You know it is interesting that with all the doom and gloom surrounding the lending industry and the stock market and everything else that we tend not to look at the positives that are occuring in our very own market. I thought it would be great if we had some reasons why Long Beach real estate will be just fine in 2007. So here is our top 5 reasons why things will be ok!
Top 5 reasons in Reverse Order
- There are currently only 1,450 residential properties on the market! With over 200 sales a month this means we have just over 7 months supply of properties on the market. 6 months or under is a sellers market so I think we are doing just fine!
- The median home value in Long Beach is below the Los Angeles average of $525,000. Below the average is a good thing in this case because it means that more people will be able to afford the property!
- First time home buyer programs still work in Long Beach! There are programs that still give the buyer a free $12,500.
- You can get a condo for under $225,000! Now this alone should be the best reason. People can still get a place to live for below the national average!
- It is the cheapest city on the water in southern california. People will always want to live near or on the beach and Long Beach has the most affordable ocean views around!
I would love to hear what others have to think on why they choose to live in the City of Long Beach. Let us know as we would be glad to hear it!
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