Long Beach Real Estate-Long Beach Condos

Property Tax Scam - Long Beach Homeowners Beware

 

The Los Angeles County Office of the Assessor has made an important announcement. 

If you receive mail from private companies offering to pursue a reduction in your property taxes for a hefty fee please contact the Los Angeles County Department of Consumer Affairs by phone at (800) 973-3370 or visit their website.

There is no reason to pay for a review that has been done for free.

 

Property owners should be aware that their property may be included in a review the Assessor's Office has done for 2009. The review included single-family homes and condominiums purchased between July 1, 2003 and June 30, 2008. In some particularly hard hit areas of the county, the review included properties purchased as far back as 2000. 473,000 properties were reviewed, resulting in lower assessments on 333,000 homes and condos. Please click here to see if your property has been reviewed for a decline-in-value.

All 473,000 owners whose property was included in the proactive review will be notified of the results in writing by the end of June. Owners who disagree with the results of the review or were not included in the review, may file an application through December 31. The Decline-In-Value form is simple to complete and readily available online or at one of the Assessor's District Offices. We will review the application and if a reduction is warranted, the taxable value will be reduced. Please note that there is no charge for a review. Owners are urged to wait until July to decide whether to file an application.

 

• Click here to see Public Service Announcement with Assessor Auerbach and County Supervisor Gloria Molina.
• Click here to see public service video, "Don't Get Ripped Off."
• See related news stories on KNBC Channel 4, KABC Channel 7, KCAL Channel 9 and Fox Channel 11.
• Click here to read Assessor's Op-Ed article in the Daily News.
• Click here to see if your property has been reviewed for a decline-in-value.

 

Read Also:

 

 

• Property Tax Relief for Long Beach and Los Angeles County Homeowners?  Not Without An Appraisal!
• Property Tax Reassessments in Long Beach & Southern California

 

 

 

Laurie Manny Professional Group

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

 

 

http://www.longbeachrealestatehome.com/0098DA

Property Tax Relief for Long Beach and Los Angeles County Homeowners?

Not Without An Appraisal

 

 

The Los Angeles County assessor's office on Monday announced completion of their automatic "decline-in-value" reassessments that reviewed 473,000 homes purchased between July 1, 2003 and June 30, 2008. This review resulted in 330,000 county residences qualifying for automatic reductions in their October 2009 tax bill.

Homeowners with qualifying properties will be notified of the results in writing by June 30. Those who were not reviewed can file for free with the Assessor's Office until December 31.

According to the assessor, the average reduction in assessed values for single-family residences was $126,000, for an average tax savings of $1,400 per year. Condos saw averaged reductions of $96,000, for savings of about $1,100 per year.

Just how generous the savings will be on an individual basis is hard to say. Presumably, homeowners that purchased between 2005 - 2007 will see the bulk of the savings, while others may not see as large a reduction. But with budgets on the brink throughout the State, should anyone should expect assessor largesse?

Not without your own appraisal.

Two reasons:

1. The assessor's automatic valuation used market data in 2008-pre January 1 2009 cut-off.
2. Homeowners applying for review can submit their own appraisal with sales data through March 31, 2009.  

If you've been watching the news, you know prices continued sliding into this year. So homeowners accepting their auto-assessment might not be maximizing the savings they otherwise could see.

In two recent tax-reduction cases, the homeowners handed me their reduced-assessment notices sent to them by the assessor. Both assessments were --- get this --- high by about $150,000. (Which explains why they called me to begin with.) If either case reflects at all the data the assessor's using to calculate 2009 taxes, you want to get a second opinion.

To know if you property was reviewed, click here. If your property was not reviewed, or you didn't qualify even though you bought your home between June 30, 2003 and July 1, 2008, download a copy of the Decline-in-Value Reassessment Application then call for us a consultation-it's free.

PS. You want to get your options out of the way quickly, the deadline to file an appeal with the Assessment Appeals Board is November 30.

 

Los Angeles County Tax Assessors Office

500 West Temple Street Room 286

Los Angeles, CA  90012

Rick Auerbach, Assessor

213-974-3211

assessor.lacounty.gov

 

Also see: LA Times: Property tax relief coming for more than 330,000 L.A. County homeowners

Read Also:

Property Tax Reassessments in Long Beach & Southern California

 

 

 

http://www.longbeachrealestatehome.com/009824

Long Beach Real Estate News

 

Newspapers are DEAD!          Long live the WEB!

 

 

Newspaper readership has been dying on the vine for several years now as more readers abandon print versions for news on the web.  Recent announcements by the Long Beach Press Telegram stating that the PT plans on charging for their online news version have stirred up a bit of controversy.  Yesterday the LBpost published an article wondering why anybody would pay for an online version that contained mostly articles from the Associated Press (AP), and they are right, many locals piped up and left their opinions in the comments.  

