Happy Holidays from El Segundo Real Estate

From our family to yours we wish you a very Merry Christmas and Happy Holiday season. El Segundo, with it’s small town charm, is a fantastic place to enjoy the holidays. There are numerous events in downtown El Segundo as well as the neighboring South Bay cities of Hermosa, Manhattan, Redondo and Torrance.

El Segundo Home Inspections

Buying a home is one of the most important purchases you will make in your lifetime, so you should be sure that the home you want to buy is in good condition. A home inspection is an evaluation of a home’s condition by a trained expert. During a home inspection, a qualified inspector takes an in-depth and impartial look at the property you plan to buy. The inspector will:

  • Evaluate the physical condition: the structure, construction and mechanical systems.
  • Identify items that should be repaired or replaced.
  • Estimate the remaining useful life of the major systems (such as electrical, plumbing, heating, air conditioning), equipment, structure and finishes.

After the inspection is complete, you will receive a written report of the findings from the home inspector, usually within 1-2 days.

The Bottom Line: Spending Hundreds May Save Thousands  See Also Why You Need A Home Inspection.

When you make a written offer on a home, you should insist that the contract state that the offer is contingent on a home inspection conducted by a qualified inspector. You will have to pay for the inspection yourself, but it could keep you from buying a house that will cost you far more in repairs down the road. If you are satisfied with the results of the inspection, then your offer can proceed.

Finding a Qualified Home Inspector

As the homebuyer, it is your responsibility to carefully select a qualified inspector and pay for the inspection.

The following sources may help you find a qualified home inspector:

  • State regulatory authorities. Some states require licensing of home inspectors.
  • Professional organizations. Professional organizations may require home inspectors to pass tests and meet minimum qualifications before becoming a member.
  • Phone book yellow pages. Look under “Building Inspection Service” or “Home Inspection Service.”
  • The Internet. Search for “Building Inspection Service” or “Home Inspection Service.”
  • Your real estate agent. Most real estate professionals have a list of home inspectors they recommend.

Home Inspections Are Not Appraisals

A property appraisal is a document that provides an estimate of a property’s market value. Lenders require appraisals on properties prior to loan approval to ensure that the mortgage loan amount is not more than the value of the property. Appraisals are for lenders; home inspections are for buyers.

Real Estate in Hawthorne CA

Welcome to Hawthorne, California

Lying just east of Manhattan Beach, the city of Hawthorne offers an affordable alternative to the higher priced homes of neighboring Manhattan Beach, Hermosa Beach and Redondo Beach. With many charming tree lined neighborhoods, proximity to shopping and the beach, and easy freeway and downtown access, Hawthorne is a great place to own a home. Hawthorne offers a variety of housing options from the typical 3 bedroom 1 bath single story house to brand new townhomes in projects such as Fusion adjacent to Manhattan Beach’s Liberty Village area and in close proximity to many Fortune 500 companies and employers such as Lockheed, Northrup, Mattel, and the Aerospace Corporation. Find homes in the neighborhoods of Hawthorne including Hollyglen, Bodger Park, Del Aire, Wiseburn and more.

Real Estate and General Information  –  View Current Homes for Sale in Hawthorne

Your online resource for Hawthorne, California homes and real estate. Find your home in Hawthorne with our simple targeted home search or find all South Bay homes with our free MLS access. If you are looking to buy or sell a home or investment property in Southern California….we can help. Find out why we should be your Hawthorne Realtors®.

About Hawthorne

Happy Thanksgiving from El Segundo MLS

From our family to yours….we wish you a very happy Thanksgiving

El Segundo and South Bay Open Houses

Take a look at the list below to see this weeks open houses in El Segundo and the South Bay

What are El Segundo Pocket Listings and How Do You Find Them?

In this incredibly competitive market many homes are not even making it to the market.   So how do you find out about these homes in El Segundo and the South Bay?  First it’s important to understand just what we’re talking about.

What does off market or a pocket listing mean?

It can actually mean a few different things but in general, when we refer to homes sold off market or pocket listings these are homes that are never put on the MLS and therefore unknown to most buyers and many realtors.  That means that searching the Redfins and Zillows of the world may mean that you’re not aware of these types of opportunities.

Why would an El Segundo homeseller want to sell the home off market?

In general it’s not a great idea.  Fewer buyers that know about the home usually means less competition and ultimately a lower sales price.  That’s certainly not always the case but usually accurate to some extent.  Sellers have many reasons for not wanting to put their home on the market.  It may be due to privacy reasons such as not wanting the neighbor or even the tenant know that the home is for sale.  It may be that they don’t want to deal with some of the hassles that come along with listing a home…..buyer’s and agents that want to show the home at all hours, open houses on the weekends and more people simply curious with few legitimate buyers.  Whatever the reason it does limit the exposure and again usually limits the price.

That’s why it can be a good opportunity for buyers….less competition, fewer bidding wars which generally leads to a lower sales price.

How do I find out about these homes?

Unlike the MLS listings, off market, upcoming and pocket listings are much more elusive.  The key is to work with an agent that has deep connections in the El Segundo community and market.  Some of the top realtors in certain areas may share information on these hard to find opportunities and the larger or more numerous the seller and agent networks, the more information the agent can obtain.

