Long Beach Real Estate Trends of Single Family Homes for November 2008 in 90802 Downtown Area
What do you get for 3.4 Million? You get 50 feet of beach frontage with 180 degree ocean view…wake up in the morning to view Catalina to the entire coastline of Long Beach. This three bedroom, four bathroom home has 3,100 square feet built in 2008. It is a tri-level home with upgrades for fit for a king…take a look at this luxury Long Beach home.
Accepting Backup Offers or Not, What is the Gig?
When an offer comes in from a buyer, depending on the offer, your listing agent may suggest that you accept backup offers just in case the current buyer does not continue with the purchase. How can you tell? I think it depends on the offer that the buyer wrote with his/her agent. If it appears weak in terms of not having a large enough deposit or down payment, it doesn’t hurt the seller to accept backup offers.
Now, those backup offers do not automatically knock out the buyer who the seller has accepted an offer with…they are just in case type of offers.
Currently, there are 3 homeowners of single family homes in 90802 accepting backup offers. 4 additional properties are in escrow with the status as pending sale.
So, what sold in the month of November 2008 in 90802 for single family homes?
Closed Sales in November 2008
- # of single family house sales: 4
Avg. Listed Price: $277,875
Avg. Square Feet: 973
Avg. $/Square Foot: $280
Avg. Days of Market: 31
On average, these listings sold for 12.88% less than asking price.