Wednesday, July 23, 2008

Go Beach!

Peter Viles over at the excellent L.A. Land Blog posted a cool chart showing Southern California ZIP codes with the largest increase in foreclosures (among other useful information).

And guess what?

Out of all of SoCal, Long Beach made it into the Top Six! Go Beach!!

According to the chart, 90814 had 11 foreclosures compared to one in 2007, earning a 1000% increase. Nice!

Now, when you start out with one measly 2007 foreclosure, a 1000% increase isn't that newsworthy. But what is worth noting is that this is in 90814, hardly considered a crappy neighborhood. In fact, 90814 encompasses most of Belmont Heights, considered by many (including me) to be a very desirable part of town (well, parts of it, anyway). Either way, the median price is a whopping $570,000, meaning other so-called "immune" areas are going to start feeling the pressure from these foreclosure comps.

Some other notables:

90805: 119 foreclosures in second quarter 2008, earning the top spot in LB.

90807: 45 foreclosures in second quarter 2008 (the median home here costs $458,000)

90806: 38 foreclosures in second quarter 2008 (an increase of 850%)

Anybody still want to call a bottom (again)?


  1. rofl. I saw that and cheered as well. But c'mon guys, we can do better!! We can't let Culver City woop us!

  2. Hey El bee,
    You might want to check out my recent posting of some comments and observations about real estate in LB, HB, etc..

    Keep them coming,

  3. Eddie,

    Better luck next quarter, eh?

  4. HBRE,

    Welcome! I was just saying the other day how surprised I was that there are no Huntington Beach blogs. Such a unique city. I've logged years in HB AND LB and I'm looking forward to your commentary regarding LB vs OC/HB.

    The picture on your 7/24 post is INSANE (if you can call it a picture--Rorschach maybe?)

    Thanks for stopping by, keep it up!