I sold 2112 N. Brighton in Burbank sold in early October for its list price, $430,000. That price seems low for a Burbank home these days, yes? What happened here?
One word, three times: location, location, location. This home is located 1 block from the freeway, one block on two sides from industrial property, and six blocks from the airport. All of these elements -- known as "incurable defects" -- served to keep the price below average.
Plus, the house itself was not large -- it was a 2+1 with a den. There was no air conditioning. It needed a lot of updates. The sellers let the yard go. The only exciting feature was a new garage at the back of the property.
And we asked potential buyers to forego pest work of about $6000. (Yes, pest work is negotiable.) Plus, the sellers had just purchased another home, so they weren't inclined to wait for a higher offer. We had it in escrow within five days of listing and a fair price was had by both sellers and buyers.
Judy Graff's sublime-to-the-ridiculous (well, mostly ridiculous) take on real estate for east San Fernando Valley and North Los Angeles communities. This includes Hollywood Hills, Burbank, Studio City and Toluca Lake real estate and homes for sale, and also covers Valley Village, North Hollywood, Glendale, Atwater, Highland Park, Silverlake, Sherman Oaks and other L.A. areas too. General news and musings as well.
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