Long Beach CA Update for Single Family Homes

In July 2026 there were 136 single family homes listed as sold in the CRMLS, all over Long Beach at an extensive price range from $526,000 to $5,000,000 closing prices.  This post is not otherwise meant to be a comprehensive study, but just to point out some examples of what is going on with some sales transactions as examples of what a seller may experience. 

Tudor style in Belmont Heights

An example of a home closing well under original asking price is in the 90814 zip code - Original asking price at $935,000, final closing price at $837,250, with $3400 in costs to repairs from seller to the all cash buyer. The buyer paid their own broker compensation fee.

Another example is a 90803 property where seller came down  $101,000 to pay both repair costs and the buyer's broker compensation fee, property sold (per CRMLS) at $3,400,000.

At the lower end of selling prices, in 90807 a home sold with no concessions for compensation fees or repairs at the reduced price from $569,000 to $550,000, on the market for 12 days, buyer paid all cash.

In 90808, a single family listed at $949,000 and sold at $929,000, and seller paid buyer agent compensation fee plus closing costs amount. Buyer obtained financing and property on market for 33 days.

Another interesting profile is a home in 90807 that sold in 10 days after listing at $1,225,000, increasing to $1,390,000 and selling at $1,350,000--still at an increased price from the original. Seller paid buyer broker fee as only concession, and buyer obtained mortgage financing. If the home is priced right for the market and is attractive to multiple buyers, then the seller can end up with a net gain. 

 Days on market varied between 0-146 days. While numerous sales show closing higher than list price, upon closer analysis they may also  reflect the increase is due to adding agreed upon repair and agent compensation amounts onto the original price, so that the seller's net is still at or close to the original closing target.

Eighteen closings were all cash, at all price levels -- from $550,000 to $3,800,000. VA or FHA financing was used in 13 sales. Conventional loans were used in majority of sales.  And sellers are often agreeing  to pay the buyer broker compensation, although that is entirely negotiable and shouldn't be assumed.

Buyers and sellers need to carefully look at the market because it can be a very selective market at this time, and sometimes a competitive one for the right property.

For more information for your property, whether it's a house, condo or multi unit, I can help you with my many years of experience. Just contact me via phone, text or email. Thank you for reading. 

 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Reminder: HOA Condo Mortgage Rules Are Changing for Condo Sales

Pool and spa area of HOA condos

Effective August 3, 2026, Fannie Mae and Freddie Mac have new rules for their mortgage underwriting in condominium buildings. 

The California balcony inspection law was one measure enacted after the condo building collapse in Florida just a few years ago. Now Federal Housing Finance Agency (FHFA) is addressing the insurance issues and repairs getting done when reserves are underfunded. 

There used to be a "limited review process" allowed in as many as 40% of loans nationwide, but no longer. The Full Review process is now required which requires lenders to look at the HOA's financial position, budgeted reserves and owner dues delinquencies.

The new review process means that the HOA budget must must include the highest reserve allocation in the HOA reserve study (required under California law) to cover costs identified.

Therefore, starting January 4, 2027, lenders must review the budget and confirm that 15% of annual assessment income is allocated to reserve fund for future maintenance and repairs. That doesn't mean that the entire 15% must actually be in the account, because some may have already been spent for annual repairs, but they must see the 15% allocation in the budget.  This is an increase from the 10% which was in effect for many years previous.

So buyers and sellers must be prepared for loan approval to take longer than before, and ideally, the HOA property manager will be as prompt as possible in getting the HOA documents to the lender, or the HOA Board will if there is no property manager.  Sellers will want to be aware of timelines and be in touch with their Boards about any compliance issues during this period, and buyers should be in touch with their lenders about any approval questions.

This is one of the biggest changes to come along in HOA approval process, and this, along with insurance, are reasons for some units needing a little more time to get through escrow. It's important for sellers to know that should their HOA not have the budget properly reflect the 15% reserve amount, as well as outstanding balcony inspection and repair issues, that it may mean a buyer will not qualify for conventional or even FHA loans, until the requirements are met.  

