The Housing Market is Shockingly Wild in Long Beach
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I have equity in my home!
The housing market in Long Beach is going wild and you may be shocked at your homeâs market value.
Prices continue their steep climb as buyers continue to out bid one and other on any home that is in move-in condition.Â By move-in, I donât mean newly remodeled, but just clean and functional enough to live in.
The recent threats of a rising interest rate have not materialized, and in fact the rates have gone down.Â Not too long ago we were telling buyers they needed to spend over $450,000 to get into even the smallest house on the east side of Long Beach. Today, that amount has jumped to $500,000. There is definitely a pent-up demand for housing, which is the driving force to the recent pricing madness.Â We are in a perfect storm for increasing prices, as there has been little new construction and therefore decreased inventory, along with a rising demand from an improving economy.Â
Last week I had three agents send me messages asking if I knew of anything due to hit the market in Los Altos soon.Â I took it as a compliment that they realize I have my feet on the ground in this neighborhood and usually have the scoop on any upcoming listing. Unfortunately I wasnât much help. Most of these buyers are searching for that allusive three bedroom and two bathroom home that isnât overly improved, still livable, and therefore still affordable.
While these rapid price increases are bad news for young people stretching to purchase their first home, it is good news for anyone contemplating selling or looking to refinance.Â I have strong opinions that sellers will find helpful for either scenario. Call me today at 562-243-2171 for advice on best lenders for re-finance or call me for help on selling your home to realize top-dollar with the least amount of work and worry.
Are you curious as to what your home is worth? Fill out your information below and I would be more than happy to send you a detailed market report.