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Here are the Burbank home sales for September, October and November.
If you look at the chart below, you’ll notice a few things. First, the number of new listings, while showing a brief spike in October is down.
Average days on market is trending higher and the number that went under contract, or pending increased, most likely to all those buyers that were trying to get in before the initial November 30th deadline for the home buyer credit.
Average list price is down and the percentage of sales price over list shows that homes are selling for very close to the listed price. This tells us that properties, for the most part, are being priced well and we’re not seeing huge discounts over the list price.
Average sales prices are down from September levels, and seem to be adjusting back to the levels we saw at the beginning of the year.
Read article here
The FAA (Federal Aviation Administration) ruled this week against the Burbank-Glendale-Pasadena (Bob Hope Airport) Authority's application for a mandatory curfew from 10pm-6:59am. The news released this week, for those of you, like me, who have been following this issue for many years is disheartening, but not surprising.
To give you some background, Burbank, Los Angeles and Glendale residents have been advocating for this curfew since the 1970's. There is currently a voluntary curfew in place, but residents would like to make it mandatory as they see a risk of increased air traffic in the future.
On the good news front, this was the first application ever to make it through the entire FAA review process. The problem is that if the FAA rules for this curfew, then other smaller airports such as Van Nuys and Ontario Airports would be able to ask for the same treatment. The reason for the denial is that the FAA said the curfew would hinder business in the air and on the ground.
The next step appears to be litigation, which is supported by our local city officials and Congressman Brad Sherman. The request for a mandatory curfew would exclude medical, emergency and a number of cargo flights.
There are approximately 180,000 residents in Burbank, Glendale and Los Angeles who live under the flight paths and the area homeowners are committed to getting this curfew in order to maintain their quality of life.
Links Photo Gallery
Backyard
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Living Room
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Dining Area
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Master Suite
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Master Bath
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Bedroom
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Bedroom
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Bathroom
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Front of House
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Description Beautiful Chatsworth Lake Manor home featuring formal entry, remodeled kitchen with granite countertops, large master suite with two walk in closets, private yard. Regular sale, don't miss this gorgeous home!
Features | Bedrooms: | 3 | | Bathrooms: | 3 | | Parking Spaces: | 2 | | Year Built: | 1990 | | Lot Size: | 4000 | | Garage Size: | 2 Car | | School District: | Los Angeles | | Square Footage: | 2099 | | Agent Name: | Ana Connell | | Broker: | Keller Williams Realty-World Media Center | | MLS #: | F1824930 |
Location | Powered by vFlyer.com | vFlyer Id: 2925482 |
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I just found this post about home inspections and found lots of valuable information for sellers. If you are thinking about selling your home you usually declutter, spruce up the front and back yards, but you don't think about the things that a home inspector will be looking for.
Buyers will ask for repair money on many of these items.
These great tips that will save you money when you are in escrow.
Via Russel Ray, San Diego home inspector (Russel Ray, Property Consultant):
 Since home sales seem to be picking up around the nation, following are some helpful hints if you're a Seller, and some helpful hints for your Seller if you're the agent.
This list is San Diego specific, so modify as necessary for your area. Don't do something that you're not comfortable doing; hire a professional do to it.
OUTSIDE
- _____Check that doorbells work.
- _____Check for missing roof shingles.
- _____Check for loose/damaged/clogged gutters/downspouts.
- _____Check attic ventilation and condition of vent screens.
- _____Check to see if there is standing water, especially near the foundation, after irrigation or rainfall.
- _____Check for cracks in foundation walls.
- _____Check structure (including attic and foundation crawl space) for pests (termites, wasps, spiders, nests, etc.).
- _____Check exterior weatherproofing (stain, paint, etc.).
- _____Check for any wood in direct contact with soil, including fences and gates.
- _____Check for loose wiring (electric, cable, phone) and poor wire terminations.
- _____Check for holes and damage to siding, doors, windows, and trim so that structure is weatherproof.
- _____Check condition of fences or gates (leaning, damaged).
- _____Check that any exterior outlets are weatherproofed and not in permanent use for any landscape lighting.
- _____Check condition of landscape components (retaining walls, landscaper timbers, etc.).
- _____Check for overgrown vegetation, especially in walkways; growing on siding, roof, chimney, fences, or in gutters; or too close to utility lines.