We are happy to help you find off market homes but this requires a good deal of work, considerable communication with sellers and agents and a readiness to act should the right home come available.  If you would like us to help find off market opportunities please feel free to text us at 310-251-2344 or email us with the details of your home search.

Big Ups and Big Downs in the South Bay Real Estate Market

What a crazy month July was in the South Bay.  The year over year % changes in median home prices were drastic in many cases with some cities seeing huge increases while others saw major drops.  Unfortunately real estate in El Segundo CA was on the losing end with median home prices being almost 20% lower than they had been in July of 2016.  One of the reasons was the rash of newer, and more expensive, construction a year ago somewhat artificially inflating prices.  El Segundo saw a high number of homes close escrow with 20 sold homes in July at a median home price of just under $1,055,000.  While that’s considerably lower than the previous July, that is still a very big number in El Segundo.  Click here to see the recent home sales in El Segundo and the South Bay.

City Homes Sold July 2017 Median July 2016 Median Year over Year % Change%
Carson 60 $480,000 $445,000 8%
El Segundo 20 $1,055,000 $1,310,000 -19.5%
Gardena 65 $549,000 $454,000 21%
Harbor City 15 $439,000 $550,000 -20.2%
Hawthorne 35 $730,000 $562,000 30%
Hermosa Beach 19 $2,025,000 $1,410,000 43.6%
Lawndale 15 $515,000 $430,000 19.8%
Lomita 21 $598,000 $585,000 2.1%
Long Beach 331 $520,000 $471,500 10.3%
Manhattan Beach 48 $2,449,000 $2,200,000 11.3%
Marina Del Rey 36 $921,000 $974,000 -5.4%
Palos Verdes Estates 28 $1558,000 $1,800,000 -13.4%
Playa Del Rey 20 $613,000 $629,000 -2.5%
Rancho Palos Verdes 63 $1,345,000 $1,160,000 15.9%
Redondo Beach 95 $975,000 $920,000 6%
San Pedro 63 $542,000 $542,000 0%
Torrance 113 $687,000 $617,000 11.4%
Westchester 33 $1,185,000 $1,116,000 6.2%

$3,000,000 in El Segundo? Rarified Air at 425 West Oak

The recent listing at 425 West Oak in El Segundo is in some rarified air pushing the elusive $3,000,000 price barrier.  It will be a good home to keep an eye on to see if El Segundo can achieve a price point more common in the neighboring Manhattan Beach luxury real estate market.  The home at 425 West Oak is brand new construction with a modern design and sitting on a well appointed 8000+ square foot lot.  With 5 bedrooms and 4000 feet it is definitely a home to rival new construction in Manhattan and Hermosa Beach.

El Segundo Median Home Prices Top $880,000 for May 2017

May 2017 saw another solid month in the El Segundo real estate market with 8 homes selling at a median price of $880,000 which was almost 10% higher than the same month a year earlier. View the sold homes for May 2017 in El Segundo or visit our El Segundo real estate market statistics.

City Homes
Sold
May 2017 Median May 2016 Median Year over Year % Change%
Carson 41 $458,000 $453,000 1.2%
El Segundo 8 $880,000 $803,000 9.7%
Gardena 65 $523,000 $425,000 23.1%
Harbor City 14 $503,000 $439,000 14.5%
Hawthorne 46 $610,000 $485,000 25.8%
Hermosa Beach 26 $1,738,000 $1,285,000 35.3%
Lawndale 16 $485,000 $455,000 6.5%
Lomita 18 $653,000 $488,000 33.7%
Long Beach 356 $472,000 $485,000 -2.6%
Manhattan Beach 46 $2,175,000 $1,875,000 16%
Marina Del Rey 32 $933,000 $925,000 0.8%
Palos Verdes Estates 47 $1,650,000 $1,499,000 10.1%
Playa Del Rey 31 $720,000 $560,000 28.6%
Rancho Palos Verdes 51 $1,275,000 $1,060,000 20.3%
Redondo Beach 87 $1,054,000 $950,000 10.9%
San Pedro 63 $620,000 $489,000 26.8%
Torrance 140 $690,000 $593,000 16.4%
Westchester 44 $965,000 $1,130,000 -14.6%

How Best to Determine How Much Is Your El Segundo Home Worth?

Finding the value of your home in El Segundo isn’t quite as easy as some real estate sites make it appear.  Sites like Zillow provide an estimate, but their modeling is challenged in communities like ours.  Unlike tract homes or newer communities that all share similar characteristics, El Segundo and the South Bay has an extremely diverse range of homes.  With features such as ocean views and large yards at a premium simply determining what some of the neighboring homes have sold for doesn’t give a very accurate assessment.  Add to that some dramatic differences in terms of upgrades, new kitchens, hardwood floors and more and a simple one price fits all concept doesn’t work.

So what’s your best way to find the value of your home in El Segundo?  Find a local realtor that knows the area well and understands both the micro market and what impacts the values in the area.

If you are interested in learning the value of your home in El Segundo with a pressure free analysis of your home feel free to contact top listing agent Keith Kyle or simply tell us about your home below.  Feel free to visit our recent El Segundo and South Bay home prices for a month by month view of the recently sold homes and median prices.

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