Long Beach general thread

NEW -> Contingent Buyer Assistance Program
[quote author="freedomCM" date=1216282601]I like that they love LB, but have their eyes wide open and frequently compare LBC to The OC, for construction quality, lot size, crime, etc</blockquote>


Saw this old post and made me think.



I guess it's all perspective. Most people in Long Beach would not prefer to live in OC, particularly Irvine and other southern inland cities like Mission Viejo. Those areas are not walkable and are viewed as lacking character due to the tract home, cookie cutter look of the houses and shopping centers. As far as lot size and safety, East Long Beach fairs very well when compared to most places in OC, especially the newer OC cities. Above all, Long Beach residents like the relaxed, community feel and lack of pressure to live above their means. There is a widely held perception that even though income levels are basically the same in suburban East Long Beach vs. inland OC there is a plastic, keep up with the jones culture in the OC cities which LB residents don't like. As far as construction quality it's hard to argue most new tract homes in OC are good quality.
 
[quote author="awgee" date=1240381629][quote author="morekaos" date=1240380760]I do not think these are anomalies. There is a home on Rafael Walk that just came up and I think the builder/owner may have run out of money. Nice, new, never lived in house put up on a flattened old house lot. Not for what they are asking but probably much lower. There is another right down the street that is a short sale and another on the water that is bank owned. Prices will come down more. I am a patient man. Mrs Morekaos is another story.



<a href="http://www.redfin.com/CA/Long-Beach/242-N-Rafael-Walk-90803/home/7593011">outta money</a>



<a href="http://www.redfin.com/CA/Long-Beach/5940-E-Appian-Way-90803/home/7592395">short sale</a>



<a href="http://www.redfin.com/CA/Long-Beach/5743-E-Corso-Di-Napoli-90803/home/7592791">bank owned</a></blockquote>


WTH! I am totally lost on the pricing on Rafael Walk. What gives?

It is much harder on my wife to rent than it is on me.

Did Corso di Napoli sell? Nice lot with open water dock.</blockquote>


Rafael is fishing. They did a total bust down,build up but it is by nooo means a 1.7 mil home. I bet their sunk construction costs are in the 3-400m zone and they are hoping to get out with the loans paid off and a few bucks in their pockets. This brand new spec home right down the street is worth way more at 1/2 the square foot price and they haven't been able to move it for a year and a half...some people are doomed by their own greed and pride



<a href="http://www.redfin.com/CA/Long-Beach/215-The-Toledo-90803/home/7592422">nicer home</a>
 
[quote author="morekaos" date=1240443873][quote author="awgee" date=1240381629][quote author="morekaos" date=1240380760]I do not think these are anomalies. There is a home on Rafael Walk that just came up and I think the builder/owner may have run out of money. Nice, new, never lived in house put up on a flattened old house lot. Not for what they are asking but probably much lower. There is another right down the street that is a short sale and another on the water that is bank owned. Prices will come down more. I am a patient man. Mrs Morekaos is another story.



<a href="http://www.redfin.com/CA/Long-Beach/242-N-Rafael-Walk-90803/home/7593011">outta money</a>



<a href="http://www.redfin.com/CA/Long-Beach/5940-E-Appian-Way-90803/home/7592395">short sale</a>



<a href="http://www.redfin.com/CA/Long-Beach/5743-E-Corso-Di-Napoli-90803/home/7592791">bank owned</a></blockquote>


WTH! I am totally lost on the pricing on Rafael Walk. What gives?

It is much harder on my wife to rent than it is on me.

Did Corso di Napoli sell? Nice lot with open water dock.</blockquote>


Rafael is fishing. They did a total bust down,build up but it is by nooo means a 1.7 mil home. I bet their sunk construction costs are in the 3-400m zone and they are hoping to get out with the loans paid off and a few bucks in their pockets. This brand new spec home right down the street is worth way more at 1/2 the square foot price and they haven't been able to move it for a year and a half...some people are doomed by their own greed and pride



<a href="http://www.redfin.com/CA/Long-Beach/215-The-Toledo-90803/home/7592422">nicer home</a></blockquote>


Yeah, I do not get the price on that one either. I have a two clients who live on that block of The Toledo and I think it is too busy a street to raise children on, especially with no front or back yard.
 
