Monday, April 07, 2008

Sales Prices Over List Prices in Burbank

Is the market here in the Valley coming back? Or reverting to its old self now that loans are a little easier to get? The bottom picture is 428 N. Orchard in Burbank. It's a 3+2, 1400+sf, and was on the market for 7 days. It listed at $505,000 and sold above that price at $521,000. The top right house is at 2301 Chandler. It's a 2+1, 1364 sf, and has kind of a funky floor plan. Plus, it's on Chandler, which people either love or hate. Nevertheless, it was listed at $499,000, and sold in 9 days for $511,000. The left house is at 435 Stanford and is 3+4, 1943 sf., and no, it hasn't sold yet. But it's in escrow after only 3 days on the market.


  1. Anonymous8:25 PM

    Sounds like if you get the price right you get some bids pretty quick. So why isn't 848 Idlewood pending?

  2. Anonymous5:52 AM

    the good houses are going fast I think. I have been beat out of the running on five offers I have made in 6 weeks time. I have not even been fast enough on 8 other houses. Not in your area but also in So Cal. Let those folks at LA Land keep waiting for the prices to go down. They will still be renters.

  3. Anonymous2:14 AM

    Im with Anon 1, if sales are so fantastic and buyers are chomping at the bit to buy, why hasn't your listing sold?

  4. For the posters who asked about Idlewood: you must be Realtors if you know that the house hasn't sold. Why don't you view it and tell me why?

  5. Anonymous3:27 PM

    Wasn't your point of your post showing how the market is coming back with houses flying off the market with multiple offers over list price?

    And yet here your listing sits.

  6. Burbank is fortunately for agents somewhat stable. You have the studios (I work for one) and with the cost of commuting and the strike (WGA) over, Burbank will do better than the rest of the valley. We are looking in the area we live in. Granada Hills, north of Rinaldi or Nothridge and it's a dying or dead market for sellers. Burbank is a rip-off if you can drive 25 more minutes or 18 more mile and you get more house, more lot and less Burbank for your money. With REO's and short sales, houses that are 2000 + sq ft with a 10,000 sq ft lot are going for 200 to 400k less than three years ago. I can't look at Burbank with their 1 car garages and 1300 sq feet so I can deal with Hollywood way and them (the city) working on the street daily...DURING RUSH HOUR.

    Different strokes... you know the rest.

  7. Dobie, I've always been a big fan of Granada Hills and Northridge. I've sold homes there many times, and I always tell potential buyers that your money goes really far there. A client of mine moved there a few years ago from Burbank. Her commute to her business in North Hollywood actually became SHORTER.