Condo Conversions Up in 2006

Condominium conversions in Long Beach went up three fold in 2006.  It has effected the local housing market.  Condos have received much attention for a while and I wonder if an adjustment is coming.

Vacancy rates are about two percent make condo conversion very attractive for investors.  One of the many city ordinances require property owners to provide relocation assistance to low-income households displaced from conversions.   But the affordable housing crisis is giving us an overcrowding of our city. 

The Long Beach Business Journal has a good article explaining the ins and out, as well as opinions on this tricky subject.

On another note, I noticed at least one condo on 2nd street, East side that is selling for much less than it commanded last year.  Is this the beginning of a re-evaluation of condo pricing?

You can prevent water damages in your home by inspecting regularly your bathroom for water damages can save you a lot of money when it comes time to have your house inspected for a sale.  Bathtubs, toilets and sinks increases chances and risks of leaks and structural damages.

1- Check the tiles and replace them if cracked.  They will leak water below and eventually damage the structure of the floor.
2- Replace the grout between tiles, for the same reason mentioned above.  It’s easy and costs very little.
3- Replace cracked caulking at joints between walls and floors or the bathtub.
4- Clogged drains and pipes prevent the tub and shower from drying and can cause serious damages below.
5- Pay attention to discolorations or soft areas around bathtubs and showers.

Plumbing
1- Pay attention to the flooring and walls for any moistures, warped wood.

Simple tricks that can save you a lot of money comes crunch time to sell your home.