Although the media continues to be grim on the housing market there are certainly some pockets of Hot activity here in Long Beach and nearby. I am certainly not saying that the entire real estate market is in good shape, but there is quite a bit of competition here in Long Beach depending on what you are looking for.
Where is the action the hottest? Let's take a look:
- Homes in Lakewood - Looking for a home in Lakewood under $350,000 that is over 900 sq ft is a challenge. When homes are listed in this price range they will generally receive 2-6 offers within the first week of listing. Condition of the home can range from not s nice, to some mild upgrades.
- Condos under $180,000 - Yes, they do exist and there are some nice ones too! Condos in this price range are generally not much more than local rents so they get quite a bit of attention from buyers who missed out since 2004. Generally these will be 1 bedroom properties but you can find 2 bedroom, 2 bathroom units under $200,000 if you look hard in some nice buildings. They tend to get an offer or two within the first 10 days of being listed.
- New Condos under $350,000 - The builders that have adjusted their prices to amounts less than $350,000 are getting their choice of buyers. Some of the builders have been smart and instead of offering heavy incentives have been cutting prices and putting together loans that have low fixed rates for 30 years.
Despite the "wait and see" attitude that the media has these sectors are certainly hot. All cash offers are certainly getting some discount, but often just helping get the win on an already popular property. Keeping a close watch on the property that you want using the Long Beach MLS or our Hot List is a great way to get a deal on the Long Beach real estate you have been waiting for.
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