How much is your home worth in today’s market?

Looking to sell, but not sure what your property is worth? Maybe you are just wondering what competing properties are being marketed at?

The keys to establishing what your house is worth are the asking price of local comparable properties and the prices achieved for recent sales. The Rightmove Price Comparison tool brings together Rightmove, Land Registry and Registers of Scotland current and historic prices in one place.

Simply enter your property details here and we will provide you similar properties to help you compare prices.

Long Beach Local Market Update for June 2016

Villa Riviera, 800 E Ocean Blvd, Long Beach, CA 90802

According to PWR (Pacific West Association of Realtors), which cover southern california, halfway through 2016, residential real estate markets are performing as predicted at the beginning of the year. Sales and prices have been going up in most areas, while the number of homes for sale and total month's' supply of inventory have been going down. Meanwhile, many sellers have been getting a higher percentage of their asking price, and supply continues to struggle to meet demand. The message may be repetitive, but it is largely positive.

New Listings were down 5.5 percent for Single Family homes but increased 1.7 percent for Townhouse-Condo properties. Pending Sales decreased 50.2 percent for Single Family homes and 44.5 percent for Townhouse-Condo properties. 

The Median Sales Price was up 4.9 percent to $645,000 for Single Family homes and 5.2 percent to $405,000 for Townhouse-Condo properties. Months Supply of Inventory increased 5.9 percent for Single Family units and 10.7 percent for Townhouse-Condo units. 

The national unemployment rate recently dropped 0.3 percent to 4.7 percent, but some states felt more of a pinch in their own figures. Similarly, the low inventory situation is showing signs of strain in markets where there are few homes for purchase. With an interest rate increase still in the cards this year, combined with the American political landscape and global economic events, a cooldown could occur by winter. Presently, however, summery growth prevails as many locales are reaching near-record prices not seen in more than a decade. Please See Long Beach Local Market Update for June 2016 .  As you see, Single family, number of listing dropped 14% & Ave. sale price dropped 2.4%. Condo ? Townhomes, number of listing  dropped 6% and Ave. sale price increase 2%. This is comparing June 2015 to June 2016. 

90802 – Long Beach March 2016 Market report

90802 Local Market Update for March 2016, If you are living at 90802 area you gotta see this report.Days on Market Until Sale 107 days on 2016  vs 27 days in 2015. Yes, taking longer to sale due to many factors. But 2016 will be great year , all numbers are improving such as property prices appreciation. Interest rate still is low around 4% APR and FHA 3% down payment again available.  Affordability index is around 34%. See the report please.

February 2016 Real estate Update

According to CARMLS, The primary story, both nationally and in local submarkets, is a dwindling One-Year Change in months' supply of inventory. The cure, of course, is more inventory. But new construction has been lagging during this opportune moment, and sellers of existing homes are not yet hitting the market in droves. The heart of the selling season has yet to begin, so we're still optimistically watching for an increase in activity in the coming months. 

New Listings were up 2.3 percent for Single Family homes and 3.2 percent for Townhouse-Condo properties. Pending Sales increased 12.6 percent for Single Family homes and 6.3 percent for Townhouse-Condo properties. 

The Median Sales Price was up 5.3 percent to $595,000 for Single Family homes and 9.0 percent to $398,000 for Townhouse-Condo properties. Months Supply of Inventory decreased 29.0 percent for Single Family units and 32.1 percent for Townhouse-Condo units. National housing starts were up by 10.8 percent at the end of 2015 when compared to 2014, and the unemployment rate is holding low and steady at or near 4.9 percent. Meanwhile, mortgage rates continue to astound below 4.0 percent and we have witnessed an unprecedented 70 consecutive months of private-sector job growth. As consumers navigate their options, competition for the best available properties should be profound, especially if the market remains hobbled by a lack of supply. See full Report here. 

Inventory - 21.6% lower than last year this time, but One year change in close sale is 8% higher and One year median sale price is 6% higher. Clearly, seller are not selling and holding the low interest rate mortgage.  And, they are betting on future higher home prices. 

