Today I was calling to check availability on homes for one of my buyers and I ran into a number of homes that are just going into escrow with multiple offers after months of sitting on the market. The market is definitely heating up.

What buyers apparently know is that it’s a great time to buy a Long Beach home! Home prices are now at about 2002 levels, but the monthly cost of a home is far less.

Consider this:

Top 5 Reasons to Buy a Home NOW:

1. House Price and Interest Costs are two separate calculations. House prices are at their lowest level for 10 years. Interest costs are at a 50 year low.
2. If you are waiting for prices to drop, any price savings may be wiped out by interest costs when rates go up.
3. Some experts predict 4.5% rent inflation for 2012 and beyond. At this rate, rent could double in 16 years. If you lock yourself into a 30 year fixed rate house payment today, you are protecting yourself from “rent inflation.”
4. You will build equity faster if you buy today. Why? Because a larger percentage of your monthly payment is going to principal. When rates go up, the exact opposite occurs… more of your payment goes to interest.
5. Home prices are still on sale. All of the price gains “the bubble” made between 2003 and 2009 are gone. Home prices in most local neighborhoods are back to levels not seen since 2002.

Bottom line: This may be the best opportunity to stop paying your landlord’s mortgage and buy your own home. If you’d like to discuss your options, please contact us today at 562-896-2456 or Info@ShowMeHome.com

Thanks for stopping by our website. Take a look at our February E-Newsletter. Let us know if there’s anything we can do to help with your real estate needs.

Keller Williams Realty
http://www.showmehome.com

Long Beach Real Estate Market Update – February 2012 Long Beach home sales and sales prices were both down a little in January 2012 when compared to the same month last year. In January 2012, 129 Long Beach single family homes closed escrow, ranging in price from $89,900 to $2,199,000. The average sales price was $374,762 and the average days on market was 96, according to the Multiple Listing Service (MLS). In comparison, there were 144 Long Beach houses that sold in January 2011, with an average sales price of $395,851 and average days on the market of 97 days. Here’s that the current inventory looks like: Currently, there are 565 single family homes listed for sale in Long Beach, ranging in price from $85,000 to $9,495,000. The average list price is $554,753 and the average time on the market is 104 days. Additionally, there are 469 Long Beach houses that are in “backup” or “pending” status, ranging in price from $70,000 to $1,995,000. If you’re interested in finding out the value of your Long Beach home in today’s market, visit our website at www.ShowMeHome.com and request a Market Snapshot. Or give us a call at 562-896-2456. (more…)  Thinking of Selling Your Home? It Ought To Be in Pictures! If you’re thinking of selling your home and trying to choose an agent, there are a number of factors to consider. Track record, experience, and communication skills are important. But so is the agent’s marketing plan and the quality of their marketing – particularly the photos. Most home buyers begin their home search on the Internet and the first exposure they will probably have to your home are the pictures that the agent provides to the Multiple Listing Service (MLS). It’s very important that there be lots of pictures — and that the pictures are of good quality. In the age of digital cameras, some agents will still enter listings into the MLS without any photos, indicating that photos will be coming later. What that means is that for many buyers, the first exposure to the home is without any photos. Many home buyers won’t even consider your home if there are no photos. The buyers assume there are no photos because the house is ugly. Sometimes there are very few photos. Again, buyers assume that’s because the house doesn’t have any features worth showing. If you’re interviewing agents, ask them who will be taking photos of your home and how many photos there will be. More is better. Quality also matters. Look at the photos the agent uses in their printed marketing (flyers and postcards) as well as the MLS. Is this the way you want your home to presented? (more…) Introducing New Market Insider Reports! Get Stats & Info, Compare Areas If you’re wondering about home price trends in Long Beach or surrounding neighborhoods, we’ve got exciting news for you. Our Market Insider report will provide information on real estate trends as well as school reports, crime statistics, and more. Market Insider is a FREE report that gives you valuable, customized, and up-to-date information on real estate trends in your local community. Whether you’re buying or selling a home, you’ll have access to the data you need to make informed decisions in this ever-changing market. Visit www.LongBeachHomeSpot.com (click the headline above) and create a customized Market Insider report on the areas you care about most, and then sign up to receive free monthly updates. Market Insider provides home listing and sale prices, community demographics, school ratings, side-by-side neighborhood comparisons, and more! Whether you are looking to sell and want local market data, or are thinking about buying and want to explore different homes and neighborhoods, here is a great resource for you! It will also allow you to compare one neighborhood with another. Wondering how to interpret the data or want more information, feel free to call us at 562-896-2456 or email Info@ShowMeHome.com (more…)		Shannon Jones Real Estate Consultant, DRE License #01247705 10900 Los Alamitos Blvd. Suite 160 Los Alamitos, CA 90720 562-896-2456 (Office) 562-335-1965 (Cell) CONTACT BY EMAIL
Each office is independently owned and operated. Information is deemed reliable but not guaranteed. ©2010 – 2012 Imprev, Inc.

