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Los Angeles County Housing Market for January 2022

Feb 16, 2022 03:29 pm | Long Beach/Southern California Real Estate



  • Single family house median price is up 13.6% since January 2021. 
  • For 24 months there has been less than 4 months of housing supply, for the last year there's been less than 2 months supply, currently 1.2 months supply. 
  • January 2021 there were 7,862 houses, currently 5,215 houses on market (active listings). 
  • Days on market last January: 28 -- days on market; January 2022: 29 -- one day longer. (47 days in Jan. 2019).
  • Average percent of original list price received this January was 102.7% (2.7% over list price).
  • Number of showings per listing this January was 5.9-- last January it was 6.5 showings per listing. 
  • Of 3,139 SFR sales in Los Angeles County this January, 17% were all cash.
  • Only 2% of the 3,139 sales were contingent upon buyer's sale of a home.
  • Median list SFR price was $860,000--median closed price was $895,000 for this January.
  • Buyers see on average of 10.1 houses before going into contract, but the median is 2 showings.
  •  (Data as taken from CRMLS)


  •  Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996
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Protecting Your Home: What About Earthquakes?

Feb 14, 2022 12:00 pm | Long Beach/Southern California Real Estate



Long Beach house built 1922

Some aspects of climate change have brought more catastrophic events to different regions--in California earthquakes especially have long been present due to geologic features, such as the San Andreas Fault. Native Californians or others who've spent most of their lives in this state may have experienced past quakes to one degree or another:  further in the past was the 1933 Long Beach quake, more recently were Sylmar/San Fernando and the fall of the Oakland Bridge (Loma Prieta).  There have been many earthquakes in California, see the list at the link.   The major ones can be devastating, causing loss of life, displacement of homes, disruption in lives.  

There are things that property owners can do to at least minimize impact to themselves, their families, or their tenants.  One is obtaining earthquake insurance, and another is preparing your home's physical structure doing some simple things: foundation bolts and plywood bracing for certain older homes with cripple walls (when you bought your house the seller should have provided you with a booklet concerning this)--for a more extensive strengthening an owner might want to do a retrofit.  There may also be a grant available for such help--find out more at the California Earthquake Authority site for units over garages, mobile homes, hillside houses, post and pier homes, etc.  

There are over 500 active faults in California and most Californians live within 30 miles of an active fault. Based on a study in 2014, there is a 75% likelihood of one or more magnitude 7.0+ quakes striking Southern California in the next 30 years.

Homeowners can add earthquake coverage to their home insurance, and condominium owners, especially those in a multiunit multifamily style homeowners association which does not have a master earthquake coverage, may purchase their own coverage for the interior of their unit--it not only gives replacement value but can also provide living expenses for some time into the future.

Communities that have been struck by disasters can recover more fully and completely when its members have had the financial means to do so..... If you're a homeowner it would be advisable to take steps to protect your home. Don't be surprised if you live in  an older home (built before 1933) and your neighbors tell you their house isn't bolted, or they don't know for sure -- just think about how an unbolted house can jump off the foundations.  If you can't pay for those repairs yourself, what are you going to do? Here is a link to brace and bolt grants.

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

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Not All Homes Are Selling Immediately in Long Beach--Opportunity?

Feb 04, 2022 01:09 pm | Long Beach/Southern California Real Estate



Almost every day there is an article posted about the shortage of inventory, and I personally hear stories of fellow Realtors with buyers who are in heavy competition with others to find their next home.  It is very much a time of low inventory overall, and buyers may actually be racing each other to the next home viewing before quickly putting an offer. Many homes in the Long Beach area are going into escrow after just a few days on the market--especially in certain areas such as East Long Beach. 

Long Beach park

But not all sellers are moving as quickly as others.  There could be various reasons for this, but nevertheless, not everything is selling in 8 days.  At the top end of the market, a house on the Peninsula listed for $4,779,500 and facing the ocean has been on the market for 361 days, almost a year, although it's been in escrow 3 times, and is currently back on the market. The next lengthiest listing is a small bungalow house on the market for $469,000 for 208 days in the area between 10th and Anaheim. Another bungalow house near Atlantic Ave and 6th St (downtown area) is on the market for $505,000 for 157 days, another investor or first time buyer opportunity.  Four more homes located in Lakewood Village, Belmont Shore, Belmont Heights, Naples,  and downtown are still waiting for buyers, all having been on the market longer than 106 days.  Another 21 homes in all areas of Long Beach have been on the market between 85 and 32 days as of February 4th, prices ranging between $499,000 and $6.8 million+. The remaining 67 active listings have been on the market less than 30 days, which is indicative of general market conditions.  

