The saying goes "All real estate is local", but nevertheless we have some national news:The National Association of Realtors has revised its 2008 median home sales price prediction to a downward fall of 8.3 percent, as opposed to an earlier 2008 prediction of a 7 percent drop in price. California Association of Realtors reports that the number of sales for October are currently 85 percent above the low from one year ago. In August, the median statewide price was $350,140, about a 40 percent decrease from one year ago. Manhattan Beach and Santa Monica were among the 10 highest median price cities in the state. Mountain View's median home price increased by 17% over last year.Locally, Los Angeles County, figures for August 2008 for single family homes show a median price of $390,000--down... 10/10/2008

 The Bixby Village area began as a new development of over 350 homes and townhomes in the 1980's. The single family homes sit along the east side of the complex have golf course views. On the interior are the townhome groupings with tree-lined greenbelts and guest parking areas, entered from the interior roadways. This area is actually one of the few townhome developments in Long Beach and is well situated adjacent to CSU Long Beach, near a major grocery chain store and shopping center, and other nearby shopping malls and movie theatres within several minutes' driving distance. The townhome floorplans may be 2 or 3 bedrooms, and range between 1700 sq. ft. to over 2300 sq. ft. and include vaulted ceilings, fireplaces, formal dining areas, larger kitchens and patios for sitting or enterta... 09/30/2008

This 5-bedroom and 3500 sq. ft. Long Beach estate home in Belmont Heights (with guest quarters) closed escrow in August and sold for $1,950,000 after being on the market for 18 days before going into escrow.What happened with other residential properties in July and August (as listed in the So Cal MLS)? In Long Beach, Cerritos, Lakewood, Seal Beach and Signal Hill, properties were on the market about 74 days before going into escrow, and sold at about 93% of their original list price:Long BeachCondos 132 sold Selling price range: $73,100 - $885,000 Selling price to original list price (SP/OLP) - 91% Average of 74 days on market (DOM) Houses - July 178 sold Selling price range: $100,000 - $2,825,000 SP/OLP - 92% Average of 70 DOM Houses - August 190 sold Selling price range: $102,000 - ... 09/22/2008

Breaking Long Beach Real Estate News: Long Beach Own Your Own (OYO) Owners Are Organizing for Condo Conversion. Back in May the Long Beach Real Estate Home Blog published an article on OYO's. So many buyers were inquiring about this form of ownership it made sense to publish an article, explaining this form of ownership, to be found on the Internet. Well it has been found, by several thousand Long Beach and potential Long Beach residents who have indeed read it, including many frustrated Long Beach OYO owners. Several days ago I was contacted by the lovely Deb Dobias, a Long Beach OYO owner who is a major contributing force in the quest to organize OYO owners to push state and local officials to loosen the reigns and convert the last of the existing Long Beach OYO's to condos. Deb went ... 09/18/2008

This Long Beach home sold two weeks after staging (after sitting for two months with no offers) and the homeowner was thrilled. 60 DOM before staging - SOLD in 14 days after staging by Moving Mountains Design. Here is her testimonial: "Michelle Minch is absolutely delightful to do business with, and a genius at what she does (STAGING!!).  My beautiful "cottage" was on the market for two months without a decent offer.  I had the greatest realtor ever and she was working the property.  And we had to keep dropping the price along with the crazy and difficult market.  But no offers!! I read an LA Times article about Michelle and her staging successes and decided I needed her help.  When I called Michelle, she responded quickly and professionally and got my home staged quickly. And two weeks... 09/15/2008

Currently there are 1,615  Active listings in Long Beach, CA. The SoCalMLS has 14 different categories called "special conditions"  which are Auction, Bankruptcy, HUD/Govt. Owned, In Foreclosure Process**, Notice of Default**, Probate, Red-Tagged**, Relocation Corporate Owned, Short-Sale/Subject to Lender Approval, Subj to REO Company Approval, Subject to Court Approval and NONE (which are regular sales). This report focuses on the REO and short Sale listings, if you would like the statistics for the other "special conditions," please let me know.                                                                                      Out of the 1,615 Active listings 957 listings were with no special condition, which means that 59% of the active listings are under the "regular sale" categor... 09/10/2008

Bay Harbour's private residential area near Alamitos Bay was developed by Warmington Homes in the 1980's. If you're looking for larger single family homes near the cool ocean breezes and great association amenities, this could be for you--plenty of opportunity for exercise with lovely greenbelts, three tennis courts, two pools and spas, and a 24-hour "guard shack" at the gated entry. Of 198 homes, seven are currently on the market (see map locations) and range in size from about 2500-3000 sq. ft., depending on the plans. These three- and four-bedroom plans in contemporary Tudor and Mediterranean architecture are open and contemporary layouts designed for gracious living and entertaining. Many features include: cathedral ceilings and crown molding, central air and heat, open family rooms... 09/04/2008

