Monday, May 21, 2007

Increased activity

Good news for sellers of Burbank real estate: homes for sale inventory in the Burbank, Toluca Lake, Studio City and Hollywood Hills areas seems to be thinning out and properties are selling faster. And even going in multiple offers. Of course, the properties selling quickly are the ones that are in great shape, updated and priced right to begin with. Will this stop or slow down again? Prediction: yes, after July, as it usually does. As always, if a property needs work, is non-conforming, priced too high, etc., it's staying on the market for a long time.

1 comment:

  1. I invest in residential properties from time to time, and I found a website that helped me out a lot. You have to pay for the reports, unlike other sites, but the thing about this is that the reports will tell you whether there is any funny business going on in the neighborhood like property flipping or a high rate of foreclosure. It’s helpful to me because I am not familiar with some of the neighborhoods that I invest in, so I know if I am getting screwed. The report tells me if there is any market sketchiness. It’s pretty sweet, you should check it out.