of Baths
  • Condition
  • Flooring
  • Fireplace
  • Parking Spaces/Garages/Guest Parking
    • Side by side
    • Tandem
  • Pet Rules
  • Pool
  • Spa
  • Community amenities
  • Concierge Services
  • Doorman
  • Gated Security
  • High Rise
  • Elevator
  • Location in the complex/top floor/corner unit/bottom floor
  • Neighborhood
  • Age of condo
  • Proximity to
    • beaches
    • restaurants
    • galleries
    • parks
    • golf courses
    • shopping
    • freeways
  • etc...


Often a condo purchase is more about buying into a neighborhood lifestyle (location).  If lifestyle is at the top of your needs list make certain that is clearly communicated to your Realtor.   Do you entertain much?  Make sure your complex has guest parking or there is ample parking in your new neighborhood. 


Are You Ready to Start Shopping?

 

Unless you are an all cash buyer (be prepared with proof of funds), you will need to be pre-approved, preferably by a direct lender.  If you have great credit and belong to a credit union you may be able to get a stellar interest rate from them, check it out.  When you find a condo that you want to make an offer on you will need to submit you're pre-approval with the offer.  It is foolish to begin to shop without a pre-approval; you might find your dream condo the first day out, like another of my recent buyer clients. You need to be in a position to write and submit your offer when you find the Long Beach condos that you want to purchase.  Bank statements will probably need to be submitted along with your offer as proof of sufficient funds to consummate the transaction, have them with you with the account number blacked out.

 

Consider Your Future...


Always consider the future resale value of your condo purchase.  I know, it's difficult when you find the perfect condo in a not so perfect location; or it has the 2 bedrooms and 2 baths that you wanted but only has 1 parking space in a parking impacted area.  Unless you live alone that missing 2nd parking space is certain to become a real problem while you are living in your new dream condo and will probably become the reason you will want to move on rather quickly.  Will you be able to sell that condo easily without a 2nd parking space, or in an area that isn't in such high demand?  Some areas appreciate quicker than others, if you can afford to purchase in an area with higher appreciation it would be a much smarter purchase. 


Are you buying the smallest or least desirable condo in a highly desirable complex?  When it is time to sell you may sit on the market for longer, sell for less, or not sell at all if other larger more desirable units are for sale at the same time.   Buying the smallest, least desirable condo in a highly desirable complex and neighborhood isn't always a bad decision.  If it provides you with the lifestyle that you are craving at a price that you can afford, the condo will fulfill your needs.  Just remain aware that it will take you longer to sell it when the time comes.  In the meantime have a grand time enjoying the lifestyle you craved. 

 

Remain Flexible and Alert...


Your Realtor should be familiar with the inventory available in the neighborhood of your choice.  They will most likely show you the best of what is available, based on your stated needs and desires, on your first and second trips out.  If you do not find what you want you should begin making adjustments in your search criteria quickly.  Continuing to search, in a specific area, after you have seen the best of what is available within your price range is usually a downward spiral; either adjust your needs, desires or price range; or wait for new inventory to enter the market.  Remember there are other buyers watching and waiting as well, you will have to move quickly. 


Loose Lips Sink Ships...


While you are shopping you may run into a seller at home.  As a buyer this may seem like a stellar opportunity to ask questions and garner information about the condo, the complex and the area.  Often without realizing it, your simple conversation with the seller could cost you money at the negotiating table.  Without realizing it you may be letting the seller, or the listing agent, know how badly you want the condo, or how much you love the condo or neighborhood.  Knowing how badly you want it may net you a different counter offer than you may have received had you not had that conversation.  Sellers face the same problem, conversations with buyers or their agents often cost them money by way of a lower offer and tougher negotiation than they would have received.  This is why Realtors always try to keep the buyer and seller apart until the deal is either closed or past any possible negotiation time frames; loan approval, removal of contingencies, appraisal, repair requests, etc...  It's in your best interest!  You should be confident that your Realtor is capable of negotiating your offer and will not reveal personal information that could adversely affect your negotiations. 

 

Future Planning?


Condo prices are so affordable right now many buyers are purchasing more condo than they need with a mindset towards their future growth and needs; marriage, children, home office, etc...  Do you have future needs?  Will they become an issue in the next 3 to 5 years?  Perhaps you are a better candidate for a single family residence to anticipate these needs?  Keep in mind that there is no guarantee that you will be able to sell at break even in 3 to 5 years.  When you do sell you will need to recoup your purchase price plus the cost of sale.  The cost of sale involves commission, your closing costs and any costs given to your buyer during negotiations; plan on approximately 9% appreciation to break even.  That could take some time in today's market. 

 

After Purchase Expenses...


Not all condos are in turnkey condition.  Condo fixer-uppers can become expensive and the upgrades are all 'after purchase' money and can add up quickly. 

