L.A. real estate news and insights.
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Burbank's Rancho District.
Asking price: $1,498,000
This 2 story home has 4 bed/2 bath, 2,590 sq. ft. of living space, and is on a 6,300 sq. ft. lot.
The home features stainless steel appliances in the kitchen, a separate laundry room, and the den opens to the backyard.
Close to Griffith Park and Los Angeles Equestrian Center.
Homes are selling even faster than they were at this time last year as buyers continue to compete in the housing market. Housing inventories are lower as well, down 28% from a year ago. In December 2021, the National Association of REALTORS® reported that existing homes for sale fell to an all-time low.
With fewer listings of homes last week, buyer interest again outpaced homes available, writes Danielle Hale, realtor.com®’s chief economist, in a weekly analysis posted at the site.
“With fewer homes for sale now than this time last year, homes are selling faster and successful buyers have to move quickly,” Hale writes.
Nationally, seventy-nine percent of homes sold in December 2021 were on the market for less than a month, according to the National Association of REALTORS®. Properties typically remained on the market for just 19 days in December.
As rents rise at a double-digit pace, renters are looking to homeownership for the safety net of a steady mortgage and hopes of long-term appreciation. Mortgage rates that remain under 4% are also an incentive.
However, the fear of rising rates has driven a “rush on new-home sales as buyers try to sign contracts to lock-in rates and beat further cost increases,” Hale says.
Hale says housing indicators point to additional sellers entering the market this spring, which buyers would welcome as they look for a bigger selection in the housing market. Surveys show that more homeowners are planning to sell over the next 12 months. With single-family home construction at a 1 million-plus pace, inventory is expected to improve in the coming months.
“Additional housing supply is what’s needed to help first-time home buyers and add momentum to the homeownership rate,” Hale says.
This 2 bed, 2 bath move-in ready condo is coming soon to Valley Village.
Asking price: $524,999
5604 Rhodes Ave. #103
Valley Village, CA 91607
For more info, text me at 818-445-7953.
Here is the cheapest home sold this week in Burbank.
Asking price: $550,000
Selling price: $575,000
This Bungalow has 1 bed/1 bath, 660 sq. ft. of living space and is on a 2,276 sq. ft. lot.
The home features a new roof and updated electrical/plumbing.
Did the buyer get a good deal?
There were 57 property sales in Burbank for January 2021.
Best fixer upper this week in Burbank.
Asking price: $749,000
This home has 2 bed/1 bath, 949 sq. ft. of living space, and is on a 6,748 sq. ft. lot.
There is a 479 sq. ft. unpermitted guest house, an attached garage, and a large backyard.
The home is being sold "as in" condition.
Text me if you want a tour at 818-445-7953.
There was a huge jump in Burbank property sales last year.
In 2021, Burbank had 876 property sales.
In 2020, Burbank had 703 property sales.
Do you think 2022 sales will outpace 2021 sales?
There were 78 property sales in Burbank for November 2020.
This is the most expensive home for sale this week in Burbank.
Asking price: $1,749,900
This reimagined modern farmhouse has 4 bed/3 bath, 2,391 sq. ft. of living space, and is on a 7,140 sq. ft. lot.
The home features oak flooring, a custom installed fireplace in the great room, and stainless steel appliances in the kitchen.
The garage is converted into a studio, and there is a patio and grass in the backyard.
Text me if you want a tour at 818-445-7953.
Beautiful home with fully remodeled kitchen/bath on a huge lot.
Congrats to both the buyer and seller.
What a great property and transaction!
There were 83 property sales in Burbank for October 2020.
Here is the most unbelievable home sold this week in Burbank.
Asking price: $995,000
Selling price: $1,125,000
This cottage-style home has 3 bed/ 2 bath, 1,571 sq. ft. of living space, and is on a 6,931 sq. ft. lot.
The unfinished home was sold in "As-is" condition to an LLC.
Do you think the new owner will remodel, tear down and build a new home, or build 4 units?
This move-in-ready condo is in close proximity to the Westwood Village and Beverly Hills.
There is also tons of shopping, entertainment, and dining at the close by Westfield Century City.
Let me know if you want more info BEFORE it hits that market.
Text me at 818-445-7953.
"Hot Home” alert in Burbank.
Asking price: $975,000
This home has 2 bed/1 bath, 1,183 sq. ft. of living space, and is on a 6,726 sq. ft. lot.
The kitchen and bathroom have been renovated.
There is an oversized 2.5 garage and a detached back cottage that could be an office, playroom, or ADU.
Text me if you want a tour at 818-445-7953.
There were 75 property sales in Burbank for September 2020.