4 SIGNS A PROPERTY IS WORTH BUYING AND RENTING OUT By: Beth Braverman

view from historic Wilmore building at Long Beach, CA by :amir Zee

4 SIGNS A PROPERTY IS WORTH BUYING AND RENTING OUT

By: Beth Braverman

Do you have fantasies of becoming a landlord? That is, do you dream that one day, you’ll purchase a promising piece of property, move in some reliable tenants, then kick back and collect rent well into retirement?

If you’ve got the cash and ambition to follow through, there are plenty of condos, homes, and buildings you could buy and rent out—but pinpointing the right one is tough. Don’t give up the dream! Insiders insist there are a few ways to separate the cash cows from the turkeys. Here are some signs a rental property is primed to gush big bucks.

It makes money for you immediately
While many mistakenly size up an investment property by the amount of money it could eventually make them later—once they’ve made a ton of renovations—that’s exactly the wrong approach. As the saying goes in real estate, you should “Make your profit when you buy.” That means: Your income (in the form of rent checks) should cover your costs upfront.

Financial planner and real estate investor Jim Ludwick at MainStreet Financial Planning recommends looking for properties that will generate enough rent in 10 months to cover all costs, including mortgage payments, taxes, and insurance. Another popular rule of thumb is the “2% rule,” which holds that your monthly rent should be at least 2% of the total purchase price of a property. Look at comparable rental listings online to get a sense of what you could reasonably charge for rent. Then, try punching in your numbers, from your rent to mortgage to maintenance costs, into an online investment calculator, to see if you end up in the black.

A dwindling DOM
DOM stands for days on market—how long a property has been for sale. And if the DOM is plummeting across the board in a neighborhood, that’s a key harbinger that this particular housing market is heating up. And since this typically precedes price hikes, that means you can still score a deal on a property that could make you beaucoup bucks in rent (and if you resell down the road).

Another set of listings to check? Rentals in the area. If landlords are offering concessions to tenants, such as a free month of rent or a lower security deposit, those are signs that they’re having a hard time filling apartments, so you may want to steer clear.

Gourmet groceries nearby
Scouts for Whole Foods, Starbucks, and other high-end chains get paid a lot of money to research the up-and-coming neighborhoods with residents (aka your future tenants) who have the disposable income to support their stores. So, if you can buy heirloom tomatoes and a pour-over coffee in a five-block stretch, things are looking good. The presence of Trader Joe’s, Whole Foods, and Starbucks, in particular, bode well for real estate desirability.

“You can’t just look at the numbers,” ways Justin Cohen, chief marketing officer of Pangea Properties, a Chicago-based real estate investment and management company. “You’ve got to really look at the neighborhood and understand what’s happening there.” Get a sense of what type of tenant the neighborhood and property would attract. A property in a college town, for example, might have a high turnover, while one near a desirable elementary school (get stats at GreatSchools.org) might tend to draw families that want to put down roots for years.

And since many millennials favor “walkable” neighborhoods, areas near public transportation are bound to be a good bet. And we’re not just talking about buses and subways in urban jungles; transportation matters in the suburbs and small towns too, although in a different way: Look for towns near (but not right next to) major turnpikes or highways.

A squeaky-clean tenant
If you’re inheriting tenants with the property you’re considering, don’t just trust that current landlord’s word that they “always pay on time.” Run a background check and a credit check (it’s worth paying for a service such as TransUnion SmartMove to do one for you) on any current or potential tenants to see if there are credit issues or a history of evictions, and ask to see pay stubs or a 1099 to show the tenant has the enough income to cover the cost of living there.

And if the tenant has a less than stellar payment history? There actually is a way to turn this into an opportunity to negotiate a lower price for the property, factoring in the cost (and hassle) of a potential eviction. “Whether you keep the tenant or not, by buying someone else’s problem, you’ve gained some equity,” says Jorge Newbery, a real estate investor and the founder and CEO of American Homeowner Preservation.