- _____Check for trip hazards in walkways, driveways, and stairways (deterioration, vegetation, etc.)
- _____Check for loose, missing, or rusted guardrails and handrails at stairways, decks, balconies, and porches.
- _____Check that landscape lighting/irrigation systems work, and that sprinklers don't spray on fences or buildings.
- _____Check condition of pool and spa, and related equipment and utilities.
- _____Check that ponds, fountains, and waterfalls, and related utilities, work properly and are protected from children.
PLUMBING
- _____Check that seismic straps are on the water heater.
- _____Check that stoppers work in bathtubs and sinks.
- _____Check for clogged drains.
- _____Check that toilet seat bolts and screws are tight.
- _____Check that faucets don't drip or leak around the base.
- _____Check stop action on faucet handles.
- _____Check condition of caulk/grout in bathtubs/showers.
- _____Check insulation on water pipes in foundation crawl space and attic.
- _____Check for safe and easy access to water shutoff valves (street curb, water heater, sinks, toilets, etc.).
- _____Check for safe and easy access to any gas shutoff valves (meter, furnace, water heater, etc.).
- _____Check for loose toilets and loose toilet tanks.
ELECTRICAL
- _____Check for safe and easy access to electric panels and main circuit breaker.
- _____Check that ceiling fans work on all speeds.
- _____Check for burned out lights, including ceiling fans.
- _____Check for damaged or loose outlets and light switches, including covers for outlets and switches.
- _____Check for unplugged appliances, and unplug anything that is unnecessary to facilitate outlet testing by the Buyer's property inspector.
- _____Remove extension cords and outlet multipliers.
- _____Check that outlets work.
- _____Check for outdated two-prong outlets and upgrade them to three-prong outlets.
- _____Check for properly working GFCI outlets in kitchen, bathrooms, garage, and exterior.
- _____Check that exhaust fans work in kitchen, bathrooms, and laundry area.
- _____Check that any electrical junction boxes have covers.
INSIDE
- _____Check condition of towel holders and bathroom tissue holders.
- _____Check condition of bathtubs, showers, and shower doors, and replace old shower curtains.
- _____Check that safety seal shows on floor-to-ceiling windows and glass doors.
- _____Check that carbon monoxide alarms work.
- _____Check that smoke alarms work, and that they are present on each floor of multi-story houses.
- _____Check for loose kitchen and bathroom countertops.
- _____Check ease of operation for doors (including closet doors and cabinet doors), drawers, and windows, including windows nailed or painted shut.
- _____Check for missing, loose, or damaged hardware on doors (including closet doors and cabinet doors), drawers (stops and guides), and windows.
- _____Check for loose glass panes in windows and doors, as well as glass with holes or cracks in them.
- _____Check that latches/locks work on doors (including closet doors and cabinet doors), drawers, and windows.
- _____Check for damage to screen windows.
- _____Remove excessive storage (closets, attic, garage).
- _____Check for damage to walls and ceilings that need to be patched and painted.
- _____Check for moisture stains on ceilings and walls; around doors and windows; near sinks, toilets, bathtubs, and showers; and near the dishwasher.
- _____Check for loose, missing, or damaged guardrails and handrails in stairways.
- _____Check for loose, broken or missing baseboards and door and window moldings.
- _____Check for cracked tiles or deteriorated grouting in kitchen and bathrooms.
- _____Check that kitchen appliances work.
- _____Check that an anti-tip device is installed on the range.
MISCELLANEOUS
- _____Let dogs and cats vacation for a few hours with a family member, friend, or at a pet spa. Check that other pets (birds, snakes, rodents, etc.) are caged.
- _____Certain items should be inspected annually due to their inherently dangerous nature. These include gas-using appliances, pool/spa equipment, roof, and the fireplace and chimney. If they have not been inspected within the last 12 months, having it done now can make escrow go more smoothly.
- _____Check that filters are in place and clean (kitchen range hood, heating/cooling, bathroom fans, etc.)
- _____Check for soot, cobwebs, and wildlife in the fireplace and lower areas of the chimney.
- _____The Chimney Safety Institute of America (CSIA) recommends that the fireplace and chimney undergo a Level II inspection any time real estate ownership is transferred, and I recommend having that done prior to the Buyer's inspection.
- _____Check that the fireplace damper opens/closes easily.
