Check out this pain. This is a bad divorce situation but at least they are trying to dump it

http://www.redfin.com/CA/Long-Beach/5816-E-Appian-Way-90803/home/7592345

Listing Price History
Date           Price
May 13, 2008 $1,350,000
May 19, 2008 $1,249,000
May 19, 2008 $1,199,000
Jul 07, 2008 $1,098,000
Jul 13, 2008 $999,000
Aug 05, 2008 $899,000

OUCH,  that’s gonna leave a mark for sure

The parking lot view bites, and being across from Marine Stadium would not be my ideal choice.  Mother’s Beach also brings in characters at all hours….

No doubt. Monday mornings it looks like Disneyland exploded. No thanks. My bigger point is that the prices, even on the Island, are falling. Still too far from reality but they are making progress.

Trooper - 11 August 2008 02:06 PM

The parking lot view bites, and being across from Marine Stadium would not be my ideal choice.  Mother’s Beach also brings in characters at all hours….

I agree.  Living directly across from Mother’s Beach would probably lose its luster pretty quickly.  The agent seems to be aware of perceptions and is tackling them in the listing description:

“Plus, for the 9 off season months of the year, the beach is nearly deserted. There are no homes on the other side of the street and none of their cars.“

Dude, it’s Southern California.  We don’t have “off season” at the beaches.  And if we did, we most certainly don’t have nine months of it.

That’s an attractive price compared to nearby properties (and Zillow estimates), but I have a feeling showing the house in the middle of summer—with the crowds and cars right across the street—has something to do with the number of days on market.

Ok, for the two buildings at AQUA.

388 Ocean
Currently Total Listed for Sale (excluding builder units): 11
Price Ranges from $299,990 - $989,000
Short Sales: 4
Note: Surprisingly the $299,990 is not one of the short sales

488 Ocean
Currently Total Listed for Sale (excluding builder units): 11 (crazy, the same # available)
Price Ranges from $299,990 - $989,000
Short Sales: 2

So we are only showing 22 total available at AQUA between both buildings.  The builder is sitting on like 35 units are so, which may be destined for the Auction block like those of West Ocean LB.

Wow!! This divorce must be going very badly. They just lopped off another $100,000.00.  Yikes

http://www.redfin.com/CA/Long-Beach/5816-E-Appian-Way-90803/home/7592345

Listing Price History
Date Price
May 13, 2008 $1,350,000
May 19, 2008 $1,249,000
May 19, 2008 $1,199,000
Jul 07, 2008 $1,098,000
Jul 13, 2008 $999,000
Aug 05, 2008 $899,000
Aug 13, 2008 $799,000

jbridges, thanks for the Aqua update !  I’m surprised more haven’t gone under….... soon enough, I guess. 

On another note, while watching the Olympics this morning a commercial for the auction of West Ocean aired !  LOL !

DOH!!!!  That’s half off.

388 E Ocean Blvd #P15
Long Beach, CA 90802

Price: $700,000

Listing Price History
Date           Price
Jun 16, 2008 $1,000,000
Jun 23, 2008 $700,000
Aug 07, 2008 $550,000
Aug 08, 2008 $700,000

Date         Price       Appreciation
Jul 03, 2006 $1,022,500 —
Jul 11, 2007 $1,350,000 31.3%/yr

http://www.redfin.com/CA/Long-Beach/388-E-Ocean-Blvd-90802/unit-P15/home/8181586

Thanks morekaos !  Great find.

Hey, does anyone know how the auction of the West Ocean Towers went yesterday ?

Not totally sure what happend there…a bit of canabalism going on though.

“Maddeningly little information to offer on the results of last weekend’s auction of 39 condos in Long Beach. As previously noted, developer Citi Property Group held a public auction of new condos (the minimum bid on a 834-square-foot unit that was previously listed at $534,000 was $275,000). David Parsky, principal at Citi Property Investors, tells Curbed that “attendance and results of the auction were very positive.“ He also said they’ve elected not to release any sales information until sales on the condos have closed. Meanwhile, a resident who lives in West Ocean One tower, the other tower (different developer) reports: “It has been an interesting couple of weeks here; we’ve seen dueling sign spinners competing on behalf of the TWO onsite sales offices; one for the remaining Tower 1 units owned by the original Developer (Intracorp) and one for the Tower II units being auctioned by the investor-owner Citi Property Investors…“ Spinning for dollars in Long Beach!“

http://la.curbed.com/tags/west-ocean-two

not sure of the accuracy but some bloggers on curbed.la say…

“31 sold. They stopped the auction and pulled the remaining units out when the last two went for barely above the opening bid. I would not call it a flop. Units generally sold at about a 35% discount to the original (pie in the sky) asking prices.“

“Internal sources provided a total of 14 units sold at a price slightly above minimum. Turnout was very light and the expectation was for a blow-out. No one is saying what really happened”

Holy crap.  Minimum bid for some of the units was $275.  I would have bought one for that….wow.

Does anyone happen to know the HOA fine—ERR, fee at the West Ocean Towers?

I found this realtor’s link showing the HOA to be $675 for a 2/2.

Property Type     :    Condo/Townhome    
Status   :    ACTIVE
Subdivision   :    Downtown Area;Alamitos Beach
Year Built   :    2007  
HOA Fee   :    $675

* There is also a 1/1 short sale at Aqua, $269K.
HOA $336

Nice !  It’s getting there.

OMG, my old condo is for sale !  Can someone keep track of this one for me ?  When was it listed and have there been any price changes ?  I know the realtor, but don’t want to call and ask.

850 E. Ocean Blvd., Long Beach

Tiny little thing, but I was oceanfront !  I see the condo fees have gone up $200 in the past 3 years.  I sold in 2/05 for $515 (my asking was $550 back then)  New MLS R807866

This is my little kitchen remodel !