Usually the real estate market starts off a little slow, kicking off after Super Bowl Sunday. Don’t ask me why that is because I’ve never understood the connection between football and real estate. However, a seasoned Realtor told me that early in my career and I’ve found it to be the case.

This year, the real estate market in Long Beach seemed to be off to an especially slow start. Both home sales and sales prices were both down a little in January 2012 when compared to the same month last year.

In January 2012, 129 Long Beach single family homes closed escrow, ranging in price from $89,900 to $2,199,000. The average sales price was $374,762 and the average days on market was 96, according to the Multiple Listing Service (MLS).

In comparison, there were 144 Long Beach houses that sold in January 2011, with an average sales price of $395,851 and average days on the market of 97 days.

Here’s that the current inventory looks like:

Currently, there are 565 single family homes listed for sale in Long Beach, ranging in price from $85,000 to $9,495,000. The average list price is $554,753 and the average time on the market is 104 days.

Additionally, there are 469 Long Beach houses that are in “backup” or “pending” status, ranging in price from $70,000 to $1,995,000.

If you’re interested in finding out the value of your Long Beach home in today’s market, we’d be happy to provide you with a customized Market Analysis – or you can request a Market Snapshot on our website for a fast look at market trends.

Interested in finding a great deal? Check out the Home Search feature on our website. If you save your search and request automatic updates, you’ll receive emails with every new listing that matches your specific criteria.

Last weekend I met with a woman who was trying to decide what to do with a Long Beach home. Her uncle just passed away and as the trustee and executor, it’s her job to take care of the estate. Unfortunately, the primary asset is a home with no equity.

The mortgage is current right now, and we discussed her options. She wondered whether she should attempt a short sale of the Long Beach home or simply walk away from the mortgage. What about other options?

Certainly, the woman I met with this weekend is not alone. As the current housing market drags on, many homeowners find themselves in this position. They want to sell or move, but they don’t have equity. Nationally, almost 11 million homes are now underwater, according to financial information provider CoreLogic. About 3.5 million homeowners are behind on their payments and about 1.5 homes are in the foreclosure process, according to RealtyTrac. The New York Federal Reserve estimates that 3.6 million foreclosures will take place over the next couple years.

Ultimately for the woman I met with last weekend, walking away from her Long Beach home (sometimes known as “strategic default”) probably does make the most sense. She came to that decision after we’d discussed all the options and considered her circumstances. But for other homeowners, a short sale or bankruptcy make more sense. Factors to consider are your credit, your equity position, your other debts, whether you are current or delinquent on the mortgage, and what your future plans are.

Many owners feel a moral obligation to continue paying their mortgage and I’ve met with homeowners who have drained their financial resources to continue doing so. I met a couple last year who had maxed out their credit cards and taken out personal loans just so they could continue paying their mortgage. Finally, when they had exhausted every resource and couldn’t even keep the utilities on, they decided to ask for help.

Asking for help can take on several forms. www.MakingHomeAffordable.gov is a great government resource on loan modification programs, home affordable refinancing programs and other alternatives. We are happy to help homeowners explore options and we offer free E-books on Fighting Foreclosure and Real Estate Short Sales. We also recommend consulting an attorney or accountant as well.

For some Long Beach homeowners, doing a short sale can be preferable to simply walking away. The benefits can include less impact to credit score and a shorter time period before lenders will again extend credit. We helped one couple with two Long Beach short sales about a year ago and were surpsied to hear that their credit scores actually went UP after the short sales, perhaps because the debt was no longer appearing and they sold both homes while remaining current on their mortgages.

Other options to foreclosure or short sale include bankruptcy or deed in lieu of foreclosure.

If you have negative equity in your Long Beach home  or are having trouble paying the mortgage, please give us a call. We’d be happy to help you explore your options. We’ve worked with lots of homeowners in your situation.  I have gone through training to become a Pre-Foreclosure Specialist (PSC) and Certified Distressed Property Expert (CDPE) as well as Certified HAFA Listing Agent Specialist (CHLAS).

By participating in a HAFA short sale, homeowners become eligible for $3,000 in relocation assistance.

One thing to keep in mind is that time is of the essence. When a lender forecloses on a home or approves a short sale, their loss becomes your “gain” and is considered income. The Mortgage Debt Relief Act of 2007 provided tax relief for many homeowners, but unless it is extended those protections are good only through the end of the year. In the world of short sales and foreclosures, that isn’t really very much time.