  • Kitchen
  • Baths
  • Appliances
  • Flooring
  • Heating
  • Air Conditioning
  • Water Heater
  • Paint
    • Wallpaper Removal
    • Ceiling Scraping

 

Do you have the after purchase resources to accommodate these upgrades?  Are you willing to pay market value, or near market value, then make an additional investment into the property?  How long will it take you to recoup the additional investment?  How will that affect your future life plan? 


Many inexperienced investors are purchasing, doing a quick remodel, then attempting to sell (flip) to recover costs and make a profit.  Often these inexperienced investors find they spent too much on the remodel and become stuck renting the unit out.  Truly experienced investors have warehouses filled with cabinets, flooring, etc... which were purchased at wholesale, and have crews on salary trained to go in and do a professional, fast and inexpensive remodel, list the condo and still retain a decent profit margin.  Flipping condos is not for the inexperienced investor. 

 

Read Also:  Buying Fixer Upper Homes in Long Beach - This article was written to Home buyers, but has many relevant points for condo and loft buyers as well. 

 

Always Inspect...


Hire a professional inspector.  While most problems in a condo are fairly visible a professional inspection will set your mind at ease regarding those that are not, like air conditioning, heating, water heaters, which are/are not operable and may possibly, be nearing the end of their useful life. 

 

Don't Procrastinate...


When you locate the condo that you want to buy you should write your offer right away.  If it is new on the market and highly desirable you may find yourself in a multiple offer situation.  Make the best possible offer that you are willing to, decide if you are willing to negotiate further if you receive a multiple counter offer and go for it.  Some people don't want to write offers if they even think there is going to be a multiple offer situation.............you have to be in it to win it!  Go ahead and write your offer, the worst that can happen is that you are overbid.  Your Realtor will have called the listing agent (I hope) and may have some information that will help you decide how to present an offer. 


Going home to sleep on it or wanting to bring parents or friends to look at it before you make your decision to even write an offer will often put you out of the game.  Write the offer, show it to them if your offer is accepted...good properties move fast.  If they ixnay it you can always get out of the deal during your 17 day contingency time frame, no harm, no foul! 


If you find a condo that you like, but something just doesn't feel right, it's probably not the right purchase for you.  In this case, go home and think about it for a while.  Yes you might lose it, but that may be for the best if you had reservations in the first place.  There is plenty more inventory on the market, something else will turn up. 

 

Your Realtor is Your Advocate...


Thinking about shopping without a Realtor?  Think you will just write an offer through the listing agent?  Think this will help you get your lowball offer accepted?  It will, if you find a crooked listing agent!  Do you want to be represented by a crooked agent?  Oh wait a minute....they don't represent you...they represent the seller; they are just facilitating your deal.  It's called dual agency or double ending.  It's actually legal in California, but very few agents can or will handle it in a truly professional manner.  It's not the best position for the buyer to be in and let's face it if the agent is crooked are you going to get actual disclosure or are you going to find out you were duped by a neighbor after you move in?  Having your own representation is more valuable than you realize. 

 

Buying Bank Owned?


Banks are not subject to the same level of disclosure as actual home owners in a standard sale are.  The government, recognizing their unfamiliarity with the property, has relieved them of much disclosure.  You will have to do some extra investigating to discover the facts about your possible purchase.   A good agent familiar with condo purchases can make a huge difference.   

 

Found My Condo...Now What?


When you find a condo and are considering writing an offer your agent should prepare a Comparative Market Analysis of like properties in the area and present it to you along with the actual Comparable Sales.  Together with your Realtor you will decide on the price and terms of your offer.  Remember when you submit an offer the bank or seller will be looking at their net proceeds.  So if you offer a solid price but ask for a lot of closing costs and other extras you could easily lose the deal to a better NET offer, even one that is less in price than yours.  It's all about the NET!


If your Realtor is really sharp they will find out what the sellers motivation is.  A motivated seller is more likely to negotiate than an unmotivated seller.  In a down market it isn't really wise to sell unless you have to, so most sellers are motivated on one level or another, some more than most.


Reasons for selling that will create a very highly motivated seller:

  • Job Loss
  • Job Transfer/Relocation
  • Lifestyle Change
    • Marriage
    • Children
    • Home Business

 

Condos that have been sitting on the market for a long time, perhaps expired a few times and/or have reduced their price, sometimes several times, often have a worn down seller who is finally ready to negotiate.   Vacant condos are expensive for owners to maintain.  There is only so long anybody can/or is willing to carry the mortgage, HOA fees, taxes and insurance without the rental income to offset the expense. 

 

Home Owner Associations...HOA...


