This is just walking distance to all downtown Restaurants,Shops,Beach,Harbor,Etc... 1/1 Loft with modern style - Polished Concrete Floors, Granite countertops, Viking Appliances, Great lighting and more Subterranean Parking in a fantastic Building. SHORT SALE at a good price Any Questions call direct Brad Butler (949) 400-6031           07/10/2008

For those of you seeking a blast this weekend, be sure to check out the city sponsored fireworks displays at either Long Beach or San Pedro. Both are great backdrops and The Queen Mary show is one of the largest on the West Coast.    For those contemplating being personally explosive (and I'm not talking flatulence) be forewarned: LBC will be actively ticketing those caught with illegal fireworks and the fines can be as much as $1000. So WATCH OUT FOR UNCLE SAM! And Have a safe and happy 4th!   06/30/2008

Recap - Last Year - A sharp correction In the 2nd half of 2007 market activity and prices fell off a cliff. (see www.LBRE.com for previous newsletters). The correction was so abrupt and dramatic, it ranked as the largest year over year price drop in California real estate history. (See Case-Shiller S&P Stats next page)But as quickly as the market dropped, it has shown signs that the worst may be over, and a bottom may be in place. At least for single family homes in some Long Beach neighborhoods. Market uncertainty and the media With the recent volatility, buyers don't know what to believe. If you listened to the media, you might conclude it was the end of the world for the real estate market. But the media these days is more about sensationalism than balanced reporting, so the average ... 06/21/2008

The constant reporting on the number of foreclosures, i.e., such as this today from Inman News:"California had the highest volume of foreclosure filings, with filings reported on 71,930 properties" is not saying what else is going on.Unfortunately, I've had less time recently to devote to writing as many posts, but in checking the local Southern California MLS today for all residential and commercial listings, including leases, there are 2,473 active listings, with 555 in escrow (backup and pending categories).Since April 1st, 564 properties have closed escrow; of that same number, in the last 30 days, 238 properties have closed escrow. Is it just because it's Spring and Summer, or is the market actually picking up. Another casual statistic overheard today is that Long Beach's inventory... 06/13/2008

There is only a 4 month supply of single family homes in Long Beach. This is Bullish. And it is in sharp contrast to last fall when I saw a 10 month supply of homes for sale. Why such a steep change? The main reason is that sales have picked up. While this increase in the number of sales is the main cause, the number of listings has also been dropping. The next chart shows the number of available SFR listings in Long Beach. In the last two months the chart shows two figures. The first if the total number of listings (currently about 1,100) but the second bar is the total number of listings after short pays have been removed (currently around 800). I believe that the 800 figure is a more accurate representation of the true number of "salable" listings, as most short pays don't get appro... 06/03/2008

Huge settlement in a legal case originally filed 10 years ago and affecting Transunion's credit reports and 160 million Americans: "The case being settled stems from a business operated by TransUnion that sliced and diced data from the Chicago-based company's massive credit files to generate customized lists of consumers. Retailers, lenders and other businesses would buy the lists to use in their marketing."  "Under the settlement, anyone who had any type of loan account between January 1987 and Wednesday would be able to select one of two options:"* A basic service would provide free credit monitoring for six months. It normally retails for $59.75, according to the settlement. Those who select this service can also apply for a cash payment."* An enhanced service would provide nine mont... 05/30/2008

Long Beach, Ca.   In these difficult times, American families are trying to save every penny possible.  Today, I read in the paper about how large Super Market companies like Kroger's and Walmart are re-packaging certain food essentials in smaller containers in an attempt to make the pain at the register more acceptable.  In other words, you may be getting the same product for the same price that you did last year in a smaller portions.  For example, instead of buying a regular gallon of milk you are getting three quarts of milk for the same price that you did last year.  Also, you may see eggs on the shelves in six packs instead of the regular dozen.  This is the result of food retailers trying to meet consumer demands.   Pinched consumers are only buying today what they need for tomor... 05/23/2008