Earlier this month, we had some past clients who lost their Long Beach home to foreclosure. It was devastating for them and disappointing for us as well. We have helped dozens of Long Beach homeowners avoid foreclosure through short sales and we wanted to help them too.

Unfortunately, it was too late. They waited too long to explore options other than foreclosure and the lender wouldn’t postpone the scheduled trustee sale.

If you are behind on mortgage payments for your Long Beach home and don’t know what to do, I strongly encourage you to explore your options sooner rather than waiting! It’s possible you may qualify for a loan modification (or even forbearance if you’ve lost your job) or a short sale.

Real Estate Short Sales E-Book

The longer you wait, the more limited your options may be. Some banks require that either a modification or short sale application be submitted at least 15 days prior to a scheduled trustee sale. Others require that you submit an application at least 30 days prior to the sale date.

If you would like more information about doing a short sale or loan modification of the mortgage on your Long Beach area home, please call or email us today! We’re happy to help you explore your options!

 Wondering why a bank would consider a short sale or how it works? We can also provide you with a free copy of E-book, “The Home Owners Guide to Real Estate Short Sales.” I am certified as a CDPE (Certified Distressed Property Expert), PSC (Pre-Foreclosure Specialist) and CHLAS (Certified HAFA Listing Agent Specialist).

PENDING! Beautifully remodeled Belmont Heights bungalow with a rental in the back. The front home successfully blends vintage features with modern updates. It has two bedrooms, a spacious living room with gas fireplace, and a separate dining area. The dining area  opens to a gorgeous remodeled kitchen featuring soapstone counters,  custom cabinetry and high-end finishes. The large bathroom has a tub and separate tiled shower.  Both bedrooms have large closets and ceiling fans. The home has hardwood floors throughout, updated electrical and plumbing systems, along with forced air heating and a three-zone air conditioner.  The back yard has a large covered deck and nice grassy area.  There is a separate studio rental unit above the garages. The studio has wood floors, a large walk-in closet and an outdoor deck. There is a two car garage, and an additional flagstoned parking area beside the garage. This great property is walking distance to shops, restaurants and the beach.

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OPEN HOUSE Sunday 2/26  1pm-4pm  Terrific 4 bedroom home on one of the nicest interior streets in El Dorado Park Estates. The spacious living room has a fireplace and the eat-in kitchen has lots of cabinets, tiled counters and built-in appliances. Both bathrooms have been updated. This home features central heat, an attached two car garage, and inside laundry room.
The back yard has a large patio and mature landscaping, including an orange tree. The front yard features sprinklers and new sod. With a little cosmetic updating, this home will sparkle!

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OPEN HOUSE Sunday 2/26 1-4pm! Beautiful 3 bedroom home in the Meritage area of Coto de Caza, with a detached casita that could be used as a fourth bedroom, home office or bonus room.  You’ll love the dramatic two-story entryway with a curving staircase, the spacious living room with a vaulted ceiling and gas fireplace, and the family room with French doors leading to a covered back patio with a built-in BBQ. The flowing, open floor plan and the sunken, wrap-around wet bar are great for entertaining.  The eat-in kitchen features a large center island, granite counters, double oven and a built-in wine cooler.  There is also a formal dining room downstairs, as well as a bedroom with a 3/4 bath and a separate laundry room.  Upstairs, the luxurious master suite features a huge walk-in closet, private balcony, gas fireplace, and master bath with separate tub and shower.  The other upstairs bedroom has an en-suite bath and a private balcony.  There’s also an upstairs loft area.

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PENDING! Large 3 bedroom/2 bath Lakewood Village pool home with great curb appeal. Downstairs, there are three bedrooms and two bathrooms plus an open living area. The living area has vaulted ceilings, a brick fireplace, travertine floors and a bar/seating area that opens to the kitchen. The kitchen has granite counters, high ceilings, and built-in appliances. Additionally, there’s an upstairs loft area that’s perfect for a home office or play area. It has an attached half bath. The back yard features a swimming pool and there’s a bonus pool house attached to the garage.

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Property Photos

PENDING! Looking for a spacious two story home? There’s lots of room in this three bedroom, 2 3/4 bath home in the Wrigley area of Long Beach. Huge living room, separate family room with brick fireplace, and large kitchen with eating area. There’s one downstairs bedroom and bath, plus two upstairs bedrooms and baths. The master suite has two closets — one walk-in — and a huge master bathroom. Home needs some cosmetic work but has a great floor plan. The back patio has a built-in spa that just needs a new motor. In addition to a long driveway, there’s a two car garage with bonus room. Garage will need some work by buyer to comply with city requirements.

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