In the last 6 months 1,096 single family homes sold at an average price of $981,930 ( in spite of one taking 403 days) in Long Beach with an average of 20 days on the market.  There are currently 169 single family homes in escrow at an average of 25 days on the market, with some areas selling especially quickly:  Stratford Square (1) has 7 average days on market; Los Altos (7) average 17 days; Lakewood Village (3) average 13 days; Ranchos/Lakewood Plaza (10) average 11 days; El Dorado Park Estates (3) average 16 days, and so on.  Practically all areas are selling under 30 days on average.

But for some houses, even though inventory is low and the average time on market is low, there can still be opportunity for some buyers.  Please feel free to use the property search at http://www.juliahuntsman.com, where you will find all the listings as shown on the MLS.  

Market Graphics

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

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New Laws Affecting California Real Estate Starting in 2022

Feb 01, 2022 01:45 pm | Long Beach/Southern California Real Estate



Naples Long Beach Canal
Naples Canal
Every year many new bills are signed into California law, and this year is no exception.  Not all have to do directly with real estate, but here are some of the ones that do:

AB 468 concerns emotional support animals (which are not the same as service animals).  While landlords must provide reasonable accommodation concerning emotional support animals per current federal or state law, there are now restrictions on how health providers may provide documentation, requiring specific language, in order to reduce emotional support animal fraud.  To read more about service animals vs. emotional support animals, go to Emotional Support Animal Fraud.

AB 491 Fair Housing Equal Access, a new law which states that in "mixed-income multifamily structures, all occupants must have equal access to common entrances, areas, and amenities as the occupants of market-rate housing units." (California Association of Realtors).  The purpose of this bill is to eliminate the "poor door" for certain occupants of designated affordable housing units who in some instances were not allowed to use certain entrances or common area features.

AB 938 Appraisal Discrimination: To combat this problem which has existed in some geographic areas (nationwide) , after July 1, 2022, Realtor contracts in California which also require the delivery of a Seller's Transfer Disclosure Statement (TDS), must contain specific language concerning unbiased valuation of properties which cannot be influenced by race, religion, marital status, pregnancy, and 13 other categories.

SB 392 Homeowner associations must "communicate with homeowners via email if that is the homeowner's preferred method of communication (for notices that are required to be delivered individually under the Davis-Sterling Act)." (California Association of Realtors). This is a time saver and a money saver for associations which may be spending hundreds of dollars annually on mailing costs for multi-page documents that are required by law to be sent to HOA members. The annual budget report, annual policy statements and notices regarding assessments or delinquencies, among others, are notices that must be delivered "individually," and thus, the homeowner may now require that they receive these notices via email.

SB 9 governing lot splits in otherwise single SFR zoned areas, is lengthy and should require in depth study by the interested party:

"This law requires a city or county to ministerially approve either or both of the following, (subject to exceptions and conditions):  a) A housing development of no more than two units in a single-family zone ("duplex").  b) The subdivision of a parcel zoned for residential use, into two approximately equal parcels ("lot split")." (California Association of Realtors).

Existing law governing zoning of units and/or Accessory Dwelling Units may help the end user achieve his/her housing dream, and in spite of media coverage on how SB9 will chop up neighborhoods, there are many requirements to be consulted with, so long term affect may ultimately be seen as one more tool for increasing housing, rather than a huge overwhelming impact on neighborhoods.

 Further laws concern redaction and disclosure (if known by the Realtor) of restrictive covenants AB 1466;  SB 60 governing short term rentals; Revocable transfer on death deeds (avoiding probate) SB 315;

Julia Huntsman, REALTOR, Broker | www.juliahuntsman.com | 562-896-2609 | California Lic. #01188996

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More to read:

The Shape of the Housing Market to Come
Long Beach End of Year Housing Stats
December Housing Prices in the Local Long Beach Area
Some California Real Estate Laws for 2022
Loan Limits Have Increased!

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