Home Buying in Burbank>Question Details

sixties1, Home Buyer in North Hollywood, CA

everything in burbank worth buying under $400,000 is not out there.priced outta my own town.

Asked by sixties1, North Hollywood, CA Sat May 18, 2013

This question was asked from this property: http://www.trulia.com/property/3096187902-2247-N-Naomi-St-Bu…

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The market has bottomed out ,the first price jump is usually the biggest,there are home coming on the market close to $400,000.00 .You may have to adjust your price up a bit .Good Luck !
1 vote Thank Flag Link Wed May 29, 2013
buying in tujunga at under 300,000 why spend 400,000 on a fixer here.
Flag Thu May 30, 2013
I live in Shadow Hills... in the areas you mentioned there are properties under $400k. Majorty are 2 bedrooms or small 3 bedrooms. Tujunga prices are going up quicker than Sunland home prices.

0 votes Thank Flag Link Sat May 18, 2013
i have 3 dogs ,2 are oversized, i cant buy a condo they wont take them..praying for house under 400,000 to be found..looking everywhere for weeks and weeks..sold my home in burbank rancho in april..,downsizing..
0 votes Thank Flag Link Sat May 18, 2013
thank you kyle and norma, theres nothing listed here right now in this price range, i have expanded to sunland,tujunga,glendale, i pray this investor cash buying swarm ends --thats stopping our local buyers from having any chance.t he bidding wars on the fixers ive seen is so discouraging.
0 votes Thank Flag Link Sat May 18, 2013
Best thing to do is work with someone that is always looking for you. Shoot us an email if you'd like and we'll let you know as soon as something becomes available in your price range. We would be honored to work with you. Go to our website and hit the contact page :D
Flag Sat May 18, 2013
Hang in there. Right now cash buyers are king so to speak but pretty soon they'll have to weigh out their purchasing power vs their net profits if they are flipping. As prices get higher their profits diminish and they'll start looking at income properties and/or further out.
Flag Sat May 18, 2013
Close to the airport properties do pop up but usually an all cash buyer will buy it. Right now it is going to be a waiting game or switch areas.

Good luck.

0 votes Thank Flag Link Sat May 18, 2013
Good values and prices are still out there! Harder to find when the market is moving so quickly, however a good Real Estate Professional can do the shopping for you. Interview agents and find someone you feel is on the same page as you are and understands your requirements. When the right situation arises you must act quickly in this market. Understand how supply and demand determines pricing averages and develop realistic expectations! If one particular area is likely to be too expensive, focus on acceptable alternatives. Your home is out there!

Rich Kurtz
Keller Williams
(818) 627-1900
0 votes Thank Flag Link Sat May 18, 2013
Yes in today's market these are the facts. In Burbank right now - today there are only 7 properties under $400k and all are condo or town homes. We've been advising our home buyers for quite some time to move fast because the market started to shift at the end of 2011. Even though it was a slight shift, it was noticeable as bank owned properties began to decrease at that time.

Unfortunately many buyers waiting for the shadow inventory stayed sitting on the fence for almost another year and by the second quarter of last year properties started to move quicker from listing to pending. As existing inventory started to get gobbled up by the buyers in the marketplace and more buyers began transitioning from sitting at the sidelines, current inventory start to decrease. As inventory decrease and buyer demand increased, prices shifted upwards due to multiple offers.

There are still opportunities out there - as a home buyer you'll just have to move faster, pay more and be unemotional. If you aren't, you'll end up pricing yourself out of the market.

Please let us know if we can help you make the transition to homeowner :)

Have a great day!
Kyle & Norma
RE/MAX Town Center
800-525-5157 ext 0
0 votes Thank Flag Link Sat May 18, 2013
It is unfortunate but prices are rising and depending on your housing criteria you may have waited too long to buy for that price. With little inventory, most listings are getting multiple offers within days of listing. Burbank's condos and townhomes are rising as well so if you are willing to consider those, don't wait too long!
0 votes Thank Flag Link Sat May 18, 2013
Unfortunately, this is happening in a number of places...including San Diego!

The prices go up and down...save your money...consider buying a condo or townhome....or in an area a little farther out from where you want to be!

Good luck
0 votes Thank Flag Link Sat May 18, 2013
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