I don't like Toledo either. I'll try for some of the smaller side streets but those homes are going to require a total knock down, build up.
 
While we are on the topic of Toledo, check out this listing right next door. I can never figure out how a person can pay for a property like this and in less than 2 years have to sell it again. Now for huge ass loss..or at least it will be when and if it finally closes.



<a href="http://www.redfin.com/CA/Long-Beach/230-The-Toledo-90803/home/7592991">Another on Toledo</a>



Apr 22, 2009 Listed $1,019,000 -- SoCalMLS #P684470

Jun 13, 2007 Sold $1,059,000 7.3%/yr Public Records
 
[quote author="morekaos" date=1240552809]While we are on the topic of Toledo, check out this listing right next door. I can never figure out how a person can pay for a property like this and in less than 2 years have to sell it again. Now for huge ass loss..or at least it will be when and if it finally closes.



<a href="http://www.redfin.com/CA/Long-Beach/230-The-Toledo-90803/home/7592991">Another on Toledo</a>



Apr 22, 2009 Listed $1,019,000 -- SoCalMLS #P684470

Jun 13, 2007 Sold $1,059,000 7.3%/yr Public Records</blockquote>


Woahh!!! 2 days latter and they drop bellow a mil? Let us see what happens



Apr 24, 2009 Price Changed $989,000 -- SoCalMLS #P684470

Apr 22, 2009 Listed $1,019,000 -- SoCalMLS #P684470

Jun 13, 2007 Sold $1,059,000 7.3%/yr Public Records
 
The bottom is here!!! Sellers on the Peninsula are raising prices!!! Haleluia, buy now or be priced out forever!!



<a href="http://www.redfin.com/CA/Long-Beach/47-57th-Pl-90803/home/7594118?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">47 57th Pl </a>



Apr 28, 2009 Price Changed <strong>$1,250,000 </strong>-- SoCalMLS #P675870

Feb 15, 2009 Listed <strong>$1,150,000 </strong>-- SoCalMLS #P675871

Apr 08, 2008 <strong>Sold $1,150,000 </strong>
 
[quote author="morekaos" date=1224302404]Check it out $379 a square foot in the Shore on "new" construction. We are getting better folks.



http://www.redfin.com/CA/Long-Beach/25-Belmont-Ave-90803/home/12284836</blockquote>


I have been watching ths street in the Shore for awhile now and it is astounding that for such a short street (8 houses) I have posted 3 of them that are in trouble or bank owned. How can 35% of a street be in forclosure?



<a href="http://www.redfin.com/CA/Long-Beach/25-Belmont-Ave-90803/home/12284836">25 Belmont</a> Never sold



<a href="http://www.redfin.com/CA/Long-Beach/27-Belmont-Ave-90803/home/8181463">27 Belmont</a> For sale



<a href="http://www.redfin.com/CA/Long-Beach/45-Belmont-Ave-90803/home/7602303">45 Belmont</a> Never sold
 
Even the rich can run out of money. I seem to see these more and more around here, not even the Peninsula is imune. Look at this "as is" sale in a very nice area



<a href="http://www.redfin.com/CA/Long-Beach/30-Dana-Pl-90803/home/7594111?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">30 Dana</a>



Man, just $75,000.00 short. That must have hurt.



"BEST VALUE! HUGE PRICE REDUCTION! 'As-Is', call (800) 456-9107 to preview. Almost finished, estimated $75k to complete."
 
[quote author="morekaos" date=1241559861]Even the rich can run out of money. I seem to see these more and more around here, not even the Peninsula is imune. Look at this "as is" sale in a very nice area



<a href="http://www.redfin.com/CA/Long-Beach/30-Dana-Pl-90803/home/7594111?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">30 Dana</a>



Man, just $75,000.00 short. That must have hurt.



"BEST VALUE! HUGE PRICE REDUCTION! 'As-Is', call (800) 456-9107 to preview. Almost finished, estimated $75k to complete."</blockquote>


Come on squatters, pick up a paint roller!
 
[quote author="morekaos" date=1240552809]While we are on the topic of Toledo, check out this listing right next door. I can never figure out how a person can pay for a property like this and in less than 2 years have to sell it again. Now for huge ass loss..or at least it will be when and if it finally closes.



