History & Fun Facts regarding Paramount

You will love living in Lakewood as I do. I have lived in Lakewood since 1992. It is a great community to raise a family.   Lot of parks, great restaurants and very family oriented.  The city is ethnically diverse and has a diverse city council. Lakewood is known as “tomorrows city”.  Centrally located to the 91 freeway and 405 freeways.

A historical fact: 1^st city to utilize helicopters for law enforcement in 1966.

Lakewood is a city located in southeast Los Angeles County, California, in the Los Angeles metropolitan area. It was founded in 1954.Adjacent to the City of Long Beach.  As of the 2010 census, the city had a total population of 79,900.

Population

(from bestplaces.net)

Lakewood is reported to have a population of 31,371 with a median age of 38.7 and a median annual income of $78,175, according to the 2010 U.S. census.

Schools

(from bestplaces.net)

Lakewood is a part of Long Beach Unified School and ABC School Districts. Lakewood has 12 schools from (pre-school through high school).

Attractions

Lakewood is home of the beautiful Lakewood Golf Course and the Lakewood Country Club.  Lakewood has a wonderful shopping mall including Costco. Lakewood also has a recently remodeled Senior Community Center and a beautiful city facility for weddings and other large gatherings called the Sycamore Center. Lots of wonderful restaurants on restaurant row.

Climate Comfort Index of 9.3 10.

Real Estate Market

Single Family:

Lakewood is a great city to purchase because it’s very affordable.  Median Home Purchase price is $788,000.  Lakewood offers great home prices for first time homebuyers with single family and condos inventory.  Senior housing is also available. Much of the original housing in Lakewood was built in the 1950’s to providing housing for families that worked at McDonald Douglas Aircraft.

Condominiums:

Inventory is too low for a market report on condos in Lakewood.

Here is the rental market in Lakewood:

Challenges of home buying for First Time Home Buyers (FTHB) in our current market

1. Low Inventory – Sellers’ Market
2. Getting an offer accepted

Solutions to getting an offer accepted:

1. Be sure the loan is approved subject to appraisal and title
2. Clear verification of down payment funds (liquid in an account)
3. Increase the earnest money deposit (EMD)
4. Minimize contingencies
5. Utilize an experienced FTHB (first time home buyer) Realtor with a pleasant personality, local in the community and well connected

Programs for FTHB’s

• NACA – 0 down and PMI
• FHA – 3.5% down
• CalHFA – see grants assist for specific careers ex. Law enforcement, education and health care

Resources: altos.re, bestplaces.com, wikipedia.com