Many Condo Associations are in financial difficulty.  Once your offer is accepted the escrow company must order a fresh copy of the CC&R's, financials, budget and minutes and deliver them directly to the buyer within the contingency period indicated on the purchase contract; usually 17 days, unless that time frame has been reduced.  Buyers should go over these documents in fine detail and determine the financial stability of the association and whether is it prudent to move forward. 


  • How much are the monthly expenses?
  • How much is in the reserve account?
  • Is the insurance current?
  • Is there an increase in the HOA dues scheduled?
  • Is there mention of any upcoming assessments?
  • What do the minutes say?
    • Are there upcoming repairs scheduled?
    • Is there enough money to cover the repairs or will there be an assessment?
  • Are the pet rules satisfactory?
  • Have you read the Rules and Regulations?

 

Read the documents and ask questions until you are satisfied.  If the documents are unsatisfactory the buyer should cancel the escrow immediately.  Not all HOA's are in trouble, just beware of the one's that are.

 

Read Also:  Long Beach Condo Buyers Beware - Don't let this article frighten you, let it educate you. 

 

More Long Beach Condo Buyer Tips:  Long Beach Condos - Buyer Tips for a Smart Purchase


Are you overwhelmed yet? 


Sounds like a real handful doesn't it?  It is!  That is why you need top notch representation.  I can make this easy and a lot less stressful for you.  Call me if you are thinking about buying or selling a Long Beach Condo (562) 212-5420 Laurie Manny, Your Long Beach Realtor. 

 

 

Long Beach Condos For Sale

 


Relocating to Long Beach California?


Check out our Relocation and City Guide - Relocating to Long Beach California



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Main Street Realtors Long Beach - Laurie Manny - Long Beach 
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Long Beach Realtor®

(562) 212-5420

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

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  • Condos
  • Income Properties
  • 1031 Exchanges
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Spinnaker Bay | Spinnaker Cove |Townhouse Sales and 2010 Market Update - Long Beach Luxury Waterfront Real Estate and Resort Living

Spinnaker Bay Homes & Spinnaker Cove Townhouse Market Report 2010 (562) 212-5420 Long Beach Luxury Waterfront Real Estate - Includes: Closed Spinnaker Bay Homes and Spinnaker Coves Townhouse Sales Reports for 2007 through 2009-Long Beach Real Estate



Spinnaker Bay Homes & Townhouses

Market Report and Update 2010


January 1, 2010 - May 31 2010
Includes: Closed Spinnaker Bay Homes and Spinnaker Cove Townhouse Sales Reports for 2007 through 2009

Spinnaker Bay - Long Beach California

Luxury Waterfront Homes and Townhouse Sales


Surrounded by water Spinnaker Bay and Spinnaker Cove are the perfect environment to enjoy waterfront resort style living at it's finest.  Elegantly appointed, mediterranean style waterfront homes and lavish townhouses offer assorted sized boat slips, there is even a cay for boats of 50 feet.  Larger boat slips are at a premium here in Long Beach, at Spinnaker you can step out of your home and onto your boat for a day of enjoyment cruising the lovely Naples Canals, for a day out on the Ocean deep sea fishing or take a trip over to Catalina Island, 25 miles off of our shore.  Prefer a longer voyage? Cruise down to Newport for dinner, San Diego or Santa Barbara for the weekend!  Easy and unobstructed access from your dock to open water.  Looking for a great spot to purchase a vacation home?  Spinnaker Bay is perfect!

 

Just 24 miles south of LAX and 19 miles north of John Wayne airport, Spinnaker Bay is conveniently located to accommodate your travel needs.  We even have our own airport!  Long Beach Airport is just minutes away with regularly scheduled flights to and from New York and many other locations for your convenience, we are home to Jet Blue airlines.  Freeways are easily accessible, but far enough away not to be a nuisance. 

 

Shopping, theaters and restaurants are close by, some providing boat slips for easy access.  It's a waterfront lifestyle at Spinnaker Bay and Spinnaker Cove. 

 

What are you waiting for?



View Larger Map


5 Spinnaker Cove Luxury Townhouses For Sale

Spinnaker Coves Community includes:  Community Pool and Spa, Tennis Courts and Clubhouse nestled in a beautiful garden setting. 

