799 Orizaba Avenue, Rose Park, Long Beach CA

Please stop by and see me this Sunday at 799 Orizaba Avenue in Long Beach. I'll be holding an open house at this classic Spanish style home across the street from Rose Park and refreshments will be served! Listed at $449,000, the home offers 2 bedrooms plus a parlor, with a total of 1400 square feet. This is a rare opportunity to own a home across the street from this historic neighborhood's namesake park.

If you'd like to take a virtual tour in the meantime, visit our website at http://www.ShowMeHome.com or call 562-961-1415.

 

 

It's official. The tax credit for first-time homebuyers was extended today. President Obama signed leglislation that extends the $8,000 tax credit to contracts that are signed by April 30, 2010 and closed by June 30th. The credit was set to expire after November 30th.   Additionally, the bill creates a $6,500 credit for those who buy a home after living in their current house at least five years. The current credit defines a first-time homebuyer as someone who has not owned a residence within the past three years. The credit will be available only for the purchase of principal residences priced at $800,000 or less.

The bill will raise the adjusted gross income cap to $125,000 for single filers and $225,000 for joint filers. The amount of the credit currently begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

The IRS reported that through mid-September, 1.4 million tax returns had qualified for the credit. Some portion of those returns represents buyers who took advantage of an earlier version of the tax credit, which was only worth $7,500 and has to be repaid over time.  The National Association of Realtors estimates that 1.8 million homebuyers will have used the credit by the end of November -- at least 355,000 of whom would not have bought a home without the tax break.

Locally, I've seen a number of buyers drawn into the market due to the homebuyer credit combined with low interest rates and prices. The low inventory is still making it challenging for home buyers to get offers accepted, but for those who persevere, there are some good deals.

 

As the deadline for the $8,000 tax credit for qualifying first-time homebuyers gets closer, it looks like lawmakers may extend it until next year. A measure is being seriously discussed on Capitol Hill.

In our local real estate market, the credit has definitely breathed life into a struggling housing market. While most people wouldn't buy a home solely because they'd get a credit, that combined with low interest rates and low prices has drawn lots of buyers off the fence and into the market.

The tax credit extension has received support from both Republicans and Democrats but the measure still has not come to a vote.

 

By Melissa Pamer, Staff Writer
Article Launched: 10/23/2008 10:08:23 PM PDT

Despite a lingering dispute over a planned Carson-area high school, Los Angeles school representatives and local elected officials donned hard hats and grins Thursday to break ground on the campus.

The Carson High School drill team and marching band performed, as did first-graders from neighboring Dominguez Elementary School, while construction workers operated heavy machinery at the nearby building site.

Full Story Here

Long Beach Homes for Sale

 

By ALEX VEIGA
AP Business Writer
October 26, 2008

Heavy discounting on foreclosed homes and low interest rates continued to power a homebuying spree across the West in September, sending sales of existing homes in the region soaring at an annual pace reminiscent of the days of the housing boom, according to two reports Friday.

About 100,000 existing homes and condos were sold last month in the 13-state region. Without adjusting for seasonal factors, sales were up nearly 43 percent from the same month last year, but declined 9.6 percent versus August's total, according to the National Association of Realtors.

With sharply discounted foreclosures making up a larger slice of overall sales, the median price in the West plunged almost 19 percent from a year ago to $253,600 - slightly higher than what the median was five years ago, the association said.

Full Story Here

Long Beach Homes

 

DailyBreeze.com
By Melissa Pamer, Staff Writer
October 26, 2008

Among the dozens of red-tile rooftops that now dot Rancho Palos Verdes' Long Point, workers are beginning to put the finishing touches on a massive seaside resort that has finally taken shape in recent months.

After more than a decade of planning, Terranea Resort is readying for its June debut, when all elements of the upscale pleasure dome are set to open simultaneously - including a 360-room hotel, 33 meeting rooms, 20 bungalows, 82 casitas and villas, a nine-hole golf course, three restaurants and a spa.

Full Story Here

Homes in Long Beach

 

Press-Telegram
10/26/08

The California Foreclosure Institute is holding a free, two-hour workshop for investors and Realtors on how to get started finding and buying foreclosure properties on Tuesday.

