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David Ethridge

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Real Estate Sales Information for Long Beach, April 2009

06-10-09
David Ethridge

Thanks to my friends Christy Van and Robert Strausas from USA National Title Co. in Huntington Beach for providing the report with this information:

Long Beach Sales by ZIP Code, Month of April 2009

SINGLE FAMILY HOMES

90802 - 2 homes sold, median price $190k
90803 - 12 homes sold, median price $723k
90804 - 11 homes sold, median price $419k
90805 - 52 homes sold, median price $218k
90806 - 18 homes sold, median price $325k
90807 - 18 homes sold, median price $385k
90808 - 26 homes sold, median price $475k
90810 - 17 homes sold, median price $260k
90813 - 11 homes sold, median price $172k
90814 - 6 homes sold, median price $640k
90815 - 23 homes sold, median price $484k

CONDOS

90802 - 23 condos sold, median price $190k
90803 - 11 condos sold, median price $346k
90804 - 8 condos sold, median price $142k
90805 - 6 condos sold, median price $80k
90807 - 5 condos sold, median price $129k
90810 - 2 condos sold, median price $51k
90813 - 7 condos sold, median price $150k
90814 - 7 condos sold, median price $300k
90815 - 5 condos sold, median price $390k

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Down Payment Assistance for First Time Buyers

05-23-09
David Ethridge

Some of you may have heard about the back-and-forth going on over the $8000 tax credit for first time buyers. They want first time buyers to be able to use the credit towards their downpayment, but current FHA rules prevent this. However, good news is coming down the road. Here's a message I got from my loan guy Steve Hageman over at Bank of America:

2 great opportunites are on the horizon for qualified homeuyers that are struggling to put together their 3.5% down payment. HUD Secretary Shaun Donovan stated at a meeting of the National Association of Realtors that "we want to enable FHA consumers to access the ($8,0000) tax credit funds when they close on their home loans so that the cash can be used as a down payment. The assistance will likely come in the form of a short term "bridge loan". Expect to have more news on this new program soon!
Also, CALhfa announced that they will be re-introducing their CHDAP down payment assistance 2nd Trust Deed by the end of this month. If the program is brought back in it's original form, it will be able to finance up to 3% of the purchase price toward a buyers down payment, leaving buyers with only having to come up with 0.5% down! First time homebuyer and minimum FICO score restrictions apply.

If you wanted to get pre-qualified for either of these programs, just email me at david@64david.com or call me at 562-673-6634.

Oh, and you can always search the MLS for available properties at my web site: www.64david.com

Want to know more about down payment assistance? Here's some of my previous blogs on the subject:

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Long Beach California Foreclosed Homes by ZIP Code

05-22-09
David Ethridge

If you were wondering just how many foreclosures there are in Long Beach, then here's some stats for you. This shows how many foreclosed homes are currently listed for sale on the MLS for each ZIP code in Long Beach.

90802 17
90803 6
90804 10
90805 46 (yep, more than twice as many as the next highest LB ZIP!)
90806 9
90807 10
90808 3
90810 14
90814 3
90815 1

Total 119

So 119 total foreclosed homes currently for sale in Long Beach, with more than 1/3 of them in ZIP Code 90805. Email me for my free list of foreclosures if you'd like details on any of these homes.

For an interesting comparison, take a look at the report I posted about 6 months ago: Long Beach Foreclosures By ZIP Code

The number of available foreclosures has dropped by more than 50% in the last 6 months in our area. This is due to a number of factors, including a moratorium on foreclosures during the end of last year, as well as an increase in sales. This says to me that the bottom is in sight and those of you who are waiting for prices to drop further had better get off the sidelines and start looking.

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Home Buyer Seminars in Long Beach - June & July, First Time Home Buyers Welcome

05-21-09
David Ethridge

We are hosting a couple of Home Buyer Seminars this summer for people who want to learn how to find and finance a home in the current market. This is great for first-time home buyers, but also for investors or for anyone looking to purchase a foreclosure or short sale.

The meetings will be held on Tuesday, June 16, at 7 p.m., and on Sunday, July 12, at 2 p.m. They'll be held in the meeting room fo the Pacific Yacht Club here at Shoreline Village, 419 Shoreline Village Dr in Long Beach. You must RSVP for this seminar by calling David at 562 673-6634 or emailing david@64david.com.

I'm going to attempt to record video of both meetings and post them to the web. Stay tuned for info on the "webinar" version.

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Free Residential Landscape Classes in Long Beach - Learn Drought Tolerant Landscaping

12-09-08
David Ethridge

There has been a trend in recent years here in California (and many other Western states) towards drought-tolerant landscaping or xeriscaping as it's called. Benefits include money saved on water, as well as environmental benefits. Did you know, for instance, that grass lawns require more chemicals and water per square foot than most other types of landscaping? And produces more runoff? About half of the average home's water use is for landscape irrigation.

The Long Beach Water Department is offering several free classes over the coming months to educate the public about drought tolerant landscaping and other ways to conserve water in your home and yard. Space is limited at all classes so sign up today by calling the water department at 562 570-2300.

Designing Your New Landscape
Dates: Jan. 10, Feb. 21, Apr. 11
Location: Long Beach Water Department, 1800 E. Wardlow Rd.

Choosing the Best Plants for You
Dates: Jan. 24, Apr. 25, May 23
Location: Aquarium of the Pacific, 100 Aquarium Way
Parking: Park in the structure and the cost is $6, but admission to the aquarium after the class is FREE!

Your Sprinkler Systems, Soil, Watering Schedule, and Fertilizers
Dates: Febr. 7, May 9
Location: Long Beach Water Department, 1800 E. Wardlow Rd.

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