# Type Address Bed B t/f St Gar SqFt YBlt List Price DOM
CONDO  5416 Heron Bay 20  3/3  1,748  1982  $669,950  10 
CONDO  5415 Heron Bay  3/2  1,532  1982  $749,000  77 
CONDO  5650 Azure Bay  3/2  1,748  1982  $925,000  633 
CONDO  5654 Azure Way  3/2  1,769  1982  $1,100,000  32 
CONDO  5530 Azure Way  4/3  2,068  1982  $1,395,000  77 
Average 3     2 1,773   $967,790 166
Number of Properties: 5
Average ( ListPrice / SqFt ) : ( 967790 / 1773 ) = $ 545.85

*DOM=Days on Market


4 Spinnaker Bay Luxury Homes For Sale

# Type Address Bed B t/f St Gar SqFt YBlt List Price DOM
SFR  320 Salta Verde Pt  4/3  2,841  1998  $1,200,000  360 
SFR  5872 Spinnaker Bay Dr  3/2  2,700  1991  $1,565,000  46 
SFR  5769 Spinnaker Bay Dr  3/2  2,540  1990  $1,695,000  166 
SFR  6025 Prince Is  4/3  2,693  1998  $1,795,000  105 
Average 3     2 2,694   $1,563,750 169
Number of Properties: 4
Average ( ListPrice / SqFt ) : ( 1563750 / 2694 ) = $ 580.46

*DOM=Days on Market

 

View Spinnaker Bay Homes and Spinnaker Cove Townhouses For Sale

Updated regularly.  Contingent status is in escrow accepting back up offers. 

 

 

Search Long Beach Homes and Condos now:

mls wizard

 

Spinnaker Bay Luxury Home with 40' Boat Slip
350 Salta Verde Pt.

 

Spinnaker Bay Luxury Waterfront Home with 40 foot boat slip

 

350 Spinnaker Bay Luxury Home-Long Beach Real Estate

Buyer Represented by  
Laurie Manny Sale Price $1,755,000


Spinnaker Bay Luxury Homes and Townhouses - Sales 2009

 

6  Spinnaker Bay Homes and 2 Spinnaker Cove Townhouses Sold -Closed Escrow - in 2009

 

  • Average Sale Price: $1,044,750
  • Average Days on Market: 198

 

# Type Address Bed B t/f St Gar SqFt YBlt Sold Price Sold Date DOM
CONDO  5404 Heron Bay  3/2  1,748  1982  $760,000  11/20/2009  88 
CONDO  5628 Azure Way  3/2  1,532  1982  $872,500  11/12/2009  104 
CONDO  5542 Azure Way  3/2  1,748  1982  $935,000  5/01/2009  241 
SFR  311 Whites Lndg  3/2  2,265  1992  $1,075,000  11/24/2009  197 
SFR  5540 Spinnaker Bay Dr  3/2  2,032  1989  $1,123,000  9/23/2009  209 
SFR  346 Parsons Lndg  3/2  2,323  1990  $1,305,000  10/16/2009  347 
Average 3     2 1,941   $1,011,750   198
Number of Properties: 6
Average ( SalePrice / SqFt ) : ( 1011750 / 1941 ) = $ 521.25

*DOM=Days on Market


Spinnaker Bay Luxury Homes and Townhouses - Sales 2008


10 Spinnaker Bay Homes and 2 Spinnaker Cove Townhouses closed escrow in 2008

 

  • Average Sale Price: $1,314,358
  • Average Days on Market: 171

 

# Type Address Bed B t/f St Gar SqFt YBlt Sold Price Sold Date DOM
1 CONDO 5400 Heron Bay 3 3/2 3 2 1,769 1982 $735,000 8/01/2008 170
2 CONDO 5405 Heron Bay 3 3/3 2 2 2,202 1982 $780,000 8/29/2008 131
3 SFR 310 Blue Cavern Pl 3 3/2 S 2 2,307 1989 $900,000 8/13/2008 162
4 SFR 310 Casino Pt 3 3/2 2 2 2,265 1997 $1,285,000 4/17/2008 5
5 SFR 5580 Spinnaker Bay Dr 3 3/2 2 2 2,032 1989 $1,302,000 10/12/2008 57
6 SFR 5960 Spinnaker Bay Dr 3 2.5/ 2 2 2,560 1998 $1,323,000 1/05/2008 240
7 SFR 319 Empire Lndg 3 3/1 2 2 2,429 1989 $1,400,000 6/21/2008 54
8 SFR 343 Blue Cavern Pt 3 3/2 2 2 2,032 1989 $1,493,500 6/17/2008 284
9 SFR 343 Whites Lndg 3 3/2 2 2 2,265 1993 $1,600,000 11/12/2008 74
10 SFR 335 Salta Verde Pt 3 4/3 2 2 2,693 1998 $1,573,800 6/18/2008 403
11 SFR 5549 Toyon Bay 3 3/2 2 2 2,429 1989 $1,625,000 12/02/2008 136
12 SFR 350 Salta Verde Pt 3 3/2 2 2 2,560 1998 $1,755,000 6/06/2008 333
Average 3     2 2,295   $1,314,358   171
Number of Properties: 12
Average ( SalePrice / SqFt ) : ( 1314358 / 2295 ) = $ 572.71

*DOM=Days on Market

 

Spinnaker Bay Luxury Homes and Townhouses - Sales 2007

 