Back in February of 2007 Arthur Sulzberger, owner, chairman and publisher of the NY Times was asked in this article:

Given the constant erosion of the printed press, do you see the New York Times still being printed in five years?

 

His response:

 

"I really don't know whether we'll be printing the Times in five years, and you know what? I don't care either," he says.

 

When asked if it would be free Sulzberger commented:

 

No, Sulzberger says. If you want to read the New York Times online, you will have to pay.

Fast forward to September of 2007, just a few months later, and the Times announces that it will no longer charge for its online version siting for the reason:

The move is an acknowledgment by The Times that making Web site visitors pay for content would not bring in as much money as making it available for free and supporting it with advertising.

"We now believe by opening up all our content and unleashing what will be millions and millions of new documents, combined with phenomenal growth, that that will create a revenue stream that will more than exceed the subscription revenue," Schiller said.

If the New York Times realized that a pay to read model wasn't going to work, the Long Beach Press Telegram doesn't stand a chance!

In response to the February article I wrote an article and posted it on a large social networking site, open for comments, The article received 72 comments - some hilarious, all with very interesting viewpoints on pay for online news and the future of print news and advertising. 

 

Do you really think it is not possible to find reliable news for free? I cannot imagine anybody paying for news service or feeds five years from now, we can already access this information through feeds for free. I can only imagine the innovations in the tech world in the next five years.

 

The news industry has a long history with the real estate industry nationwide.  A huge chunk of their income has traditionally been earned from real estate and related companies and Realtors® placing ads for services and advertising clients properties. This is occurring on a vastly smaller scale currently and continuing to shrink.  One would immediately think that the reason real estate advertising and marketing revenues have dropped is because of the current state of the economy and the real estate industry.  While this would be partially correct, the real estate industry began to gravitate away from print marketing and advertising long before the current state of the economy and the industry.  The advent of the Internet and the reception and adoption by the general public/consumers is staggering. 

 

In 2006 Time Magazine's Person of the year was "YOU"!  An interesting observation from the article:

 

It's about the many wresting power from the few and helping one another for nothing and how that will not only change the world, but also change the way the world changes.

 

Before the economy and the real estate industry began its decline it was becoming painfully obvious that paper advertising and marketing were no longer having the impact or garnering the reception they had in the past, the effectiveness was waning at an incredible rate.  Business was dropping off rapidly making it an expensive and undesirable form of promoting both businesses and client listings.  Consumer contact from print media had dropped to a dribble making this an ineffective business tool and expense.  Many in the real estate industry realized that major change was in the wind, the way we marketed and advertised our business and client properties was about to undergo a major overhaul. It was time to start investigating other options and avenues.  

 

As the real estate industry began to crumble the news industry, having problems of its own, made matters worse by sensationalizing the troubles of the industry and reporting their misguided opinions as facts adding further fuel to the fire.  The real estate industry, feeling scathed by the media found themselves no longer wanting to pay to advertise in their rags and began to turn to the Internet.  So did the consumer. 

 

While it is entertaining, sensationalized news is not informative and skews real facts.  A great example of this can be found in this fantastic article involving Stephen Gandel a senior writer for Money Magazine, where he completely misguided real estate buyers into "going it alone", infuriating the real estate industry nationwide, and sending the market into an absurd tizzy for weeks.  Be sure to read the comments, they are very enlightening. The discussion regarding Mr. Gandel's faux pas continues in this article from the blog site of one of the agents he interviewed for the aforementioned article (one of Spencer's top read posts).  It's a really good read if you are interested. 

 

Dennis Miller joked about this as well. From The O'reilly Factor :

 

Used to be "All the News That's Fit to Print."

"Now it's "All the News That Fits," We Print!"

 

Maybe better stated as "All the news that's fit to twist"!

 

As a result of all of this turmoil surrounding the news industry, the real estate industry moved online as did the real estate consumer, further drying out the revenues of the news industry.  Today it is said that over 80% of all buyers are searching the web for both homes and Realtors®. The heavy traffic received on our consumer sites is a testament to this. 

 

If you are considering selling your Long Beach Home or Condo, it is imperative that your property is found on the Internet.  You will need to hire a tech savvy Long Beach Realtor® to promote, market and advertise your property.  Internet marketing is what drives traffic to your listing.  Traffic is what you need to drive offers in. 

 

We at the Laurie Manny Professional Group enjoy organic positioning at the top of the engines driving massive buyer traffic to your Long Beach and Southern California listings.  If your Long Beach home or condo is properly priced and presented, professionally marketed on the Internet and you are represented by a seasoned and well versed Long Beach Realtor®, you have best positioned yourself to sell your Long Beach home.  If you are considering selling your Long Beach home or condo contact us today to learn what we can do for you which is above and beyond what all others can and why. Or just call to find out what is going on in the Long Beach Real Estate Market, we would be happy to chat with you. 

