But to those of you who believed economic "experts" and commission-hungry tea-leaf readers who proclaimed 2009 was "the bottom" and planned to sell in a few years for profit...
In addition to losers who bought during the bubble, I have documented quite a few 2008 buyers who purchased based on the false assumption that "the worst is over," and then faced total annihilation when they tried to unload just a few years later.
1310 East OCEAN Blvd #803, Long Beach, CA 90802
SQ. FT.: 960
$/SQ. FT.: $448
VIEW: Catalina, City Lights, City, Coastline, Harbor, Marina, Ocean, Panoramic, Yes, White Water (Wait, it has a view of "Yes"?! Maybe this price isn't that bad after all)
YEAR BUILT: 1984
COMMUNITY: Downtown Area/Alamitos Beach
ON REDFIN: 19 days
HOA FINE: $740 (OUCH)
DESCRIPTION: Sleek and sophisticated luxury high rise with spectacular Ocean views from every room. This home is right on the beach. Ocean views by day and city lights by night. You ll never tire of seeing gorgeous sunsets or graceful sailing ships. Stunning home with modern kitchen and bath. Lots of sunlight spills through the floor to ceiling windows. Open floor plan, great for entertaining. Spacious master bedroom suite with walk in closets. Let the sound of the waves lull you to sleep. There are many amenities including 24 hour concierge, Fitness room and community room, pool, spa, cabana, BBQ area and fire pit. Conveniently located to downtown, shopping, restaurants, parks, museums, theater, Queen Mary, Marina and more!
And he's also undercutting his competition (another 2009 "bottom" buyer!) by $40,000, although that unit appears to be upgraded with granite, a new bathroom and plantation $hutters.