kaulat

That's down 3% just between September and October! Wow. And the result? A greed-driven divergence between List vs. Sold price per square foot. That's what happens when all but the dumbest, most delusional sellers take their ball and go home and wait for the market to "return to normal." Current sellers know there's no quality inventory out there and it makes them cocky and emboldened. As we enter the winter months we'll see if that approach pays off.

Address: 2501 TEMPLE Ave #205, Signal Hill, CA 90755 Wishing Price: $379,000 Beds: 2 Baths: 2 Sq. Ft.: 1,179 $/Sq. Ft.: $321 Year Built: 1983 Community: Signal Hill MLS#: 10-441365 On Redfin: 30 days HOA: ? Down Payment: $76,000/$15,000 (FHA) Income Requirement: $87,000 Monthly Nut: $2,300/$2,700 (FHA) Description: Elegant condo in prime location. Home boasts laminate wood flooring, central air & heat, washer & dryer, big beautiful fireplace, and a large balcony with view of the mountains. Separate shoots [SIC] for trash and recyclables. Residents enjoy a pool, jacuzzi, clubhouse, BBQ area, tennis court, and a serene courtyard area with a gazebo. HOA dues include basic cable. View this home now before it is sold! The first sentence of the description, which only contains five words, features two bald-faced lies! This condo is "elegant"? Really? And this is a "prime" location? Naples is a prime location, Signal Hill is a crime location. Second of all, how are...

I was up in Signal Hill last week for a group walk. Not only was it great exercise, but the views were absolutely astounding. I haven't been up there for a really long time and it reminded me how beautiful Long Beach at night can be. On our route up, down, and around the hill, I realized just how out of control the development of SH was during the bubble. Good Lord! Practically every square inch of land was covered by a hulking McMansion! However, there were some GORGEOUS houses up there in the gated areas. It kind of reminded me of areas in South OC like Aliso Viejo or San Juan Capistrano, actually. The nice aspects of suburbia like the little parks and playgrounds for the kiddies, newly paved streets, and clean-looking new construction. And the negative aspects like houses so close to each other that you can flush your neighbor's toilet from your bedroom (one development sported "houses" with shared driveways and a common wall running from the garages through the en...

From RealtyTrac.com, here are some recent Long Beach foreclosure numbers (starting with the most distressed): 90802: 569 90813: 525 90810: 472 90806: 439 90804: 373 90815: 180 90803: 132 90814: 95 As you can see, downtown is getting absolutely inundated with foreclosures. Not surprisingly, downtown and the shadier areas of LB are experiencing a much larger influx of bank-owned properties and the resultant downward pressure on prices. Better neighborhoods (Naples, Belmont Shore, Belmont Heights) are faring MUCH better on the foreclosure front, which explains the stickiness of prices there. And yes, there will be added pressure in 90803 and 90814 during the next few years as "Classy-People Loans" implode. However, don't get your hopes up for $150 per square foot in The Shore. The Alt-A/Option ARM disaster will take YEARS to play out and we've already seen how skilled banks are at delaying REOs from hitting the market and how the .gov encourages banks to mark these troub...

Address: 2155 Ridgeview Terrace Dr, 90755 Asking Price: $1,050,000 Year Built: 2003 Size: 4 beds, 4 baths, 3,322 sq. ft. $/Sq. Ft.: $316 HOA Fee: $96 Purchase price: $1,350,000 (ouch!) Purchase date: 7/2007 MLS#: P672245 On Redfin: 135 days Down Payment: $210,000 (at a minimum) Monthly Payment: $6,700 Income Requirement: $300,000 Description: This is a spectacular executive home in a private, secluded and secure gated community on the upper East Side of Signal Hill. Soaring ceilings throughout the home. Unique, split level floor plan with a massive upper level master suite. Stunning Easterly views from Los Angeles to Anaheim and Newport! Many, many upgrades including huge gourmet kitchen with granite counters and center island and stainless appliances. The upper level features a living room with fireplace, dining area and 2 private patios which have gorgeous views to the East. Hardwood floors and high quality carpeted floors can be found throughout. The lower level features 3 more bedr...

Sometimes I think the number of realtors who read this blog is larger than expected: May 14, 2009 - Price Changed $269,500 "JUST REDUCED ANOTHER $20,000 to $269,500!" Sadly, it's too little, too late. There needed to be a "1" in front of that $20,000 price reduction for this thing to have a reasonable shot at selling.

Address: 1629 Cherry Ave #308, 90813 Asking Price: $289,500 Year Built: 1988 Size: 2 beds, 2 baths, 849 sq. ft. $/Sq. Ft.: $341 HOA fee: $213 Purchase price: $195,000 Purchase date: 5/2004 MLS#: P561937 On Redfin: 812 days Down Payment: $60,000 Monthly Payment: $1,700 Income Requirement: $82,000 Description: JUST REDUCED $10,000 to $289,500 AGAIN! Top Floor Penthouse-Unique & Custom Designed w/Gorgeous City,Sunset & Partial Ocean Views! No Common Walls & Too Many Upgrades to Mention-Must See! Vaulted Ceiling in LR w/Bamboo Flooring, Crown Molding, Plantation Shutters, Recessed Lighting & French Doors to Slate Tiled Patio. Custom Kitchen w/Granite Counters, Travertine Floor, New Maple Cabinets & New Appliances. Master Suite, Laundry Area w/Washer & Dryer(Included), Central Air Conditioning/Forced Air Heat & Ceiling Fan. Gated Complex w/2 Parking Spaces. "Gated Complex w/2 Parking Spaces." In this 'hood, you're going to need 'em. This pr...