Long Beach general thread

[quote author="morekaos" date=1249420504]Well prices seem to be rising in the Shore now that the Super Summer Selling Season is in full swing.



<a href="http://www.redfin.com/CA/Long-Beach/223-Roycroft-Ave-90803/home/21650905?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">223-Roycroft-Ave</a>



<span style="color: red;"><span style="font-size: 13px;"><strong>Aug 03, 2009 Price Changed $749,000 </strong></span></span>-- Zillow #2138376155

Aug 03, 2009 Listed $725,000 -- Zillow #2138376155

Jul 13, 2009 Price Changed -- -- Zillow #2138376155

Jul 13, 2009 Delisted -- -- Zillow #2138376155

Jul 09, 2009 Price Changed $725,000 -- Zillow #2138376155

Jul 09, 2009 Listed $725,000 -- Zillow #2138376155

Jul 05, 2009 Price Changed -- -- Zillow #2138376155

Jul 05, 2009 Delisted -- -- Zillow #2138376155

Jun 24, 2009 Relisted -- -- Zillow #2138376155

Jun 17, 2009 Delisted -- -- Zillow #2138376155

<span style="color: green;"><span style="font-size: 13px;"><strong>Jun 15, 2009 Listed $725,000 </strong></span></span>-- Zillow #2138376155</blockquote>
This is what you all an ADD listing...it's all over the place. haha
 
[quote author="morekaos" date=1217402250]Two million dollar bank owned in the shore. not so million dollar any more though



http://www.redfin.com/CA/Long-Beach/209-Glendora-Ave-90803/home/75972001,300,000.00 to 829,900



http://www.redfin.com/CA/Long-Beach/246-Claremont-Ave-90803/home/7597038was 1,300,000 now 910,000</blockquote>


I thought I would revisit some of our former millionaire-next-door oldies but goodies.



<a href="http://www.redfin.com/CA/Long-Beach/209-Glendora-Ave-90803/home/7597200">209 Glendora</a>



May 06, 2009 Sold $750,000 -23.8%/yr Public Records

Jan 03, 2008 Sold $1,080,000 -7.7%/yr Public Records

Sep 09, 2005 Sold $1,300,000 18.7%/yr Public Records



Nice summer selling season sale...and a nice hit.



<a href="http://www.redfin.com/CA/Long-Beach/246-Claremont-Ave-90803/home/7597038">246 Claremont</a>



Nov 24, 2008 Sold $829,000 -35.5%/yr Public Records

Jun 11, 2008 Sold $1,012,173 10.8%/yr Public Records



Well done, Nice stock market like loss on margin.
 
What sort of trickery is afoot here? Is this the same property?



<a href="http://www.redfin.com/CA/Long-Beach/4640-E-Broadway-90803/home/7601798?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">4640 E Broadway</a>



<a href="http://www.redfin.com/CA/Long-Beach/223-Roycroft-Ave-90803/home/21650905?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">233 Roycroft</a>
 
[quote author="morekaos" date=1249937978]What sort of trickery is afoot here? Is this the same property?



<a href="http://www.redfin.com/CA/Long-Beach/4640-E-Broadway-90803/home/7601798?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">4640 E Broadway</a>



<a href="http://www.redfin.com/CA/Long-Beach/223-Roycroft-Ave-90803/home/21650905?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">233 Roycroft</a></blockquote>


Apparently. Ever see Oliver Stone's JFK? There was a plot point where an address that Oswald stamped on a flyer was the same corner building as a building owned by somebody else in the conspiracy. (I have no idea if that really happened in real life, since the movie stretched the truth in so many ways.)



Pretty weird to set up such for a residential property, unless it's a duplex or two-on-a-lot. Maybe they have a home business?



Looks like the Broadway address is the "correct" one, since Redfin can't find property tax data on the Roycroft address and the automated estimate services don't have values for it, but the property tax data and automated estimates are available using the Broadway address.
 
[quote author="morekaos" date=1249603277]



<a href="http://www.redfin.com/CA/Long-Beach/246-Claremont-Ave-90803/home/7597038">246 Claremont</a>



Nov 24, 2008 Sold $829,000 -35.5%/yr Public Records

Jun 11, 2008 Sold $1,012,173 10.8%/yr Public Records



Well done, Nice stock market like loss on margin.</blockquote>


To be fair, the first sale was almost certainly the bank taking back the property after a failed trustee auction. The price recorded was probably the amount owed (looks like somebody HELOCed or refied themselves to death), and doesn't represent where the market was in June.
 