The workshop from 6:30 to 8:30 p.m. is at Long Beach Main Library, 101 Pacific Ave. Reservations required. To register, go to www.ForeclosureWorkshop.net or call 310-379-0101

Full Story Here

Orange County Realtor

 

Los Angeles Times
By Michael A. Hiltzik
October 27, 2008

In a harbinger of what may be a flood of similar disclosures, City National Bank in Beverly Hills said Sunday that it would receive a $395-million capital infusion from the U.S. Treasury as part of the government's $250-billion bailout program.

The bank said it had no "explicit or implicit understanding" with federal regulators about how it would use the money -- whether to increase lending in the community or acquire a specific bank.

But Russell Goldsmith, chief executive of the bank's parent company, City National Corp., said the investment "clearly enhances our financial capacity to make acquisitions and . . . to lend to a larger degree."

With $12.2 billion in deposits, City National is the largest bank based in Los Angeles County and second-largest independent bank in California.

Full Story

Long Beach Real Estate

 

Adorable Spanish style home
6165 Brayton Ave, Long Beach
(Thomas Guide #: 765F1)



Listing Status: Active
Offered At: $265,000
(Show Monthly Payments)
2 Bedrooms, 1 Baths
Detached Single Family Home.
867 Sq. Ft. one story
4680 Sq. Ft. Lot
Built in 1931
Association Dues: 0
2 Car Garage.

Property Features
  • Tile Floors
  • Arched Doorway To Formal Dining
  • Coved Ceilings
  • Ceiling Fan
  • Original Built In Cabinet In Dining Room
  • Faux Firelplace
  • Custom Paiting
  • Fenced Front Yard
  • Covered Patio
  • Bonus Room In Garage
  • Long Driveway
  • Lush Landscaping
  • Property Details
    Adorable Spanish style home features tiled floors, coved ceilings, custom paint, and lots of charm! Large living room plus quaint formal dining room with built-in corner cabinet. Newer kitchen has lots of storage and cabinet space. Fenced front yard with lush landscaping plus a nice back yard with covered patio. 2 car garage currently used as bonus room with separate laundry room but a long driveway provides plenty of parking. Don't miss this Lovely home!
    For More Information Contact:
    The Shannon Jones Team
    Web Site: www.shannon4re.com
    E-Mail: info@showmehome.com
    (562) 961-1415
    (562) 896-2456
    Cell: (562) 896-2456
    Keller Williams Coastal Prop.

    For more information
    on this property,
    or to make arrangements to
    view this property,
    Click Here!
     

    Modern California Bungalow
    752 Loma Ave, Long Beach
    (Thomas Guide #: 795J6)



    Listing Status: Backup Accepted
    Offered At: $489,000
    (Show Monthly Payments)
    2 Bedrooms, 2 Baths
    Detached Single Family Home.
    964 Sq. Ft. one story
    3840 Sq. Ft. Lot
    Built in 1919
    Association Dues: 0
    2 Car Garage.

    Property Features
  • Open Floor Plan
  • Wood Laminate Floors
  • Remodeled Eat-in Kitchen
  • Stainless Stell Appliances
  • Remodeled Bathrooms
  • Front Porch
  • Newly Landscaped Backyard
  • Central Air & Heat
  • Updated Plumbing & Electrical
  • Inside Laundry
  • 2 Car Detached Garage
  • Property Details
    Past the old-fashioned front porch of this California bungalow is a modern, re-built home with open floor plan & wood laminate floors. The remodeled, eat-in kitchen features stainless steel appliances & custom tile. The home has spacious bedrooms & remodeled bathrooms. This home offers inside laundry, central air and heat, dual pane windows & updated plumbing/electrical. The fenced back yard has a patio w/built-in barbecue and has been newly landscaped. Walk to shops & restaurants.
    For More Information Contact:
    The Shannon Jones Team
    Web Site: www.shannon4re.com
    E-Mail: info@showmehome.com
    (562) 961-1415
    (562) 896-2456
    Cell: (562) 896-2456
    Keller Williams Coastal Prop.

    For more information
    on this property,
    or to make arrangements to
    view this property,
    Click Here!
     
     
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    Shannon Jones, Long Beach Real Estate

    Long Beach, CA

    More about me…

    The Shannon Jones Team

    Office Phone: (562) 961-1415

    Email Me



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