This buildng is holding up great Troop. On a cursory look I find only one unit out of around 14 for sale that is underwater. The last 6 months of sales shows alot going out at a profit. Not bad for that section of LB

http://www.redfin.com/CA/Long-Beach/850-E-Ocean-Blvd-90802/unit-1110/home/7611767

Oh my gosh.  Just by looking at the pics, I can tell that no one has lived in the unit since I sold it.  Wow.  Thanks for the link morekaos!

You think this place has been empty for three years?  What up with that?  Also 20 pictures and only three picture of the condo itself?  Is this place that small Troop? Only three angles and you’re out in the hallway?

Yes, it’s that small.  It has a huge kick ass bathroom and walk in closet, not sure why she didn’t photo them.

No way more than one person would be comfortable in this unit.  It was tight even for me and my stuff.

I’m guessing some investor bought it.

You know, looking again at the living room pic, that’s my fake plant out on the balcony.  These pics must be from when I sold it, so perhaps some one has lived in it since.  That’s the carpet I had put in just prior to list and it has no furniture indentations on it.

West Ocean Two Auction 8/24

I attending the auction last week with great interest. I currently enjoy renting a High Floor( 20th+ floor)  in a 01 Unit with Incredible 180 degree views of the Pacific, Downtown Long Beach to LA at West Ocean One. I estimate I am saving around 3k-4k Per month renting over purchasing . I would like to purchase a unit there if the pricing was closer to rental parity-but that may take a few years!
.
Although some of the start prices were tempting at the auction- I did not bid because I feel the prices will end ultimately going lower and not go back up for a while.  I was actually SUPRISED with some of the auction results-almost shocked! Mostly how the East ( Ocean/City ) Views which are so much better then the West views in many cases barely carried a premium over the west views.

Example- unit 1502 closed for 533k with great Ocean/City views (1,040 sq ft)  and 1505 same floor plan on opposite site with views of mostly Crane/bridge views closed at 505k… My opinion is that the east views(like the 1502 unit)  should be worth 200k or more better then the west view.. but what I do I know- I would rather view the Pacific Ocean and downtown Long Beach over loading zone for LB Harbor….. In general I though the Better East views would sell for a lot more and the West not as good views would sell for a lot less… I was WRONG ON BOTH ACCOUNTS !!

Here is the pricing that I recorded at the Auction… Do you think anyone got any good deals?? For info on size of the units and floor plans go to www.auctionlongbeach.com or www.westoceanlb.com..
Note- HOA Fees are around $700-$900 a month depending on unit size

                                        104 SW View 1,397 sq ft.  - 533K   105 NW 1,654 - 675K        
501 NE 893 334K,                    503 SE 1,397 522K,  505 W 1,040 383K,  506 NW 893 313K
601 NE 893 344K   602 E 1,040 394K                                               606 NW 893 325K
804 SW 1,397 570K
802 E 1,040 461K                       803 SE 1,397 591K   805 W 1,040 443K   806 NW 893 368K
                                      1103 SE 1,397 691K
                                      1203 SE 1,397 698K
1401 NE 893 415K   1402 E 1,040 546K                       1404 SW 1,397 709K
1501 NE 893 437K   1502 E 1,040 533K 1503 SE 1,397 750K 1504 SW 1,397 712K 1505 W 1040 505K
1506 NW 893 505K
1701 NE 1,323 692K 1702 SE 1,651 955K
1801 NE 1,323 665K                       1803 SW 1,651 815K
                    2102 SE 1,651 995K   2103 SW 1,651 889K

Savinglots$$$Renting - 01 September 2008 02:45 PM

Note- HOA Fees are around $700-$900 a month depending on unit size

I understand HOA fines come with the condo-buying territory (just like lawnmowers with detached houses), but $700 to $900 a month is nuttier than squirrel sh*t.

We are talking about adding another $252,000 to $324,000 to the life of the loan.  None of which you can write off! I suppose there is a “Graciously impressive lobby,“ but I still don’t get it.

Thanks for the great information, Savinglots$$$Renting.

So that looks like 31 of 39 condos for sale went to bidders. 80% sales in one day looks to be a success.

New email today from One West Ocean…..closeout sale ! 

One West Ocean
THE ONE WEST OCEAN CLOSEOUT SALE!

UNIT   SQ. FT.  PREVIOUS PRICE   SALE PRICE
 
205     1414     $686,700           $462,000

206     1414     $687,655           $463,000  

303     1426   $711,475           $526,000
     
505     1414   $712,470           $487,000
       
506     1414   $721,361           $496,000
     
703     1426   $782,330           $597,000  

1504   1636   $859,640           $676,000
     
1603     1735   $1,034,618         $845,000
     
2103     1735   $1,142,000         $890,000  
2004     1636   $976,000         $735,000  

2104     1636   $1,048,000         $755,000
 
2404     1636   $1,094,925         $807,000

Please allow this email to serve as pre-public notice to those of you on our One West Ocean Interest List that this remarkable Closeout Sale is now beginning. It will remain in place through sellout. It’s an historic acquisition opportunity, but one that is clearly limited, both in numbers and time.

You are advised to call or see us immediately to further explore and take advantage of this remarkable (and final) sales event at One West Ocean in downtown Long Beach.
   

One West Ocean Sales
(562) 436-2326
westocean@intracorpcompanies.com
www.IntracorpCompanies.com
 

One West Ocean Sales Gallery
400 West Ocean Blvd.
Long Beach, CA 90802

Is this the other tower? The one that didn’t have the auction?

I might buy this place for my pets

http://www.redfin.com/CA/Long-Beach/438-Cedar-Ave-90802/unit-14/home/7620566