6 Spinnaker Bay Luxury Homes and 4 Spinnaker Cove Luxury Townhouses - Sold - Closed Escrow - in 2007

RES Type Address Zip Bd Bth Sty Gar SqFt Yr Blt Price DOM
1 CONDO 5409 Heron Bay 90803 3 3 2 2 A 2,202 1982 $825,000 60
2 CONDO 5418 Heron Bay 90803 3 3 S 2 A 1,748 1982 $950,000 34
3 CONDO 5403 Heron Bay 90803 3 3 2 2 2,202 1982 $1,050,000 37
4 CONDO 5532 Azure Way 90803 3 3.5 2 2 A 2,068 1982 $1,347,500 10
5 SFR 5564 Spinnaker Bay Dr 90803 3 2.5 2 2 A 2,032 1989 $1,350,000 132
6 SFR 330 Whites Landing 90803 3 2.5 2 2 2,003 1995 $1,560,000 89
7 SFR 5757 Spinnaker Bay Dr 90803 3 3 2 2 A 2,429 1990 $1,550,250 28
8 SFR 323 Blue Cavern Pt. 90803 3 3 2 2 A 2,032 1989 $1,575,000 161
9 SFR 351 Whites Landing 90803 4 2.75 2 2 A 2,531 1993 $1,920,000 334
10 SFR 6085 Prince Island 90803 3 2.5 2 2 A 2,430 1998 $2,150,000 324

 

  • A - For Sale
  • P - Pending in Escrow
  • B - In Escrow, accepting Back-up offers
  • S - Sold - Closed Escrow
  • DOM - Days on Market
  • TGNO - Thomas Guide Map Number

 

Spinnaker Bay Luxury Waterfront Homes For Sale


Call Laurie today for your appointment to view beautiful Spinnaker Bay and Spinnaker Cove Luxury Dream Homes and Townhouses

(562) 212-5420


Relocating to Long Beach-Resource & City Guide


Long Beach Area Information:



(Direct feeds from the Southern California MLS)

Belmont Shore and Naples Island Luxury Real Estate For Sale


Long Beach Homes For Sale


Long Beach Condos For Sale


Long Beach Income Properties For Sale


Spinnaker Bay: 

  • Spinnaker Bay Drive
  • Smugglers Cove
  • Salta Verde Point
  • Prince Island
  • Whites Landing
  • Parsons Landing
  • Blue Cavern Point
  • Empire Landing
  • Long Point
  • China Point


Spinnaker Cove:

  • Azure Way
  • Heron Bay

 

 



http://www.longbeachrealestatehome.com/0093F7

Main Street Realtors Long Beach - Laurie Manny - Long Beach 
Realtor   

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
Long Beach MLS Search

Get Your Homes Value

Featured Listings

Contact Us

 

4161 Hathaway 46 Long Beach CA-Circle Area Condo - SOLD - I can sell YOURS too!

Long Beach Real Estate Search Engine Marketing Specialist - Laurie Manny 562-212-5420

Best Los Angeles Real Estate Agent Blog-Long Beach Real Estate Home

Posted on May 31, 2010 22:00:00 by Laurie Manny
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Long Beach Condos 2010 Sales Update-Long Beach Real Estate Sales

Long Beach Condo Sales 2010 Update-(562) 212-5420-Long Beach Real Estate Sales



Long Beach Condos - 2010 Sales Update

State of the Market

Updated May 26, 2010



Despite assorted claims that prices are going up, actual sales statistics do not support these claims  Below find 2010 Long Beach Condo sales indicating what is currently available and what has actually sold (closed escrow) in specific categories.  In each case recent average closed sale prices are below average active sale prices. 


High Rise Long Beach Condos Waterfront View Downtown Long Beach CaliforniaHave you ever wondered what the value of an additional bath or an additional parking space is? Have you pondered how important this is to buyers?  Do you doubt that an additional bath or parking space may be the catalyst that actually sells your Long Beach Condo? 


The number of bedrooms, bathrooms and assigned or deeded parking spaces makes a difference in the value and desirability of Long Beach Condos for sale; there is considerable value attributed to additional bathrooms and parking spaces.  Today's buyer is searching for the most their money will purchase.  While most buyers want a master and a guest bath for their convenience, they are also considering future resale value; they are buying today anticipating the future sale of the condo. Condos with 2 baths and parking spaces command higher prices on resale.   While condo sellers usually cannot cure the lack of an additional bath or parking space they can price their condos appropriately to entice a buyer to purchase. Staged condos increase desirability and command higher prices.  Overpricing your Long Beach Condo will cause you to chase the market down

 

Many Long Beach condos that are remodeled, staged and priced to sell are receiving multiple offers as fast as they are placed onto the market.  Multiple offers are great for the seller, they are able to choose a strong offer and have the best chance of closing escrow.  Multiple offers are very stressful for buyers who must carefully consider their offer in order to compete with the many offers.  Many sellers, including banks, are utilizing pricing strategies at this time; pricing low to incite multiple offers and drive the price up to as close to market value as possible.  They do not want to sit on the market and have their listing become stale, they want it sold quickly.  Smart buyers are recognizing these strategies and are writing their offers accordingly for acceptance. 