In this day an age. Only Jesus will see us through. I am posting this to give back, there is someone today that is going through a very hard trial. I am writing to encourage that one person. I am here saying that although you may being going through a very difficult situation you are not alone, God is closer than ever, though you may not see the out come He already has. God will not always take you out of your trail, but He will always walk with you through it. Chritian be content in your trials, help someone today, and see how your problem are no longer that bad. 09/04/2008

SCI Real Estate Investments and Exeter 1031 Exchange Services cordially invite you to: Tax Deferral and Replacement Property Solutionsin a 1031 Exchange Wednesday, September 17, 20089:00am - 12:00pmHoliday Inn Long Beach Airport2640 N. Lakewood Blvd.Long Beach, CA 90815 This is an intermediate level discussion on Section 1031 Tax-Deferred Exchanges. The program will include the requirements, structures, processes, strategies, and compliance issues necessary to successfully complete a 1031 exchange, including a discussion of Tenant-In-Common (TIC) investment properties as 1031 exchange replacement property solutions.  Click here to RSVP.  09/02/2008

The good news is that more buyers don't need as much annual income in order to qualify, but what about loan qualification? First of all, price drops are out there, especially with condos. If a condo is for you, this is the time to start examining your options. Right now, a qualified buyer could find a one-bedroom condominium in Belmont Heights for as low as $190,000 with dues at $252/month, and downtown prices start even lower at $75,000 for a studio with dues at $126/month. If you prefer a single family home, try a lovely 2 bedroom/1 bath home in Lakewood's Carson Park area (no REO or short pay) for $349,000. The really good news is that the qualifying income needed is also much lower than a year ago: $62,870 annual income will now buy a home selling at $329,000, so even less income w... 08/25/2008

DataQuick reported that last month's sales jumped to 2,799 houses, condos and new residences, topping the July 2007 number by 408 units. The last time O.C. home sales exceeded the year-ago pace was September 2005. The median price was $461,000 - down 28 percent in a year and the lowest median since President Bush was inaugurated for his second term. Orange County's median - or price at the midpoint of all sales - has fallen $184,000 from the all-time high of $645,000 reached in June 2007. That's equivalent to a price drop of $431 per day for the past 13 months. Agents said that kind of discounting helped break the sales slump. "Houses are becoming a little more affordable (because prices) have dropped 20 to 25 percent," said Tom Moon of Pacific Moon Real Estate in Huntington Beach, a to... 08/19/2008

1031 Exchange WorkshopIt's Not Just Another 1031 Exchange Seminar - It's a Workshop! See all of our 1031 exchange seminar programs. Intermediate Level 1031 Exchange Workshop This is an intermediate level workshop on forward, reverse and improvement (build-to-suit or construction) 1031 exchange transactions pursuant to Section 1031 of the Internal Revenue Code and Section 1.1031 of the Treasury Regulations. 1031 Exchange Workshop Content The educational workshop will begin with an introduction to various tax-deferral and tax-exclusion strategies, including combining Section 1031 with Section 121.  The discussions will focus on the requirements, structures, processes, strategies, and compliance issues necessary to successfully complete a 1031 exchange transaction.  We will finish with an ... 08/17/2008

Number 10I can't make my house payments, but I do have an ability to pay back all or part of the negative equity. Also, I want to preserve my credit score...is a short sale right for me?Probably, not. In cases where the seller can pay back all or part of the negative equity (usually to the 2nd lien holder), it makes sense for them to work out a repayment plan. The lender will then release the lien and allow the home to close. Number 9If I pay mortgage insurance and default on my loan, why wouldn't that cover the deficiency amount?The mortgage insurance is not there for your protection, just the mortgage lender's.Number 8Do I have to have my home "Approved" by the lender prior to offering it for sale as a short sale?No. Technically speaking there is no such thing as being "Short Sale App... 08/15/2008