- _____Check for manufacturer installation guides, operating instructions, or user guides that you can provide to the buyer, especially for kitchen appliances; heating and cooling system; water heater; security, irrigation, fire suppression, central cleaning, and water modification systems; water well; and septic system.
- _____Many property inspectors exclude inspection and testing of some specialized systems, such as security and irrigation systems. Once you get the Buyer's inspection report, note what the Inspector did and did not do or could and could not do. Offer to meet with the Buyer to demonstrate how those systems are operated and maintained, and provide the contact information for any companies that regularly service the systems.
- _____Check for receipts and warranty papers for any work done on the property, particularly for inspections and work done to prepare the property for sale.
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If you are a first time home buyer, you will want to know who is expected, typically, to pay for what expenses in the home buying transaction process.
This list is intended as a guide and keep in mind that everything is negotiable and you can ask the seller to pay for certain fees or closing costs.
Typical buyer expenses:
• Title insurance premium for the Lender’s policy
• Half of the escrow fee
• Document preparation fee, if applicable
• Recording charges for all documents in buyer’s name
• Buyer notary fees
• Tax proration from the date of acquisition
• All new loan charges, with the exception of any lender requires seller to pay
• Interest on new loan from date of funding to 30 days prior to first payment date
• Assumption or change of records fees for taking over an existing loan
• Beneficiary statement fee, if assuming existing loan
• Inspection fees, which include property, roof, plumbing etc.
• Fire insurance premium for first year
Your realtor should help guide you through the offer and counter offer process so you are informed and can safely negotiate the appropriate costs/fees.
Here are the current stats for Burbank homes-active and pending sales:
Active - 109 Properties
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Bedrooms
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Baths
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Square Feet
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List Price
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LP/SqFt
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DOM
|
|
Min
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1
|
0
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480
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$335,000
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$0.00
|
0
|
|
Avg
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3.1
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2.25
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1946
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$763,406
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$373.75
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71
|
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Max
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6
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7
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6204
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$3,500,000
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$1,409.24
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593
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Pending Sale - 76 Properties
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|
Bedrooms
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Baths
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Square Feet
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List Price
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LP/SqFt
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DOM
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|
Min
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2
|
1
|
810
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$217,800
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$0.00
|
0
|
|
Avg
|
2.9
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2.00
|
1624
|
$550,561
|
$321.50
|
31
|
|
Max
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6
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5
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4400
|
$1,299,000
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$695.33
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217
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Active and Pending - 185 Properties
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|
Bedrooms
|
Baths
|
Square Feet
|
List Price
|
LP/SqFt
|
DOM
|
|
Min
|
1
|
0
|
480
|
$217,800
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$0.00
|
0
|
|
Avg
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3.0
|
2.25
|
1814
|
$675,967
|
$352.29
|
55
|
|
Max
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6
|
7
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6204
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$3,500,000
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$1,409.24
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593
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Information is Believed To Be Accurate But Not Guaranteed
The Housing Market Index report came out yesterday and showed a 2 point increase over April's report.
This follows on the heels of a 5 point jump in April's report. 
Yesterday this news was viewed as a very positive sign for the future direction of the housing market. Fast forward to today, the Housing Starts report came out and showed that starts fell dramatically going to lows not seen since 1959. Housing Starts fell 12.8% in April, 8.5% in March.
The pain was felt most in the Northeast, Midwest and South as the West showed the best news with a 42.5% increase in starts.
To put these numbers into context you need to realize that this(Housing Starts) statistic is a lagging indicator, meaning that it takes a while for any rebound to actually show up in these numbers. Having said that, inventories in many parts of the country are very high. Again, real estate is local, very local.
Here in the Burbank/Toluca Lake/Glendale real estate areas inventory is high in some of the higher price points, but if you look at the 400-550k market, inventory is not bloated at all. Properties that are priced well are selling quickly as there are many buyers at this price range.
This market is unlike any we've seen before and can be very confusing for both buyers and sellers. There is no doubt that pricing is key to selling properties quickly. The take away should be that these numbers can be interesting, but really don't tell you much about your real estate area.
If you really want to know what's going on in a particular neighborhood and at specific price points you need to drill down and study the inventory, recently sold homes, pending homes to gain insight on the true picture. Ask your realtor if there are multiple offer situations, if so at what price points. All of these statistics help give you a much better picture, which is important for sellers looking to price their home for a quick sale and for buyers wanting to present offers that get accepted.
