7/01/2013

In Long Beach, What Can You Buy Under $300,000?

There have been several articles talking about this price range in the last few years since the market downturn.  With both limited inventory, and an increase in the real estate market, there is a declining number of single family homes available under $300,000 in Long Beach, California.  There are 47 listings as of July 1 in this category, in various areas of Long Beach.  One of the best values in this range is really Windward Village, a secure planned unit development (PUD) park which offers open space and recreational facilities. 


Windward Village Home--Click on photo for info 
As of July 1, 2013 (check for any updated information) the home in the photo is listed in the MLS for $239,000, and at the listed 1600 sq. ft. for 2 bedrooms and 2 baths, is an unbelievable value. 

Windward Village homes may qualify for FHA, VA or conventional financing, and because it's a PUD, the new owner owns the land too.  Individual lot sizes vary from 2500 sq. ft to 3800 sq.ft., equal to or more than lot sizes in Belmont Shore.  While older models feature the carport style, newer models offer closed door garage parking.

Community Center

The complex has a 24-hour guard entry where all entrants are checked in by staff; there is a community center for activities and gatherings, an outdoor pool, grassy green areas, outdoor play areas for children, basketball  and tennis courts, car wash center, guest parking, and a putting green. For the unit shown above, the HOA dues are only $188/month.  Contrast that figure to the average condominium HOA fee of $250/month elsewhere in Long Beach, without all the recreational facilities.
Because these are manufactured home purchases, there are some differences from a regular single family home process which are normal to this type of purchase, such as the foundation system. But because it is a PUD and the owner owns their own land, there is absolutely no space rent, a monthly cost of $900 or more per month in similar complexes.

The common areas are very well kept with well-maintained and patrolled asphalt roads, and has the feel of a small single family residential community. It's a great opportunity while prices are still low, and nowhere else in Long Beach can you buy your own private home and have such advantages.

Please contact me about this complex!


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