Long Beach, Ca.  In the current economy where Americans are strangled at the pump, squeezed in the grocery market, worried about finances, and trying to save every dime possible.  It is with pleasure that I share with you how my personal family recently accrued an approximate savings of $285.00-$300.00 a month by changing our mobile phone service company. In the old days, before mobile phones, every household had at least one hard land-line phone.   Granted, if there were teenagers, an occasional second line was installed to handle the traffic.  Nevertheless, telephone service was pretty straight forward: one home+one phone=one bill.  Today in America Life, with the advent of mobile technology, mobile phones have become considered "essential."   Phones are not just for talking anymore, ... 05/23/2008

Since last December, California was named a "declining market" by FNMA ("FannieMae"), but in the spirit of its original mission under its 1938 creation under Franklin D. Roosevelt to "help those who house America", last Friday, May 16th, it removed that designation.So what does this mean for you? "The new national down payment policy will supersede the policy the company adopted in December 2007 that required higher down payments in markets where home prices are declining...", which means that once again 3% and 5% down payment conventional loan programs will be allowed in California (and other areas). For the last several months, no matter how good your credit was, a buyer couldn't get a loan unles he/she had 10% down funds of the purchase price. So if you were making an offer on a $500... 05/19/2008

In a 10-page contract, there are quite a few terms and conditions to cover with a buyer when they're writing one with the agent, or with sellers when they receive one from an interested buyer. If using a Realtor as your agent, then you should be using the standards forms with the California Association of Realtors logo imprinted at the top and which are used statewide in residential transactions (logo at right). This post won't answer all questions, by the way, your own case will be individual to your concerns and interests.Expect to take some time meeting with your agent the day you make an offer. It's pretty hard to do in five minutes (as I've had some people actually expect). You need to understand buyer contingencies; you should have already contacted a loan officer and bring a lett... 04/23/2008

 Home sales prices in the 90815 zip code of Long Beach showed some signs of stabilization in March, but remained considerably lower than they were a year ago. The 90815 zip code encompasses Los Altos, Park Estates, Artcraft Manor, the Plaza, Artcraft Manor, Bixby Hill and La Marina Estates.Currently, according to the Multiple Listing Service (MLS) there are 97 homes active on the market in 90815, ranging in price from $380K for a two-bedroom home in Artcraft Manor to $1,749,000 for a four-bedroom Bixby Hill home. The average price per square foot for current listings is $422.There are 28 homes "pending" or in escrow now in 90815, ranging from $379,900 to $1,695,000. The average price per square foot for pending sales is $379.In the past 30 days, 15 homes have closed escrow in the 90815 ... 04/18/2008

It's that time of year when the weather is warmer, and traditionally there is more market activity, so what's happening now in local area cities? How many properties are currently in escrow?For residential properties (houses, condos, townhomes, own-tour-owns, coop units) as listed in the MLS:Long Beach - 397 (March closed esrows - 165) Huntington Beach - 215 (March closed escrows - 104) Cerritos - 42 (March closed escrows - 24) Lakewood - 121 (March closed escrows - 49) Seal Beach - 33 (March closed escrows - 30) (see more city information here) . . .  Julia Huntsman, Broker Associate,All California Brokerage, INc.562-896-2609http://www.juliahuntsman.com/  04/18/2008

Toyota Grand Prix of Long BeachApril 18 - 20, 2008This weekend is the annual Toyota Grand Prix of Long Beach. The Grand Prix initially began in 1977 when Mario Andretti won that year, and it was a Formula One Race. This year will mark the 34th year of the Grand Prix of Long Beach.The streets of Long Beach are typically blocked off to create the track (which is on the streets of Long Beach). There is opportunity to attend and obtain tickets.The Pro/Celebrity Race is on Saturday, April 19, 2008 at 11:40 am.For more information about the race, visit the Toyota Grand Prix of Long Beach Website.Find more information about ticket information here. 04/18/2008

