My thoughts exactly.
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LONG BEACH USED TO BE THE "AFFORDABLE" ALTERNATIVE TO OC AND LA, BUT AN INFORMATIONAL AND PSYCHOLOGICAL BARRIER IS PREVENTING LB FROM ACKNOWLEDGING THE SEVERITY OF THE ENSUING HOUSING CRASH, AS LONG BEACH REAL ESTATE PRICES NOW SURPASS THE OC IN MANY CASES. I CHALLENGE THE CONVENTIONAL WISDOM OF COMMISSION-HEADS WHO CLAIM "NOW IS A GREAT TIME TO BUY," AND I WANT TO HELP BUYERS ENSURE THEIR LARGEST SINGLE INVESTMENT IS A SOUND ONE.
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- el bee
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- Long Beach Housing Blog (aka RE in the LBC). reinthelbc [at] yahoo [dot] com.
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didja buy a house yet?
ReplyDeleteFreedomCM
Still trying (it's so weird to say "trying" -- it should, in a normal world, just be something you do or don't do).
ReplyDeleteI'm four weeks into an estimated "six-to-eight week" wait on a short sale. All of my paperwork is in order, the BPO has been completed for a while now, and things seem to moving at a decent pace...at this point it's just a waiting game.
There is not a whole lot of other inventory, but even what few properties are out there don't compare to this house. So, we'll see.
What's your status?
I've been looking to relocate for a while now. Have one offer, and am getting close on a couple of others.
ReplyDeleteHouses in the NYC suburbs, and Boston suburbs, are less expensive than Socal. And don't get me started on twice the house for half the price one finds at other East coast locales...
Was looking at a listing last night for a 1920s charmer gorgeously renovated, 3000sf on 1/4 ac in a streetcar suburb, so very walkable, where the PITI is what I'm paying for my little townhouse in the OC
Best of luck on the short!
FreedomCM
This market is killing me!!! I have had 3 offers beat out by cash. One below my offer price. It hurts being so right but still being wrong. Best on the short sale El.
ReplyDeleteMorekaos
When I was making offers, I was constantly getting beat out by the cash offers as well. I think it's because, as El Bee pointed out, the inventory is dreadful, and anytime a halfway decent property comes available, everyone starts fighting for it.
ReplyDeleteLucky for me I finally managed to purchase a dream home, in an awesome location. I was very fortunate.