September Home Sales in El Segundo Dominated by Condos

El Segundo CA once again saw a fairly low number of home sales for September 2014.  The real estate market continued to be a sellers market with very low inventory and very high demand in this coastal community of the South Bay outside of Los Angeles.  The bulk of the home sales in September were dominated by condos, which is a bit unusual.  Of the 8 homes sold on the MLS, 5 were condos, one was a townhome and only 2 single family homes.  Visit our El Segundo CA homes for sale page to see the current active MLS listings or visit our recent home sale page for the South Bay to see other months and other South Bay Cities.

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Stunning home offered at 840 Center Street in El Segundo

El Segundo is primarily a community of beach bungalows and remodeled homes with a very casual feel. Every once in a while a stunning luxury 840_Center_Streetestate property comes on the market and 840 Center Street certainly fits that description. According to listing agent Raju Chhabria:

“Completed in 2010, this custom home designed by Tomaro Design Group is warm and inviting, yet privately secluded. Upon entering the Portico, you will find a secluded courtyard with fire pit, tranquil water feature, detailed architectural lighting, and detached private office. Dramatic 2 story living room with 22ft ceilings, surrounded by windows. See-thru fireplace shared with the open family room. Formal dining room looks out to one of the 3 water features that occupy the property. The gourmet kitchen consists of Thermador appliances, imported marble and granite countertops, large center island with built-in wine and beverage refrigerators, a sizable pantry and a Butler Pantry. The breakfast nook and open family room both lead out to the backyard which features a built-in BBQ, gas fireplace and tranquil water feature, perfect for entertaining! Master suite with fireplace, a concealed in-ceiling TV, balcony, his and hers walk-in closets, en-suite bath with vanity and spa tub. The west wing includes a laundry room and 3 additional bedroom suites, each complete with private baths, walk-in closets and individually controlled climate. 3-car garage with ample professional storage cabinets and a custom motorized bike rack.”

View photos and details for 840 Center Street in El Segundo

A number of El Segundo Open House for Sept 20th and 21st

El Segundo doesn’t generally see too many open houses as home inventory is down and it’s a fairly small town with few homes for sale in the Open-House-White-DSbest of markets.  This weekend sees more than usual with several advertised open houses.  See the list below for El Segundo and the South Bay.  If you’re seeing this post after the September dates please visit our South Bay open houses site for updated homes for sale and schedules.

Location a Critical Factor in El Segundo Real Estate

El Segundo is a fantastic community oriented city in the South Bay. It offers a great small town feel, charming downtown and Main Street areas, award winning schools and proximity to the beach. From a real estate perspective, however, parts of El Segundo do have their challenges….and it’s all about the location. El Segundo CA area Map The challenge El Segundo has is that it happens to have some less than appealing neighbors. Directly to the north lies LAX, or Los Angeles International Airport. To the west lies the Hyperion Waste Water Treatment Plant. To the south lies the Chevron Oil Refinery (although the areas nearest to the refinery of primarily commercial) and to the east is a relatively busy, but nice commercial and retail corridor with high rise buildings, hotels and strip malls. Although each area may require some compromise on the part of buyers, each does offer lower prices than the neighborhoods in the center of town. If you’re working with a realtor, make sure that they are familiar with El Segundo and can offer insight into just what the various neighborhoods are like.

El Segundo Real Estate Market Update

By Keith KyleEl Segundo real estate

Real estate in the South Bay and specifically El Segundo continues at a pretty torrid pace.  Slowly rising inventory should alleviate some of the pressure and we may be heading towards a more balanced market.  July was the new high for active homes for sale with 30, topping the year high of 17 in June.  Median home price of active listings is $799,000.  The primary reason for this significant jump in inventory is due to the two new construction projects at the 100 Block of Walnut and the 900 block of Pepper, a 12 unit project from architect Pat Killen.

Currently there are 14 homes in escrow which is also a considerable jump from the 9 homes in escrow during the month of June.

We are still seeing quite the disparity between the average list prices of homes in El Segundo vs. the average sold home prices.  This is primarily due to sellers often listing homes at a “make me move” type price in which they’re looking for something well beyond market values.

Have We Finally Seen A Turn in the El Segundo Housing Market?

By Keith KyleFor Sale Sign

As of April 6th there are 14 homes currently for sale in El Segundo ranging in price from $342,900 for a 2 bedroom condo at 770 W Imperial to $2,199,000 for an absolutely massive 8 bedroom 7 bath 5600 foot single family home located at 216 Walnut.  March saw 8 closed escrows and sold homes as a sharp increase from the 5 year low in February of only 2 homes sold.   See the recent El Segundo home sales for the list of homes sold in March and the months prior.

Charming Home Hits the Market at 841 Loma Vista

One of the nice aspects of El Segundo is that, unlike some of its neighbor cities to the south, it still retains a small town feel.  One of the reasons forEl Segundo Home this is that instead of every “beach bungalow” being torn down and replace with mini mansions that overwhelm the smaller lots, many homes are updated and upgraded and have their original charm.  841 Loma Vista is one of these.

Click here to view the details and photos of 841 Loma Vista in El Segundo CA

 

Welcome to El Segundo Real Estate

By Keith KyleEl-Segundo-Sign

El Segundo real estate is often overlooked in the South Bay as the name perhaps isn’t quite as alluring as it’s neighbors in Manhattan and Hermosa Beach, but it  is a wonderful place to call home and is a more affordable option.  We hope you’ll take advantage of all of the information and resources on El Segundo MLS as we offer a number of ways to search for homes including free MLS access, current homes for sale sorted by both price and type, and if you really want to make your home search easy we will customize your El Segundo home search and send you free daily email updates.  View recent homes sales, current prices, market statistics and much much more.

El Segundo offers residents a small town feel yet closer to key parts of Los Angeles such as LAX, downtown, Santa Monica and more.  Located just north of Manhattan Beach and just east of Los Angeles airport, El Segundo is a true community with a charming downtown area, fantastic school system, endless activities and beautiful Dockweiler Beach.

El-Segundo Real Estate Map

South Bay Communities

Visit our community pages below for information on real estate, neighborhoods, schools and more.

So What Is the Termite Inspection Process During and Escrow

As many of my clients are first time home buyers, the process of the termite inspection and termite/wood destroying pest repair process is often a bit confusing.  Unlike any traditional repair requests that come up during the escrow process, the termite inspection and repairs are generally agreed upon prior to acceptance and are therefore contractual and non-negotiable during escrow.

During the offer there are two times the inspection and work can be mentioned.  The Residential Purchase Agreement specifies whether an inspection will be performed and who will pay for it.  Another document called the WPA or wood destroying pest addendum can also be included in the offer and goes into greater detail explaining what will be inspected, who will pay for it, and if there is any work needed per the inspection, who pays for the work.  Most often sellers agree to pay for both the inspection and, what’s known as, section 1 recommendations.  This often includes wood repair, spot treatment and sometimes fumigation (tenting).  Every negotiation is different and some will not agree to pay for an inspection or the work.  Regardless I advise my sellers to have an inspection even if they are paying for it themselves as simply put…it makes a big unknown more understood and decisions can then be based on the results.  There are a number of challenges and problems that can be caused by the termite uncertainty and I’ve listed several here.2013-12-03 13.55.42