Lynne Pope

Whiting is one of the best streets in El Segundo, California. This location is prime real estate for home owners.
A+ home, A+ location or A+ price

That is the mantra of all real estate agents that I know right now. We are working to understand buyers in this market. Sometimes people say oh its just like the 70’s 80’s or 90’s but it is never just like…alike. It is always like, but unlike.

The A+ home can be any size and shape but has to be really sharp. It’s clean, really well maintained, cared for and loved. The inside and the outside show the care and pride of ownership. Some top agents get the seller to move out much of their furniture and photos and just stuff…to get this sharp ready to sell look. It’s got fresh paint and no tired anything, floors, toilets, kitchen, plants, you know what I am talking about!

A+ location you know this also. Is it across from a home with cars parked on the lawn, units, businesses, or on a busy street? Its everything surrounding the property. It is how a buyer sees the area.

A+ price. This is simple also. There are divided areas by any way you want to compare.

Match your price to beat out the others in any category if you want to attract buyers- in any market.

That’s what I like about this rule of thumb. It’s true in any market!

photo by Lynne Pope- do not use without permission

Property prices for sale in the 90505 zip code over the last 2 years has not changed much, its still in the low 400 range the overall price per sq foot shows. The concessions have changed. It took a while for sellers to accept that it is now the buyers market. They sometimes pay closing costs or repairs which was rarely the case in the years past.

Real estate agents use the comparisons that the bank appraisers use; last 3 ms of sales, similar sq foot home and lot, year built, and MLS area. This is a simplified fact that still has to take into account amenities, condition, location, corner lot, cul de sac, view, pool, flat lot, and upgrades.

The saying right now is this “A+ home, A+ location or A+ price.”

LOCATION not far from the BEACH! about 4 miles

90505 has 13 listings in one area with the following boundaries

East of Hawthorne Blvd, North of Lomita Blvd

West of West of Crenshaw Bl. South of Sepulveda Blvd

SIZE

sq footage on average is 2000 sq foot. 4 bedrooms and lots averaging 6000 sq ft

PRICE

The price for sale ranges from 925K down to 660K however most are in the 850 range Two= 780 and 799 Two =925, 975

The rest are 829-890

Buyers are buying now with a few multiple offers. Sellers are selling now for reasons they always had, Moving, up or down, or away and some are bank issues. Of all these properties there is only one short sale in the 900 range. The Bank is starting high. Interesting note. They are not discounting to price offered as so many people assume. They may accept, as any seller, a lower offer.

This is a stable area. It is a great time to buy and some buyers are starting to see that past the press. Investors are buying. This is the time they were waiting for and cashed out of properties for. Anyone have a friend in finance? They projected it and prepared for it.

Guess why the are buying? So they can ride the next wave. Just call it the 10 year ride.

Photo by Lynne Pope -do not use without permission.