Asking price $1,289,000 sold price $1,265,000
Do you think the back yard is big enough?
This is the cheapest home to sell this week in Studio City
See Burbank's newest home to hit the market during the Coronavirus pandemic!
Here is your latest Burbank hills listing.... Asking price is $1,349,000.
Home selling strategy during this pandemic
The stay-at-home order has been extended to 5/15/20😩.
Use this time to strategize and prepare for the sale of your home.
Once the order is lifted, I believe there will be a buying frenzy!
Burbank has had 14 property sales so far in the month of April
From 02/01/20 - 02/16/20, more than a month before the stay-at-home order was put into effect, Burbank had 18 property sales.
This data shows that sales haven't slowed that much in Burbank.
Will home prices fall after the pandemic?
Expect a dip in prices during the pandemic.
Once the stay-at-home order is lifted, I anticipate a buying frenzy.
In my opinion, prices will return to where they were before the pandemic started.
Fewer home inspections show there's less buyer demand
I recently spoke to the owner of a very large home inspection company that serves the entire Los Angeles area.
He said that his company does on averages 450 - 500 inspections a week.
Last week, his company only did 250 inspections.
That's a major drop from their average.
This tells me that demand is way down, however, serious buyers are still snatching up properties.
I expect this trend to continue until the stay-at-home order is lifted.
What an amazing opportunity for buyers to finally not have to go up against so much buyer competition!
In my opinion, there will be a buying frenzy after the order is lifted.