 

Laurie Manny Professional Group

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

 

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http://www.longbeachrealestatehome.com/009813

 

Whats going on in the Long Beach Luxury Homes Market?

 

Recently I've been asked just how the million dollar plus luxury homes in Long Beach have fared in our current market downturn, so I went back and tracked all $1,000,000 plus homes sales from 2000 through 2009 through the MLS.  These figures will account for most Long Beach luxury home sales in this price range.  While there are always a few that change hands privately this is a very good representation of the trends. 

 

1/1/2000 THROUGH 5/19/2009		# SOLD	AVG SOLD PRICE	PRICE SQ. FT.	DAYS ON MARKET
2009		10	$1,447,500	$412.51	97
2008		82	$1,568,406	$546.48	101
2007		144	$1,421,877	$512.94	81
2006		152	$1,515,896	$537.17	84
2005		191	$1,672,615	$592.29	63
2004		101	$ 1,389,806	$468.11	66
2003		66	$1,550,296	$463.19	73
2002		35	$1,320,650	$378.52	81
2001		18	$1,281,000	$360.44	80
2000		17	$1,648,529	$447.48	137

97 Luxury Homes in Long Beach over $1,000,000 are for sale: 

• Average Price:  $1,794,338
• Average Price per sq. ft.:  $548.70
• Average Days on Market:  114
• 1 has been on the market for 666 days, another 440 and another 437 days.  

8 Long Beach Luxury Homes are currently in escrow:  

 

2 are accepting back-up offers:

• Average Price:  $1,272,000
• Average Price per sq. ft:  $438.92
• Average Days on Market:  154

 

6 are pending:

• Average Price:  $2,080,650
• Average Price per sq. ft:  $725.98
• Average Days on Market:  181
  

 

Absorption Rate: 

• 105 Luxury homes for sale and/or in escrow.
• 6 Long Beach Luxury homes sold in April 2009.
• 105 Luxury homes divided by average sales of 6 per month = 17.5 months for the market to absorb the existing luxury inventory.
• Absorption rate does not account for new inventory entering the market. 
  

 

Many of these homes have been on the market for a long time, have reduced their prices (in many cases several times) yet remain on the market unsold. These sellers are reducing their prices too little, too late; this is called Chasing the Market Down. 

Back in June of 2007 I published an article about "Chasing the Market Down", in February of 2008 I followed this up with another article "Chasing the Market Down - Are YOU Guilty?"  Both of these articles remain at the top of the search engines nationwide for the term Chasing the Market Down.  

If you are chasing the market down you will not sell.  There is no magic potion to net you a higher sale price.  Your home will sell for what the market will bear. 

What has actually sold this year?

Long Beach Luxury Homes - Closed Sales 1/1/2009 - 5/19/2009

#	Address	Bed	B t/f	Gar	SqFt	YBlt	Sold Price	SP/ SqFt	SP/LP	SP/OLP	Sold Date	DOM
1	6109 Costa Del Rey	3	4/3	2	2,400	1983	$1,100,000	$458.33	95.74%	95.74%	2/10/2009	4
2	166 Nieto Ave	4	4/3	2	3,660	2006	$1,250,000	$341.53	92.66%	83.61%	1/28/2009	82
3	169 Argonne	3	3/3	3	3,337	2003	$1,295,000	$388.07	92.83%	92.83%	4/27/2009	29
4	5571 E The Toledo	4	4/3	2	3,300	2009	$1,410,000	$427.27	94.06%	88.18%	5/19/2009	202
5	2401 E Ocean Blvd	6	6/5	4	5,000	2008	$2,050,000	$410.00	105.13%	52.90%	5/12/2009	269
6	5743 E CORSO DI NAPOLI	3	2/1	0	2,736	1969	$1,900,000	$694.44	79.17%	61.29%	4/30/2009	0
7	261 Granada Ave	4	3/1	2	2,312	1926	$1,225,000	$529.84	94.30%	74.26%	3/25/2009	200
8	4501-3 E Broadway Ave	5	3/3	4	3,913	1925	$1,225,000	$313.06	94.23%	94.23%	4/30/2009	49
9	295 Claremont	4	3/2	2	2,877	2006	$1,250,000	$434.48	92.59%	92.59%	4/15/2009	15
10	3749 N Elm Ave	4	6/2	3	5,550	2007	$1,770,000	$318.92	90.77%	90.77%	4/08/2009	19
Average		4		3	3,509		$1,447,500	$431.60	93.15%	82.64%		97
Number of Properties: 10
Average ( SalePrice / SqFt ) : ( 1447500 / 3509 ) = $ 412.51

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Beach Luxury Homes over $1,000,000 For Sale