Week ending August 10, 2008 All Active Listings on the Market - Total number of properties found: 1651 W/o Special Condition: Total number of properties found: 1,020 With Special Condition: Bank/Lender Owned (REO) Total number of properties found: 179 Short-Sale Total number of properties found: 435 Other Condition (HUD, probate, etc.): Total number of properties found: 130 If you would like foreclosure listings in specific areas, please send me an email, and I a will gladly provide you the information. *This is just for informational purposes and this writer obtained Data So Cal MLS, considered reliable but not guaranteed. <><><<><><><><><><><><><><><><><><><><><><><><><><><><><><> For a free list of Bank Owned and Government Owned Properties Visit my website: www.ReoLicensedSpecialis... 08/11/2008

  Well, there is the Queen!         Queen Mary that is!   You can enjoy all year long wonderful entertaining events at the Queen Mary--you can even get married at the Queen Mary! For more information on special events happening at the Queen Mary Go To:  Queen Mary Schedule  For more pictures of the QM click here Then there is the: The Aquarium  Visit their website: www.aquariumofpacific.org You have Golfing      all year long, there are 7 Golf Courses see them all click here!   Then there's the yearly, which is in Spring time, Long Beach Grand Prix check out their website! Education in Long Beach, one of the finest: California State University   The most diverse Beach City!   See the Census (click here!)  Long Beach Demographics (click here) Best-priced beach community.  Now you can go ... 08/01/2008

Week ending August 10, 2008 All Active Listings on the Market - Total number of properties found: 1651 W/o Special Condition: Total number of properties found: 1,020 With Special Condition: Bank/Lender Owned (REO) Total number of properties found: 179 Short-Sale Total number of properties found: 435 Other Condition (HUD, probate, etc.): Total number of properties found: 130 If you would foreclosure listings in specific areas, please send me an email, and I will gladly provide you the information. *This is just for informational purposes and this writer obtained Data So Cal MLS, considered reliable but not guaranteed. <><><<><><><><><><><><><><><><><><><><><><><><><><><><><><> For a free list of Bank Owned and Government Owned Properties Visit my website: www.ReoLicensedSpecialist.com 07/27/2008

The House of Representatives has voted, with the Senate soon to follow, giving $300 billion in assistance to FNMA and Freddie Mac. The legislation passed yesterday by the House would authorize Paulson to bail out Fannie and Freddie while placing few restrictions on them. Fannie and Freddie debt totals about $5 trillion, which would cause world-wide catastrophe if they failed, and the projected $25 billion cost to U.S. taxpayers over the next two years may not happen anyway, per the Congressional Budget Office, only a 50% chance, if you want to take comfort in that. Lawmakers said they expected the Senate to approve the measure later this week, and the White House said President George W. Bush would sign it into law. Included in this is the elimination of seller-assisted down payment pro... 07/24/2008

I posted this information last week at www.LongBeachHomeBlog.com but I wanted to make sure everyone here saw what was going on in the short sale market in Long Beach, CA. The data paints an interesting picture and would look like we haven't seen nearly all of the REO's that we are going to see. Many banks are denying short sales that were similar to ones that they were approving last year. This leads me to believe that they may choose to take these as bank owned properties instead. Original Post by Joseph Bridges at http://www.longbeachhomeblog.com/2008/07/short-sales-in-long-beach-are-266-of.html How many short sales are there in Long Beach, CA? According to the MLS that serves the area 26.6% of properties are either attempting a short sale or are about to be one. By the way that is fo... 07/21/2008

Some developments were started long before the real estate market was having issues. This projects aren't any less amazing and are worth taking a look. A project that was written about over at www.LongBeachHomeBlog is posted below.  Original Post by www.LongBeachHomeBlog. We have spoken about blu Condos, a new development in downtown Long Beach, before but I have had another chance to get inside now that some of the common areas have been finished. With some of these fine touches done I wanted to share some additional feedback on this development.I know that in general HOA amenities are just a side note, but I really thought they would be worth mentioning as they came out better than I anticipated.Lobby/Internet Cafe - This entrance is on 4th St and provides a quiet entrance. The finish... 07/21/2008

Active Listings --  Total number of properties found: 1,692 Active REO (Bank Owned Real Estate) -- Total number of properties found: 184 Relocation Company Owned -- Total number of properties found: 2 Notice of Default -- Total number of  properties found: 107  Short Sale --Total number of  properties found: 432 Subject to RELO Company approval -- Total number of properties found: 10 Subject to Court Approval -- Total number of properties found: 2 Probate -- Total number of properties found: 13 HUD/Gov't Owned -- Total number of properties found:  0 In Foreclosure -- Total number of properties found: 22 Regular sale (no special condition) -- Total number of properties found: 1,042 <><><><><><><><><><><><><><><><><><><><><><><><><><><><><><> For a free list of Bank Owned and Government O... 07/12/2008