Some Long Beach condos are currently experiencing financial difficulties.  Buyers will learn about HOA finances and how they can seriously affect your financial future in this article:  Long Beach Condo Buyers Beware


Here we have broken down 2010 Condo sales in Long Beach to specifically show what the consumer is buying - what is important to them.  We hope you find this information helpful when thinking of buying or selling your Long Beach Condos. 



Long Beach Condos - 3 Bedrooms 3 baths 2 parking spaces


Currently Active on Market:  27

Average Price:  $728,649

Average Days on Market:  80

Average ( ListPrice / SqFt ) : ( 728649 / 1836 ) = $ 396.87


13 CLOSED SALES:

Average Price:  $475,307

Average Days on Market:  68


Average ( SalePrice / SqFt ) : ( 475307 / 1748 ) = $ 271.91


Long Beach Condos - 3 Bedrooms 2 baths 2 parking spaces


Currently Active on Market:  14

Average Price:  $576,992

Average Days on Market:  108

Average ( ListPrice / SqFt ) : ( 576992 / 1417 ) = $ 407.19


13 CLOSED SALES:

Average Price:  $481,961

Average Days on Market:  104


Average ( SalePrice / SqFt ) : ( 481961 / 1330 ) = $ 362.38


Long Beach Condos - 3 Bedrooms 2 baths 1 parking space


Currently Active on Market:  4

Average Price:  $290,500

Average Days on Market: 63

Average ( ListPrice / SqFt ) : ( 290500 / 1206 ) = $ 240.88


4 CLOSED SALES:

Average Price:  $377,250

Average Days on Market: 47

Average ( SalePrice / SqFt ) : ( 377250 / 1273 ) = $ 296.35


Long Beach Condos - 2 Bedrooms 2 baths 2 parking spaces


Currently Active on Market:  72

Average Price:  $338,703

Average Days on Market: 97

Average ( ListPrice / SqFt ) : ( 338703 / 1138 ) = $ 297.63


79 CLOSED SALES:

Average Price:  $293,403

Average Days on Market:  107

Average ( SalePrice / SqFt ) : ( 293403 / 1116 ) = $ 262.91


Long Beach Condos - 2 Bedrooms 2 baths 1 parking space


Currently Active on Market:  58

Average Price:  $281,643

Average Days on Market: 85

Average ( ListPrice / SqFt ) : ( 281643 / 993 ) = $ 283.63


129 CLOSED SALES:  

Average Price:  $265,719

Average Days on Market:  93

Average ( SalePrice / SqFt ) : ( 265719 / 1046 ) = $ 254.03


Long Beach Condos - 2 Bedrooms 1 bath 2 parking spaces


Currently Active on Market:  5

Average Price:  $160,640

Average Days on Market: 39

Average ( ListPrice / SqFt ) : ( 160640 / 894 ) = $ 179.69


4 CLOSED SALES:  

Average Price:  $145,225

Average Days on Market: 45

Average ( SalePrice / SqFt ) : ( 145225 / 847 ) = $ 171.46


Long Beach Condos - 2 Bedrooms 1 bath 1 parking space


Currently Active on Market:  12

Average Price:  $197,691

Average Days on Market: 84

Average ( ListPrice / SqFt ) : ( 197691 / 898 ) = $ 220.15


15 CLOSED SALES:  

Average Price: $139,866

Average Days on Market: 71

Average ( SalePrice / SqFt ) : ( 139866 / 838 ) = $ 166.90


Long Beach Condos - 1 Bedroom 1 bath 1 parking space


Currently Active on Market:  57

Average Price:  $203,661

Average Days on Market:  95

Average ( ListPrice / SqFt ) : ( 203661 / 690 ) = $ 295.16


58 CLOSED SALES: 

Average Price:  $194,981

Average Days on Market:  98

Average ( SalePrice / SqFt ) : ( 194981 / 740 ) = $ 263.49


Long Beach Loft Sales - All


Currently Active on Market:  8

Average Price:  $414,250

Average Days on Market: 123

Average ( ListPrice / SqFt ) : ( 414250 / 1713 ) = $ 241.83


10 CLOSED SALES:

Average Price: $297,300

Average Days on Market: 168

Average ( SalePrice / SqFt ) : ( 297300 / 1187 ) = $ 250.46


When you are ready to buy or sell your Long Beach Condo call Laurie (562) 212-5420 to begin your search. 