[quote author="Geotpf" date=1249939381][quote author="morekaos" date=1249603277]



<a href="http://www.redfin.com/CA/Long-Beach/246-Claremont-Ave-90803/home/7597038">246 Claremont</a>



Nov 24, 2008 Sold $829,000 -35.5%/yr Public Records

Jun 11, 2008 Sold $1,012,173 10.8%/yr Public Records



Well done, Nice stock market like loss on margin.</blockquote>


To be fair, the first sale was almost certainly the bank taking back the property after a failed trustee auction. The price recorded was probably the amount owed (looks like somebody HELOCed or refied themselves to death), and doesn't represent where the market was in June.</blockquote>


You are correct. That home was HELOCed into foreclosure with a total knockdown-rebuild. The flipper-gone-wrong did a lousy job and the new owner had to drop some dime to fix all the shoddy work
 
[quote author="morekaos" date=1249940277][quote author="Geotpf" date=1249939381][quote author="morekaos" date=1249603277]



<a href="http://www.redfin.com/CA/Long-Beach/246-Claremont-Ave-90803/home/7597038">246 Claremont</a>



Nov 24, 2008 Sold $829,000 -35.5%/yr Public Records

Jun 11, 2008 Sold $1,012,173 10.8%/yr Public Records



Well done, Nice stock market like loss on margin.</blockquote>


To be fair, the first sale was almost certainly the bank taking back the property after a failed trustee auction. The price recorded was probably the amount owed (looks like somebody HELOCed or refied themselves to death), and doesn't represent where the market was in June.</blockquote>


You are correct. That home was HELOCed into foreclosure with a total knockdown-rebuild. The flipper-gone-wrong did a lousy job and the new owner had to drop some dime to fix all the shoddy work</blockquote>


Ouch. I figured it was a simple buy-a-Mercedes-and-go-to-Hawaii-on-vacation type of HELOC, not an actual failed remod.
 
[quote author="morekaos" date=1219720277]DOH!!!! That's half off.



388 E Ocean Blvd #P15

Long Beach, CA 90802



<strong><span style="color: red;"><span style="font-size: 13px;">Price: $700,000 </span></span></strong>





Listing Price History

Date Price

Jun 16, 2008 $1,000,000

Jun 23, 2008 $700,000

Aug 07, 2008 $550,000

Aug 08, 2008 $700,000



Date Price Appreciation

Jul 03, 2006 $1,022,500 --

<span style="color: red;"><span style="font-size: 13px;"><strong>Jul 11, 2007 $1,350,000 </strong></span></span>31.3%/yr





http://www.redfin.com/CA/Long-Beach/388-E-Ocean-Blvd-90802/unit-P15/home/8181586</blockquote>


Another trip down memory lane. This one landed with a thud after this post at $515,00.00!! YIKES!!! A 60% loss in a year and a half. I am sure if I checked more in this building I would find even worse examples but for now this will do.



<a href="http://www.redfin.com/CA/Long-Beach/388-E-Ocean-Blvd-90802/unit-P15/home/8181586 ">388 Ocean</a>



Nov 26, 2008 <span style="color: red;"><span style="font-size: 13px;"><strong>Sold $515,000 </strong></span></span>-59.5%/yr Public Records

Aug 21, 2008 Sold $655,000 -47.7%/yr Public Records

Jul 11, 2007 <span style="color: green;"><span style="font-size: 13px;"><strong>Sold $1,350,000 </strong></span></span>31.3%/yr
 
[quote author="morekaos" date=1222997608]What exactly goes through a Realtard mind when they look at the credit market the way it is, medians dropping and they are stuck with this POS bank owned shack without a bite for over 218 days and suddenly they have this John Travolta "Phenomenon" epiphany that raising the price might actually work....WTF



Listing Price History

Date Price

Feb 27, 2008 $724,900

Mar 11, 2008 $699,000

Mar 20, 2008 $649,000

Jul 08, 2008 $624,000

Jul 15, 2008 $595,000

Sep 23, 2008 $625,000



http://www.redfin.com/CA/Long-Beach/243-La-Verne-Ave-90803/home/7597250</blockquote>


Well this strategy clearly didn't work. Property went back to the bank January of 2009 and looks like it finally sold a year latter for a grand less the lowest list price. Brilliant Realtard....thanks for all the processional advice.