8 THINGS TO DO RIGHT AFTER YOU MOVE IN

8 THINGS TO DO RIGHT AFTER YOU MOVE IN

By: Margaret Heidenry

So you’ve moved into a new home—yay! Maybe you’ve even celebrated with your first takeout meal in the middle of your fabulous (and empty) living room floor. But before you get too comfortable and go into a flurry of unpacking all those carefully labeled boxes, check out this list of things to do right after moving into a new place. It’ll set you up to be sitting pretty for years to come.

1. Take photos
Photos of bare and unadorned rooms? Yep. If you’re renting, these are essential when the time comes to get your security deposit back. Photos are also important if you bought a new home, since a fair amount of time may have passed between the inspection and when the previous owner moved out. If any damage occurred in the interim, or the movers scratched a previously pristine floor, document it. A gallery of pictures taken before your furniture makes it inside will be worth a thousand words—and maybe more than a couple of bucks—should you need to point out damage.

2. Check your belongings for breakage
If you hired movers to either pack or move your belongings, “you have a limited amount of time to report any suspected damage or missing items,” says Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network. “Make sure that if a major appliance was moved”—such as a refrigerator, washer or dryer—“they still function as they should. Review your contract to determine liability coverage if you discover a problem.”

3. Figure out when and where to leave your trash
As you unpack, you’ll be eager to get rid of the trash, so finding out from your landlord, homeowners association or neighbors when and where you can do that is key. “You won’t want to miss pickup day when you’ve got piles of cardboard lying around,” says Desmond Lim, founder of Boston’s moving website QuikForce.

4. Change the locks
It’s your home now, but who else had the keys when the previous residents lived there? No one wants even the slightest question about safety lingering over a new home. This makes swapping out locks as soon as you can “one of the most important things homeowners can do when they are settling into a new property,” says Marty Hoffmann, vice president of marketing at Kwikset.

5. Register your car
Did you move from one state to another? If so, you’ll need to register your car within about 60 days. Each state’s requirements are slightly different, but penalties range from fines to impounding your vehicle if you fail to comply in a timely manner. You’ll also need to get a new driver’s license, usually within 30 days of your move.

6. Break out the drop cloth
Most people don’t have the luxury of painting prior to moving in, so, if possible, paint as soon as you regain your strength from the move. “The longer you wait, the tougher it is to paint,” says Steve Revnew, vice-president of product development at Sherwin-Williams. Most people “continue to collect and add furnishings, all of which make painting more difficult,” he says. “Moving heavy furniture or working around furniture isn’t easy, especially smaller rooms.” But with no obstructions besides neat, stackable boxes, painting is a breeze.

7. Check your credit reports
Your credit reports are usually accessed during a move, as everyone from new employers and landlords need to reference them for background checks. That’s why it’s important to “request a copy of your credit report within six months of your relocation,” Gallegos says. Besides ensuring that your address change was recorded accurately, Gallegos advises to “watch for inconsistencies that might indicate you’ve been a victim of fraud. During a move, a great deal of personal financial information is exchanged and forwarded via mail and email. It’s important to make sure your personal information wasn’t compromised.”

8. Update your voting address
Whether it’s the upcoming election for president or your local school board, don’t forget to update your address so you can vote. Most states allow a 60-day grace period during which time you can use an old address at your new polling place. For elections beyond that, register at least two weeks prior so you don’t miss out on swaying any important issues. After all, what better way is there to plant a foot in your new neighborhood than exercising this all-American right?

90802 Long Beach Local Market Update for January 2016

7-Story Current Tower downtown Long Beach 90802

As Most investors and real estate professionals reporting zip code 90802, the so call area
4 of MLS is set to be one the most vibrant area of Long Beach. A $70M, 17-Story Current Tower to Open in April of 2016. Developers of the in-construction Current Tower, which surpassed its halfway mark this past July, have officially announced at the $70M, 17-story residential tower will be open and leasing in April of next year.

The formerly empty lot that sits at Alamitos & Ocean, kitty-corner to the famed Villa Riviera, was a sight for sore eyes as the prime real estate was home to nothing but cars for years.AndersonPacific LLC, the developer leading the project, had initially proposed two towers, the Current on the west and the other—a massive 35 stories—on the east. It was initially proposed to construct the market-rate 35-story tower first but, following the economic and housing crisis of 2008, was switched, with the smaller tower breaking ground in March of 2014.

