Belmont Shore & Naples Report for April 2008

So the other day we made sure to let you know what was going on in Belmont Heights and Alamitos Beach. Today we thought we would take that look backward and see what is happening in Belmont Shore & Naples.

So let's see what we have in Belmont Heights and Naples as far as inventory and what has happened.

• Active Properties Available - 83 wonderful properties to choose from
• Total Properties in Escrow - 12 ( 5 in Pending, 7 in Backup)
• Properties Expired - 7

This shows again that the markets close to the water continue to have sufficient buyer demand for the sellers that want to sell. There is a total of 6.9 months of inventory available and this isn't much at all to choose from.

If you look further at the price ranges in this area of Long Beach you see the following of what is available on the market:

• Average Price: $1,434,375
• Max Price : $5,000,000
• Most Affordable In the area $399,900

So the high rent district so to speak of Long Beach hasn't been much affected by the overall real estate market. This is something worth watching and looking into if you desire a home in this area. Go ahead and check out the what is available on the MLS by clicking on the icon to the right.

Belmont Shore Stays at 2 Stories

Belmont Shore, the coveted beach community next to Naples Island has had quite a bit of discussion regarding zoning this past week. The City Council, along with the Planning Department, put in a temporary ordinance that will maintain a building height limit of 2 stories or 25 feet.

With many people desiring to upgrade homes in this beach community this ordinance has some far reaching effects. The traditional homes in this area were built in the 1940's and 1950's so many are single story spanish style or traditional homes. As these homes may not always meet the goals of today's beach buyer it certainly is important that the building codes support modern upgrades and still take into account important features like adequate parking.

Unlike areas like Manhattan Beach, Long Beach still has allowed roof top decks which gives a nice way to enjoy the weather and feel like you almost have a 3rd story. If you are interested in renovating your home in Belmont Shore make sure you check with the Planning Department so you can be sure to comply with the latest building codes.

Walk for Life Helps Everyone

If you didn't know the Avon Breast Cancer Foundation is having their annual walk that starts in Long Beach this weekend now you know! This is a great cause and everyone was already walking early this morning. It is a great group of people who are raising money for breast cancer.

So if you are down near the queen mary or you are near downtown long beach this weekend you might want to take a moment to cheer them on. They are covering 39 miles so they will be they will walk through Belmont Heights and Belmont Shore so please cheer this great walkers on!

If you want more information on this great event please check out Avon Walk.

Belmont Shore Real Estate Sales for August 2007

If you live near the water in Long Beach you may live in the communities of Belmont Shore, Naples, or Belmont Heights. These communities feature homes and condos of all shapes and sizes. But that isn't what this post is about. This post is all about the numbers and what has been happening in those areas. So let's take a look at sals figures for August!

All stats were taken from the SoCalMLS system which covers the Long Beach area. If a property was sold without going through the MLS it will not be reflected in these figures.

August 2007 for Belmont Heights, Belmont Shore, & Naples

1. New Listings - 59
2. Total Active Listings at the end of the Month of August - 212
3. In Escrow Properties - 15 (9 Pending, 6 Backup)
4. Closed Sales - 10

So what does this all mean? Well it means that things are still selling near the water. In fact buyers have some great choices. Now if you think you will be getting an ocean front home for $200,000 I am sorry to dissappoint but sellers have shown flexibility with buyers who want to buy their homes and aren't just fishing for an offer.

Fun in Belmont Shore at Annual Car Show

The 18th annual Belmont Shore Car show will be held on Sunday, September 9th. The already popular 2nd St, gets even more popular this day as many classic cars line the streets for everyone to view. It is estimated that it will display about 650 classic automobiles. You will be able to see some wonderful classic cars as all cars must have a model date prior to 1975.

These kind of activities bring people from all over Long Beach and other cities so they can experience some of what Belmont Shore has to offer. Belmont Shore offers some large homes just blocks from the beach as well as a few Long Beach condo complexes where you can enjoy the cool Ocean Breeze. The island of Naples is right next door to Belmont Shore providing many wonderful homes that can have canal access or powerful Ocean Views.

If you are interested in getting your car into the show, it is pretty affordable at $25 for pre-registration or $30 at teh show. Visit the car club's website at http://www.baycityrodders.com/

Belmont Shore Real Estate - Any buyers available?

You know right now if you own belmont shore real estate and you need to sell you are in for an interesting ride. Now let me be very clear. One can always sell real estate it just depends on what price you are willing to take for your property that decides on how many days your property is going to stay on the market. So what is happening in Belmont Shore in Long Beach, CA. Well let's look at the numbers and see what they say! All of the numbers below come from the realtor MLS that serves the area which is SoCalMLS.

As of Today 05/30/2007

• Total Active properties in Long Beach: 1,894
• Total Active in Belmont Shore: 91 - 4.8% of the properties available in Long Beach
• Total New Listings in May in Belmont Shore: 30
• Total New Listings that went into Escrow (Pending or Backup) -2
• Months Supply (Active in area\Amount into escrow) - 45.5 months!

Now I can see what is going to happen. I am going to get some hate e-mail on saying that there is 45 months of inventory in Belmont Shore. Now the area I am using in the MLS also includes Belmont Park and Naples. So in fairness these numbers come from these three areas that are very close to each other. These areas also have many high end properties in excess of 1 million dollars. These homes tend to average longer days on market. So I don't think that there is really 45 months worth of inventory. I would tell the high end buyer that they have a few choices out there. 1 million doesn't buy what it used to but it buys quite a bit.

So what does this all mean. It means that as interest rates continue to increase it is not as easy as it used to be to afford that executive home. So take caution with your pricing high end luxury seller. And to the buyers of these homes we say enjoy the selection but don't expect to get a 1 million dollar home with the ocean view for 50 cents on the dollar!