Long Beach Foreclosure Homes Fulfil a Dream for Some

By: philip smith

There is a silver lining in the cloud overhanging Long Beach Foreclosure Homes. At last a first home dream come true may be possible for young couples and families previously shut out of a superheated housing market. When Downtown Long Beach 'affordable' homes reached an average $350,000 late 2005, most young buyers could no longer imagine ever owning their own home.

What a difference a couple of years makes in California! Now those buyers with excellent credit records and cash for a hefty deposit can start looking again as prices head down month by month. If they find the sellers still a little inflexible with list prices, well then, there is an increasing number of sought after single family homes with yards, working couple condos and Downtown lofts for the career focused, all available in various stages of foreclosure.

Sellers unable to meet mortgage payments, unable to refinance and Banks and Lenders with hefty stocks of foreclosed homes, all know that the property that will sell in this cold, cold market is the discounted property.

Where do the shattered families go after selling to avoid foreclosure or losing their home to the lender or at the foreclosure auction? Affordable rental property has never been freely available in Long Beach and demand must eventually exceed supply as the family income earners coming out of a foreclosure look for accommodations to stay near their jobs. Now is the time to invest in foreclosure property for rental income, excellent occupancy rates are assured for affordable rental housing, single and multi family units, condos and bungalows. California Heights, Wrigley Heights, Lakewood and Signal Hill are all communities where some affordable rental housing already exists. Rental occupancy rates will go from average to excellent. Look for foreclosure leads in these sought after neighborhoods and many others from the waterfront to inland, from Downtown to Alamitos Bay.

Foreclosures
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