Home Buying in Long Beach>Question Details

Jay, Home Buyer in La Mirada, CA

I am looking at a Townhome in Long Beach with a 40' boat dock. Last sell price was in 2002 for $ 619k,

Asked by Jay, La Mirada, CA Mon Jan 26, 2009

asking price today is $ 1.1m almost 100% increase in 6 years...how do I know if this is a good value or not?

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Answers

5
Hi Jay,

I love Spinnaker! This townhome is not only on water it is on the widest part of the canal - awesome location! Here is a link to an article I update every month or two - all sales in Spinnaker for the last 2 years, this should be helpful to you.

http://www.longbeachrealestatehome.com/spinnaker-bay-homes-s…

This waterfront townhome has stirred up some interest. I recently sold the home at the end of Spinnaker - 350 Salta Verde Pt., which sits on the corner of 2 canals across from Marina Pacifica. The buyers love it! We negotiated quite a deal for them. Would love to do the same for you.

Laurie Manny
Main Street Realtors
562-212-5420
http://www.longbeachrealestatehome.com
http://www.lauriemanny.com
http://www.twitter.com/lauriemanny
1 vote Thank Flag Link Tue Jan 27, 2009
Hi Jay,

I know exactly the area you're talking about. It must be in Spinnaker Coves. Actually, the last 2 sales in there were for $735,000 and $780,000. They both came with a boat slip, but did not have a water view. The 2 that are currently active have water views and therefore more expensive. Also remember that the HOA dues in that community are $575 a month and another $106 a month boat slip association fee. I know of a great lease in that community with a boat slip and water view. You may want to try that out to see if you even like the community. Another alternative would be to purchase a home with no association fees and rent a boat slip from a private owner. Please contact me if you would like more information on this.

Sincerely,

Scott Butzbach
Coldwell Banker
(562) 858-0669
1 vote Thank Flag Link Mon Jan 26, 2009
Hi Jay, Lesley is dead-on with her method for determining offer price. A Comparative Market Analysis (CMA) gives you the best representation of market price/activity/trend direction - for the specific property details you search on. DO NOT rely on median and average-based statistics, these measures are meaningless for targeted selling/purchasing as they have no regard for any of the specifics you may be searching for and can be skewed by segments of market activity not matching your individual situation.

Best, -Steve
1 vote Thank Flag Link Mon Jan 26, 2009
Good Afternoon Jay,

Are you working with a Real Estate Professional? If not I can put you in touch with an agent I know in your area. That way they can do a Comparative Market Analysis for you and talk to you about what you should offer.

Give me a call or email me, and I will put you in touch!
Good Luck with your purchase!
1 vote Thank Flag Link Mon Jan 26, 2009
Hi Jay,

Do you have the address, I am an agent in the Long Beach area and I can go ahead and pull some comps for you to let you know what has been selling in that area and for what price.

Lou McNamee
Coldwell Banker
562-879-9677
Web Reference: http://www.loubandb.com
0 votes Thank Flag Link Mon Jan 26, 2009
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