Welcome to 1510 E Oak in El Segundo California. This is a beautiful Tuscan inspired masterpiece built in 2012 by CAM construction. Enjoy almost 4,000 square feet (*BTV) with 5 spacious bedrooms. Each bedroom has an en suite bathroom perfect for those needing a bit of space. Enjoy great outdoor areas including the front patio and rear yard just off of the great room and kitchen.
Common Mistakes that Home Seller’s Make
When the market favors buyers, it is important to do everything possible to avoid the common mistakes which often lead to homes sitting on the market. Without question price is the most important aspect of getting your home sold, and the most common mistake that sellers make.
Here is a list of common mistakes that home seller’s make and how best to avoid them.
1. Pricing Your Home Too High
Solution: Price is almost everything! We are area experts and can research comparable sales in your area and advise you of the appropriate price range of your property. Every homeowner feels that their home is special, but it is critical to know what the competition is, and what they are priced at. Overpricing a home is the most common, and often the most costly, mistake home sellers make. After sitting on the market for a while, often price reductions don’t draw great interest and the home often sells for much less than it would have if appropriately or aggressively priced from the beginning.
2. Not Using Up to Date Information
Solution: Many home sellers base the “value” of their home on what a neighbor’s home sold for 6 months ago and figure that the market has gone up in that time, and their home is nicer than their neighbors. What happened 6 months or a year ago may be irrelevant and lead to unrealistic expectations. In the current market, with prices either going down or softening, it’s important to know the prices of the homes currently on the market similar to yours, and more important to know the prices of the homes that are in escrow or recently sold.
3. Not Utilizing Current Marketing Technology
Solution: We are always up on the latest technology and market heavily on the internet. With 80% of home buyers starting their search online, it is critical to get your home exposed to as many of these potential buyers as possible. See “How We Market Your Home” for more information. We are e-Pro certified and are up to date with all of the facets of online real estate.
4. Ignoring the Importance of First Impressions
Solution: Sales have been not happened for minor reasons such as messy yards, cluttered closets, unpainted front doors, locks that didn’t work, bad colors, stains, lack of light and bad smells. Spend some time onthe little, and simple, things. Double up on your gardening, keep things cleaner than usual, tidy up the clutter and make sure your pets are under control.
5. Not Providing Easy Access for Showings
Solution: There are many ways to show a home. Appointment Only is the most restrictive and lock boxes are the most accessible. If you r home is easy for agents to show, more prospective buyers will see it, improving your odds of getting the deal you want. However, your lifestyle or situation may not be compatible with frequent showing. We can help you determina a solution that best fits the situation.
6. Not “Staging” Your Home to Show it’s Best
Solution: Staging can mean lots of things for various homes and situations, but in general it means presenting your home to appeal to the greatest number of potential homebuyers. In some situations (vacant home) it may mean consulting a professional “Home Stager” and renting furntiture to give your home a warm and comfortable feeling. Often times it makes financial sense to have carpets cleaned, walls painted, and the home professionally cleand. In other situations it may mean removing clutter and adding small touches to make things look cleaner and larger.
Some simple solutions would be to put some items into storage, create more light, play music, set out candles and improve the overall ambiance. We can help create a great first impression.
7. Not Knowing the Competition
Solution: We strive to give our clients the best information as to what’s out there that a potential buyer might also be looking at. When possible we like to take our clients to look at the other homes and look at them from a buyers perspective. If you were viewing both homes, which would you buy?….and why?
8. Believing Your Agent is Not Doing the Job When There Aren’t Any Offers
Solution: Most sellers are unaware of all of the activity that goes on behind the scenes. Any agent can do the basics, but we strive to update our clients on all of the networking, advertising and marketing that continually goes into how we try sell homes. In general if the home is in good showing condition, is easily accesible and hasn’t generated any offers or interested buyers, it may be time to re-evaluate the price.
9. Not Re-Evaluating the Marketing Plan
Solution: We sit down and re-evaluate the marketing plan several times a month. We look at who is showing the house, the feedback we get, where we are targeting the marketing and advertising and are we reaching the right buyers. Every home is different and appeals to different type buyers.
10. Errors in Market Timing
Solution: We can help you determine whether the market cycle is poised to net you the most money. Many homesellers do not have the luxury of waiting, but for those that do, it may be best to list right away, wait a while, or even rent the home until the market is right.
11. Not Giving the Sales Effort Enough Time
Solution: You should never give too little time to what is inherently a long process. Homes may take 3-6 months to sell in any market. Estimate how much time you have before you “need” to sell and then plan ahead to allow extra time. You don’t want to be forced to accept a disappointing offer.
12. Taking an Inflexible Position on Financing
Solution: We can explain what financing options are available. Being flexible on financing terms may secure a better selling price, with other advantages as well. In markets that favor the buyer, certain financing offerings (such as seller financing) may be what makes your home sell while others don’t.
