17 Things You Need to Know About Long Beach CA Real Estate

1. Long Beach has over 345 days of sunshine per year. No need for an umbrella.
   
2. There are 17 different historical districts in Long Beach: Belmont Heights, Bluff Heights, Bluff Park, Brenner Place, California Heights, Carroll Park, Drake Park, Eliot Lane, Hellman Street, Linden Avenue, Lowena Drive, Minerva Park Place, Rose Park, Rose Park South, Sunrise Boulevard, Wilton Street and Wrigley.
3. Your best investment is a Long Beach Realtor®. Their expertise can make a big difference in the representation, negotiations and overall Long Beach real estate experience of condo buying or selling process.
4. Property taxes are determined by the final purchase price of your condo. In California, the average is 1.25% of the purchase price. The tax is paid in two installments over the course of a year. In Texas, the property tax is 3%. In Oregon, they reassess property every year…yikes…so, be happy it is lower here.
5. Property taxes and interest on your loan may be tax deductible. Check with your CPA (Certified Public Accountant) for more information.
6. An investment in Long Beach real estate tends to be on the largest investments that most people make. Buying property in an excellent investment. While prices may be going down in 2007, they go up in value over time. Most people stay in their homes for 5 to 7 years. Just think if you purchased a home 5 or 6 years ago, the value would have probably doubled. But now is an excellent time to buy. “Buy when no one else is buying and sell when no one else is selling….”
7. Interest rates are low. Take advantage of them now. When prices go back up, the rates may go up too.
8. Get pre-approved for a loan before you go out previewing Long Beach real estate with an agent or real estate consultant. Why? Then, you know what you are really qualified for. Plus, it saves you time.
9. If your Long Beach Realtor® shows you a property that you don’t like, tell them.  Share with them a little more about what you really like so they can assist you.
10. When you make a payment on your mortgage, a portion of each payment goes to paying off the principal and the other portion goes to paying the interest.
11. Of all the Long Beach real estate investments you make now and in the future, your condo or home will be one of the few investments that you can enjoy living in it. Your other investments will, hopefully, generate you a cash flow for your retirement. We are a great source of help and wisdom when it comes to investing in property to rent out to other parties.
12. Realtors® follow a strict code of ethics. Not all real estate agents are Realtors®. A Realtor® is someone who is a member of the National Association of Realtors®.
13. Realtors® cannot receive any compensation from the people that they refer you too, according to the Real Estate Settlement and Procedures Act (RESPA). (i.e. Lenders, mortgage professionals, title companies, home warranty companies, etc.)
14. Working through a Long Beach California Realtor® to purchase a For Sale By Owner home can be very advantageous because someone is looking out for your best interests.
15. Your Real Estate professional knows who are the best lenders and can refer you to someone for a loan. We have long-term relationships with lenders and mortgage professionals that our clients have worked with in the past. Good, ethical lenders who know what they are doing and will find you the best rates and terms possible for your real estate investment goals. From first time buyers to move up buyers, they have programs and mortgage products for all types of buyers.
16. Ask your Long Beach Realtor® whom he or she is representing in the transaction.  Always have your own agent to represent you.
    
17. Ask your real estate professional what he or she will do to keep you informed. Your Long Beach real estate professional should provide you with the highest level of service, advice and time-tested real estate investment strategies.  

 

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