I often get asked what the Land Value or Lot Value is in Alamitos Heights. Well now we have two good comps for that. Both have recently had the structures demolished
The most recent is 5473 E. 4th Street. This property recently sold for $703,000. The lost Size was 6,483 SF. The original List price was $850,000, then dropped to $749,900. The Cost per SF of land is $108/sf.
The second property was 5525 e. 4th Street, this sold back in June of 201 for $711,000. It was originally listed for $725,000. The lot size is 6,483 Sf. This works out to $110 SF (rounded)
It will interesting to see what is built on these two lots, Stay tuned.
Remember, if you are thinking about selling or buying in Alamitos Heights, contact me, I am the Local Expert, a Resident and a Certified Appraiser.
Remember, if you are thinking of selling, now is a great time. Call me for a free private evaluation of your home and a market update. Remember, I am a Alamitos Heights Resident since 1996. A Realtor, and Certified Appraiser.
I have been trying to get this post out for awhile. So, lets not waste anymore time!
2014 was good year for AlamitosHeights. We had 24 sales. This keeps up with average we have seen over the past few years and is a consistent rise since 2012.
The Lowest price was $554,000 and the highest price was $1,275,000. The average price is $901,979, and the Average Days on Market was 69 days.
September has the most closed sales with 4. This means these homes were active during the summer “selling months”. However, April, July and December each had 3 closed sales. I think the story here is, if you have a home with good appeal to the market it will sell at any time.
My favorite graph is the one below. This is a historical scatter graph that shows all the sales since 2001. You can really see the ups and downs of the market.
Something I hear all the time from owners is, “ Zillow says my home is worth, such and such” Since I am also a Real Estate Appraiser, I find this chart interesting. I always tell people to lean to the conservative side when looking at a Zillow “Zestimate”. What do you think?
Some of you may have stopped in while I was holding an open house at 750 Havana Avenue. What was confirmed is that there are A lot of people that want to live in AlamitosHeights. If you have thought about selling, now is still a good time.
Speaking of selling; I have a new listing that will be coming on the Market on Orlena Ave. This is a 3 bedroom, 3 bathroom home with a Lap Pool and a Studio off the back of the garage(buyer to verify permits) If you know of anyone looking have the contact me.
Have you seen the remodel going on a 400 Los Altos Avenue? Nick and Holloand Brown moved from Manila to this location last year. They are building a “Green Remodel” They have a website for the project www.netzeronest.com
They will be hosting an open house for all to attend this Sunday from 1-3pm
If you are thinking about selling your house, and would like to know the current market value or discuss a sales plan, call or email me. If you know someone who wants to move to our wonderful neighborhood, call me, I would be happy to help find them a home. Remember, I am a Long Beach Real Estate Agent,Certified Appraiser, and a resident of Alamitos Heights, Long Beach. I know values. Call me for all your Real Estate needs 562-673-1138
If you are like me, you have driven by Simms Pond on the corner of Loynes and PCH for years, and have only seen it through the fence.
Well, thanks to readers of this blog that asked if I knew anything about it, I called the man who does, Lenny Arkinstall of the Los Cerritos Wetlands Stewards to arrange a visit.
A very brief History:
Back in the 1950’s and 1960’s there was a Bait Shop at the corner of Loynes and PCH called Simms Bait and Tackle. hence the name Simms Pond. Then in 1977/78, developers wanted to build homes in what is now Del Lago and BayHarbour. As a condition for these developments, the California Coastal Commission required that Simms Pond be set aside for a Biological Reserve. In 2003 the Del Lago Community Association and the Bay Harbour HOA deeded the land to the city.
The pond is what they call a seasonal “vernal pool”, meaning it will be dry at sometime during the year. Lenny informed me that the pond is the healthiest it has ever been and that the drying of the pond by the drought this year has actually helped to air out and repair the soil.
Yes, the Ralphs located at the intersection of PCH, Bellflower Blvd and 7th Street at the Bixby Village Center will be closing.
I spoke with people at the store, and was informed they will be closing in 3-4 weeks. Supposedly, the owner of the center, Westar Associates raised the rent, Ralphs said no, and Westar gave them a 30 day notice.
What could replace Ralphs as an anchor in the center and occupy 33,382 SF? I would like to think another Grocery store, but with a new Gelsons, Whole Food’s, Trader Joes and a larger Ralphs down the road. Anyone’s guess could be good. However, on Westars Associates website, there are links to stories about Smart & Final Extra?
I think losing this Ralphs is a blow to the surrounding neighborhoods. It was much easier to go to this location then the one down PCH.
I tried a new service from Fiverr.com to make this great little video below. I did not want to use my voice for the voice over, but next time I will. After a few rounds of revisions, the voice over guy just could not get the correct pronunciation of “Alamitos”. I guess when you grow up in Southern California, you are used to the latin pronunciation of words and you don’t have to think about them.
Now for the update.
We seem to be in a state of transition, we are not seeing the rapid price appreciation of years past. We hare heading to a more normal market. Values seem to be hitting a plateau.
( click on picture for larger image)
If we look at the List price versus Sold price graph below, we can see that the majority of homes are selling below list price, with a few exceptions. One being 528 Havana Avenue, this solf for $200,000 over asking price! I think it had to do with the fact that this home sits on large lot. The other large lot sale was 680 Havana Avenue. This home could have sold for more, but it is located one house south of 7th Street.
( click on picture for larger image)
This next chart shows us Sales by month, but what we really like to see is the number of sales per year. This year we have 15 closed sales. With the 3 pending and 3 active listings, we could be on track to end the year with 21 sales. This would put us close to sales of the past 3 years.
( click on picture for larger image)
What does all this mean to you? Simple, SELL! If you are thinking about selling, now is the time. If you are thinking about buying, now is the time. Mortgage rates are predicted to move up, and when they do, your purchasing power moves down.
What makes Alamitos Heights a great place to live? The neighbors.
The 400-500 block of Los Altos recently had a Pink Flamingo Party. Basically, if a placstic Pink Flamingo shows up on your yard, you have to host a “Bring Your Own ( beer, food, soda) party in your front yard or driveway.
Along this same line, the 300 Block of Los Altos had a Street Drive way party over Labor Day Weekend. This usually starts around 6 and goes to about 10pm. These little gatherings are a great way to meet your neighbors. So get out there and have a Party, but be sure to invite me!
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Alamitos Heights Blog and, Sponsor Ma'n Pa Grocery are giving away 2 free Dinners.
Must be a resident of Long Beach.
Winner will be announced on May 31st. Winner agrees to have name and or photo published on Alamitos Heights Blog.