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.

What is available on Naples Island?

So just where is Naples Island in Long Beach, CA? Well if you are ever visiting and you want to see a unique are than Naples in Long Beach has to be a stop for you. It is located just west of Second st as head toward Orange County. This small community is home to large homes on generally small lots. Some homes exist right on the water or even on the canal that runs through the community.

Currently there are only 23 homes available in this exclusive community and the average price of a home currently available for sale is 1.8 million. While the prices may exclude some the desireability to be there always will exist for it's location and beauty.

There are currently several homes below 1 million dollars and while they may not have the gourmet kitchens yet you can certainly add your own when you become a new owner in the area.

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/

How did May finish in Long Beach, CA for Real Estate?

You know the old saying "It doesn't matter where you start it matters where you finish."? Well that is what hopefully everyone will think by the time 2007 ends in regards to real estate in Long Beach CA. So where did things finish? Well let's take a look at the numbers and see!

All data below comes from the realtor multiple listing service that covers the Long Beach area which is the SoCalMLS. The numbers below will not include any owners that sold their homes without going onto the MLS system.

Activity for May 2007

• Number of Properties that went into a Sold status - 239
• Number of Sold last May - 374
• Number of Properties that went into a Pending status - 221
• Number of Properties that entered into a Backup Status - 90
• Number of Active Properties at the endof the Month - 1,769
• Active as of today is 1,939
• Number of Active Properties at the begining of May - 1,231

So what does this all mean? Well if you take number of properties that are currently available in means Long Beach has a 7.4 months supply of inventory. This is a great thing! Now I am not recommending all sellers in long beach ca increase the prices of their homes but it is certainly not as bad as some media outlets would lead us to believe. Now some might say well 36% fewer properties were sold in May this year as compared to last. I would say you are right! Now last year was a record year. This year isn't necessarily a bad year just not a record year. So we can read into it there are less homes being sold so make sure to price accordingly. Let's here what everyone else has to say!

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!