<a href="http://www.redfin.com/CA/Long-Beach/243-La-Verne-Ave-90803/home/7597250 ">243 La Verne</a>



Apr 10, 2009 Sold $594,000 74.9%/yr Public Records

Jan 27, 2009 Sold $531,250 -3.0%/yr Public Records

Apr 28, 2004 Sold $615,000 -- Public Records
 
And the monster gasps then slides off the cliff



<a href="http://www.redfin.com/CA/Long-Beach/215-The-Toledo-90803/home/7592422">215 The Toledo</a>
<fieldset class="gc-fieldset">
<legend> Attached files </legend> <a href="http://www.talkirvine.com/converted_files/images/forum_attachments/399_Delc7XweIIb7W2DFUa62.pdf" target="_blank" class="gc-files">215 the toledo.pdf</a> <span class="gc-filesize">(47 B)</span> </fieldset>
 
[quote author="freedomCM" date=1250253314]pretty fun, unless you are national city.





btw, you should edit out the person's name from the pdf</blockquote>


Ooops! Thanks, I'll get that next time
 
This is like following a stock. This bonehead actually believes the real estate market has turned. Check out his two price hikes in the last three months that have gotten this shack so much new interest. Even with his recent hikes it won't pull him out of his hole unless he keeps up the pace, by December the ask should be back to his purchase price.



Property History for 3535 E 1st. St

Date Event Price Appreciation Source

<strong>Aug 26, 2009 Price Changed $915,000 -- SoCalMLS #P686909

Jul 27, 2009 Price Changed $905,000 -- SoCalMLS #P686909

Jun 28, 2009 Price Changed $894,500 -- SoCalMLS #P686909 </strong>

Jun 07, 2009 Price Changed $899,000 -- SoCalMLS #P686909

Jun 06, 2009 Price Changed $938,600 -- SoCalMLS #P686909

Jun 02, 2009 Price Changed $949,400 -- SoCalMLS #P686909

May 26, 2009 Price Changed $959,300 -- SoCalMLS #P686909

May 19, 2009 Price Changed $962,000 -- SoCalMLS #P686909

May 11, 2009 Listed $969,200 -- SoCalMLS #P686909

<span style="color: red;"><strong>Dec 09, 2005 Sold $1,050,000 18.4%/yr Public Records </strong></span>

Apr 04, 1997 Sold $243,000 52.3%/yr Public Records

Dec 24, 1996 Sold $216,311 -- Public Records







<a href="http://www.redfin.com/CA/Long-Beach/3535-E-1st-St-90803/home/7608863?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">3535 E 1st St.</a>
 
[quote author="morekaos" date=1247649075][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>


Hey, Elbee





I know you are travelling but I biked by this monstrosity Sunday and it has a HUGE "Pending" sign hangin off the roof. You thin they found a knife catcher?</blockquote>


Well, there you have it. Looks like it closed at 1.8



Property History

Date Event Price Appreciation Source

Jul 23, 2009 Sold $1,795,000 15.6%/yr Public Records

Jan 07, 2005 Sold $930,000 20.2%/yr Public Records

Nov 06, 2003 Sold $750,000 -39.8%/yr Public Records

Nov 05, 1999 Sold $5,736,000 87.6%/yr Public Records

Dec 14, 1995 Sold $495,000 -- Public Records
 
[quote author="morekaos" date=1243545023][quote author="morekaos" date=1234345269]It was bound to happen. Folks, we have our first WATERFRONT forclosure on the island. I just walked by this empty house and read the forclosure notice on the door.



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


It's back. After a brief vacation for the last three months in bank REO Hell this waterfront home is back on the market with a new and improved 2006 price tag.



<a href="http://www.redfin.com/CA/Long-Beach/Undisclosed-address-90803/home/7592791?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">Price: $1,900,000 </a></blockquote>


Well, now we know why this places got foreclosed on. Freshly posted interior shots show the extent of the damage. Still...nice view and a 40 foot dock.
 
