OK figure this dichotomy out

16th floor drops 38.4% in price
http://www.redfin.com/CA/Long-Beach/488-E-Ocean-Blvd-90802/unit-1602/home/8183642

Penthouse goes UP 42% in price over the same time period in the SAME building
http://www.redfin.com/CA/Long-Beach/488-E-Ocean-Blvd-90802/unit-P16/home/8181728

a paradox wrapped in a conundrum encased in a puzzle delivered by a comedian

I smell euro money.

Morekaos, What do yo think will ever happen to that huge parking lot behind International Towers?  When I bought in the Pacific, I was assured there were no plans to ever build there, but it sure seems like some prime real estate that the city owns.

If they ever did build there, most of Aqua would lose it’s ocean view.

I doubt the city is eager to approve any new projects. Heck, they can’t even get their act together with the project on Second and PCH and that has been up for review a million times with three different developers.

I know RE in LBC is posting this on http://www.longbeachhousingblog.blogspot.com/ but in case you wanted to see an article about the auction at West Ocean

http://online.wsj.com/article/SB122100073257616909.html

What exactly goes through a Realtards mind when they look at the credit market the way it is, medians dropping and they are stuck with this POS bank owned shack without a bite for over 218 days and suddenly they have this John Travolta “Phenomenon”  epiphany that raising the price might actually work….WTF

Listing Price History
Date           Price
Feb 27, 2008 $724,900
Mar 11, 2008 $699,000
Mar 20, 2008 $649,000
Jul 08, 2008 $624,000
Jul 15, 2008 $595,000
Sep 23, 2008 $625,000

http://www.redfin.com/CA/Long-Beach/243-La-Verne-Ave-90803/home/7597250

I bet the homedebtor didn’t want to bring anything to the closing.  Their purchase in 2004 was $615k, so say they’ve been responsible (HAH) and paid it down to $595k, then add $35k realtron fee, that makes $620.

Or they HELOC’d up the place, and the bank rejected the SS price, who knows?

morekaos - 02 October 2008 10:33 AM

What exactly goes through a Realtards mind when they look at the credit market the way it is, medians dropping and they are stuck with this POS bank owned shack without a bite for over 218 days and suddenly they have this John Travolta “Phenomenon”  epiphany that raising the price might actually work….WTF

Listing Price History
Date           Price
Feb 27, 2008 $724,900
Mar 11, 2008 $699,000
Mar 20, 2008 $649,000
Jul 08, 2008 $624,000
Jul 15, 2008 $595,000
Sep 23, 2008 $625,000

http://www.redfin.com/CA/Long-Beach/243-La-Verne-Ave-90803/home/7597250

I wouldn’t pay a dollar over $200k for that little shack.

but they aren’t making anymore ‘beach front’ land!

freedomCM - 02 October 2008 04:13 PM

but they aren’t making anymore ‘beach front’ land!

Ok, but Long Beach isn’t Manhattan Beach, La Jolla, or Santa Moncia.

usctrojanman29 - 02 October 2008 07:34 PM

freedomCM - 02 October 2008 04:13 PM

but they aren’t making anymore ‘beach front’ land!

Ok, but Long Beach isn’t Manhattan Beach, La Jolla, or Santa Moncia.

Well, you’re clearly biased against Long Beach and refuse to recognize it for the World Class City(tm) that it truly is. 

I bet you think that just because Laguna Beach has “culture,” “low crime,” and “good schools” (like anybody cares about that superfluous crap) that they have somehow earned the right to appropriate the “LB” namesake for those cute, oval-shaped bumper stickers. Lawsuit pending, I promise you.

You’re correct that Long Beach isn’t Manhattan Beach, La Jolla, or Santa Monica—it is far superior!  The asking prices in Long Beach clearly demonstrate that the city is a much cleaner, safer, and more impressive worldwide destination than any of those no-name cities.  Santa Yawnica, more like. 

FreedomCM correctly states, “they aren’t making anymore ‘beach front’ land!”  You know what they’re making even less of?  Land half a mile from the beach on the other side of 2nd Street.  Supply and demand, baby!  $723 per square foot for that La Verne property is a STEAL!

RE in the LBC - 03 October 2008 11:19 PM

usctrojanman29 - 02 October 2008 07:34 PM

freedomCM - 02 October 2008 04:13 PM

but they aren’t making anymore ‘beach front’ land!

Ok, but Long Beach isn’t Manhattan Beach, La Jolla, or Santa Moncia.

Well, you’re clearly biased against Long Beach and refuse to recognize it for the World Class City(tm) that it truly is. 

I bet you think that just because Laguna Beach has “culture,” “low crime,” and “good schools” (like anybody cares about that superfluous crap) that they have somehow earned the right to appropriate the “LB” namesake for those cute, oval-shaped bumper stickers. Lawsuit pending, I promise you.