<a href="http://www.redfin.com/CA/Long-Beach/230-The-Toledo-90803/home/7592991">Another on Toledo</a>



Apr 22, 2009 Listed $1,019,000 -- SoCalMLS #P684470

Jun 13, 2007 Sold $1,059,000 7.3%/yr Public Records</blockquote>


Well, maybe they had to move due to their job situation changing (laid off and found a job elsewhere, transfered by their company, found a higher paying job elsewhere, etc.). Things change, sometimes unexpectedly.
 
How the hell can you fund a house like this and come up 75 big ones short? That's the cost of the Lexus in the garage, stocking the wine cellar, The patio furniture for the roof deck. I mean c'mon, you were so close to the line, just get it done!!!
 
[quote author="morekaos" date=1241559861]Even the rich can run out of money. I seem to see these more and more around here, not even the Peninsula is imune. Look at this "as is" sale in a very nice area



<a href="http://www.redfin.com/CA/Long-Beach/30-Dana-Pl-90803/home/7594111?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">30 Dana</a>



Man, just $75,000.00 short. That must have hurt.



"BEST VALUE! HUGE PRICE REDUCTION! 'As-Is', call (800) 456-9107 to preview. Almost finished, estimated $75k to complete."</blockquote>


Wouldn't it make sense to finish the damned house before putting it on the market? Unless somebody who at one time had enough money to pay for 95% of that really can't beg or borrow the last $75k to finish it.
 
Yet another monstrosity that apparently ran out of money. <a href="http://www.redfin.com/CA/Long-Beach/1724-Bluff-Pl-90802/home/7611197">1724 Bluff</a>



"THIS PRICE IS RIDICULOUS!!OWNER SAYS SELL!!" If asking $1,995,000 for a yet-to-be-completed project is "ridiculous," then the original asking price of $4,500,000 was straight up greedtarded.



The inside is gorgeous:

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_19_1.jpg" alt="" />



But why not just complete the remaining 5% of work before you sell it?

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_13_3.jpg" alt="" />

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_14_3.jpg" alt="" />





<a href="http://longbeachhousingblog.blogspot.com/2009/05/new-price-per-square-foot-record-update.html">A New Price Per Square Foot Record: UPDATE</a>
 
How do you enter that house? Is the missing garage door the new entryway or is that little doggy door next to it? Otherwise you have to get yourself a ladder and go in the side In the listing I hope they say "as is", no guarantees or warranties
 
[quote author="morekaos" date=1242280390]How do you enter that house? Is the missing garage door the new entryway or is that little doggy door next to it? Otherwise you have to get yourself a ladder and go in the side In the listing I hope they say "as is", no guarantees or warranties</blockquote>


You have your visitors shimmy up the pole and jump onto the roof.
 
[quote author="RE in the LBC" date=1242276001]Yet another monstrosity that apparently ran out of money. <a href="http://www.redfin.com/CA/Long-Beach/1724-Bluff-Pl-90802/home/7611197">1724 Bluff</a>



"THIS PRICE IS RIDICULOUS!!OWNER SAYS SELL!!" If asking $1,995,000 for a yet-to-be-completed project is "ridiculous," then the original asking price of $4,500,000 was straight up greedtarded.



The inside is gorgeous:

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_19_1.jpg" alt="" />



But why not just complete the remaining 5% of work before you sell it?

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_13_3.jpg" alt="" />

<img src="http://media.cdn-redfin.com/photo/46/bigphoto/360/P672360_14_3.jpg" alt="" />





<a href="http://longbeachhousingblog.blogspot.com/2009/05/new-price-per-square-foot-record-update.html">A New Price Per Square Foot Record: UPDATE</a></blockquote>
I love the following description by the realtard...



"THIS PRICE IS RIDICULOUS!!OWNER SAYS SELL!!..OPPORTUNITY KNOCKS"



Yeah, the price is ridiculous that's for sure. The opportunity to lose lots of cash is knocking but no is opening the door.
 
[quote author="usctrojanman29" date=1242295344]The opportunity to lose lots of cash is knocking but no is opening the door.</blockquote>


LOL. It's tough to open a door when it's made out of plywood and nailed shut!
 
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