[quote author="morekaos" date=1252059527][quote author="morekaos" date=1243545023][quote author="morekaos" date=1234345269]It was bound to happen. Folks, we have our first WATERFRONT forclosure on the island. I just walked by this empty house and read the forclosure notice on the door.



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


It's back. After a brief vacation for the last three months in bank REO Hell this waterfront home is back on the market with a new and improved 2006 price tag.



<a href="http://www.redfin.com/CA/Long-Beach/Undisclosed-address-90803/home/7592791?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">Price: $1,900,000 </a></blockquote>


Well, now we know why this places got foreclosed on. Freshly posted interior shots show the extent of the damage. Still...nice view and a 40 foot dock.</blockquote>


$2M for a "fixer"? oh wait, at these prices it is a blank canvas. My bad.



What is the point of "Opportunity knocks...will you be the lucky one to open the door?" I am seeing that a lot. Has that been proven to cause some visceral response in potential buyers?
 
[quote author="morekaos" date=1252059527][quote author="morekaos" date=1243545023][quote author="morekaos" date=1234345269]It was bound to happen. Folks, we have our first WATERFRONT forclosure on the island. I just walked by this empty house and read the forclosure notice on the door.



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


It's back. After a brief vacation for the last three months in bank REO Hell this waterfront home is back on the market with a new and improved 2006 price tag.



<a href="http://www.redfin.com/CA/Long-Beach/Undisclosed-address-90803/home/7592791?utm_source=myredfin&utm_medium=email&utm_campaign=listings_update&utm_nooverride=1">Price: $1,900,000 </a></blockquote>


Well, now we know why this places got foreclosed on. Freshly posted interior shots show the extent of the damage. Still...nice view and a 40 foot dock.</blockquote>
I'd be curious to see what kind of damage a good inspection would discover on this fixer. Don't you hate when you run out of money? haha
 
Wow, This is how a perfectly safe homeowner gets himself into deep crap. This guy bought right.



<a href="http://www.redfin.com/CA/Long-Beach/15-69th-Pl-90803/home/7594537">15-69th-Pl</a>



Date Event Price Appreciation Source

Aug 05, 2009 Price Changed $1,490,000 -- SoCalMLS #P695505

Jul 16, 2009 Listed $1,590,000 -- SoCalMLS #P695505

<span style="color: green;"><strong>Nov 26, 1997 Sold $610,000 </strong></span>-- Public Records



You stud!! You got a cherry house on "The Peninsula", at a fairly decent price. He put a nice down and financed the remaining $458,000.00. So far so good. Then....the house found a job



2/18/98 $72,000 loan

1/6/99 $480,000 loan

3/15/00 $50,000 loan

7/3/01 $140,000 loan

2/3/05 $73,000 loans

9/1/06 $1,050,109 sloppy refi of all the debt



Then..... the house got fired and started to collect unemployment (lazy-ass house!)



3/31/09 First default filed

9/29/09 House will go to auction



This bonehead had it all and blew it!!! Amazing!
 
[quote author="morekaos" date=1252800298]Wow, This is how a perfectly safe homeowner gets himself into deep crap. This guy bought right.



<a href="http://www.redfin.com/CA/Long-Beach/15-69th-Pl-90803/home/7594537">15-69th-Pl</a>



Date Event Price Appreciation Source

Aug 05, 2009 Price Changed $1,490,000 -- SoCalMLS #P695505

Jul 16, 2009 Listed $1,590,000 -- SoCalMLS #P695505

<span style="color: green;"><strong>Nov 26, 1997 Sold $610,000 </strong></span>-- Public Records



You stud!! You got a cherry house on "The Peninsula", at a fairly decent price. He put a nice down and financed the remaining $458,000.00. So far so good. Then....the house found a job



2/18/98 $72,000 loan

1/6/99 $480,000 loan

3/15/00 $50,000 loan

7/3/01 $140,000 loan

2/3/05 $73,000 loans

9/1/06 $1,050,109 sloppy refi of all the debt



Then..... the house got fired and started to collect unemployment (lazy-ass house!)



3/31/09 First default filed

9/29/09 House will go to auction



This bonehead had it all and blew it!!! Amazing!</blockquote>
If someone could pick this up for less than $1m it might be a good deal. If you moved this home over to Balboa the price tag would be 3-4x times as much.
 
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