Los Cerritos! Long Beach

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Don’t know what to do today?  How about…

Then & Now:  Los Cerritos Neighborhood Celebration
October 7, 12:30-4:30 p.m.   FREE

You don’t have to live in the Los Cerritos neighborhood to celebrate its centennial (1906-2006).  One of Long Beach’s oldest communities, the neighborhood is throwing a public party at Rancho Los Cerritos and EVERYONE is invited.  Long Beach Heritage volunteers will narrate tram tours of the neighborhood based on local historian Geraldine Knatz’s research.  Informative exhibits on the art, history and culture of early Long Beach will include    displays on the Virginia Country Club, the development of area farms and dairies, the oil industry, Daugherty Field, Dana Library, Los Cerritos Elementary School and others.  Neighbors, past and present, are encouraged to bring to the event any photos or paper-based artifacts of the Los Cerritos area and dating from the pre-1950s, to be scanned that same day and archived for a future project (maybe a book on the neighborhood?).  The LB Historic Preservation Office will offer short workshops on researching your home, supplemented by displays and information booths staffed with local historians and design experts to provide further assistance.  The festive afternoon will include children’s activities, contests, music DJ’d by Richard Nieto, light refreshments and tours of the historic adobe ranch house. A free valet parking service will be available for both cars and bikes.

SoCal Home Sales Slowing, Long Beach

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This is something that could confirm a trend in the industry lately.  As of now, the only decline is in the asking price.  Median price of homes has appreciated around 5% this year.  Lately,  the Los Angeles County’s home price appreciation shrunk to its lowest level in six years.  This is very important to watch for as it will greatly influence what will happen next year, along with inventory stock.  The longer the inventory of unsold homes stocks up, the more prices should go down.

With fewest buyers in the market since August 1997, a 21% drop from year-ago as far as volumes are concerned, according DataQuick.  The trend is obvious yet August median home price in Los Angeles County rose 4.7% over the same month last year to $517,000.  It is the slowest rate of appreciation and below the county’s historical average growth rate of 7%.

Another important trend to keep a lookout for are that prices look to have ceased rising on a monthly basis. August’s median of $517,000 was virtually flat with June’s and July’s.

This could be just the end of the summer reflection but if it continues into September, then the trend will be well under ways.

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