If you  would like more information about these requirements, this would be a good time to consult with your mortgage lender (some are conducting webinars about this topic), or go to https://singlefamily.fanniemae.com/media/44986/display. 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Rent vs. Buying a Condo in Long Beach CA

 Condominiums in Long Beach

Looking for housing may bring up the question of:  Should I consider buying? 

Parents of students in college, instructors moving into the area and needing housing soon, or job transfers in the near future all bring up the question of housing.  While there are some long term plans in the works for higher education facilities building their own housing, if you have a much more immediate need, perhaps you might want to consider a purchase if it turns out the monthly payments are close to what a rental would cost. With a condo purchase there's a long term investment potential if you move on, but decide to keep the rental income. 

Buying a condo has several factors to consider, such as property taxes, monthly dues payment, and insurance costs for condos. Depending on the price of the condo, it's quite possible that the total monthly payment (principal, interest, taxes and insurance plus HOA) may well be comparable to monthly rent. 

For example, there are currently 25 condo units listed at $3,000/month and under listed for lease or rent in the MLS. These units are all under 1000 sq. ft. and are studios, one or two bedrooms This figure does not include any searches on internet rent sites, or listings with property managers, or any other source, including driving around. 

There are also numerous condos for sale starting $260,000 near Cal State Long Beach.  Just using this studio with $402 monthly dues as an example, see the cost comparison, buying with a 20% down payment, at the link to a handy calculator comparing renting to condo buying. 

 If you have further interest, or other college areas you'd like to consider searching in, just contact me for information on these properties and information about buying a condominium. This is an avenue come parents have used for student housing, and then had the tax advantages as well. 

 I'm here to help you.

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

The Work of Artificial Intelligence (AI) in California Real Estate Practice

Buying or Selling with AI?

 AI, as is generally known, seems to be discussed in the media practically everyday. The capacity and use is being expanded on a weekly and/or daily basis. The real estate industry and Realtor organizations are fully aware of the presence and use of AI, including by customers of real estate agents looking to make offers and negotiate transactions. So here are some of the things to consider about AI.

In response, broker office policies are being developed by brokerages, and on a broader scale, the California Department of Justice has published its legal advisory on the application of California laws to AI. This advisory includes discussion of California's laws on data privacy, unfair competition,  false advertising, competition laws, civil rights, and election misinformation prevention.  And there are recent laws as of January 1, 2025, concerning disclosure requirements for businesses, unauthorized use of likeness, using AI in campaign and election materials, exploitative uses of AI, and AI tools in healthcare settings. 

Back to the real estate business-- besides advice from the California DOJ, real estate agents are now bound by AB 723, effective January 1, 2026, which imposes new obligations on real estate licensees with respect to the use of digitally altered images in advertisements and promotional materials for the sale of real property. What does this mean? that if a property listing shows photos that have been digitally altered to promote the sale of that property, then the "before" or "actual" view must also be presented with the "improved" altered photos.  In other words, there must be a true representation of the property. Very minor alterations, such as a color enhancement, are not included in this requirement, but a viewer must be able to see the current status of condition. 

Brokers and agents are currently reporting that customers are asking the AI sites what a good offer price is, how to negotiate some terms, what repairs to ask for when the physical inspection report is uploaded for AI review, etc.  Many agents are using AI in their work, including myself, there are many ways it can be very helpful, but please note that AI can make mistakes, and that is noted in the summaries/responses that I've received back to a request or question.  

Things to keep in mind when using AI for real estate: a) it hasn't been inside the houses in the area for comp purposes; b) at this moment in time, it doesn't know all real estate law, customs or broker practices, either statewide or locally; c) it doesn't set up appointments and show the customer the property; d) it may not do a complete job on reviewing seller disclosures or other documents nor know what may have been omitted/delayed/is incomplete; e) it may miss a major issue, or one that becomes a major issue for the client, in any of its summaries (back to that disclosure about mistakes). The real estate agent, who is there to help the client, is the agent for the client per their contract with each other, and is not the agent of AI, which is an outside 3rd party to which it has no obligation. 