Categories
• Blogroll (180) • Burbank/Surroundings Foreclosure Listings (8) • Buyer Information (18) • City News (17) • Economic Market Reports (79) • Events (5) • Go Green! (15) • Government Issues! (22) • Housing Information/Stats (65) • Neighborhood Info (6) • Off the Beaten Path (4) • Seller Information (13) • Zoning Issues (4) Latest Postings • 19. May 2009: Housing Market Index and Housing Starts
As you can see, not all areas are created equal when it comes to homes for sale and actual homes sold.
While some of our local areas are mirroring the national statistics there are a few areas that are had healthy sales and price increases as compared to March 2008.
| Zip Code |
# Homes Sold |
Median Home Price |
% Chg From March 2008 |
Median Condo Price |
% Chg From March 2008 |
SFH Price Per Sq. Ft. |
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90068
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16
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$950,000
|
-13.40%
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$552,000
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30.80%
|
$458
|
|
91040
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10
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$265,000
|
-40.10%
|
210,000
|
-29.90%
|
$264
|
|
91042
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14
|
$355,000
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-34.00%
|
208,000
|
n/a
|
$273
|
|
91201
|
11
|
$533,000
|
-21.90%
|
323,000
|
n/a
|
$349
|
|
91202
|
10
|
$733,000
|
18.10%
|
352,000
|
-20.00%
|
$345
|
|
91207
|
3
|
$1,166,000
|
83.60%
|
$372,000
|
6.70%
|
$418
|
|
91208
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7
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$633,000
|
-12.80%
|
n/a
|
n/a
|
$390
|
|
91501
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5
|
$480,000
|
-33.80%
|
$395,000
|
-24.40%
|
$279
|
|
91502
|
1
|
$400,000
|
n/a
|
$392,000
|
5.90%
|
$267
|
|
91504
|
7
|
$515,000
|
-23.10%
|
$382,000
|
-12.20%
|
$352
|
|
91505
|
16
|
$441,000
|
-16.80%
|
$415,000
|
38.30%
|
$382
|
|
91506
|
8
|
$448,000
|
-9.40%
|
$345,000
|
-9.00%
|
$353
|
|
91602
|
6
|
$631,000
|
-16.40%
|
$465,000
|
9.20%
|
$411
|
|
91604
|
13
|
$750,000
|
-14.80%
|
$380,000
|
-12.60%
|
$357
|
|
91607
|
6
|
$492,000
|
-31.00%
|
325,000
|
-21.70%
|
$338
|
Burbank Real Estate Report -March 2009
|
SFR
Avg Sale Price-2 bed
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SFR
Avg Sale Price-3 bed
|
SFR
Avg Sale Price-4 or more bed
|
Condos
Avg Sale Price
|
Condos
Units Sold
|
Total Avg List Price
|
Total Avg Sale Price
|
Total Units Sold
|
Avg DOM
|
|
$407,700
|
$512,100
|
$734,200
|
$374,500
|
15
|
$509,101
|
$478,647
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38
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59
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Recap:
Days on market are down to 59, from 63 in February.
Average sale price is up almost 3% from February.
Total homes sold rose to 38 as compared to 28 in February.
Overall the trend is looking better as prices are stabilizing, more homes are selling and the time on market is decreasing.
Information is believed to be accurate, but not guaranteed
Thinking about greening your home?
With so many resources, where do you start?
One of my favorite websites is GoGreenTube.com. It's a fantastic resource filled with green videos on that talk about sustainable ideas, tips, how to advice, resources, products and much more!
It gets warm here in Burbank and the San Fernando Valley, especially during the summer. So I'm always looking for ideas on how to make my home more energy efficient.
My latest find is this video which covers ideas on home energy retrofits:
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Burbank Real Estate Agent Ana Connell
Burbank,
CA
More about me…
Keller Williams Realty
Address: 401 S. First Street, Burbank, Ca, 91502
Office Phone: (818) 239-3500 x 616
Cell Phone: (818) 795-8474
Email Me
Housing and economic information and statistics for Burbank, North Hollywood, Hollywood Hills, Studio City , Valley Village, Toluca Lake and surrounding areas of the San Fernando Valley.
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