911 Cedar Sreet 90245

Alex Abad’s home dujour is at 911 Cedar St. The 2347 sqft 4/3 is priced at $1.63 mil. $692/sqft.

I mentioned buyers in El Segundo should look to buy in the $700/sqft range but for larger homes the average is far less. Most of the homes over 2000 sqft  are in the mid to high $500s to low $600/sqft range.

The home is BIG, but seems big in a big for no reason kind of way. It reads like it was built in the 90s. There is nothing special about Cedar. It last changed hands in 2014 for $1.1 mil. And now less than four years later someone (Alex Abad) thinks this home has appreciated 53%! Anyone else making 50% more working the same job they were four years ago?

Inflation, schminflation.

But it will sell, just like every other overpriced home in El Segundo because it just takes one greater fool to keep the dream alive.



CNBCs take on the problems of California


Californians fed up with housing costs and taxes are fleeing state in big numbers


A USC Dornsife/Los Angeles Times Poll of Californians last fall found that the high cost of living, including housing, was the most important issue facing the state. It also found more than half of Californians wanted to repeal the state’s new gas tax, which raised fees by 40 percent.

The median monthly rent for a one-bedroom apartment in the Los Angeles area is $2,249, and in San Francisco it’s almost $3,400, according to Zumper. The median rent for a two-bedroom apartment in the Los Angeles area is $3,200 and in San Francisco about $4,500. By comparison, the median rent for a one-bedroom in Las Vegas is $925 and in Phoenix $945, and for a two-bedroom in Las Vegas $1,122 and in Phoenix $1,137.

Internal Revenue Service data would appear to show that the middle-class and middle-age residents are the ones leaving, according to Joel Kotkin, a presidential fellow in Urban Futures at Chapman University in Orange, California.

California is often criticized as one of the highest-taxed states in the nation.



Much ado about nothing on Concord

I swear, facebook has created a generation of imbeciles. The scary thing is that it’s a combination of all generations acting a-fool online. The baby boomer who calls you to ask for tech support instead of just typing the same question into Google now uses facebook on the regular. The GenX who grew up with the internet and now has his/her own personal soapbox and the millennial that has grown up with a a sense of entitlement and fairness because everyone deserves a trophy.

So now you have a bunch of locals beginning their armchair social activism campaign about a 90 year old home that got torn down. Boo Hoo.

It must have been a slow news day in El Segundo because the comments section lit up when someone complained that 503 Concord St El Segundo CA 90245 was town down.  This was my description of the $1.4 million 1400 sqft home when I wrote about it a few months ago.

Vintage spanish home. Needs new baths, kitchen and more than likely needs updating to plumbing and electric. If you love that nostalgic feeling of visiting the house your mom grew up in, this is for you. It’s like visiting Granny’s house. The hardware, walls, appliances and condition of the home will remind you each time you write that $6,000 check that you are paying to live in what would have been the coolest digs in 1974. 

There was talk of starting a historical society to preserve the look of our town. “Such a shame, we can’t let El Segundo change!” Translation:

Not In My Backyard

What the hell? People with no financial means to purchase nor take on a project like 503 California talking political action to “protect” El Segundo.  The home was a PIECE OF SHIT. Not only that, it was an expensive POS and to add insult to injury because of it’s design and lot size it would have been near impossible to improve or enlarge it economically.

I understand everyone’s concern that El Segundo shouldn’t become Manhattan, nor have McMansions door to door like Westchester, but the armchair vigilantes are killing society.

Funny how these images weren’t shared on ESPN: EVERY bath needs updating, it has no master bath, needs a new kitchen…I can only imagine the electric, plumbing, HVAC and roof needed updating….This $1.4 mil fixer was going to require $250K just to get it up to the level one would hope for a $1.4 million home. And now the lynch mob wants to handcuff potential buyers with regulations and rules on how to preserve one 90 year old spanish home? Should we protect the other 90 year old POS homes in El Segundo? What about all the quaint 1000 sqft 1940s homes?

Here’s your precious Concord.

A new mini home in El Segundo

Is it fair to call a 1000 sqft home tiny or mini? The newest addition to the El Segundo listings is a 1050 sqft 2/2 located at 1538 E Elm Ave. Listed by David Seyferth based out of Manhattan Beach and priced at $1.125 mil. $978/sqft or just half a mil per bedroom.

Back to my question. I have kids, kids have crap, kids get bigger and for me to think I could sacrifice my sanity to cram four people in 1000 square feet is not worth the $6k/month this home will cost. So what is my tiny, may be your perfect size.

