Long Beach Real Estate.

Depends on the price, floorplan and location.

 

My guess is little appreciation after the 5 years. Long Beach is coming around but it's very close to some serious LBC hood. Why's the guy going to offer you a killer deal Aren't selling, what? What's the HOA? A lot of these fancy places have big fees not to mention the property taxes based on selling price. The market is still seeing downward force and this will continue. If you can use this place as a write off or if it will be of good use to you somehow then it'll be worth it. If you're putting all your eggs in one basket hoping for a big return then I'd forget it. Just do the math based on minimal appreciation, maybe 10 - 15%. IMO supply will out pace demand in that area. Good luck with it.

 

Out of curiosity, what sort of asking prices are we talking about, if you don't mind me asking?

 

$150k off what? If the price is inflated to begin with, you're not getting much of a bargain. You're going to have to give out some more details before anyone can know if this is a decent deal.

 

Excellent questions. Others might be. Five year history on prices in that building (neighborhood), taxes, condo fees (I'm assuming condo), and insurance rates. If these sans prices are expected to rise dramatically, I'd exercise caution.




QUOTE=8 SNAKE;136746298]Depends on the price, floorplan and location.[/QUOTE]

 

I grew up and went to school in LB. Moved away in 1989 and never looked back. Naval shipyard closed, Boeing bought McDonnel Douglas and has all but shut that whole company down. "The International City" never took off as the city planners had hoped, except for racial tensions among whites, blacks, latinos and Cambodians. The Port is very strong, which keeps the City in the black, in spite of years of mismanagement. Check out the Queen Mary if you need more evidence. On the bright side, they have a cool race once a year in the streets and the aquarium and related tourist attractions/convention center seem to be doing very well.

The location you are looking at is in the middle of the "hood." If you desire easy access to crack and the smell of urine on your front door, that would be a great crib for you. You would be nuts to buy a condo in that location for that price. I'm sure the building is nice and the furnishings are great, but it's still in a bad part of town. Long Beach is centrally located to LA and to OC and has cooler, cleaner air than most of the LA Basin. If you like Long Beach, you want to live on the east side in Belmont Shore, Naples, Alamitos Bay, Alamitos Heights, Park Estates or Bixby Hill. Seal Beach is right next door and is in OC, rather than LA Co. If you like La Jolla, I don't think you would want to be anywhere but Naples, the Shore or the Peninsula.

 

From the beach to 7th street is where I would live. You’re on 8th, so I would pass. It really turns into the hood. I love Long Beach, but buy as close to the water as possible. Like dakharris said "If you like Long Beach, you want to live on the east side in Belmont Shore, Naples, Alamitos Bay, Alamitos Heights, Park Estates or Bixby Hill."

Where you are looking at is very downtownish. No grass, just tall buildings and stores.

Upsides of Long Beach- least expensive beach community. Close to LA and OC. Long Beach Grand Prix. Tons of nightlife. Weather is usually nicer than other coastal cities. Somehow Palos Verdes blocks the fog that Manhattan/Redondo gets.

Downsides of Long Beach- After 7th street it's the LBC. Are you qualified to represent? The beaches are not populated with sunbathers. That was a huge downside for me. It’s also very gay, not a downside, but if your homophobic, it is.

The true test for me is "Would I live there again, and would I buy another condo there?" The answer is yes, but not north of 7th. Not north of 4th would be even better. FYI, I lived on 2nd.