After months of steep declines, the median sales price in Long Beach went up in March 2007 for the second month in a row.To be sure, prices are still lower than their peak and the sales volume is still well below the peak, but the recent numbers are encouraging.Homeowners who have been considering selling but were discouraged should take note of this opportunity. Spring and summer are traditionally the busiest selling seasons and prices are usually highest this time of year.If you're interested in more information about prices in a specific neighborhood, email us at info@showmehome.com, logon to www.showmehome.com or call 562-961-1415. 04/11/2008

The absorption rate is how long the current inventory will remain on the market at the current rate of selling. In all price ranges shown, there are more properties currently in escrow than have closed escrow in the last 30 days. Hopefully that means that the economic stimulus package and temporary increase in loan amounts is bringing a surge in activity.Here are several different listing and selling price range categories for all properties (commercial/residential but mostly residential including large multiunits) in Long Beach listed on the MLS as of 4/9/2008:$1 million plus listing price:260 active listings; 10 sold in the last 30 days at an average of 107 days on the market; Market Absorption Rate is 26 months. But in this price range there are currently 26 in escrow (backup and pen... 04/09/2008

 Market samples:Zip code 90803 (Bluff Park, Belmont Shore, Belmont Heights, Naples) - Single family: 5 properties listed as short pay and/or pre-foreclosure, out of 109 single family listings, or 5.5% of the MLS listings are distressed. Condos: 6 properties listed as short pay/NOD (notice of default), out of a total of 55 listings, or about 11% are distressed condos.Zip code 90802 (downtown Long Beach, Alamitos Beach) - Single family: 8 properties listed in short pay and/or NOD, out of 19 houses, or 42% are distressed. Condos: 36 short pay properties, an additional 6 also as pre-foreclosure, are listed out of 278 condos, or about 15% are distressed properties. (This zip code has a higher percentage of multi-unit housing compared to other areas in Long Beach.)Zip code 90807 (California H... 04/02/2008

We hear it Every Day !!!  We seem to meet many of them - people losing their homes to the bank. Newspapers, television, magazines - all of them telling us the bad news: The economy looks grim and this is a real sad time for real estate.  Did you ever wonder what the numbers really mean?  Here are the facts:         30% of all homes in America have no mortgage - That means they are owned free and clear.         20% of all homes in America are owned by investors and are rented out.         50% of all homes in America have a mortgage.   .05% of these homes are in foreclosure !!       75% of these foreclosures are found in California, Arizona, Nevada and Texas.Wow!  If you listen to CNN, it sounds like 1 out of 2 homes are being repossessed when in actuality, 1 out of every 400 homes are in... 03/31/2008

Last year in January, February and March, there were 51 closed transactions--this year 37 closed transactions in the same time period. In this particular area, that coincides with today's article on Inman.com on the California market stating sales decreased in February by 28.5 percent (even though sales had increased for the 4th straight month). Zip code 90815 (excluding Park Estates and Bixby Hill areas) closed 37 transactions since January 1 to today's date in prices ranged from $355,000 to $715,000 for a single family home (data from the Southern California MLS)--one property reflected as a short sale (this data is only recently being reflected in the MLS). The same period last year closed 51 sales ranging from $476,000 to $930,000. See more . . .Some potential buyers are having a ti... 03/24/2008

Join Hundreds of Realtors , Loan Officers, Appraisers, Insurance Agents, Real Estate Attorneys for an exclusive networking mixer. Long lasting business relationships will be made.......... Eddy Martinez Nationwide Funding Group Team Leader / Senior Loan Consultant Office: 1-888-702-2225 x 115 Direct: 1-310-530-0917 E-Fax: 1-310-943-6551 emartinez@nationwidefgc.com 03/20/2008

Hello Rainers here is a quick update in regards to the real estate networking event and mixer that I am organizing on Saturday April 5 , 2008 at the Basement Ultra Lounge in the city of Long Beach. The Event starts at 9:35 pm.Due to limited space you will need to RSVP by April 4 2008. I look forward to meeting and networking with everybody there.  Eddy MartinezNationwide Funding GroupTeam Leader / Senior Loan ConsultantOffice: 1-888-702-2225 x 115Direct: 1-310-530-0917E-Fax: 1-310-943-6551emartinez@nationwidefgc.com 03/18/2008