Hey look, you can watch TV from the kitchen. That may be the only place you can actually sit down, but hey you are a home owner!

There’s also some history of a prior listing. It was listed in July 2017 by another out of town agent for $1.075 mil but they gave up three months later. The homeowner paid $238,000 for this home in 1998.


Terry Rogers thinks we are schmucks

The flip at 433 W Maple is still sitting. What is actually a decent home with worthwhile upgrades made during the flip has sat for fourth months. Hmmm.

Maybe it’s because Terry Rogers, the listing agent dujour, thinks we are schmucks.

What was once listed by a different pair of Orange County based agents for $1.299 mil in November was jacked to $1.35 mil by Terry when she took over the listing.

So now after sitting for three months she drops the price to $1.33 mil.


Maybe the current status of her listing is a a little “welcome to El Segundo” F.U.


A livable SF home in El Segundo for under $1 mil!

I figured it was a missprint. Must be some bait and switch tactic. Who in their right mind would list a fairly cute, fairly clean, although small single family home in El Segundo for under a mil?  DON’T THEY KNOW! $1000/SQUARE FOOT OR IT GETS THE HOSE!

Well maybe Gina Hoffman just wants to unload this hidden gem. It’s been a very long time since we have seen a SFH under a mil. Granted 686 W Palm is still is expensive at $881/sqft and it is buried in the back of a flag lot on a hard to find WTF section of W Palm, but hell, it’s under one million dollars and it has three bedrooms!

I even started doing some back of the envelope math – add 400 sqft at $450/sqft = $180k Plus six months double rent/mortgage – $27k. Add some “we didn’t figure this into the budget cushion” $25k and in nine months (yes not six) you’ll have a nice home. Granted your friends may not be able to find it and the new UPS guy will say your address doesn’t exist, but you’ll have a great home for about $1.3 mil.

But then I looked at Google maps. And wondered if there was a garage? And does it really have an HOA? And who the hell is Neal J Boushell ( listed as HOA)?

Who the hell designed this section of El Segundo?

686 W Palm is not really on W Palm, it’s behind it. Accessed through an alley, then your front door is another alley; which also happens to be someone’s effing driveway! WHAT IN THE BLOODY HELL?  I changed my mind, it’s all yours. And for the life of me I don’t see a garage; which I thought wasn’t to code. But I could be wrong.

Yeah, just head down no name street OFF of Palm to find the alley your new home is on. You’ll be shocked to find out there are a bunch of hidden homes back there.


That’s your front door on the right, but that is not your garage.



People are bailing

Let’s face it; it has always been challenging to live in Los Angeles. The traffic, the amount of people, the gross number of self-centered people that gravitate to LA. I don’t want to sound like a complaining grandpa, but it’s gotten worse.  And to add insult to injury now Los Angeles is becoming entirely unaffordable.

No matter where you look the situation is dire. I took a gander at some soon to be gentrified neighborhoods and see home prices that are no way tied to income levels for the area. Are you telling me all these families make $125-150K a year and have $75-150 k in down payments? They all have wealthy family members that can float em $100k?

Inglewood – 3/2s over 1500 sqft ~$700k – School scores 1,3 and 4

Gardena ~high $600s School score 3s and 4

Lawndale -~$800s  – School scores – 5s

The school score is on a scale of ten!

If California’s the future, why are so many leaving?

A sobering study shows how life in the Golden State continues to get too expensive

California is seeing a net gain in high earners (making $110,000 or more) and the highly educated (graduate degrees or higher), while losing those representing the other end of the socioeconomic spectrum. … In other words, California’s experiencing what looks like statewide gentrification.

Delusional on West Sycamore

I swear realtors must have been the kids in class that were always looking over your shoulder to copy your work. Herd mentality.

The brain trust that is known as the Klapper Group thinks they can saunter in El Segundo and shoot for the moon. The horribly staged, 1388 sqft home at 655 W Sycamore is listed for $1.3 mil. 

While we are seeing reductions almost every day and have evidence of nice homes in the mid $700/sqft range these geniuses think their flip is worth $933/sqft.

In my original post I mentioned that the home sold for $936k last April and was only 984 sqft. I also figured they would go for $1.3 mil if they added square footage. Maybe I should be a realtor, I’m good at guessing and copying others’ work. Now that I think of it maybe they didn’t add the square footage. It could have been the previous owner and Refin wasn’t up to date? Because who in their right mind would add 400 sqft and not add a stinkin bathroom? Please oh please tell me that a flipper skimped out on the bath!

So now you know.

Is that even a bed under the bedspread?