The Current will offer 223 luxury units, 6,750 sq. ft. of ground level retail space, and some 25,000 sq. ft. of plaza space that will include additional retail and amenities, as in the rendering of the plaza shown below.

Designed by San Francisco-based BAR Architects, the design is advertised by its creators as being inspired by SoCal modernists like Cliff May and Edward Killingsworth. The building, largely bisected by a tall fin, features alternating bays and terraces and multi-colored panels.

Units will be offered in four floor plans: studios, one bedrooms, two bedrooms, and penthouses. For market activities details and information for downtown Long Beach zip code 90802 click here.

According to Pacific West Association PWR, The natural ending point that is each December gives way every year to the optimism of January. This is particularly pronounced when the economy is strong and economists across the land are predicting increases in both prices and home sales. Granted, there has been some measured language surrounding the positive thinking. Although we are looking forward to a mostly decent year in real estate, it should be the kind of activity akin to a sure and steady life being lived rather than the jolt of a lottery win, which is just the way we want it. 

New Listings were down 6.9 percent for Single Family homes and 1.4 percent for Townhouse-Condo properties. Pending Sales increased 4.9 percent for Single Family homes and 19.4 percent for Townhouse-Condo properties. 

The Median Sales Price was up 7.3 percent to $590,001 for Single Family homes and 7.4 percent to $376,000 for Townhouse-Condo properties. Months Supply of Inventory decreased 30.0 percent for Single Family units and 37.9 percent for Townhouse-Condo units. 

Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Unemployment is solidly about the same, housing metric trends are running about the same for now and the sunny outlook is still at about high noon. Same is the sound of 2016, so get curled up and comfy with the song, because we are likely to sing it a lot this year. Below link is all relative and important numbers for city of Long beach, California. 
 Local Market Update for January 2016 (long Beach, CA)

Original Price vs Sold Price

Very interesting chart. On december of 2015, sold prices are higher than original prices. January & February sold prices are lower than original prices.Results calculated from approximately 320,000 listings.Time frame is from Mar 2015 to Feb 2016. 

Data are as follows: 

Month Original Price, Median Sale Price, Median Mar 2015 $469,900 $435,000 Apr 2015 $475,000 $436,000 May 2015 $479,200 $435,000 Jun 2015 $487,000 $442,500 Jul 2015 $499,000 $450,000 Aug 2015 $485,000 $457,000 Sep 2015 $488,000 $455,000 Oct 2015 $484,900 $450,000 Nov 2015 $470,000 $459,900 Dec 2015 $440,000 $465,000 Jan 2016 $479,900 $450,000 Feb 2016 $499,157 $450,000

MARKET UPDATE FOR JANUARY 2016

View from above!

Photo by Amir Zee, View from Lafayette
building 11th floor Long Beach, CA 

The natural ending point that is each December gives way every year to the optimism of January. This is particularly pronounced when the economy is strong and economists across the land are predicting increases in both prices and home sales. Granted, there has been some measured language surrounding the positive thinking. Although we are looking forward to a mostly decent year in real estate, it should be the kind of activity akin to a sure and steady life being lived rather than the jolt of a lottery win, which is just the way we want it.

New Listings were down 6.9 percent for Single Family homes and 1.4 percent for Townhouse-Condo properties. Pending Sales increased 4.9 percent for Single Family homes and 19.4 percent for Townhouse-Condo properties.

The Median Sales Price was up 7.3 percent to $590,001 for Single Family homes and 7.4 percent to $376,000 for Townhouse-Condo properties. Months Supply of Inventory decreased 30.0 percent for Single Family units and 37.9 percent for Townhouse-Condo units.

Other than the change of another month and year, little else is changed in residential real estate both nationally and locally. Unemployment is solidly about the same, housing metric trends are running about the same for now and the sunny outlook is still at about high noon. Same is the sound of 2016, so get curled up and comfy with the song, because we are likely to sing it a lot this year.