Belmont Heights Values and Living on Ximeno Avenue

I recently ran some graphs for the Belmont Heights area of Long Beach. The first graph shows Bemont Heights for this year.  My boundaries for this graph are Nieto Avenue to the east, 7th Street to the north, Broadway to the south and Redondo Aveenue to the west.

BH  october

 

This second graph really shows what has happened since 2001. Look at the peak and how far off the peak  the market still is.

BH october since 2001

This last one I did because I was curious as to values on Ximeno versus the rest of Belmont Heights.  The area I used  was Redondo Avenue to the West, 7th Street to the north(excluding homes on 7th), Park Avenue to the east, (Excluding homes on Park in the Graph). Broadway to the south.

Ximeno Vs BH

 

If you  need an Appraiser in Long Beach, pleas call 562-673-1138

 

 

 

 

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October 7, 2013   No Comments

Speaking to Real Estate Agents at Keller Williams Pacific Estates – Long Beach

Speaking to RE agents in long Beach

I recently had the pleaseure to speak to agents at Keller Williams Pacific Estates office in Long Beach.

I brought them up to speed on the what lenders are requiring appraisers to do. How to pick comparables, what a FHA inspection is comprised of, and most important, “that they can talk to appraisers.

We then did Q&A for about a half hour.

If you would like me to come talk to your office, please call me 562-673-1138

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July 2, 2013   No Comments

The cost of a Busy Street

Greenbrier vs Clark Avenue

I was recently doing an appraisal of a house on Greenbrier Road in zip code 90815. This street runs paralell to Clark Avenue. Clark is a busy north/south 4 lane road, and Greenbrier is just to the east.

I went back to 2000 and pulled all the sales between Atheron and Stearns and plotted them on a chart. What is shows is a linear difference of about $60,000 from Clark to Greenbrier. Doing an appraisal, I would have to make a location adjustment for any comparable on Clark Avenue vs an interior location.

If you find this interesting and need any charts or have any Appraisal need in Long Beach, please call 562-673-1138.

So, you

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September 8, 2011   No Comments

What have 1 Bedroom Homes done in Long Beach since 2000?

I recently did an appraisal of a 1 bedroom in Long Beach. During the course of my research, I wanted to see what 1 bedrooms have been doing since 1/1/2000.  I created this chart for all of  Long Beach. The higher values on the chart are from the Eastside and the Peninsula. What is most interesting to see,  is that during the peak around 2006, there are no sales under $200,000.  Think about that, these are typically first time buyer homes that are between 550 s.f. to 875 s.f. on small lots. To me, when I did a few appraisals of these back then, I would often think that this is just wrong, someone is willing to pay over $200k for a 1 bedroom, really?  But the comps actually supported those values.

Here is a link toa pdf of the chart.

1 Bedroom since 2000

If you have any Appraisal needs in Long Beach or the surrounding area, please call 562-673-1138.

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July 18, 2011   No Comments

Alamitos Heights different values on both sides of 7th Street

 

Above 7th Street Vs Below 7th Street (this is a PDF Version)

 

I was doing an appraisal of a house here in the  Alamitos Heights area of Long Beach. I have always known there is a differance in values from one side of 7th Street to the other , so I decided to graph. I used all closed sales from 1998 until 6/30/2011. I will work on a graph that will tell us what the average percentage differance is and post it soon.

If you  need have any real estate appraisal needs in the greater Los Angeles and Long Beach Area, contact me at 562-673-1138, www.wallaceres.com

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July 1, 2011   No Comments