Uncategorized November 24, 2021

Happy Thanksgiving! We are Thankful for You!

Here’s wishing you and yours a Happy Thanksgiving!

Thank you so much for reading this blog and supporting our team! Your trust means a lot to us. Thank you for working with Team Nancy Deprez for your important move and your most valuable asset.

We will be working through this holiday season assisting homeowners and home buyers like yourself, so feel free to reach out to us and we will respond to you in a timely fashion.

Thank you again, and all the best!

Nancy Deprez, Prescilla Romero, Ron Schwolsky, California Realtors

FeaturedListings November 9, 2021

Ocean & Beach Condos in Long Beach – Newly Listed!

Have you always dreamed of moving just a little closer to the beach? Woken up with the sound of waves, the sight of dolphins frolicking in the Pacific Ocean?

Dream no more, because I have 2 great condos to share with you, one with direct ocean views from the unit, and the other with street views but right at the Belmont Pier right in the heart of the action.

The first property is at 1750 E Ocean Blvd, #1207 Long Beach, at the Queen’s Surf, a majestic building perfectly located in Alamitos Beach in Long Beach. The building is one of the largest condo buildings on Ocean Blvd and was built in 1975.  The complex has a total of 204 units with a high concentration of ocean front condos that face towards the Pacific Ocean and the sandy beach. Unit #1207 is one of these that has full frontal ocean views!

The Queen’s surf building has many association amenities. The monthly dues are low compared to many high rises in the area and include use of the community ocean view pool, spa, fitness room, water, trash and direct access to the beach.  The complex offers covered parking and storage lockers as well.

Unit #1207 is one of the largest one bedroom units in the building, with over 850 SF of living space, a large balcony on the ocean, and has ocean views from the open kitchen, living and dining areas. The bathroom and bedroom are spacious, and there are washer and dryer hookups in the unit. The floor is a gorgeous travertine tile.

Don’t wait to see this unit – it may be gone! Offered at $759,000.

Next: 3939 E Allin Street #212, Long Beach, CA 90803

3939 E Allin is the address for the Belmont Shore Condominiums, a building right at the Veteran’s Pier at Belmont Shore. This prime location is right on the beach and walking distance to Second Street stores and restaurants, and is right near the Belmont Brewing Company, the market, and much more.

This upgraded 1 bedroom 1 bath condo is larger than most, as the balcony has been enclosed and expanded the living room area so that it is spacious and bright. The kitchen has granite countertops and stainless steel appliances and custom cabinets. This is a must-see condo in a great area that has you in the center of things!

Offered at $519,000.

Want to see either one of these great beach condos this week? Don’t hesitate to give us a call at 562-472-1435 or email me at NancyD@century21masters.com.

Blog November 3, 2021

The market shifts again…. inventory extremely low…. home prices firm… November 2021 real estate report Southern California

Just about a month ago, I was sharing with you in a newsletter that the market shifted, and buyers seemed to be backing off from buying, and property inventories in Southern California seemed to be building back up a little bit. Then came mid-October, and buyers came out again in droves, eager to take advantage of still low mortgage interest rates around 3.25% to purchase.

I personally worked with some buyers moving to Southern California for a job transfer, and they had to bid against 18 other buyers to get their dream house – a 4 bedroom 3 bath fully remodeled single story home, move in ready, for just over $900,000.

So, buyers were back in force in the month of October, and inventory took another nosedive down, and remains low now in the beginning of November. For example, in the city of Long Beach, the number of residential homes for sale currently is 261, while normal levels 2 to 3 years ago were over 500. We remain at about 50% of normal inventory levels of homes for sale.

Just yesterday, I was talking to another buyer who wanted to see a 2 bedroom 1 bath craftsman home in the Rose Park neighborhood of Long Beach. This house had been on the market for just 7 days, and was priced at $829,000. Hoping to arrange an appointment to see it today, the listing agent denied the request, because they just accepted an offer for above asking price.

So, we are back again with very lean inventory in the market, buyers bidding above asking price for houses, while the condo market continues to be brisk.

Other Observations

In the month of October, many people were moving. In our area of Southern California, many of my clients struggled to get moving trucks, movers, and moving companies to move their items into storage, or across the country to other states.

As remote working continues at many corporations, the idea of moving is still strong in people’s minds. And as many people approaching retirement age retire, many are seeking areas of lower tax rates and expenses to move to.

Also driving the movement of people may be the reports of inflation that are warning people of the potential increase in interest rates coming soon in the new year. While interest rates have remained low recently, they are also creeping up, and are expected to increase potentially a half a point by spring of next year.

Because the cost of borrowing affects not only buyers, but also sellers, in that if buyers’ borrowing capabilities go down, the price of homes may come down, we are seeing buyers buying at the end of this year, and also some sellers coming on the market to take advantage of strong prices in the area.

What buyers want: Houses super popular, and condos also going strong

Single family homes remain the darling in the market, and many individuals and families want house with more square footage, more rooms, more bathrooms, and good sized lots, preferably all on a single story.

Condos are also selling briskly in this market, though are more price and location sensitive.

Townhomes are popular with younger buyers who accept navigating stairs.

More and more buyers are demanding move in ready homes that don’t need any work, as the cost of remodeling and upgrading keep increasing.

Conclusions

The end of 2021 is approaching and it has been another very unique year. There has been a significant amount of real estate activity, with many people moving out of California, but at the same time, others moving into California, and many people moving from renting to owning their own home.

Common reasons for moving include job transfer, retirement, growing family, moving closer to family, and becoming more free to relocate due to being able to work remotely.

As we head into the holiday season, we expect those motivations for moving to persist, and real estate activity in Southern California to remain strong. If you know anyone with questions about their specific area or circumstance that my team and I can help with, please don’t hesitate to reach out! And please share with me your personal experiences and observations as well.