13. Not Making the Right Kind of Repairs
Solution: Don’t be tempted to make improvement’s or upgrades prior to listing your youme without consulting a real estate professional. Some upgrades will not yield any real increase in value which others may increase property value substantially.
14. Believing That Selling Property is Seasonal
Solution: Don’t base selling decisions on the seasons or time of year. Homes that are ready to show and priced well will see year round.
15. Not Screening Prospects Adequately
Solution: One of the best reasons for hiring a Realtor® is their ability to pre-qualify a prospect financially before valuable
negotiation time is lost. More importantly, your agent may discover when a prospect may just be shopping or “looking
for a deal”.
16. Believing That You are Not Part of the Marketing Plan
Solution: According to some statictics the sellers themselves are responsible for at least one out of every ten sales. You can network your home to your business and personal friends, neighbors, and keep the house in move-in condition. We can help let you know just how you can help.
Understanding a Land – Lease Property
**The following article was written many years ago but it’s still relevant today. There are not many land lease properties in the South Bay but there are some located primarily in Torrance and San Pedro.
Understanding a Land – Lease Property
By Patrick Barta
Special to RealEstateJournalA land-lease property is one in which the land beneath the building is owned by someone else. While such an arrangement can make buying a property a little more complicated and can in some cases reduce the unit’s resale value, it’s usually not a big problem, and it certainly isn’t a reason to dismiss the transaction out of hand.
Although land-lease properties are relatively uncommon, they do pop up in some big cities, especially New York. Typically, they occur when a real-estate investor refuses to sell the land that a developer covets for a residential building. If the developer really likes the location, and can’t find a good plot of land somewhere else, sometimes he or she will agree to a land-lease arrangement, paying to lease the land for a specified period — like 50 or 99 years — and then erecting the building. Land-lease arrangements are also known to occur when developers convert a rental property to an owner-occupied cooperative building, but the original owners refuse to sell the land.
There are downsides for people who want to buy units in these buildings.
The properties are sometimes harder to finance and consequently harder to sell, possibly reducing their resale value. There also could be some extra costs involved in owning the units, as well as some negative tax implications. But land-lease properties also have an upside: They’re often discounted relative to other nearby properties, offsetting some or all of the risk and hassle involved in owning them. In some cases, that discount is tiny, but in other cases, it can be as high as 25%, real-estate agents say.
One reason for all the hassle is that someone has to pay for the lease on the land, and often, that cost is split up among the owners of all the units. In many cases, that monthly lease expense is tacked on to the maintenance fees that are being charged to individual unit owners. Another weak point is that some lenders are afraid to extend credit for a land-lease property if the lease is likely to expire within a few years. Although it’s extremely unlikely the landowner would refuse to renew the lease or decide to build something new on the site — indeed, most leases are renegotiated in advance of the expiration — lenders still worry about their collateral, and the owner could jack up the lease fee. That, in turn, would raise the unit owners’ costs and possibly reduce the market value of the units.
Despite all that, if the land-lease arrangement has plenty of time before it expires — say more than 20 years — there’s little reason not to dive in. Once some of the terms are worked out, “it’s like any other purchase, and as long as you go into it with your eyes open,” you should be fine, says Stephen Kotler, an executive vice president at Douglas Elliman, a New York-based real-estate brokerage. At the very least, you could be getting a bigger, nicer unit than you would have been able to afford otherwise.
Their Loss is Your Gain – Oceanview Condo Back On the Market in Redondo Beach
Many potential home buyers think that they are priced out of Redondo Beach and that the dream of living near the beach and enjoying great ocean views is outside of their reach. The home located at 610 The Village in the heart of Redondo Beach may just be the perfect fit. This unique opportunity in The Village of Redondo Beach may be your way to buy in this iconic coastal city. This studio condo at 610 The Village #302 in South Redondo 90277 just fell out of escrow due to issues with the buyers. This is the lowest priced home in the city and the only property for sale in Redondo Beach priced below $500,000! This could be your transition from renter to owner…or a great investment property (last studio in the Village rented for $2,000 a month)…..or the perfect second home or vacation home. Contact listing agent Keith Kyle for more information on this great opportunity to own your piece of paradise in iconic Redondo Beach, California
Details:
- Price: $485,000
- 410 Sq foot studio
- Top floor with nobody above and only one shared wall
- Great ocean view
- Walk to the beach and pier
- 2 Parking spots
- Fantastic community amenities with several pools, fitness center, bbq areas, lounge areas near the pools, jacuzzis, parklike grounds and more.
610 The Village Photo Gallery
El Segundo Home Sales in May of 2019
What a month it was in El Segundo with nearly double the amount of home sales in May than usual. This was the biggest sales month we’ve seen in El Segundo in quite a while. See the South Bay home sales in other cities and neighborhoods.