You’re correct that Long Beach isn’t Manhattan Beach, La Jolla, or Santa Monica—it is far superior!  The asking prices in Long Beach clearly demonstrate that the city is a much cleaner, safer, and more impressive worldwide destination than any of those no-name cities.  Santa Yawnica, more like. 

FreedomCM correctly states, “they aren’t making anymore ‘beach front’ land!”  You know what they’re making even less of?  Land half a mile from the beach on the other side of 2nd Street.  Supply and demand, baby!  $723 per square foot for that La Verne property is a STEAL!

I work in downtown Long Beach and lived in Belmont Shores for a year.  My opinion is that Huntington Beach is better than the Long Beach Belmont Shores area.  $723/sf a steal for that shack?  hahaha I got a bridge that I’d like to sell you.

usctrojanman29 - 03 October 2008 11:33 PM

RE in the LBC - 03 October 2008 11:19 PM

usctrojanman29 - 02 October 2008 07:34 PM

freedomCM - 02 October 2008 04:13 PM

but they aren’t making anymore ‘beach front’ land!

Ok, but Long Beach isn’t Manhattan Beach, La Jolla, or Santa Moncia.

Well, you’re clearly biased against Long Beach and refuse to recognize it for the World Class City(tm) that it truly is. 

I bet you think that just because Laguna Beach has “culture,” “low crime,” and “good schools” (like anybody cares about that superfluous crap) that they have somehow earned the right to appropriate the “LB” namesake for those cute, oval-shaped bumper stickers. Lawsuit pending, I promise you.

You’re correct that Long Beach isn’t Manhattan Beach, La Jolla, or Santa Monica—it is far superior!  The asking prices in Long Beach clearly demonstrate that the city is a much cleaner, safer, and more impressive worldwide destination than any of those no-name cities.  Santa Yawnica, more like. 

FreedomCM correctly states, “they aren’t making anymore ‘beach front’ land!”  You know what they’re making even less of?  Land half a mile from the beach on the other side of 2nd Street.  Supply and demand, baby!  $723 per square foot for that La Verne property is a STEAL!

I work in downtown Long Beach and lived in Belmont Shores for a year.  My opinion is that Huntington Beach is better than the Long Beach Belmont Shores area.  $723/sf a steal for that shack?  hahaha I got a bridge that I’d like to sell you.

SC you do realize LB is snarking? Believe me, I live pretty close to this POS and this bank manager who is overseeing this sale is smoking something real good. Probably walked from his downtown LB loft to the corner to buy it

FYI, it’s my birthday. That’s all I wanted to say. Well, that and thank you for the great discussion on the IHB forums.

Good times!

happy belateds, elbee

(BTW, elbee has a great post on his site today of a POS condo that went for $280k a few years ago just selling for $70k.  fun reading)

In the same building as the $70,000 2 bed/2 bath is this gem asking $142 per square:

http://www.redfin.com/CA/Long-Beach/1450-Locust-Ave-90813/unit-217/home/7614698

Boy, that fish-eye camera lens sure makes 728 square feet look expansive.

Geez, why even bother taking the picture ?

At least the room is up to code. It has a smoke detector.

In the shore, last purchase $1,300,00.00 now half off and 371 a square foot. My how the mighty have fallen.

http://www.redfin.com/CA/Long-Beach/209-Glendora-Ave-90803/home/7597200

too bad its on the wrong side of 2nd, badly outdated, and a fixer.

just what i want for that price (not), but it is a mighty fall!

Check it out $379 a square foot in the Shore on “new” construction. We are getting better folks.

http://www.redfin.com/CA/Long-Beach/25-Belmont-Ave-90803/home/12284836

wow, that one is actually nice.  still overpriced, but nice!

What they don’t tell you is it is right behind a Shakeys Piza

Some people consider that end of Belmont Shore to be the ghetto (if there can be such a thing in BS).  Tons of dirt cheap studio apartments on that end. A friend lives in one of these Murphy bed wonders and he has relayed some scary stories of shady neighbors, overdoses, knock-down, drag-out domestic disputes, etc.  Plus, with so many people crammed into such a tiny area, parking is an absolute bust.  Trying to find a spot the night before street sweeping takes years off your life. 

In addition to the Shakey’s (or is it a Round Table?  Either way, pizza dough made by Big League Chew), it backs to a busy 7/11 and right across the street is Yankee Doodle’s with their classy clientele. 

Another weird thing about this area of the shore is the wild parrots.  Shrieking, maddening, parrots.  They are so unbelievably loud and sometimes they’ll go all night.  Plus, if the only parking spot you can find on Ocean is under a tree, Lord have mercy on your clear coat. We’re talking Pterodactyl turds.

This house is pretty nice, no doubt.  But there are some (potentially deal-breaking) aspects of this location that, as morekaos pointed out, a MLS listing won’t tell you.

Round Table…I stand corrected