I meet so many people at Open Houses, talk to them over the phone, and get emails, and so many of these home buyers believe that Long Beach is flooded with bank owned homes. Up until several weeks ago, there was a significant number of bank owned homes for sale in Long Beach. However, within the last couple of weeks there was a tremendous activity in the lower priced and distressed properties, $250,000 and above, and they are selling now with multiple offers, and some bidding wars. The total number of bank owned homes in Long Beach is only 33 Ranging in price from $250,000 to more than $1,000,000. Some of these homes may be in escrow already, but the listing agents have not changed the status in the MLS.
There are additional 48 bank owned homes priced bellow $250,000, and they are mostly located in North Long Beach, and West of the 710 FWY.
As to condos, there are 46 Bank owned condos for sale today.
To see a list of all the bank owned properties, just click on the big red BANK OWNED link on the home page, and go on tour
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