 


We have put together important information for first time Long Beach home buyers:

 

 

Custom Search's for Foreclosed-REO-Bank Owned Homes-Condos-Income Properties by area:


Long Beach Condos For Sale

 



http://www.longbeachrealestatehome.com/00AB7D

Main Street Realtors Long Beach - Laurie Manny - Long Beach 
Realtor   

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
Long Beach MLS Search

Get Your Homes Value

Featured Listings

Contact Us

 

4161 Hathaway 46 Long Beach CA-Circle Area Condo - SOLD - I can sell YOURS too!

Long Beach Real Estate Search Engine Marketing Specialist - Laurie Manny 562-212-5420

Best Los Angeles Real Estate Agent Blog-Long Beach Real Estate Home

Posted on May 26, 2010 18:45:00 by Laurie Manny
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$8,000 Federal Tax Credit for First Time Home Buyers - Long Beach Real Estate

$8,000 Federal Tax Credit for First Time Home Buyers-Time is running out only 18 days left to get under contract.



Time is running out! 

Only 18 Days left to get under contract!

 

April 30, 2010 is the cutoff for first time buyers to be under contract in order to take advantage of the $8,000 Federal first time buyers tax credit.  Long Beach First Time home buyers who don't already have a home under contract are running out of time.

Long Beach First Time Home Owner Tax Credit

 

When this bill was signed into law it extended the existing $8,000 first time home owners tax credit (click for more details) through April 30, 2010 for First Time Home buyers and includes a 60 day extension if a binding contract is already in place prior to the deadline.   The credit can be utilized for up to 10% of the home purchase price to a maximum of $8,000.  A first time home owner is defined as someone who has not owned a residence in the last 3 years. Homes purchased in 2010 may claim this tax credit on their 2009 tax returns.  More information on this bill can be found here.

 

Existing homeowners will now receive a tax credit of $6,500 if they have lived in their current homes for 5 years.  This tax credit is available for the purchase of 'principle residences' only, purchased for $800,000 or less.  Home owners will be able to utilize 10% of the purchase price up to a maximum of $6,500 .


This bill increased qualifying income limits for the tax credits as follows:

  • Taxpayers filing as single:  Increased to $125,000
  • Taxpayers filing jointly:  Increased to $225,000

 

If a home buyer utilizes this tax credit and does not reside in the home for a minimum of 36 months the tax credit must be repaid.  This means the home buyer must use this home as their principle residence for no less than 3 years to retain this tax credit. Active duty military personnel are exempt from this requirement under military order. These tax credits can not be claimed by anyone under 18 years of age.

 

This article should not be construed as tax advice, you should always consult with your tax advisor before making a purchase to decide on what course of action is best for you individually. 


In the last few months I have received many calls from first time home buyers interested in utilizing the $8,000 tax credit who were seeking advice. Many of these buyers were barely able to scrape together the 3 1/2% required for the down payment required to qualify for an FHA loan.  I asked these buyers how they will facilitate necessary and/or emergency repairs to the home once purchased, buyers should ask themselves this question before beginning their search.  There are many things to consider when you are purchasing your first home. One of the most overlooked details when purchasing a first home is after purchase expenses, which can be considerable. 

 

When you purchase your first home be aware of the age of the existing components of the home:

  • Age and condition of roof
  • Age and composition of plumbing
  • Age of electrical components and existing upgrades
  • Condition of foundation
  • Age and condition of windows
  • Age and condition of kitchen
  • Age and condition of bathroom
  • Age and condition of existing flooring


These items are all costly repairs and upgrades.  If you do not have the available cash to facilitate these repairs or upgrades how will you handle it when the need arises?  Buying a home is a large responsibility, first time buyers should educate themselves and think to the future before deciding to buy today.  An $8,000 credit today will not help you if you have to spend $40,000 to replace a roof 12 months later and the funds are not available. 

 

We have put together important information for first time Long Beach home buyers:


 

This article addresses issues that many first time home buyers do not consider, that being the remaining life of the existing systems currently in the home and the cost of future replacement. 



We don't just sell homes.  We educate our clients on a consultative basis.  When you are buying your first home your agent should be able to provide you with more than a list of available homes.  Choose your agent carefully, find somebody that you trust is working with your best interests in mind.   

 



http://www.longbeachrealestatehome.com/00A033

Main Street Realtors Long Beach - Laurie Manny - Long Beach 
Realtor   

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
Long Beach MLS Search

Get Your Homes Value

Featured Listings

Contact Us

 

4161 Hathaway 46 Long Beach CA-Circle Area Condo - SOLD - I can sell YOURS too!

Long Beach Real Estate Search Engine Marketing Specialist - Laurie Manny 562-212-5420

Best Los Angeles Real Estate Agent Blog-Long Beach Real Estate Home

Posted on April 11, 2010 18:09:00 by Laurie Manny
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Belmont Heights Market Report-Homes,Condos,Income Property Sales-Long Beach California Real Estate

Belmont Heights Neighborhood Market Report-2010-Sales Stats for Long Beach Homes, Condos, OYO's, Coop's and Income and Investment Properties.



