Housing Bubble

The State of Long Beach Real Estate

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Or Bubble Bubble Toil and Trouble

 

The bubble, the bubble - Oh no! The Bubble!!! 

Relax, there is no bubble. Here's why. California's Real Estate Market is
directly affected by one thing. Population. Everybody needs a place to sleep and
as long as our population continues to increase so to will the need for housing.
Be it home purchasers or renters - this market will remain hot as long as people
want to live in California communities. Do I smell a mass exodus coming?

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Long Beach's population according to the United
States Census Bureau:

Year Surveyed	2004	2000	1994
Population	476,564	461,522	429,433

More home buyers use the internet

A CAR (California Association of Realtors®) survey conducted
in March 2005 had some interesting findings.

Almost 2/3 of first time homebuyers used the internet as a significant part
of the home buying process. Interestingly, less than half of repeat home
buyers used the internet. I thought it would be fun to post some of the results
from the survey:

1. Median age of internet home buyer was 39


2. 9 out of 10 were married


3. 85% had college degrees and had average income of $185,088 /annual


4. 0% (yes zero percent) considered information found on the internet more
   important than information from their real estate agent


5. Internet buyers spent 5 weeks less searching for the home they would
   eventually purchase than their non-internet user counterparts

So what have we learned here? 1.) call me. 2.) the internet is good 3.) all
those failed dot com-ers are buying houses using the internet but relying their
realtors more.

Sales Comps 90803 Dec/04

December 04 Sales in 90803

to request
current sales history click here.

Address	Sale Date	Sale Price	Description
221 Belmont Ave	12/30/2004	$1,300,013	2856 SF, 4 units, 4 family (0400), 4 BR, 4 BA
3030 E Mariquita St	12/30/2004	$485,004	1031 SF, single family (0100), 1 BR, 1 BA
130 Santa Ana Ave	12/29/2004	$490,004	927 SF, single family (0100), 2 BR, 1 BA
142 Covina Ave	12/29/2004	$975,009	1992 SF, 2 units, 2 family (0200), 4 BR, 2 BA
120 Glendora Ave	12/29/2004	$730,007	1026 SF, single family (0100), 2 BR, 2 BA
277 Grand Ave	12/29/2004	$880,008	1632 SF, single family (0104), 2 BR, 2 BA
5400 E The Toledo	12/28/2004	$535,005	1118 SF, condo (010c), 2 BR, 2 BA
4616 E Shaw St	12/28/2004	$1,200,012	2161 SF, single family (0100), 2 BR, 2 BA
131 Roycroft Ave	12/28/2004	$1,100,011	2705 SF, 2 units, 2 family (0200), 4 BR, 2 BA
257 Loma Ave	12/28/2004	$650,006	518 SF, 3 family (0300), 1 BR, 1 BA