90803 , 90802 VS Entire MLS

Please do not let this chart fool you. Even, the 90803 median prices appreciate over entire MLS average, the downtown 90802 area become investors paradise. Potential for grow is tremendous, as all new commercial and residential new project is being built. 

Why Long Beach School District?

Above chart shows median sale prices entire MLS vs. homes located at Long Beach Unified School area. Clearly, due to excellent work of LB unified, more parents are coming to Long Beach for better and more affordable education. The school district was named a national winner of the Broad Prize for Urban Education, recognizing America's best urban school system for increasing student achievement. LBUSD is a five-time finalist for the prize.

LBUSD also earned the District of the Year award from the national business news publisher Industry Dive and its publication, Education Dive.  The honor is part of the Dive Awards recognizing education’s “top disruptors and innovators.” here is fact sheet for LB school district:

LBUSD Facts at a Glance

OPENED 1885

STUDENT ENROLLMENT

• 74,000 Pre-K to High School

STUDENT DIVERSITY

• 56.1% Hispanic
• 13.5% African American
• 13.4% White
• 7.2% Asian
• 3.2% Filipino
• 1.5% Pacific Islander
• 0.2% American Indian/Alaskan Native
   
• 19% English Language Learners
• 69% Socioeconomically Disadvantaged

FACILITIES

• 85 schools in Long Beach, Lakewood, Signal Hill and Avalon (Catalina Island)

BUDGET

• $893 million operating budget for 2017-18

Visit LBUSD for more information. 

10 Answers to 10 Questions regarding Title Insurance & Living Trust

In today’s world of busy probate courts and a desire for privacy, the living trust has become a common manner of holding title to real property. The following may help you understand a few of the requirements of the title insurance industry if title to property is conveyed to the trustee of a living trust.

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.