In the meantime, AI tools are rapidly being added to the agent's toolbox to create ease and convenience in certain ways for getting documents prepared. But these tools are not just picked out of the sky, they have been vetted and reviewed by our professional organization to keep clients at the forefront. So prospective buyers should be aware that while AI is amazing, it's a tool, and one which can be used successfully by both you and your agent in the right ways. And now, I'm going to ask AI for a nice illustration for this post.

 

 Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

California Sales and Price Report for June 2026 Single Family Homes

Calif Sales and Price Report 6-2026

• Southern California had a 10.8 percent year-over-year increase in home sales.
• Southern California had a 2.3 percent year-over-year gain in median home price.
• Housing inventory statewide declined from 3.8 months last year to 3.1 months in June, 2026 . Looking ahead, housing supply is likely to remain constrained in the months ahead.
• The 30-year, fixed-mortgage interest rate averaged 6.49 percent in June, down from 6.82 percent in June 2025, according to California Association of Realtor's calculations based on Freddie Mac’s weekly mortgage survey data. 

 

Calif Regional Sales and Price Activity 6-2026

The Central Coast and Far North areas of California had largest year-over-year median price increase and largest increases in sales volume for single family houses.

Per C.A.R.: 

"Existing, single-family home sales totaled 279,880 in June on a seasonally adjusted annualized rate, up 4.1 percent from May and 6.0 percent from June 2025. 

"The statewide median home price declined to $904,640, down 2.8 percent from its record-breaking price of $930,260 in May, but up 0.4 percent from $901,310 in June 2025.

"Year-to-date sales increased 1.9 percent."

 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Did You Get an Unsolicited Text from Someone Offering to Buy Your House?

Did you receive an unsolicited text, or letter, or drive by a sign in your area from someone saying "we buy houses"? These are usually the work of  wholesalers. There's a California bill now attempting to address this issue, where a home is purchased quickly, and the seller may think conveniently, without having to do repairs, by an unlicensed person or persons who offer you an easy "no commission" deal. 

The bill AB 1850 is still under consideration, and it addresses some vital issues to protect sellers.  As stated by California Association of Realtors, which is backing the bill: 

AB 1850 requires individuals engaged in real estate wholesaling in California to be licensed by the Department of Real Estate. Wholesalers routinely perform activities that mirror traditional brokerage activities. They solicit property owners, negotiate purchase agreements, market contractual interests for profit, and facilitate the transfer of residential property interests, all while operating outside the state's licensing and consumer protection framework. Because wholesaling is not expressly addressed under current law, ambiguity exists and consumers are left without the safeguards that apply to licensed professionals. This gap has created opportunities for abuse, particularly targeting vulnerable or distressed homeowners, and has enabled misleading marketing practices and transaction structures designed to avoid accountability. AB 1850 addresses these issues by bringing wholesaling activity within the Department of Real Estate's licensing authority, ensuring that those who arrange and profit from real property transactions are subject to consistent professional standards and oversight. 

Some wholesalers are even attempting to procure properties that are already on the market and under contract with a listing agent (and some are even other licensed agents, I'm told). This is becoming more frequent in Northern California right now.  A property owner who does not have much of a budget for repairs, or has inherited a property that needs work, may be tempted to work with such offers. But just look down the road when it goes back on the market, sometimes with minimal work done, for much more than it was purchased for. 

Key provisions in the bill are 1) wholesalers must be licensed; 2) wholesalers must disclose in writing they are not taking title to the property; 3) the definition of wholesaling as the intent to buy the property with the intent to sell, assign or market the contract to another person or entity for profit or compensation; 4) engaging in wholesaling with out license is a criminal offense. This bill requires that wholesalers be transparent about their intentions, reduce fraud, and increase accountability in the real estate market.

If you would like to know more about the market value of your home or property, I'm available by email, phone or text, as a licensed Realtor and broker. 

 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Interested in Buying a Duplex, Triplex or Quadruplex Investment Property in Long Beach?

A. Map of unit properties

But you think maybe you can't afford it? If you're a first time buyer, which also includes buyers who have owned no property within the last 3 years, you may have the ability, depending on certain factors.

