Call me! I'm outstanding and I'm liberal with referral fees.
Katie Cotter
Century 21
562 230-0896

I hate to interupt the "I am the best Realtor in Long Beach" party. But, perhaps you should refer you friend to an economist and save her thousands of dollars over the near term.

Apart from a few “the world is flat” realtors, everyone realizes that residential real estate prices are falling in Los Angeles County. Those that are expecting a quick turn around from this bubble are dreaming. The last cycle took about 11 years to reach peaking pricing from the previous peak. Here are your Los Angeles County vanilla medians between 1989 and 2000: http://www.laalmanac.com/economy/ec37.htm

1989: $214,831
2000: $215,900

Pretty amazing, someone who purchased the “median home” for 214,831 sold for 215,900 11 years later. However, this bubble appears even larger that the 1989 run up, as depicted in the following graph: http://latimesblogs.latimes.com/laland/2008/04/where-we-stand.html . Granted prices are falling faster, so perhaps we can reach a bottom faster.

In my opinion this would generally be a terrible time to “invest” in real estate, unless she must buy now (because of a 1031 exchange, for example). All leading indicators are pointing in the same direction as to the Los Angeles market, (i) inventory has increased, (ii) sales transaction volume has slowed dramatically, (iii) lending standards have tightened (pulling thousands of potential buyers from the market), (iv) notices of defaults and foreclosures are at records levels, (v) the economy is slowing (looking more and more like a recession), (vi) literally thousands of high paying mortgage and other real estate related jobs have been lost in southern California over the past year and (vii) the mania which surrounded the real estate market a few years ago has been replaced by a conservative caution steering people to other investment classes. All of these things will put downward pressure on pricing for some time to come.

The reality is that residential prices will almost certainly be lower later this year, likely lower in 2009 and possibly even lower in 2010. Real estate cycles take many years to play out and we are at the early stages of a down cycle.

With that said, if your friend can truly afford the condo with a large down payment and conventional financing and she doen't care about prices dropping further, consider the purchase. But she SHOULD NOT purchase with the expectation of future price gains for a long time. If history is any guide, prices will not rebound quickly when the bottom is finally reached.

Best of Luck,
NewportFiji

Hello A, I would be happy to speak with your friend. I have sold quite a few condos in downtown Long Beach in the years I've been in real estate, and whether it's new or existing construction, buyers should be fully informed about their ownership. Please contact me at 562-896-2609, and I would be happy to pay a referral fee to you as well at the close of escrow.

I thank you all for responding. I have forwarded your information to my client, and will be in touch with you as she requests that you contact her. I know she needs an outstanding buyer’s agent! She is looking for a condo in the 450,000-550,000 range that are move in ready and updated.

Hi there A. I would like to offer my services as a buyers agent to your friend. I grew up in Long Beach and know all the new developments. I offer platinium level service and I am confident your friend will be delighted with the results we can achieve. Please feel free to call or e-mail me for information on how I can help your friend.
Of course a referral fee will be passed.
Kind Regards
Michael Barron
Realtor
First Team Estates
(714) 552-6817

The # 1 Selling Independent Real Estate Company in CA

Hi A.,

My goal is to so delight your friend the she will thank you for the referral! Of course, I'm willing to pass on a referral fee.I work for Century 21 Landmark Properties in Long Beach & have lived in Long Beach for many years. I'm curious as to which property your friend is interested in. There are a few nice new ones
near the beach.

Please phone or email if you have any questions about how I work.

Karen Miller
(562)756-4144
info@justsoldbykaren.com

Hi Morgan,

I am an “Out Standing “Realtor. I am a native of in Long Beach. I have been investing here since 1984 and have been a Realtor for four years now. I am very familiar with the local market and would be very happy to assist your friend in buying a new condo.

I will look forward to hearing from you

Cyndie Kalina
Realty Executives
555 East Ocean Blvd. #401
Long Beach, CA 90802

(562) 673-5777

A. Morgan,

Hi, it would be my pleasure to help your friend. I work for Coldwell Banker in Long Beach and happen to be a local realtor for the area. Long Beach is a terrific place to live, it offers so many different life styles. There have been quite a number of new developments, which one is your friend referring to. Feel free to email me at loubandb@ca.rr.com or you can call me @ 562-879-9677.

I look forward to talking with you and helping your friend in any way that I can.