Updated automatically from the MLS

 

 

Laurie Manny Professional Group

244 Redondo Avenue
Belmont Heights
Long Beach, California 90803

(562) 212-5420

 

 

http://www.longbeachrealestatehome.com/009798

Spinnaker Bay Home Sales

Market Report 2009

Includes: Closed Home and Townhouse Sales Reports for 2007 and 2008

Spinnaker Bay - Long Beach California

Luxury Waterfront Homes and Townhome Sales

 

4 Spinnaker Coves Luxury Townhomes For Sale

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

1. Waterfront Townhome overlooking Azure Bay, original but beautiful condition, 40' boat slip, 3 bdrm, 3 bath, 1,610 sq ft, HOA $509 + $109, $989,000
2. Waterfront Townhome with 25' boat slip, 4 bdrm, 4 bath, 2,068 sq ft, HOA $575 + $106, $995,000
3. Waterfront Townhome with remodeled kitchen/granite, 40' boat slip, 3 bdrm, 3 bath, 1,748 sq ft, HOA $575 + $106, $1,125,000
4. Waterfront Townhome on open water with upgraded kitchen/granite, 3 bdrm, 3 bath, 1,748 sq ft, HOA $575 + $106, $1,200,000

 

 

5 Spinnaker Bay Luxury Homes For Sale

1. Water and sunset views from this 2,032 sq ft luxury home with 30' boat slip, 3 bdrm, 3 bath, HOA $165 + $135, $1,225,000
2. Luxury Spinnaker home on the greenbelt features paved yard with spa and remodeled kitchen/granite, 2,323 sq ft, 3 bdrm, 3 bath, HOA $140 + $0
3. Upgraded Luxury home in water oriented setting, 2,265 sq ft, 3 bdrm, 3 bath, HOA $165 + $135
4. Beautiful Waterfront Spinnaker Bay Luxury home, corner home, views from most rooms, great floorplan and stylish upgrades throughout, 2,032 sq ft, 3 bdrm, 3 bath, HOA $150 + $130
5. Luxury coveted corner location on water with 33' boat slip in front, 2,323 sq ft, 3 bdrm, 3 bath, HOA $165 + $135

 

 

Spinnaker Bay Luxury Homes and Townhomes Currently For Sale - 2009

#	MLS#	Type	Address	Bed	B t/f	St	Gar	SqFt	YBlt	List Price	DOM
1	P678997	CONDO	5644 Azure Bay	3	3/2	2	2	1,610	1982	$989,000	65
2	P681706	CONDO	5524 Azure Way	4	4/2	2	2	2,068	1982	$995,000	50
3	P677310	CONDO	5538 Azure Way	3	3/2	S	2	1,748	1982	$1,125,000	77
4	P655230	CONDO	5650 Azure Bay	3	3/2	3	2	1,748	1982	$1,200,000	251
5	P673647	SFR	5540 Spinnaker Bay Dr	3	3/2	2	2	2,032	1989	$1,225,000	104
6	P648808	SFR	314 Parsons Lndg	3	3/2	2	2	2,323	1990	$1,249,000	292
7	P686966	SFR	311 Whites Lndg	3	3/2	2	2	2,265	1992	$1,279,000	3
8	S568723	SFR	347 Empire Lndg	3	3/2	2	2	2,032	1989	$1,379,000	49
9	P663283	SFR	346 Parsons Lndg	3	3/2	3	2	2,323	1990	$1,575,000	192
Average				3			2	2,017		$1,224,000	120
Number of Properties: 9
Average ( ListPrice / SqFt ) : ( 1224000 / 2017 ) = $ 606.84

 

Spinnaker Bay Luxury Waterfront Homes - Closed Sales 2009

 

#	MLS#	Type	Address	Bed	B t/f	St	Gar	SqFt	YBlt	Sold Price	SP/ SqFt	SP/LP	SP/OLP	Sold Date	DOM
1	P654866	CONDO	5542 Azure Way	3	3/2	2	2	1,748	1982	$935,000	$534.90	85.08%	79.57%	5/1	178
Average				3			2	1,748		$935,000	$534.90	85.08%	79.57%		178
Number of Properties: 1
Average ( SalePrice / SqFt ) : ( 935000 / 1748 ) = $ 534.90

Spinnaker Bay Luxury Home with 40' Boat Slip	350 Salta Verde Pt.
Buyer Represented by	Offered at $2,225,000
Laurie Manny	Sale Price $1,755,000

Spinnaker Bay Luxury Homes and Townhomes - Sales 2008

10 Spinnaker Bay Homes and 2 Spinnaker Cove Townhomes 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

Spinnaker Bay Luxury Homes and Townhomes - Sales 2007

6 Spinnaker Bay Luxury Homes and 4 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

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

(562) 212-5420

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