First of all, most down payment assistance programs are for owner occupied properties, which  means if you want to buy 2-4 residential units, you would occupy one of them. To many buyers this is very attractive because the rents could contribute to the mortgage.  So under current down payment assistance programs available in the Long Beach area, there could be as many as 12 programs from which as much as $67,375 could be available for a 4-unit property asking $1,225,000 for a single buyer making $100,000 annually. If the buyer was a veteran, firefighter, law enforcement, surviving spouse, and a few other categories, there could be additional benefit. 

 The map shows current Long Beach unit listings of all sizes; the graphic below shows the link that leads to the Down Payment Resource guide and more information for the buyer.  This link is not on all properties, and not all lenders do these programs. To find out more, please contact me for finding a loan officer if you are not able to search one yourself.  

B. Down Payment Link

It's important to know that ownership is possible for buyers who want to take the time to find the right program and the right property. Only properties 4 units or less, including single family homes, qualify.

 The down payment link is only in MLS-connected search programs, and is only featured on eligible properties.  To search independently just go to https://www.abodes.realestate/find-your-property-here -- no sign in is required. For further assistance, if you currently do not have an agreement with an agent which does not restrict you from buying in Long Beach, I can help you along your buying path and would be happy to discuss with you what will help you  get there.

The property search at the above link probably works best on a desk top computer, however, it is also accessible on tablets and phone screens (kind of small).  To look at a smaller group, search by zip code. 

 

 

 

 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Los Angeles Market Update for the 2026 California Housing and Market Update

As part of the 2026 Homeownership Matters housing market report for Los Angeles County, here is a breakdown comparison between USA, California and Los Angeles County housing prices and markets, as the end of 2025. So while the data may have changed a bit in the last 6 months, it's easy to see that L.A. County has a higher median price, while inventory is holding. All three columns show an increase in median price overall. 

 And while the housing affordability issue remains prominent, and the Congressional bill has yet to be signed while we wait to get through the 10-day period, the many attempts to make housing affordability a reality are being made on many fronts.

 Yes, there are buyers who can pay these prices, and many who are doing their best to save up for the down payment.  So, buyers, do not assume that you need 20% down payment funds: look at FHA which is 3.5% down, and if you're a veteran, the VA and CalVet programs, plus more.

Prices vary in neighborhoods though, so the 90806 zip code in May had an average price of $790,000 for a house; 90804 was $706,000 for a house; but 90808 the average SFR price was higher at $1,172,010.  To see constantly updated market reports, for residential properties, go to the link for informative pdf downloads.

Did you know that California has the most down payment programs in the U.S.?  Plus, CRMLS--the largest MLS in the country--on eligible listings indicates if a property has  a down payment program connected to it.  Depending on your income you may qualify for a higher price than you think depending on the loan type.  To get you started, use this Down Payment Resource link for access to many programs where you could find one that works for you. Just be aware that not all lenders work with each and every program, and I can help you with that. If you are a parent or relative or friend of someone who is wanting to get started, you and share this article with them. 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

Long Beach CA Summer Concert Schedules

 

1. Concerts in the Park:
   • Location: Various parks across Long Beach. Go to Long Beach Concerts
   • Details: Enjoy free outdoor concerts featuring a mix of genres including pop, funk, soul, and rock. The Long Beach Municipal Band also performs regularly. Concerts typically start at 6:30 PM, and attendees are encouraged to bring blankets and picnic dinners.
   •  
2. Bixby Knolls Concerts in the Park(ing Lot):
   • Dates: Scheduled for June 23, July 14, July 21, August 1, and August 11, 2025.
   • Location: Bixby Joe Coffee & Tea parking lot (4245 Atlantic Ave). Go to Visit Long Beach
   • Details: This family-friendly event features tribute bands and various music styles. Concerts begin at 6:30 PM, and attendees can enjoy food from local restaurants .
   •  
3. El Dorado Nature Center Summer Concert Series:
   • Dates: Concerts are held twice a month from June through August. Go to Nature Center
   • Location: El Dorado Nature Center (7550 E Spring St).
   • Details: Gates open at 6:30 PM, with performances from 7 to 8 PM. A $5 donation is encouraged to support the nature center. Featured bands include local favorites 
   • 
     
4. Shoreline Village Concerts:
   • Details: Shoreline Village hosts concerts every other Sunday throughout the summer, providing a scenic waterfront setting for live music. Go to shorelinevillage.com.

