You know when things get reported it can often seem worse than it really is. Now I know that it is all about headlines and selling newspapers but let's look at what is really going on.
Today I thought we would show what is going on in the real estate market in Long Beach with what kind of properties are really owned and being listed by the banks.
Sometimes lender owned properties are referred to as REO(Real Estate Owned), Bank Repo, or just Lender owned. For our purposes we will be calling them Lender Owned. So the facts of the Long Beach real estate market are right in front of us and they are this.
- 1,610 total properties available in Long Beach
- 206 properties in the entire city of Long Beach owned & listed by banks
- 12.79% of the market of active properties is owned by banks
- 87.21% of the market are properties that are currently owned by sellers
Am I saying that the market is completely perfect, rosy, and easy? I am not saying that. What it is though is a market that has properties that are being sold each and every month and the vast majority of properties that are on the market are not owned by banks.
In fact sellers can market the fact that their properties are NOT bank owned and this is a selling point. Make sure that prior to listing your property you have a solid marketing plan in place with your real estate professional.
We in fact offer our clients an 81 point marketing plan. If you want to see what is available in your area use our FREE MLS or fill out the form to the right in the blog and you will have your very own market snapshot of what is happening in your exact neighborhood.
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