Belmont Heights 2010 Market Report

Homes, Condos and Income Properties

Long Beach California Real Estate Sales

1/1/2010 - 4/6/2010

 

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:

 

 

Long Beach CA Real Estate Sales

 

Belmont Heights Homes - Sales 2010

 

There are currently 52 Homes for sale in Belmont Heights and Alamitos Heights, ranging in price from $330,000 to $2,799,999.  

  • Average Price: $902,953
  • Average Days on Market: 110

 

12 Belmont Heights Homes are in escrow, accepting Back-Up offers.

  • Average Price: $777,491
  • Average Days on Market: 91 

 

10 Belmont Heights Homes are Pending in escrow:

  • Average Price: $684,480
  • Average Days on Market: 97

 

107 Homes in Belmont Heights closed escrow year to date.

  • Average Price: $665,360
  • Average Days on Market: 87

 

Search Belmont Heights Homes For Sale


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

 

 

Long Beach CA Real Estate Sales


Belmont Heights Condos-Coops-OYOs - Sales 2010


Belmont Heights Own Your Own and Coop Sales 2010

 

No Coop's or OYOs sold in Belmont Heights in 2008.  No Coop's sold in Belmont Heights in 2009. Lagging sales in the OYO and Coop sector were and still are a direct result of the difficulty in obtaining financing for OYO's and Condos.  Most sales in this sector are all cash. 

 

Long Beach Own Your Owns-OYO-OYOs-in Long Beach - The OYO-Own Your Own form of ownership is a constant source of confusion for many buyers of Long Beach real estate, here you will find a simple explanation.

Long Beach Stock Cooperatives - Stock coops are another misunderstood form of ownership, here you will find a simple explanation.

 

No Stock Co-op sales in 2010

 

1 Belmont Heights OYO is in escrow, accepting Back-Up offers.

  • Listing Price: $108,000
  • Days on Market:  98

1 OYO in Belmont Heights closed escrow year to date.

  • Average Price: $75,000
  • Average Days on Market: 38

 


Belmont Heights and Alamitos Heights Condo Sales 2010


There are 52 Belmont Heights Condos For Sale ranging in price from $89,900 to $825,000.  

  • Average Price: $332,602
  • Average Days on Market: 76

 

12 Belmont Heights Condos are accepting Back-up Offers

  • Average Price: $280,566
  • Average Days on Market: 116

 

11 Belmont Heights Condos are Pending in Escrow

  • Average Price: $314,690
  • Average Days on Market: 51


23 Belmont Heights Condos have closed escrow year to date. 

  • Average Price: $327,391
  • Average Days on Market: 84

 


Search Belmont Heights Condos For Sale


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

 

Long Beach CA Real Estate Sales



Belmont Heights Income Properties - Sales 2010

 

There are 21 Belmont Heights income properties for sale, ranging in price from $469,000 (duplex-306 DOM) to $16,900,000 (74 units-279 DOM ).

  • Average Price: $1,799,752
  • Average Days on Market: 177

 

1 Belmont Heights Income Property is currently accepting Back Up Offers. 

  • Average Price:  $299,000
  • Average Days on Market:  112

 

7 Belmont Heights Income Properties are Pending in escrow. 

  • Average Price: $823,614
  • Average Days on Market:  97

 

6 Belmont Heights Income Properties Sold year to date. 

  • Average Price: $723,770
  • Average Days on Market: 46

 

 

Search Belmont Heights Income Properties For Sale


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

 

Long Beach CA Real Estate Sales

 

 

Beach Real Estate searches along the Long Beach Waterfront:

 



More Long Beach Neighborhood Market Reports



Call Laurie to view Belmont Heights Homes,

Condos and income properties for sale in Long Beach California

(562) 212-5420

 

 



http://www.longbeachrealestatehome.com/009337

Main Street Realtors Long Beach - Laurie Manny - Long Beach 
Realtor   

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
Long Beach MLS Search

Get Your Homes Value

Featured Listings

Contact Us

 

4161 Hathaway 46 Long Beach CA-Circle Area Condo - SOLD - I can sell YOURS too!

Long Beach Real Estate Search Engine Marketing Specialist - Laurie Manny 562-212-5420

Best Los Angeles Real Estate Agent Blog-Long Beach Real Estate Home

Posted on April 06, 2010 19:20:00 by Laurie Manny
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Laurie Manny Email Send feedback »
 

To begin your search for the perfect home or to sell your home in the Long Beach area, begin your journey by calling Laurie Manny at (562) 212-5420.