Additional Information

• Genres: The concerts feature a wide range of music, including Latin, ska, classic rock, and more, catering to diverse musical tastes.
• Family-Friendly: Most events are designed to be family-friendly, allowing attendees to bring their children and pets along for a fun evening out.
  For the latest updates and specific concert schedules, it's recommended to check local event listings or the official websites of the venues. Enjoy the summer music scene in Long Beach!

 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996

New Mortgage Guidelines for Condominiums Take Effect in 2026 and 2027.

Condo kitchen

On March 18, 2026, Fannie Mae (Federal National Mortgage Association), which backs the conventional loans most frequently obtained for condo financing throughout the country, announced numerous changes to its guidelines.  Some may be a relief, such as the removal of the 50% investor cap (how many investors can own in an HOA), but others are more restrictive. One of the major changes is the increase from 10% to 15% reserve fund allocation in the HOA budget, effective January 4, 2027. Ten percent allocation has been a standard for many many years, but the increase to 15% means a possible increase in dues assessments. To avoid that situation as much as possible, Boards need to start planning now for next year's budget process.

And, the new guidelines affect FHA loans as well. So should seller receive an offer from a buyer wanting FHA financing, the same budget and document review guidelines will apply. 

More:  unit owners must have property insurance if not covered by master policy; roofs must be insured; 50% investor cap removed; full review of HOA financials required; reserve study funding level reviewed if 15% replacement not met.

What boards and property managers should do right away:

Below is a practical checklist to assist you in developing your strategy for the next few weeks:

• Calculate your current reserve allocation percentage from your annual budget
• Determine when your last reserve study was completed. If it has exceeded thirty-six (36) months or utilized baseline funding options instead of full funding options, commission a new study
• Verify your master insurance policy provides replacement cost coverage for everything excluding roofs
• Prepare a condo questionnaire packet for lenders in advance of anticipated sales
• If your association's reserve funds are currently below fifteen percent (15%), model out your options: higher dues, special assessment, or a reserve fund loan
• If your building was previously deemed non-warrantable due to investor concentration limits, confirm your building's eligibility with a lender.
• Action Item:  Find your annual budget line item for reserve contributions. Divide it by your total operating expenses. If your resulting percentage is below 15%, start developing a plan before January 2027.  
• *https://www.hoaloanservices.com/post/fannie-mae-freddie-mac-condo-guideline-changes-2026-2027-hoa-guide   

So what if an HOA does not meet these guidelines and a seller receives an offer from a buyer using a conventional loan? That buyer will not be able to finance the condo with that conventional loan, but may be able to buy with all cash, or use an FHA loan or a VA loan (if they qualify).  Buyers do buy with those options too, but a conventional loan is often preferred because it is not a government backed loan and is offered by mortgage companies, credit unions,  and banks, thus offering more borrowing options for the buyer. 

In the last year, 705 condo units in Long Beach sold per the CRMLS: 373 were sold by conventional loans; 149 sold by cash; 48 sold with FHA financing; 35 sold with VA financing; the remaining 100 sold through other types of financing.  But, as you can see the largest amount, over half, were sold by conventional loans! 

Remember, these are new mortgage guidelines, not a law. But financing drives buyer demand and ultimately property values.

Key Dates: July 1, 2026--insurance changes.  August 3, 2026- full review starts. January 2027, 15% reserve allocation in budget.

I have over 30 years' experience in selling residential properties, including condos. Please contact me for market information in all Long Beach areas, and nearby cities. For more information on these new guidelines, contact an experienced conventional mortgage professional who is  familiar with the condo market. 

Julia Huntsman, REALTOR, Broker | http://www.abodes.realestate | 562-896-2609 | California Lic. #01188996