Click here to see the current homes for sale in El Segundo CA
May 2019 Home Sales in El Segundo
Type |
|
Address | Sold Price | $ Per Foot | Bed/Bath | Sq Feet | Age | Sold Date |
CONDO/A |
900
|
Cedar ST #202 | $600,000 | $510 | 2/2,0,0,0 | 1177/A | 1978/APP | 5/2/2019 |
CONDO/A |
123 E
|
Oak AVE #303 | $680,000 | $541 | 2/2,0,0,0 | 1256/A | 1979/ASR | 5/2/2019 |
CONDO/A |
950
|
Main ST #201 | $690,000 | $587 | 2/2,0,0,0 | 1175/A | 1982/ASR | 5/3/2019 |
TWNHS |
400
|
RICHMOND ST #2 | $855,000 | $613 | 3/3,0,0,0 | 1395/ | 1990 | 5/14/2019 |
CONDO/A |
219
|
Whiting ST #1 | $890,000 | $541 | 3/4,0,0,0 | 1646/A | 1992/ASR | 5/21/2019 |
SFR/D |
617
|
Loma Vista ST | $950,000 | $1,033 | 2/1,0,0,0 | 920/A | 1919/ASR | 5/17/2019 |
SFR/D |
709 E
|
Pine AVE | $986,000 | $740 | 3/2,0,0,0 | 1332/A | 1948/ASR | 5/6/2019 |
TWNHS/A |
542 E
|
Imperial AVE #21 | $1,000,859 | $569 | 3/3,0,1,0 | 1758/B | 2018/BLD | 5/3/2019 |
TWNHS/A |
546 E
|
Imperial AVE | $1,037,000 | $590 | 3/3,0,1,0 | 1758/B | 2018/BLD | 5/3/2019 |
SFR/D |
615
|
Maryland ST | $1,090,000 | $665 | 3/1,1,0,0 | 1640/A | 1942/ASR | 5/17/2019 |
TWNHS/A |
548 E
|
Imperial AVE #18 | $1,127,000 | $579 | 2/2,0,1,0 | 1947/B | 2018/BLD | 5/2/2019 |
TWNHS/A |
590 E
|
Imperial AVE | $1,145,000 | $580 | 3/3,0,1,0 | 1974/B | 2018/BLD | 5/2/2019 |
SFR/D |
641
|
Hillcrest ST | $1,146,588 | $917 | 3/2,0,0,0 | 1250/O | 1956/ASR | 5/31/2019 |
SFR/D |
300 W
|
Acacia AVE | $1,152,000 | $1,005 | 3/1,1,0,0 | 1146/A | 1950/ASR | 5/1/2019 |
SFR/A |
928
|
EUCALYPTUS DR | $1,250,000 | 0/0,0,0,0 | / | 2018 | 5/28/2019 | |
SFR/D |
821
|
Concord PL | $1,385,000 | $504 | 6/3,0,0,0 | 2749/A | 1977/ASR | 5/30/2019 |
SFR/D |
605
|
Sheldon ST | $1,450,000 | $651 | 4/2,0,1,0 | 2229/A | 1953/ASR | 5/10/2019 |
SFR/D |
434 W
|
Maple AVE | $1,465,000 | $740 | 5/1,2,0,0 | 1980/A | 1954/ASR | 5/1/2019 |
SFR/D |
643
|
Whiting ST | $1,595,000 | $530 | 4/2,0,1,0 | 3011/A | 1990/ASR | 5/14/2019 |
SFR/D |
740
|
Sierra ST | $1,699,000 | $617 | 4/2,0,1,0 | 2754/A | 1942/ASR | 5/14/2019 |
SFR/D |
924
|
Fairing PL | $1,704,000 | $573 | 4/3,0,1,0 | 2975/B | 2018/BLD | 5/10/2019 |
SFR/D |
924
|
Camber LN | $1,780,000 | $598 | 4/3,0,1,0 | 2975/B | 2018/BLD | 5/1/2019 |
SFR/D |
925
|
Fairing PL | $1,800,000 | $601 | 4/4,0,1,0 | 2993/B | 2018/BLD | 5/3/2019 |
SFR/D |
752
|
Bungalow DR | $2,210,000 | $561 | 4/4,0,1,0 | 3938/A | 2002/ASR | 5/15/2019 |
SFR/D |
618
|
Lomita ST | $2,495,000 | $463 | 4/3,2,1,0 | 5388/AP | 1943/ASR | 5/6/2019 |
April 2019 South Bay Home Sales
April was a solid month for real estate in the South Bay with the market seeming to pick up a bit of steam after a relatively sluggish start to the year compared with the end of 2018.
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